Seplat Energy Plc delivered one of its strongest performances yet in 2025, showing how strategic acquisitions can transform a company’s fortunes.
Over the nine months ending September 30, the indigenous oil producer earned $1.1 billion in pre-interest earnings, driven largely by its acquisition of Mobil Producing Nigeria Unlimited (MPNU) assets, which it now operates as Seplat Producing Nigeria Unit (SEPNU).
Seplat Energy Strong Earnings
Consequently, EBITDA surged 190% year-on-year to $1.1 billion, reflecting the significant impact of the MPNU deal.
Offshore assets OMLs 67, 68, 70, and 104 produced an average of 77,562 barrels of oil equivalent per day (BOEPD), which helped Seplat raise total production 185% to 135,636 BOEPD.
Production And Revenue Growth
This growth has strengthened Seplat’s position as one of Nigeria’s leading indigenous oil producers.
Read Also: CAP Plc Profit Jumps 39% On Strong Strategic Execution
Moreover, revenue climbed to $2.18 billion, up 204% from the same period last year, while gross profit reached $879.5 million, a 148% increase.
Higher production volumes offset a 13% drop in realised oil prices, which fell to $71.9 per barrel.
Cash Flow And Future Plans
Strong operations also drove cash flow.
Net operating cash flow jumped 230% to $1.395 billion, and free cash flow rose 314% to $830.7 million.
The company repaid $1.03 billion in debt while raising $650 million to fund expansion.
Finally, CEO Roger Brown outlined a $3 billion investment plan for 2026–2030, focusing on new wells and offshore infrastructure.
Overall, Seplat’s performance highlights how indigenous producers actively seize opportunities left by exiting international oil companies.
