Aradel Holdings' Oil Output Soars 523% in H1 2026

In its unaudited results for the six months ending June 30, 2026, Aradel Holdings Plc announced a remarkable 523% increase in group production, averaging 139,500 barrels of oil equivalent per day (kboepd). This surge was attributed to acquisitions and enhanced asset uptime, resulting in gross revenue rising 577% to N2.49 trillion.

The Chief Financial Officer, Adegbola Adesina, indicated that the enlarged portfolio is translating into greater scale, profitability, and cash generation. Average daily crude oil output increased by 258% to 55.6 kbopd from 15.5 kbopd in H1 2025, while gas production soared 1,121% to 503.2 million standard cubic feet per day (mmscf/d) from 41.2 mmscf/d.

The total working-interest production for the period was 25.2 million barrels of oil equivalent (mmboe). Aradel's growth was supported by a firmer price environment, with an average realized price of $90.4 per barrel for crude and $2.08 per mmscf for gas.