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Seplat Energy Plc reported revenue of $2.18 billion for the nine months ended September 30, 2025, up 204% from $715 million recorded in the corresponding period of 2024.
Adjusted EBITDA increased to $1.11 billion, representing a 190% growth, while cash generated from operations rose to $1.40 billion, up 239% year-on-year.
Net debt declined to $386 million from $676 million in the previous quarter, reducing leverage to 0.27x ND/EBITDA. Cash at bank stood at $579.8 million, excluding $135.4 million in restricted cash.
The Board approved a Q3 2025 dividend of 7.5 US cents per share, an increase of 63% quarter-on-quarter and 108% year-on-year, consisting of a 5.0 US cents base dividend and a 2.5 US cents special dividend.
Average daily production rose to 135,636 barrels of oil equivalent per day (boepd), compared to 47,525 boepd in the same period of 2024.
The company narrowed its 2025 production guidance to the upper range of 130–140 kboepd.
Revenue growth was supported by improved performance across both onshore and offshore operations. The idle well restoration programme added 33,400 barrels per day from 33 restored wells. The ANOH gas plant remains on track to deliver first gas in Q4 2025.
Chief Executive Officer Roger Brown said the company generated over $1 billion in after-tax cash flows during the period and remains focused on maintaining strong cash generation, disciplined capital allocation, and shareholder returns.
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