The NGX and the general public have been informed by Seplat Energy Plc that Mr Roger Brown, the company’s Executive Director and Chief Executive Officer (CEO), has purchased 50,000 common shares. On March 12, 2025, this information was posted on the NGX and signed by Mrs. Edith Onwuchekwa, the company secretary.
Mr Brown now owns 4,203,776 shares overall, strengthening his voting interest in the company with this recent acquisition, which was valued at around N285 million. Based on the issued share capital of 588,444,561 shares, the statement states that this investment amounts to around 0.7144% of the entire voting interest.
The following announcement attests to the transaction’s compliance with the applicable laws: ‘’This notification is made in accordance with Rule 17.15(c) Disclosure of Dealings in Issuers’ Shares, Rulebook of the Exchange, 2015 (Issuers’ Rule), and Article 19(3) of the UK Market Abuse Regulations.’’
On the Nigerian Stock Exchange, SEPLAT has continued its upward trend in recent years. The company’s shares saw a year-to-date return of 146.8% in 2024. SEPLAT is now trading around N5,700, but price activity has paused so far in 2025.
After acquiring Mobil Producing Nigeria Unlimited (MPNU), now known as Seplat Energy Producing Nigeria Unlimited (SEPNU), Seplat Energy Plc recently announced an 11% increase in overall production. Seplat’s onshore assets averaged 48,618 barrels of oil equivalent per day (boepd) in 2024, up 2% from 47,758 boepd in 2023, according to the report available to BrandSpur business and economy news desk.
SEPNU’s integration increased overall output to 52,947 boepd with an average yearly contribution of 4,329 kboepd. Seplat’s independently audited 2P reserves rose from 478 million barrels of oil equivalent (MMboe) in 2023 to 886 MMboe after the acquisition, an 85% increase. At 1,217 MMboe, the company’s total 2P+2C reserves increased by 125% as well.
Continuing, Seplat Energy has set a production goal of 120–140 kboepd for 2025, with SEPNU expected to provide 72–84 kboepd and Seplat Onshore expected to contribute 48–56 kboepd. To finance 13 new onshore wells and offshore projects, including the replacement of an inlet gas exchanger on the East Area Project (EAP) NGL project, initial capital expenditure (capex) guidance is estimated to be between $260 million and $320 million.
According to Roger Brown, CEO of Seplat Energy, 2024 was a big year for the business, especially because of the acquisition of SEPNU: “In addition to progressing our existing onshore projects, we completed the acquisition of SEPNU, which adds scale and potential for growth.”
