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Seplat Energy stake sale and profit surge

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2026-07-31 01:36 UTC → 2026-07-31 10:23 UTC · added removed

Seplat Energy operations in Nigeria stake sale and profit surge

In late July 2026, 2026 Seplat Energy PLC announced Plc signed a binding agreement Heads‑of‑Agreement to sell a 10 percent working interest in its joint venture with the Nigerian National Petroleum Company. Company (NNPC) for $281.6 million. The transaction, deal, effective 1 April 2026 and slated to close in the second half of the year, pending regulatory approval, will raise NNPC’s share to 70 percent while Seplat retains a 30 percent stake and operator status. Proceeds Roughly half of roughly $281.6 the proceeds – about $140 million are earmarked for debt repayment (up to $300 million) and shareholder returns, including – will be paid as a special cash dividend of about $140 million. Production guidance remains unchanged, though dividend, with the assets’ contribution is expected remainder used to fall from about 80,000 cut gross debt by up to 65,000 barrels $300 million, including repayment of oil equivalent per day, and long‑term output targets are being revised downward. Later the same day, Seplat released its Advanced Payment Facility. Seplat’s unaudited half‑year results for the period to 30 June 2026, showing a 498 percent jump in 2026 showed revenue of $1.82 billion, profit after tax to of $164 million (a 498 % YoY rise) and a record quarterly dividend of $0.12 per share. Revenue rose share (core $0.05 plus special $0.07). Production guidance for 2026 remains 135,000‑155,000 boepd, but the long‑term 2030 output target was lowered to $1.82 billion 170,000 boepd and average production increased 4 percent 2P reserves fell 13 % to 139,509 barrels of oil equivalent per day, keeping the company within its full‑year guidance. 872.9 million boe. The report same period also noted saw a leadership change at Shell Nigeria, with Nigeria: Executive Vice President and Country Chair Marno de Jong departing departed after six years, and Elohor Aiboni was appointed, becoming the first female head of Shell’s Nigerian businesses.

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  1. 2026-07-31 10:23 UTC Seplat Energy stake sale and profit surge
  2. 2026-07-31 01:36 UTC Seplat Energy operations in Nigeria

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