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Seplat declares $29m Q3 dividend to shareholders


Seplat  Petroleum Development Company Plc has posted its unaudited results for the nine months ended 30 September 2019 declaring a $29million interim dividend to shareholders.

The results were released to the Nigerian Stock Exchange (NSE) and London Stock Exchange (LSE). The company also highlighted that its recent £382million cash acquisition of Eland Oil and Gas Plc would create more value opportunities for shareholders going forward.

According to the results, working interest production averaged 47,163 barrels of oil equivalent per day (boepd) for the period under review as against 50,303 boepd within the same period in 2018. This reflects slippage to the intended production drilling programme as a result of rig mobilisation delays and availability. Four drilling rigs are now operating across Seplat’s portfolio to drive liquids working interest production to an expected exit rate of 30,000 bopd.

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