# Seplat Energy financial and operational developments > Developing situation record from CLSTR: https://clstr.news/situations/seplat-energy-financial-and-operational-developments > Updated: 2026-10-30T04:33:46.000Z. Sources: 2. Developments: 2. 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. ## Timeline ### 2026-10-30: Seplat 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. 2 sources. https://clstr.news/cluster/seplat-energy-reports-gas-discovery-and-revenue-growth ### 2026-10-02: Seplat 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. 6 sources. https://clstr.news/cluster/seplat-energy-shares-rise-as-tony-elumelu-increases-stake --- Cite as: Seplat Energy financial and operational developments. CLSTR, https://clstr.news/situations/seplat-energy-financial-and-operational-developments