Oil and gas output reaches 131,561 barrels per day amid expansion
Seplat Energy has reported remarkable production growth with average daily hydrocarbon output reaching 131,561 barrels of oil equivalent per day in Q1 2025—a stunning 167% increase from the 49,258 barrels recorded in Q1 2024. The impressive results exceeded the midpoint of the company’s 2025 guidance of 120-140 thousand barrels per day.
Onshore production contributed 56,196 barrels of oil equivalent per day, 14% higher than Q1 2024 and above 2025 guidance, following strong performance at Oben Gas Plant and the first contribution from the newly commissioned Sapele Gas Plant, which achieved its first commercial gas sales in February 2025.
The company’s idle well restoration program added 11,000 barrels of oil per day to gross joint venture production from just the first 10 wells restored to production. Despite increased operational costs, cash generated from operations soared to $306.5 million, up dramatically from $16.8 million in Q1 2024.
“2025 has started positively for Seplat,” said CEO Roger Brown. “As we deliver the business at a significantly enhanced scale, our focus is on the successful integration of the combined companies, and I am pleased to report that we are making good progress.”
Source: punchng.com
