Seplat Energy reports gas discovery and revenue growth

Seplat Energy Plc has announced a significant hydrocarbon discovery at its Aku-01 exploration well in Nigeria. Preliminary internal estimates indicate the presence of 157 billion cubic feet of gas and 19 million barrels of oil in place. The discovery, made within the Petroleum Prospecting Licence 2A25, has de-risked four adjacent prospects, with plans to test one via a second exploration well in 2027.

In its unaudited results for the nine months ended September 30, 2026, the company reported that revenue grew 27 percent to $2.76 billion. Profit after tax rose 174 percent to $260.2 million, compared to $95.1 million in the same period the previous year. Operating profit increased by 50 percent to $1.07 billion, while adjusted EBITDA rose 38 percent to $1.53 billion. Additionally, the company successfully cleared all debt raised for its $1.3 billion MPNU acquisition and reported a 14 percent decrease in emissions intensity.