Seplat Energy PLC has announced its audited results for the twelve months ended 31 December 2024, growing its revenue for the period to N1.652tn from N696.9bn Year-on-Year.
Cash generated from its operations rose to N567.5bn from N340.6bn Year-on-Year).
For 2024, the confidence in Seplat Energy’s business outlook was underpinned by a special dividend, which lifted total 2024 dividend to US16.5 Cents per share, up by 10% compared to 2023.
Production (onshore assets) averaged 48,618 barrels of oil equivalent per day (boepd) up 2% from 2023 (47,758 boepd), and within guidance. Including 19 days of SEPNU production (annualised average contribution of 4,329 kboepd), reported production reached 52,947 boepd, 11% higher than in 2023.
The Company’s operating profit also rose to N647.9bn from N163.7bn Year-on-Year whilst profit before tax surged to N561.4bn from N125.5bn Year-on-Year.
In the same vein, gross profit for the Company hit N710.1bn from N349.3bn Year-on-Year, as the company achieved more than 11.0 million hours (2023: 8.7 million hours) without Lost Time Injury (LTI) on Seplat-operated assets in 2024.
