Seplat Energy Plc Reports Record $1 Billion Cash Flow and Major Debt Reduction in 2025

Seplat Energy Plc, Nigeria’s leading independent energy company, has reported a landmark performance for the first nine months of 2025, generating over $1 billion in operating cash flow — a 183% year-on-year increase.

According to the company’s unaudited financials, Seplat’s after-tax cash flow from operations hit $1.01 billion, driven by robust crude liftings, expanded offshore production, and disciplined cost control. The strong performance enabled the firm to slash net debt by 43%, reducing it from $676 million to $386 million, and pushing its net leverage ratio to 0.27x EBITDA, well below the 1.0x ceiling.

Revenue surged to $2.18 billion, nearly tripling from $715 million a year earlier, while adjusted EBITDA rose 190% to $1.11 billion. Profit before tax climbed 133% to $570 million, despite higher royalties and maintenance expenses linked to the integration of former Mobil Producing Nigeria Unlimited (MPNU) assets.

Seplat also announced a 60% increase in quarterly dividends, underscoring its strong financial footing and commitment to delivering shareholder value.

The company’s performance highlights its strategic progress in expanding Nigeria’s offshore oil and gas operations, improving balance sheet strength, and advancing its transition goals toward a sustainable energy future.