Seplat Energy Plc has announced to the public and the NGX that its Chief Executive Officer and Executive Director, Mr. Roger Brown, has acquired 50,000 ordinary shares in the company.
This information was disclosed on the NGX on March 12, 2025, and signed by the company secretary, Mrs. Edith Onwuchekwa.
With this recent purchase worth about N285 million, Mr. Brown now holds a total of 4,203,776 shares, increasing his voting interest in the company.
According to the disclosure, this stake represents approximately 0.7144% of the total voting interest, based on the issued share capital of 588,444,561 shares.
The announcement confirms that this transaction complies with the relevant regulations, stating:
‘’This notification is made in accordance with Rule 17.15(c) Disclosure of Dealings in Issuers’ Shares, Rulebook of the Exchange, 2015 (Issuers’ Rule), and Article 19(3) of the UK Market Abuse Regulations.’’
Market trend
In the recent past years, SEPLAT has maintained an upward trend on the Nigerian Stock Exchange.
- In 2024, shares of the company attained a year-to-date performance of 146.8%.
- However, so far in 2025, price action has stalled, with SEPLAT currently trading at N5,700.
Increased production
Seplat Energy Plc recently reported an 11% increase in total production following the acquisition of Mobil Producing Nigeria Unlimited (MPNU), which has now been renamed Seplat Energy Producing Nigeria Unlimited (SEPNU).
- According to the report, Seplat’s onshore assets averaged 48,618 barrels of oil equivalent per day (boepd) in 2024, a 2% increase from the 47,758 boepd recorded in 2023.
- The integration of SEPNU contributed an annualized average of 4,329 kboepd, bringing total production to 52,947 boepd.
Following the acquisition, Seplat’s independently audited 2P reserves increased by 85% to 886 million barrels of oil equivalent (MMboe), up from 478 MMboe in 2023.
The company’s total 2P+2C reserves also rose by 125% to 1,217 MMboe.
- For 2025, Seplat Energy has set a production target of 120-140 kboepd, with expectations that Seplat Onshore will contribute 48-56 kboepd and SEPNU will provide 72-84 kboepd.
- Initial capital expenditure (capex) guidance is projected between $260 million and $320 million, aimed at funding 13 new onshore wells and offshore projects, including the replacement of an inlet gas exchanger on the East Area Project (EAP) NGL project.
Seplat Energy’s Chief Executive Officer, Roger Brown, noted that 2024 was a significant year for the company, particularly due to the SEPNU acquisition. “In addition to progressing our existing onshore projects, we completed the acquisition of SEPNU, which adds scale and potential for growth.”
