Nigerian independent operator Seplat Energy has made an onshore oil and gas discovery following the drilling of the Aku-01 exploration well on Oil Mining Lease 53 in Imo State. The find encountered five prospective reservoir intervals, with preliminary estimates pointing to 157 billion cubic feet of natural gas and 19 million barrels of oil. “The […]
Nigeria’s Seplat Energy PLC has reported $809.3 million in revenue for the first quarter (Q1), up 350 percent from the same three-month period in 2024 as higher oil and gas volumes offset lower prices.
Net profit came at $23.3 million, or 3.1 cents per share, compared to a net loss of $1.9 million for Q1 2024.
According to the leading energy company, gas is the immediate solution to many immediate problems in Africa; thus, there is a compelling development case for investment in the resource.
$1.28B ExxonMobil-Seplat Deal Gains AEC Support, Signaling Nigeria’s Commitment to an Enabling Environment
Pressure from President Bola Tinubu, following two high-level visits from ExxonMobil’s top shots, has cleared the hurdle in the path of the international oil company’s asset sale to indigenous heavyweight, Seplat Energy Plc.