Seplat Energy Celebrates 10 Years: Strong Financials, Community Focus, and Market Leadership
Seplat Energy Plc marked a decade of success at a press briefing held on Thursday, highlighting its impressive financial performance, commitment to social responsibility, and leadership role in the Nigerian oil and gas sector.
Financial Strength and Growth
Since its initial public offering (IPO) in 2014, Seplat Energy has generated a substantial $1.7 billion in free cash flow, averaging $264 million annually. This robust financial health is further bolstered by $2.8 billion in total contributions to the Nigerian government in taxes and royalties over the past 13 years.
Investing in Shareholders and Communities
Seplat Energy recognizes the importance of returning value to shareholders. Since the IPO, the company has distributed $575 million in dividends, with a core dividend for 2023 increasing by 20%.
Beyond financial returns, Seplat Energy prioritizes social responsibility. Over $57 million has been invested in community projects focused on healthcare, education, and empowerment initiatives.
Market Leader and Strategic Acquisitions
Seplat Energy has established itself as a leading player in the Nigerian oil and gas sector. The company boasts a portfolio of eight oil blocks in the Niger Delta, with a production capacity of 47,758 barrels of oil equivalent per day. Key acquisitions such as Eland Oil & Gas and Belema Oil Producing have contributed to this growth.
Powering Nigeria’s Future
Seplat Energy plays a critical role in Nigeria’s energy sector, supplying a significant portion of the country’s crude oil for export and acting as a leading supplier of gas for domestic power generation. At times, Seplat gas has powered up to 25-30% of the national grid.
Looking Forward
Seplat Energy boasts a strong balance sheet with over $800 million in available liquidity and access to global capital markets. The company remains a strong voice in the African energy landscape, fostering relationships with investors worldwide.
Seplat Energy’s stock price currently sits at £145 on the London Stock Exchange (LSE) and N3,370 on the Nigerian Stock Exchange (NSE) as of April 16, 2024.
