Seplat Energy Reports 30% Revenue Growth in H1 2026

Seplat Energy Plc recorded a strong financial performance in the first half of 2026, with revenue rising 30% to $1.82 billion, up from $1.40 billion in the same period the previous year. This translates to approximately N2.37 trillion at an exchange rate of N1,300 per dollar.

The company’s production averaged 139,509 barrels of oil equivalent per day, a 4% increase from the prior year, with a second-quarter production rise of 9% to 149,070 barrels. Seplat's gross profit surged 68% to $815.9 million, while operating profit increased 69% to $655.9 million.

Profit before tax nearly doubled to $574.9 million, and profit after tax skyrocketed 498% to $164 million. The CEO, Roger Brown, emphasized the importance of strengthening the balance sheet amid uncertain commodity prices.

Seplat repaid $200 million of a $300 million Advance Payment Facility, reducing its debt and enhancing its financial stability.