**Seplat Energy Plc Reports Strong 9M 2025 Results with Significant Growth and Strategic Progress**
Seplat Energy Plc, a leading Nigerian independent energy company, announced its unaudited results for the nine months ended 30 September 2025, highlighting robust operational and financial performance. Key takeaways include
**Operational Highlights**
**Production Growth** 9M 2025 production averaged 135,636 boepd, up 185% YoY, with 3Q 2025 production at 137,888 boepd.
**Offshore Performance** Idle well restoration added ~33.4 kbopd, partially offset by planned downtime and lower output from A/K.
**LPG Milestone** First LPG cargo sold domestically, enhancing clean cooking access.
**Safety Incidents** One Lost Time Injury (LTI) and a fire at Yoho platform (no injuries), expected to impact 4Q production by 10-12 kboepd.
**ANOH Gas Plant** On track for first gas delivery in 4Q 2025.
**Carbon Emissions** Onshore emissions intensity down 21% to 25.2 kg CO2/boe
routine flaring elimination on track for end-2025.
**Financial Highlights**
**Revenue:** $2.18 billionup 204% YoY.
**Adjusted EBITDA:** $1.11 billionup 190% YoY.
**Cash Generation** $1.39 billion, up 239% YoY, with net debt reduced to $386 million (net leverage at 0.27x ND/EBITDA).
**Dividend** Declared 7.5 US cents per share for 3Q 2025, up 63% QoQ, including a 2.5 US cents special dividend.
**Strategic Progress**
**Guidance Update** Production guidance narrowed to 130-140 kboepd
capex guidance to $270-290 million.
**Debt Management** Repaid Westport junior facility and refinanced senior RBL at lower cost
$350 million RCF undrawn.
**2030 Roadmap** Targeting 200 kboepd production and $1 billion in cumulative dividends by 2030.
**CEO Commentary**
Roger Brown emphasized Seplatโs ability to operate at scale post-MPNU acquisition, robust financial performance, and commitment to safety, sustainability, and shareholder returns.
**Summary Table**
Metric
9M 2025
9M 2024
% Change
Revenue ($ million)
2176.6
715.3
204%
EBITDA ($ million)
1111.9
383.0
190%
Production (boepd)
135636
47525
185%
Net Debt ($ million)
386
43% QoQ
Seplat Energy remains focused on sustainable growth, energy transition, and delivering value to stakeholders.
Below is the HTML table code comparing the financials and debt year on year based on the provided text:
### Notes:
1. **Net Debt Comparison**: The 9M 2024 net debt figure is not directly available, so the table compares 9M 2025 net debt ($386 million) with 2Q 2025 net debt ($676 million) as provided in the text.
2. **ND/EBITDA**: The 9M 2024 ND/EBITDA ratio is not provided, hence marked as "N/A".
3. **Formatting**: The table is styled with borders, padding, and right-aligned numeric values for better readability.