Seplat Petroleum Development Company Plc, a leading indigenous Nigerian oil and gas exploration and production
company with a strategic focus on Nigeria, listed on the Main Market of the London Stock Exchange and Nigerian Stock Exchange has released its trading statement and operations update.
Here are the highlights of the report;
1) Full year 2015 working interest production of 43,372 boepd – ahead of guidance and up +41% year-on-year.
2) Current daily working interest production running at around 55,000 boepd – oil and gas rates both strong.
3) Benefit of Oben gas plant expansion being felt with significantly higher gas sales and condensate yield – gas
pricing is de-linked to oil price.
4) 2015 revenue expected to be US$550 million to US$600 million.
5) Liquidity remains strong with net debt as at 31 December 2015 US$537 million (including cash balances of