Aradel, Seplat, and Oando amass N2.86 trillion for growth

In the first half of 2026, Aradel Holdings, Seplat Energy, and Oando Plc built a combined cash reserve of N2.86 trillion, enhancing their liquidity for post-acquisition growth and increased production. Financial statements indicate that Aradel ended H1 2026 with N1.72 trillion, Seplat with N598.35 billion, and Oando with N544.92 billion.

This cash position grew by N456.34 billion, reflecting improved cash generation at Aradel and Seplat, alongside increased financing at Oando. Both Seplat and Oando prioritize capital expenditure in H2 2026, focusing on drilling and well interventions.

Seplat plans to operate eight rigs in H2, up from five in H1, while Oando aims to support new development wells. Aradel's investments include $217.43 million in property, plant, and equipment, with $189.59 million allocated to assets under development.

The companies' cash balances indicate ongoing investments rather than idle funds, with significant portions earmarked for upcoming projects.