Seplat Petroleum Development Company Plc, an independent oil and gas company, explores, develops, and produces oil and gas related projects in Nigeria. Its portfolio comprises six blocks in the Niger Delta area. The company was founded in 2009 and is headquartered in Lagos, Nigeria.
25A, Lugard Avenue
Founded in 2009
Seplat Petroleum Development Company plc Announces Consolidated Interim Management Statement for the Nine Months Ended September 30, 2015; Maintains Production Guidance for the Full Year of 2015
Oct 26 15
Seplat Petroleum Development Company Plc announced consolidated interim management statement and production results for the nine months ended September 30, 2015. For the period, the company reported revenues of $419,866,000 compared with $592,468,000 for the same period a year ago. Operating profit was $114,776,000 compared with $254,447,000 for the same period a year ago. Profit before tax was $68,463,000 compared with $227,939,000 for the same period a year ago. Profit after tax was $68,678,000 compared with $227,939,000 for the same period a year ago. Profit attributable to parent was $62,123,000 or $0.12 per share compared with $227,939,000 or $0.46 per share for the same period a year ago. Net cash inflow from operating activities was $10,820,000 compared with $176,496,000 for the same period a year ago. Investment in oil and gas properties was $407,613,000 compared with $116,403,000 for the same period a year ago. Investment in other property, plant and equipment was $2,215,000 compared with $6,700,000 for the same period a year ago. Net debt as on September 30, 2015 was $480 million. Average working interest production during the first nine months increased by 38% to 40,012 boepd (compared to 29,014 boepd for the same period in 2014) and comprised 27,270 bopd liquids and 76.5 MMscfd gas. Reported production figures reflect 54 full and 29 partial days of downtime on the third party operated TFS in the first nine months (two days recorded in Q3). There were no shut-ins recorded at OML 53 and OML 55. Excluding downtime, average working interest production in the first nine months was 45,301 boepd (comprising 32,559 bopd liquids and 73.9 MMscfd gas). During the first nine months, approximately 97% of liquids production from OMLs 4, 38 and 41 was transported through the TFS. This volume was subject to an average of 12.0% reconciliation losses.
The company maintained production guidance for the full year of 2015. The provided guidance of 32,000 to 36,000 boepd for the full year is prudently maintained given the scope for interruptions to third party infrastructure that is beyond the company's control.
Seplat Petroleum Development Company plc Announces Interim Core Dividend, Payable on November 17, 2015
Oct 26 15
The board of Seplat Petroleum Development Company Plc has agreed an interim core dividend of USD 0.04 per share. The dividend will be paid on or shortly after November 17, 2015 to shareholders on the register at the close of business on October 29, 2015. The Nigerian shareholder register will be temporarily closed on October 30, 2015 to enable the company's registrar, DataMax Registrars Limited to prepare for the payment of the interim dividend.
Seplat Petroleum Development Company Plc Presents at 22nd Africa Oil Week/Africa Upstream Conference 2015, Oct-28-2015 11:30 AM
Oct 23 15
Seplat Petroleum Development Company Plc Presents at 22nd Africa Oil Week/Africa Upstream Conference 2015, Oct-28-2015 11:30 AM. Venue: Cape Town, South Africa. Speakers: Austin Avuru, Director & Chief Executive Officer.