Seplat Energy repays final $100 million debt for ExxonMobil assets

Seplat Energy Plc has completed the repayment of the final $100 million balance of the debt used to acquire Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil Corporation. This final payment, made on October 27, 2026, concludes all borrowing related to the December 2024 acquisition of the Nigerian oil and gas assets.

The company disclosed the repayment in its unaudited financial results for the nine months ending September 30, 2026. This follows a $200 million repayment and cancellation of the advance payment facility during the second quarter of 2026.

Seplat reported a significant improvement in its financial position, with net debt falling to $234.9 million at the end of September 2026, a 65% decrease from $673.3 million at the end of 2025. The company’s net debt-to-EBITDA ratio also declined from 0.53 times to 0.14 times over the same period.