Seplat Energy’s Operating Profit Rises to N411.3bn in 9M 2024

… Declares US 9.6 Cents Total Dividend Per Share for 9M 2024

ALIMOTU SHADIAT

Seplat Energy PLC, a leading Nigerian independent energy company listed on both the Nigerian Exchange and the London Stock Exchange, has announces its unaudited results for the for the nine months ended 30 September 2024, with a strong underlying business performance which supports increase to core dividend by 20% to US3.6 Cents per share in 3Q 2024 alone. Total core dividend declared to date in 2024 is US9.6 cents per share.

The leading indigenous energy company grew its revenue for the period to N1.071tn from N478.1bn Year-on-Year with cash generated from its operations rising to N633.8bn from N213.8bn Year-on-Year).

Working interest production averaged 47,525 boepd (9M 2023: 48,152 boepd), around the midpoint of guidance.

 Seplat Energy’s operating profit also rose to N411.3bn from N91.3bn Year-on-Year, as the company achieved 8.2 million-man hours without Lost Time Injury (LTI).