Seplat Energy Reports 144% Revenue Growth to $2.72bn

Seplat Energy PLC announced its full-year audited results for the period ending December 31, 2025, revealing a revenue increase of 144.2% to $2.72 billion, up from $1.116 billion in 2024. The group’s production surged by 148% to an average of 131,506 barrels of oil equivalent per day (boepd), driven by the first full-year contribution from offshore assets.

The unit product operating cost decreased by 5% to $15.7 per barrel of oil equivalent. EBITDA rose by 137% to $1.275 billion, while cash generated from operations increased by 276% to $1.166 billion.

Seplat's net debt fell by 25% to $673.3 million, improving the net debt to EBITDA ratio to 0.53x. The company also reported a fourth-quarter dividend of 8.3 US cents per share, comprising a base dividend of 5.0 cents and a special dividend of 3.3 cents, representing an 11% quarter-on-quarter increase.