Seplat Energy PLC’s revenue for the first quarter of 2025 has risen to N1.228 trillion, from N268.6 billion reported in the same quarter last year. It added that its gross profit soared to N535.4 billion from N63.8 billion Year-on-Year.
The leading Nigerian independent energy company listed on both the Nigerian Exchange and the London Stock Exchange, announced these on its audited results for the three months ended 31 March 2025.
This is according a statement yesterday by Director, External Affairs & Social Performance, Seplat Energy PLC, Chioma Afe and Manager, Corporate Communications, SEPLAT Energy PLC, Stanley Opara.
According to the report, the company’s cash generated from its operations for the period grew to N464.9 billion from N25.2 billion Year-on-Year whilst profit before tax rose to N314.6 billion from N103.5 billion Year-on-Year.
It also said that the energy company delivered robust production and cost performance during 1Q 2025, at a new scale, and firmly on track to deliver FY 2025 guidance. It added that strong cash position supported early repayment of $250 million reducing the Revolving Credit Facility (RCF) to $100 million, and an increase in our quarterly dividend to US$ 4.6 cents per share.
It said: “For the period, production averaged 131,561 barrels of oil equivalent per day (boepd) up 167 per cent from 1Q 2024 (49,258 boepd), above the midpoint of 2025 guidance (120 – 140 kboepd).
“Seplat Energy achieved more than 7.3 million man hours without Lost Time Injury (LTI), of which 2.5 million was Seplat onshore-operated assets (1Q 2024: 2.3 million man hours) and 4.8 million hours without LTI for Seplat Energy Producing Nigeria Unlimited (SEPNU) – formerly Mobil Producing Nigeria Unlimited (MPNU).”
