Nigerian energy company Seplat Energy PLC expects its total output in 2026 to rise by about 10 percent compared to 2025, driven mainly by natural gas and gas liquids.
Seplat’s production guidance for the year is set at 135,000 to 155,000 barrels of oil equivalent per day (boepd), up from an average of 131,506 boepd in 2025. The previous year’s growth reflected the company’s first full year managing offshore operations and a strong onshore performance.
Onshore production grew 14 percent last year, supported by the completion of the Sapele Gas Plant and new well developments. Offshore production also rose 9 percent on a pro-forma basis, aided by a program to reactivate idle wells, although the Yoho platform experienced temporary outages and is expected to resume operations in the second quarter of 2026.
While crude oil and condensate production is projected to remain steady, natural gas liquids are expected to jump 85 percent, and gas output by 30 percent.
The company aims to boost offshore gas sales to 240 million cubic feet per day, supported by new contributions from the ANOH Gas Plant, growth at Sapele IGP, and the first phase of the Oso-BRT project, scheduled for completion in the third quarter.
Seplat reported $497.8 million in profit before tax for 2025, an 87 percent increase from 2024, alongside gross profit of $904.5 million. Revenue totaled $2.73 billion, a 144 percent rise, while adjusted EBITDA reached $1.28 billion. The company generated $1.17 billion in cash from operations, more than double the previous year.
The board approved a Q4 2025 dividend of 8.3 cents per share, including a 5-cent base and a 3.3-cent special dividend. Total dividends for the year rose 52 percent year-on-year.
CEO Roger Brown said the results reflect successful offshore activity and strong onshore performance, marking one of the company’s most productive periods.
Seplat closed 2025 with $332.3 million in cash and total assets of $1.34 billion, against liabilities of $1.23 billion, including $72.57 million in interest-bearing loans.
