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  6. Seplat Energy Plc (SEPL)

  7. Seplat Energy Plc (SEPL) Share Price

SEPL

Seplat Energy Plc

117.80
0.80 (0.68%)
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Share Name Share Symbol Market Type Share ISIN Share Description
Seplat Energy Plc LSE:SEPL London Ordinary Share NGSEPLAT0008 ORD NGN0.50 (DI)
  Price Change % Change Share Price Shares Traded Last Trade
Upgrade Icon
  0.80 0.68% 117.80 85,312 16:35:04
Bid Price Offer Price High Price Low Price Open Price
118.00 118.40 118.40 117.00 117.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Field Services,nec 403,913.00 26,483.00 4,500.50 2.62 693.19
Last Trade Time Trade Type Trade Size Trade Price Currency
17:38:53 O 203 117.798 GBX
Related Shares
Bp (BP.), Harbour Energy (HBR), Curzon Energy (CZN), Echo Energy (ECHO)

Seplat Energy (SEPL) Latest News

Seplat Energy News

Date Time Source Headline
24/5/202310:41ALNCNewsIN BRIEF: Seplat Energy extends Mobil Producing Nigeria purchase deal
24/5/202308:03UKREGSeplat Energy PLC UPDATE ON PROPOSED CASH ACQUISITION
18/5/202312:51UKREGSeplat Energy PLC ANNOUNCEMENT OF CURRENCY EXCHANGE RATES
17/5/202313:57UKREGSeplat Energy PLC Director/PDMR Shareholding
16/5/202314:34UKREGSeplat Energy PLC Federal High Court strikes out Igbrude Petition
15/5/202317:06UKREGSeplat Energy PLC Result of AGM
15/5/202315:36UKREGSeplat Energy PLC Court of Appeal suspends Interim Court Orders
11/5/202319:42ALNCNewsIN BRIEF: Seplat Energy to defend action against company officials
11/5/202318:21UKREGSeplat Energy PLC Interim Court Orders
09/5/202314:23UKREGSeplat Energy PLC Court orders Seplat to hold AGM

Seplat Energy (SEPL) Discussions and Chat

Seplat Energy Forums and Chat

Date Time Title Posts
06/6/202312:33SEPLAT552
11/7/202208:12Nigerian Oil Stocks with production96
18/8/201413:02BUY AND HOLD in SEPLAT-
09/5/201407:53SEPLAT2

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Seplat Energy (SEPL) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-06-09 16:39:02117.80203239.13O
2023-06-09 16:02:21117.805,0005,890.00O
2023-06-09 15:35:32117.805,0005,890.00O
2023-06-09 15:35:04117.8019,48822,956.86UT
2023-06-09 15:29:56118.005564.90AT

Seplat Energy (SEPL) Top Chat Posts

Top Posts
Posted at 29/7/2022 19:12 by krall
Seplat H1 results all good. #SEPL gaining more ground in oil & gas.

Agreement for 95% equity farm-in to the Abiala Marginal Field carved out of OML 40. Proven field next to their produceing Gbetiokun.

https://twitter.com/christi29377373/status/1552965591031595008

New gas contracts - . During the period we signed short-term gas sales agreements (GSAs) with three new customers, two of which commenced offtake at a combined rate of 66 MMscfd in January and March. The third customer will commence offtake of 20 MMscfd in Q4 when conditions precedent to commence are expected to have been satisfied.
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Posted at 01/7/2022 10:03 by deandavison245
Ripples Nigeria analysis of five quoted companies, whose financials are publicly accessed, showed revenue grew 42% in the three months of Q1 this year, however, they could only manage 7.53% growth in Profit After Tax (PAT).

The five oil and gas companies generated a total of N269.09 billion revenue in Q1 2022, against the N189.45 billion the firms grossed during the corresponding period of Q1 last year.
While PAT for first quarter 2022 reached N14.09 billion, slightly above the N13.10 billion generated same period 2021.
A closer look showed that the first quarter of this year wasn’t a good outing for Conoil, as it had the worst performance among the companies analysed, based on decline in revenue, while only MRS recorded loss in profit after tax.
Breakdown: Best performing oil companies in Nigeria Q1 2022

Ripples Nigeria’s quarterly best performing oil and gas companies is determined by the growth of the oil companies turnover within the three months of each quarter, and that of Q1 falls between January to March.

Eterna – (84.8%)

Eterna oil ended the first quarter as the best performing oil and gas company, as its revenue grew 84.8% year-on-year, after grossing N26.8 billion, surpassing the N14.38 billion generated in Q1 2021 with N12.43 billion.

It’s profit after tax also outperformed its rivals, with Eterna reporting N877.46 million in Q1 2022.
This is 244.8% higher than the N254.4 million recorded same period last year – representing a growth of N623.01 billion.
Read also: Banks loans to oil and gas companies jump to N5.68tn

Seplat – (73.6%)

Seplat was the second best performing company after growing its revenue to N100.61 billion in the first quarter 2022, a 73.6% difference (representing N42.68 billion) when compared to the N57.93 billion of last year Q1.

However, Seplat wasn’t so lucky, as its profit after tax depreciated by -12.2%, as the oil and gas firm closed Q1 2022 with N8.29 billion.
Seplat lost out on at least N1.15 billion, considering its profit after tax for the corresponding period of Q1 2021 was N9.44 billion.
Total (46.3%)

The foreign oil company generated N97.60 billion between January to March 2022, increasing its revenue by 46.3%. Which means Total added N30.91 billion to the N66.69 billion grossed in Q1 2021 – making it the third best performing firm in the sector, based on earnings tracked.

Total’s profit after tax grew faster than its revenue during the period under review, increasing by 46.9% (N1.39 billion) in Q1 this year, recording N4.36 billion.
The company surpassed the N2.97 billion it reported as profit after tax last year first quarter, making it one of three firms to report growth in PAT.
MRS (3.15%)

MRS reported the slowest growth of 3.15% among the companies analysed, as its turnover grew by N546.71 million to N17.89 billion, slightly above the N17.34 billion the oil firm reported in Q1 2022.

Following three months of operation, MRS was the only company to suffer a loss after tax, reporting N41.45 million loss during the period under review.
MRS recorded a poor performance, failing to surpass the N4.77 billion profit after tax recorded during the corresponding period of Q1 2021.
Conoil (-20.9%)

Year-on-year, Conoil’s turnover declined by -20.9%, with the company generating N26.14 billion in the first quarter this year, falling short by N6.94 billion when compared to the N33.09 billion grossed in Q1 2021.

Despite its revenue dip, Conoil managed to grow its profit after tax for the period of Q1 2022 by N133.29 million, to N557.22 million.
The oil and gas company’s profit after tax appreciated by 31.4% when compared to the N423.93 million Conoil reported as PAT in Q1 last year.
Note: The increment in oil price is yet to translate into higher earnings for the oil companies in Nigeria, as the Federal Government is yet to increase pump price to reflect market reality, and the firms are very much dependent on fuel subsidy.
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Posted at 19/5/2022 18:23 by swanvesta
Oh dear. Need a bigger brown envelope?

Https://uk.advfn.com/stock-market/london/seplat-energy-SEPL/share-news/Seplat-Energy-PLC-Response-to-media-on-proposed-ac/88163346?xref=newsalert
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Posted at 12/5/2022 16:56 by seatank8300
Rogerramjett, the dividend is paid 4x per year, currently at a level of US$0.025 (2.5 cents) quarterly, of which 10% is lost to withholding tax, so the net amount is 2.25 cents quarterly, or 9 cents aggregated over 12 months. That today equates to 7.38p annually, but fluctuates with the USDGBP FX. Today's share price is 122p, which means the share has a dividend yield of 6.05%.

More pertinently, the dividend costs the company around US$59m annually in cash out, which compares to Free Cash Flow of circa $180m under the strictest definition of FCF. So the company could pay out 3x if they wanted to, at current oil prices. Post Exxon deal, FCF should triple or quadruple. It will take the company 1 or 2 years to pay down debt from the acquisition, thereafter the company will generating >$600m of FCF annually in my view, which amounts to >70% of the market cap, at current oil prices.

Note that there are other cash generative catalysts besides, such as the new pipeline about to be commissioned, and the ANOH gas to liquids facility next year.

A 70% annual yield would certainly be nice, but I don't think it'll happen, even if the oil price stays >$100; far more likely that SEPL will make further acquisitions (e.g. Shell Nigeria) or invest in new gas assets or solar assets, but the dividend will rise. I expect it will at least double when ANOH is commissioned, in 12 months time (i.e. circa $60m additional EBITDA will paid out to shareholders). Still, the company will be generating too much cash to put to work, so I would expect the dividend to triple at least, ultimately. That would be 18% yield at today's share price, twelves months from now.

This is just my expectation, based on my own speculative judgements, but I fully believe in them.
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Posted at 21/4/2022 18:55 by seatank8300
Q1: 1.0 MMbbls @ $50/bbl & 1.0MMbbls @ $55/bbl;
Q2: 2.0 MMbbls @ $55/bbl;
Q3: 1.0 MMbbls @ $55/bbl

hxxps://www.seplatenergy.com/media/qqrahhro/seplat-energy-fy-2021-results-presentation-final-28022022.pdf

Whether they roll them forward or settle them and replace with much higher oil price level hedges, I don't know. Either way, cash generation should jump this year with the oil price at the current level. Operating cash flow was $369m in 2021. This year will see a good increase on that: oil price much higher, ampuke escravos pipeline operational, less production downtime due to bottlenecks, improved flow at OML 40 (Eland asset), hedges rolling off.
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Posted at 28/2/2022 09:56 by zengas
Sepl Revenue results this am end 2021 = $733m. Net debt $426m.
Acquisition costs $1283m - expect a reduction of about $200m due to consideration effective from 1/1/21.

Overall net debt becomes circa $1.5b. (Other $300m contingent consideration would be paid from share of oil above $70/b and non material as it works out at just paying $1-$2 per barrel extra from income above that $70/b mark.

2P OIL reserves = 650 mmbls (945 mmboe incl gas).
Oil production rises to about 115,000 bopd (146k boepd incl gas).
Would expect revenues to be $2+ billion.

Overtakes KOS/TLW at a stroke with i expect $500m - $1b less net debt yet 1.5 - 2X production and 2 - 4.5X reserves.

588m shares @ 110p = £650m m/cap.
Already paying $58m/yr dividend worth 7.4p/share.
Transformational deal so fair value should become £2-£2.50 (£2.50 = £1.47b m/cap).
Plus effect of having $500m minimum of less net debt is worth another 50p on the share price in comparing to TLW/KOS.
===============================================

Kosmos listed in London Aug 2017 with 389m shares and £5.20 = £2b m/cap + $1.28b net debt. Now 452m shares F/D and results out this am.

From 110 mmbls P2 in 2017 and today = 580 mmboe P2.

Year/Revenue/Production/Net Debt with (£ M/Cap in brackets).
2016 $310m/18,500 bopd/ $1.32b
2017 $578m/30,500 bopd /$1.28b (110 mmbls P2) (£2b m/cap)
2018 $886m/50,500 bopd/$2.12b (£2.8b m/cap)
2019 $1.5b/68,000 bopd/$2b (£2.1b m/cap)
2020* $804m/60,800 bopd/$2b (£2b - £350m/cap)
2021 $$1.32b/70,000 boepd/$2.59b (£1.53b m/cap)

------------------------------

Tullow from end 2016 with 914m shares , 2017 = 1386m shares and currently 1.43b shares in issue.
Also 550 mmbls reserves/resources end 2016 to 220 mmbls P2 now.
Year/Revenue/Production/Net Debt with (£ M/Cap in brackets).
2016 $1.27b/67,100 boepd/$4.8b (£3b m/cap)
2017 $1.7b/89,000 boepd/$3.5b (£2.7b m/cap)
2018 $1.9b/88,200 boepd/$3.1b (£2.43b m/cap)
2019 $1.68b/86,800 boepd/$2.8b (£989m m/cap)
2020* $1.396b/74,900 boepd/$2.37b (£425m - £140m m/cap)
2021 'Expected to be $1.3b/59,200 boepd/$2.1b' (£745m m/cap) .
"Oil production guidance is 55 to 61 kboepd 2022"
==============================

OilPrice.com historic Brent chart used . April 2017 $55/b with an average Nov 2017 - Jan 2020 of approx $65/b. Substantial crater in 2020 with recovery to and stayed over $65/b since March 2021. (2020* = Price crash/revenue & m/cap range).
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Posted at 25/2/2022 07:45 by krall
Huge for Seplat -

25 February 2022

PROPOSED CASH ACQUISITION

of

Mobil Producing Nigeria Unlimited ("MPNU")

by

Seplat Energy Plc ("Seplat Energy" or the "Company")



Lagos and London, 25 February 2022: Seplat Energy Plc, a leading Nigerian energy company listed on the Nigerian Exchange and the London Stock Exchange, is pleased to announce that it has entered into an agreement to acquire the entire share capital of Mobil Producing Nigeria Unlimited ("MPNU") from Exxon Mobil Corporation, Delaware ("ExxonMobil") (the "Transaction"). Completion of the Transaction is subject to Ministerial Consent and other required regulatory approvals.



Transaction summary

· Seplat Energy Offshore Limited, a wholly owned Nigerian subsidiary of Seplat Energy Plc, has entered into a Sale and Purchase Agreement to acquire the entire share capital of MPNU for a purchase price of $1,283 million plus up to $300 million contingent consideration, subject to lockbox, working capital and other adjustments at closing relative to the effective date

· The Transaction encompasses the acquisition of the entire offshore shallow water business of ExxonMobil in Nigeria, which is an established, high-quality operation with a highly skilled local operating team and a track record of safe operations, producing 95 kboepd (W.I.) in 2020
(92% liquids)



Transformational impact

· The Transaction will create one of the largest independent energy companies on both the Nigerian and London Stock Exchanges, and bolster Seplat Energy's ability to drive increased growth, profitability and overall stakeholder prosperity

· Based on 2020 pro forma working interest volumes for Seplat Energy and MPNU, the transaction delivers:

o 186% increase in production from 51 kboepd to 146 kboepd

o 170% increase in 2P liquids reserves, from 241 MMbbl to 650 MMbbl

o 14% increase in 2P gas reserves from 1,501 Bscf to 1,712 Bscf, plus significant undeveloped gas potential of 2,910 Bscf (JV: 7,275 Bscf)

o 89% increase in total 2P reserves from 499 MMboe to 945 MMboe[1]

o Includes offshore fields with dedicated, MPNU-operated export routes offering enhanced security and reliability



Supporting Nigeria's energy transition and objectives of the Petroleum Industry Act

· This is the first transaction to be announced since the Nigerian Government's recently ratified Petroleum Industry Act ("PIA"), and supports its key objectives

· Seplat Energy is fully committed to working with the Nigerian Government to bring these strategically important national assets fully into Nigerian ownership alongside NNPC

· Development of MPNU's gas resources will support the Federal Government's objective to achieve a pragmatic, progressive and just energy transition for Nigeria


Details of the Transaction

· Seplat Energy will acquire the entire share capital of MPNU from Exxon Mobil Corporation, Delaware (USA Incorporated), with an effective date of 1 January 2021 for a consideration of $1,283 million, subject to lockbox, working capital and other adjustments at closing relative to the effective date

· The Transaction agreement also includes potential additional contingent consideration of up to $300 million in total, payable over the period 1 January 2022 to 31 December 2026, and contingent upon average Brent crude oil prices exceeding $70 per barrel and subject to MPNU's average working interest production exceeding 60 kboepd (JV: 150 kboepd) in such calendar year

· The consideration implies an attractive EV / 2P metric of $2.9/boe, with significant gas upside potential

A strong operating portfolio

The MPNU portfolio primarily consists of:

· A 40% operating ownership of four oil mining leases (OMLs 67, 68, 70, 104) and associated infrastructure (NNPC is the 60% partner)

· The Qua Iboe Terminal, one of Nigeria's largest export facilities

· 51% interest in Bonny River Terminal and Natural Gas Liquids Recovery Plants at EAP and Oso

· It does not include ExxonMobil's deep-water assets in Nigeria

· MPNU will operate as a standalone subsidiary of Seplat Energy and upon closing and following receipt of requisite regulatory approvals, Seplat Energy will align MPNU with its overall strategic goals and ESG objectives
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Posted at 28/10/2021 08:40 by ashkv
Some bumps on the road due to pipeline issues in Q3 that curtailed production - However with ANOH Gas plant on track for Q2 2021 - huge catalyst underway and should easily double from current share price.

I wish SEPL announce a Share Buy Back along with their dividend....


28 Oct 2021 Unaudited results for the nine months ended 30 September 2021
Brent - $83
Share Price - 91
Market Cap GBP -£535,410,000
GBPUSD - 1.375
Market Cap USD -$736,188,750
Net Debt - $479,800,000
Inventory - $72,786,000
Decommisioning - $157,678,000
SEPL Guidance (48-50k FY 2021) -49,000
SEPL Actual Prod Q3 2021 - 47,280
SEPL Oct Current Production - 51,000
Enterprise Value (USD) - $1,215,988,750
EV/BARREL-USD Q3 2021 Production - $25,719
EV/BARREL-USD FY 2021 Guidance - $24,816
EV/BARRE-USD Current Oct-21 Production - $23,843
EV/B- Adj for INV & DECOM (Current Prod) - $25,507
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Posted at 28/10/2021 08:38 by ashkv
Some bumps on the road due to pipeline issues in Q3 that curtailed production - However with ANOH Gas plant on track for Q2 2021 - huge catalyst underway and should easily double from current share price.

I wish SEPL announce a Share Buy Back along with their dividend....


28 Oct 2021 Unaudited results for the nine months ended 30 September 2021
Brent - $84.20
Share Price - 91
Market Cap GBP - £535,410,000
GBPUSD - 1.375
Market Cap USD - $736,188,750
Net Debt - $479,800,000
Inventory - $72,786,000
Decommisioning - $157,678,000
SEPL Guidance (48-50k FY 2021) - 49,000
SEPL Actual Prod Q3 2021 - 47,280
SEPL Oct Current Production - 51,000
Enterprise Value (USD) - $1,215,988,750
EV/BARREL-USD Q3 2021 Production - $25,719
EV/BARREL-USD FY 2021 Guidance - $24,816
EV/BARRE-USD Current Oct-21 Production - $23,843
EV/B- Adj for INV & DECOM (Current Prod) - $25,507
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Posted at 18/10/2021 13:35 by deandavison245
OPINION
HEALTH
Home NEWS COVER STORIES
Investors Besiege Oil Companies’ Shares Over Rising Crude Prices
Olushola Bello by Olushola Bello 7 hours ago in COVER STORIES, Featured, NEWS
With the upward trend in global oil prices, investors are building positive sentiments around oil, thereby ensuring that the oil and gas sector on the Nigerian Exchange (NGX) Limited grew by N145.734 billion in the first nine months of the year.

The gain was triggered by the gains in the share prices of Seplat Energy, Eterna and Oando Plc.



Market observers said the current global oil trend suggests that the increase in the average Brent prices would translate to an increase in revenue for oil companies which should also reflect in the earnings per share.

Also, the Oil & Gas Index recorded the highest positive movement to reflect a growth of 62.37 per cent for the year-to-date (YTD) as of September 30, 2021. NGX Premium index followed with a gain of 117.27 per cent, while NGX Pension index rose by 11.79 per cent.

The NGX Oil & Gas Index comprises nine listed Oil and Gas Marketing companies: Ardova Plc, Conoil Plc, Eterna, Japaul Gold and Ventures, MRS Oil Nigeria, Oando, Seplat Energy, Total Nigeria and Capital Oil.

Capital market analysts said the growth in the NGX Oil & Gas Index was spurred by gains in the share prices of Seplat Energy, Eterna and Oando.

According to them, Seplat Energy, being one of the major players in the Nigerian upstream sector, the company’s share price has seen an impressive gain of 76.49 per cent from N402.3 in January to N710.00 as of September 30, 2021
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