October 01, 2016 6:10 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Seplat Petroleum Development Company Plc

Company Overview

Seplat Petroleum Development Company Plc, an indigenous oil and gas company, explores, develops, and produces oil and gas in Nigeria. It operates a portfolio of assets in the Niger Delta region, including a 45% interest in the OML 4 that covers an area of 267 square kilometers; a 45% interest in OML 38 that covers an area of 2,094 square kilometers; and a 45% interest in OML 41 that covers an area of 291 square kilometers. The company also holds a 40% non-operated working interest in OPL 283 marginal field area and is located in the northern onshore depo-belt of the Niger Delta; a 40% in OML 53 that covers an area of 1,556 square kilometers and is located onshore in Imo State; and a 22.5% wo...

25A, Lugard Avenue

Ikoyi

Lagos,  

Nigeria

Founded in 2009

Phone:

234 1277 0400

Key Executives for Seplat Petroleum Development Company Plc

Chief Executive Officer, Managing Director and Executive Director
Age: 57
Total Annual Compensation: $1.9M
Chief Financial Officer and Executive Director
Age: 46
Total Annual Compensation: $1.6M
Chief Operating Officer and Executive Director
Age: 59
Total Annual Compensation: $1.3M
Compensation as of Fiscal Year 2014.

Seplat Petroleum Development Company Plc Key Developments

Seplat Petroleum Development Company plc Reports Unaudited Consolidated Earnings and Production Results for the Half Year Ended June 30, 2016; Provides Production and Capital Expenditure Guidance for the Second Half of 2016

Seplat Petroleum Development Company Plc reported unaudited consolidated earnings and production results for the half year ended June 30, 2016. For the half year, the company reported revenue of $143.023 million compared to $247.586 million a year ago. Operating loss was $41.987 million compared to profit of $70.619 million a year ago. Loss before taxation was $57,533 million compared to profit of $41.261 million a year ago. Loss attributable to the parent company was $62.506 million compared to profit of $33.669 million a year ago. Loss per share was $0.11 compared to earnings per share of $0.06 a year ago. Net cash from inflows operating activities was $39.907 million compared to net cash outflows from operating activities of $36.553 million a year ago. Investments in oil and gas properties was $15.519 million compared to $406.076 million a year ago. Investments in other property plant and equipment was $1.236 million compared to $0.547 million a year ago. Net debt at period end stood $598 million. Capital investments for the first six months amounted to $17 million and reflects the limited levels of operational activity owing to the extended shut-in of the Forcados terminal. For the first six months, the company reported working interest production of 25,695 boepd down -21% year-on-year due to shut-in of the Forcados export terminal from mid-February. Liquids production down -51% year-on-year at 11,526 bopd; gas production up 59% year-on-year at 85 MMscfdb. Committed capital expenditures in second half 2016 amount to $20 million and primarily relate to the Phase II expansion of the Oben gas processing facility.

Seplat Petroleum Development Company Plc, H1 2016 Earnings Call, Jul 28, 2016

Seplat Petroleum Development Company Plc, H1 2016 Earnings Call, Jul 28, 2016

Seplat Petroleum Development Company Plc Proposes Final Dividend for 2015

Seplat Petroleum Development Company Plc announced 2015 final dividend of 4 USD cents per share, subject to shareholder approval at the Annual General Meeting to be held in Lagos, Nigeria on 1 June 2016. If approved, the final dividend is to be paid on or shortly after 9 June 2016 to shareholders on the register as of 19 May 2016.

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