Seplat Energy

Seplat Energy PLC is a Nigerian independent energy company focused on the oil and gas sector in Nigeria. The company has interests in 7 onshore oil and gas blocks in the prolific Niger Delta region. The company has 2P reserves of 438 million barrels of oil equivalent (MMboe) as of year-end 2022 with a market capitalization of approximately $900 million as of September 2023,  Average working interest production for the first 9 months of 2023 was 48,152 barrels of oil equivalent per day comprised of 58% oil and 42% gas.

The company's assets are concentrated in the Niger Delta region of Nigeria, providing close access to domestic gas demand centers as well as export facilities. Key producing assets include its interests in OMLs 4, 38 and 41 which have access to both the Forcados and Escravos export terminals, as well as its interest in the large OML 53 block where Seplat is developing the ANOH gas and condensate project. As of September 2022, the company successfully refinanced existing RCF with a new 3-year $350m RCF due on June 2025.

Seplat Energy is led by an experienced management team that is over 98% Nigerian. The company has invested over $2 billion in capital expenditures since its IPO in 2014 to become Nigeria's leading indigenous energy company. Going forward, Seplat is focused on development of its gas business to provide fuel for domestic Nigerian demand.