Financial Energy Review
Seplat Energy Plc, a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, announces its unaudited results for the nine months ended 30 September 2022, recording a rise in profit before tax by 90.3 per cent to N77.5bn from N38.6bn year-on-year. The company also generated cash from its operations to the tune of N154bn from N64.9bn year-on-year, rising by 124.7 per cent.
The energy Company’s also grew its revenue by 34.4 per cent to N258.7bn from N182.7bn year-on-year; as its gross profit soars to N118.5bn from N58.1bn year-on-year, rising by 93.5 per cent.
Seplat Energy is paying Q3 dividend of US2.5 cents per share, taking 9M 2022 total to US7.5 cents per share ($44.1 million paid in the period).
In its operations, Seplat Energy demonstrated a strong safety record, which extended to 30.5 million hours without lost-time injury at Seplat Energy-operated assets; eight (8) wells completed, another seven wells to be drilled in Q4 (currently drilling four wells); and the Amukpe-Escravos Pipeline commenced commercial operations in August, with 700 kbbls lifted in October.
