Monitor this situation.
Unsubscribe anytime.
[SITUATION] · [QUIET] · [BUSINESS]
2 clusters · 2 sources · 28 days · First seen · Last updated
Seplat Energy financial and operational developments
Overview
Seplat Energy has experienced significant financial growth and operational expansion. In early October 2026, the company saw a 40.8 percent increase in its stock price, supported by a 74.1 percent rise in first-half pre-tax profit. During this period, Tony Elumelu increased his ownership in the company to approximately 21.07 percent through a purchase of 6,000,000 shares totaling roughly £53.22 million.
By late October 2026, the company announced a major hydrocarbon discovery at its Aku-01 exploration well in Nigeria, with preliminary estimates suggesting 157 billion cubic feet of gas and 19 million barrels of oil in place. Financial reports for the nine months ending September 30, 2026, showed revenue grew 27 percent to $2.76 billion and profit after tax rose 174 percent to $260.2 million. Additionally, the company reported it had cleared all debt related to its $1.3 billion MPNU acquisition and achieved a 14 percent decrease in emissions intensity.
Entities
Seplat Energy Plc · Tony Elumelu · Petrolin Group · Nigeria · Aradel Holdings Plc
Timeline
-
[BUSINESS] 2 sourcesSeplat Energy reports gas discovery and revenue growth
Seplat Energy discovered 157 billion cubic feet of gas and 19 million barrels of oil in Nigeria, while reporting a 174 percent increase in nine-month profit to $260.2 million.
-
[BUSINESS] 6 sourcesSeplat Energy shares rise as Tony Elumelu increases stake
Tony Elumelu acquired 6 million Seplat Energy shares, while rising stock prices for Seplat and Aradel boosted billionaire Samuel Dossou-Aworet’s portfolio by $430 million.
Sources
thisdaylive.com · ttnews.com