Seplat Energy Q4 Earnings Call Highlights

Seplat Energy (LON:SEPL) executives utilized the company’s full-year 2025 results telephone to stress the “transformational” interaction of the Mobil Producing acquisition, which delivered the archetypal afloat twelvemonth of combined operations and drove crisp increases crossed production, revenue, and currency flow.

Chief Executive Officer Roger Brown said the enlarged institution present has a importantly expanded assets base, citing combined 2P positive 2C resources of astir 2.5 cardinal barrels of lipid equivalent (boe) connected a working-interest basis. Brown reiterated management’s 2030 program targets, including reaching much than 200,000 boe/d of accumulation to the associated task and delivering astatine slightest $1 cardinal of aggregate dividends implicit the adjacent 5 years.

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Brown reported full-year accumulation of 131,500 boe/d, a 148% year-over-year increase. He said the effect landed wrong the company’s guidance scope aft Seplat tightened guidance successful the 3rd 4th to 130,000–140,000 boe/d.

Chief Operating Officer Samson Ezugworie highlighted respective operational initiatives, peculiarly successful the offshore business. He said an Idle Well Restoration Program brought backmost 49 wells successful 2025, delivering astir 48,600–49,000 barrels of lipid per time successful total, which helium characterized arsenic accordant with interior forecasts of astir 1,000 barrels per time per well. The institution plans to reconstruct astir 50 further idle wells successful 2026, with Ezugworie cautioning that aboriginal candidates were “the astir juicy and casual to hole wells,” though helium said results truthful acold this twelvemonth person been strong.

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Ezugworie besides discussed advancement connected state and midstream. He said state accumulation roseate 54% year-over-year, supported by improved onshore show pursuing turnaround attraction astatine the Oben Gas Plant successful precocious 2024 and contributions from the Sapele Integrated Gas Plant. He added that Seplat achieved “first gas” astatine the ANOH state works successful January and is presently supplying 50–70 cardinal modular cubic feet per time (scf/d) to Indorama, portion preparing to ramp up deliveries to Nigeria LNG (NLNG).

On offshore midstream projects, Ezugworie said the Oso-to-BRT Phase One task is expected to treble state proviso to NLNG from 120 to 240 cardinal scf/d, with archetypal state targeted for the 3rd 4th of the existent year. A Phase Two task would further summation volumes to 480 cardinal scf/d, with transportation targeted for 2027, helium said.

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