Seplat Vitality PLC has elevated its dividend per share by 8 p.c quarter-on-quarter and 96 p.c year-on-year to $0.09 on projected “robust money flows” pushed by excessive oil costs.
“The battle within the Center East has dramatically modified the outlook for the oil and fuel business in 2026, and fairly probably past. Nigeria’s favorable geographic positioning, mixed with our oil-rich portfolio, which is absolutely uncovered to larger oil costs, and our robust stability sheet, means we’re effectively positioned to ship robust money flows in 2026”, chief govt Roger Brown mentioned in an internet assertion Thursday.
The dividend enhance comes from the particular portion of $0.04 per share. The core dividend stays at $0.05.
Seplat reported $37.9 million in revenue after tax for the January-March 2026 quarter, up 62.7 p.c from the identical three-month interval final yr. Pre-tax earnings was $165.6 million, down 20.2 p.c year-on-year.
Output averaged 129,841 barrels of oil equal a day (boed), down 1 p.c year-on-year. Onshore contribution fell 10 p.c “principally attributable to 38 days unplanned downtime on third-party operated Trans Forcados Pipeline, impacting Western Property”, Seplat mentioned. “Pipeline operations resumed on 24 March and Western Property manufacturing has normalized”.
Seplat maintained full-year manufacturing steerage at 135,000-155,000 boed. That assumes flat crude and condensate manufacturing, a 30 p.c enhance in fuel and an 85 p.c enhance in pure fuel liquids (NGLs).
Realized oil costs in Q1 2026 rose 12.8 p.c year-on-year to a median of $86.2 a barrel. The common realized fuel value was $3.1 per thousand cubic toes. Realized NGL costs dropped 0.8 p.c to $44.4 per barrel.
Income grew 3.9 p.c year-over-year to $840.7 million. Gross revenue elevated 4.9 p.c to $370.5 million.
Nevertheless, adjusted EBITDA fell 7.3 p.c to $371.3 million. Working revenue declined 10.4 p.c to $213.5 million.
Submit-tax money era from operations was $243.4 million, up 10.7 p.c year-on-year.
“Steadiness sheet stays sturdy, [with] end-March money at financial institution $461.7 million (YE 2025: $332.3 million)”, Seplat mentioned.
Internet debt fell 21 p.c quarter-on-quarter to $531.6 million.
“Whereas the firmer oil value outlook ought to improve money flows its period is unsure, as such, we count on to retain our present growth-focused 2026 work program, which can ship enhanced asset reliability and total portfolio progress on path to our 2030 targets”, Brown mentioned. “Total, we’ve got delivered a strong begin to 2026, with expectations that 2Q 2026 will see a step ahead in efficiency”.
To contact the creator, e-mail jov.onsat@rigzone.com
Generated by readers, the feedback included herein don’t replicate the views and opinions of Rigzone. All feedback are topic to editorial assessment. Off-topic, inappropriate or insulting feedback shall be eliminated.
