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
  1.50 1.49% 102.50 41,691 16:35:28
Bid Price Offer Price High Price Low Price Open Price
101.00 102.00 103.50 101.00 102.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 387.99 -58.67 -9.51 578
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:28 UT 6,279 102.50 GBX

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Seplat Energy Daily Update: Seplat Energy Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker SEPL. The last closing price for Seplat Energy was 101p.
Seplat Energy Plc has a 4 week average price of 88p and a 12 week average price of 82.60p.
The 1 year high share price is 110.50p while the 1 year low share price is currently 50p.
There are currently 563,444,561 shares in issue and the average daily traded volume is 110,830 shares. The market capitalisation of Seplat Energy Plc is £577,530,675.03.
deandavison245: Oil prices advanced on Wednesday as plummeting US crude oil stockpiles bolstered sentiment, offsetting concerns about the OPEC+ stalemate and a spike in Covid-19 cases. The spot price of Brent crude oil, the North Sea benchmark, rose to USD76.03 a barrel on Wednesday at about 1100 BST, from USD75.53 on Tuesday at around the same time. The US benchmark West Texas Intermediate spot price inched up to USD74.77 a barrel from USD74.35. Oil prices are rising as concerns about depleting US crude oil stockpiles outweigh concerns about an increase in Covid-19 cases caused by the coronavirus Delta variant, said AvaTrade chief market analyst Naeem Aslam. OANDA analyst Sophie Griffiths said both futures contracts are holding near their weekly highs after US crude oil inventory data revealed that stockpiles fell for an eighth straight week as demand continues to outstrip supply. Crude inventories declined by 4.1 million barrels for the week ending July 9, the American Petroleum Institute reported on Tuesday. Attention will now turn to the American Petroleum Institute, which will release official crude stockpile data on Wednesday. "While OPEC+ is yet to agree to production increases, a cloud of uncertainty hangs over the oil market. Oil prices are unlikely to retake the multi-year high reached earlier this month while the OPEC+ impasse continues," Griffiths said. Nearly two weeks ago, OPEC and its allies failed to seal a production agreement because the United Arab Emirates rejects the proposed modest rise in output by 400,000 barrels per day each month from August to December. Griffiths also noted that a report that Chinese crude oil imports dropped in the first half of 2021 compared to a year earlier has raised some questions over demand, taking the edge off Tuesday's strong rally in oil prices.
krall: Seplat excited over potential of Nigeria’s new PIB Jul 12, 2021 Seplat Energy Plc, Nigeria’s biggest oil and gas exploration and production company said it hopes passage of the country’s long-awaited Petroleum Industry Bill by lawmakers will spur investment into the country’s petroleum industry. “The PIB in place gives everyone the visibility of what the new roles are, so we’re excited,” CEO Roger Brown said in an interview in Lagos. “People know what the rules are and can invest more.” The bill, which took about two decades of deliberation, is expected to remove legal and regulatory uncertainty that’s held back the growth of the oil and gas sector once it gets signed into law by Nigeria’s President Muhammadu Buhari. Although, some aspects of the bill are “negative̶1; to the operations of Seplat, on a balance it’s positive to the company’s operations, according to Brown. The governors from the nation’s southern states have demanded a review of some provisions in the legislation including the share of oil revenue that will go to host communities. As an indigenous oil and gas company, Seplat will continue to invest in Nigeria even without the new law, Rogers said. “What excites me most is that we’ll have stability, and the legislation as passed is key.” The firm is looking for “onshore and shallow water’’ assets for acquisition, according to the CEO. It is targeting offers from the international oil companies divesting from the country as well as local firms selling their “quality”; assets, he said. Gas Expansion With increasing uncertainty over future demand for oil and the shift to renewables globally, Seplat plans to focus on gas to drive future income and profitability. The company, listed in London and Lagos, changed its name last month to Seplat Energy from Seplat Petroleum to reflect a transition to full energy solutions provider. It plans to increase gas investments to shore up its contribution to revenue to as much as 50% by the next five years from 30% and probably overtake oil at some point, according to the chief executive. “Gas will be the baseload which will launch the spring board into renewable energy and renewable energy must be part of Nigeria’s future,” Brown said. Africa’s biggest economy is trying to shift away from its reliance on crude oil by encouraging investments to develop its more than 200 trillion cubic feet of proven gas reserves to power manufacturing and electricity industries, even as it aims for net-zero emissions in the future. It pledged to cut carbon emissions 20% by 2030 under the Paris Climate Agreement. “In five years, oil will be relevant; in 30 years I think gas is going to be more relevant into the future,” Brown said. “Developing gas is very critical.” Seplat is looking to deliver ANOH, a key gas-processing plant, with a daily capacity of 300 million standard cubic feet by the first half of next year, then plan an expansion of the project, Brown said. It is in talks with governments in the country’s southeast, as well as Waltersmith, a private oil company, on ways to develop the gas market in the area, he said. “We firmly believe there’s big gas demand in the country but you have to make sure your market is there,” the CEO said. “We see ourselves as a company, among others, that will develop the domestic gas market.” Source: Bloomberg
deandavison245: Oil prices advanced on Friday, regaining their mojo following upbeat official US crude oil inventory data, but lingering worries around the OPEC+ stand-off capped further gains. The spot price of Brent crude oil, the North Sea benchmark, drifted higher to USD74.81 a barrel on Friday at about 1100 BST, from USD72.86 on Thursday at around the same time. The US benchmark West Texas Intermediate spot price rose to USD73.72 a barrel from USD71.39. Oil prices appear to have found a floor, pushing higher for a second straight session on Friday following positive US crude oil inventory data, said OANDA analyst Sophie Griffiths. The US Energy Information Administration released official weekly crude oil inventories on Thursday. The declined by 6.9 million barrels in inventories during the week ending Friday last week exceeded expectations. "Expectations had been for a 4 million barrel draw," Griffiths said. "The larger-than-forecast draw supports the view that demand is rising amid the economic reopening and as the summer driving season ramps up." The rise in oil prices on Friday, she said, was insufficient to make up for lost ground earlier in the week, with prices set to book their first weekly loss in six weeks. However, gains in oil prices are likely to remain capped amid the ongoing OPEC+ spat, Griffiths said. The United Arab Emirates is at loggerheads with other OPEC members and allies of the cartel over output hikes from August. The world's leading oil producers have proposed a rise in production by 400,000 barrels per day each month from August to December. That would add 2 million barrels per day to markets by the end of the year, helping to fuel a global economic recovery as the coronavirus pandemic eases. "While Saudi Arabia and the UAE are still at odds over raising output, oil prices are unlikely to retake recent multi-year highs," OANDA's analyst said, adding that growing concerns over rising cases of Delta variant of Covid-19 could also act as a brake on oil prices. AvaTrade Chief Market Analyst Naeem Aslam warned that commodity traders should keep in mind that due to failed talks between OPEC and its allies the supply of oil could skyrocket. "The possibility that the cartel will abandon output limits adds to the ever-increasing uncertainty," he said.
deandavison245: Things to consider 3 Peak oil. This article has been edited from its original version. It was originally published in its entirety in the International Monetary Fund's Summer 2021 issue of Finance & Development magazine. Rabah Arezki is chief economist at the African Development Bank and a senior fellow at Harvard University's Kennedy School of Government. Per Magnus Nysveen is senior partner and head of analysis at Rystad Energy. The opinions expressed in this commentary are their own. After a pandemic and a price war sent petroleum prices tumbling in 2020, they are again on the rise. A new oil price super cycle -- an extended period during which prices exceed their long-term trend -- seems to be in the making. That's being driven by pervasive supply shortages from the lack of investment that has continued since the 2014 collapse in oil prices and, more recently, reduced investment in shale oil production. In addition, demand growth has been triggered by a strong recovery in countries such as China, a big stimulus package in the United States and global optimism about vaccines. Nevertheless, this could be the last super cycle for oil because major economies appear committed to replacing fossil fuels, and car manufacturers have responded by committing to replacing internal combustion engine vehicles with electric vehicles. This shift will transform the oil market into one consistent with climate goals. But it also poses a risk of disorderly adjustment for economies dependent on oil, with far-reaching effects that in some cases could spill over their borders. Oil investment crunch Even with relatively lower oil prices, extraction and exploration companies have been highly profitable. At the same time, perhaps in recognition of a less buoyant future, they have reduced their investment. Production in oil fields and the number of wells are declining, and reserve depletion is rapid. The drop in both capital expenditure and replacement of oil reserves has persisted since 2014. Covid has exacerbated the investment decline. For example, shale oil output -- which has a shorter production cycle and therefore is more sensitive to changes in investment -- is now increasing by half a million barrels a year, compared with 2 million barrels a year before the onset of the pandemic. While the Biden administration's announced ban on drilling on federal land in the United States will have little direct impact on shale production, it signals a shift in federal government sentiment against the oil industry. Shale producers have adopted a noticeably more cautious investment posture. This reduced investment will lessen the role of shale as swing production and plants the seeds of a price super cycle. The debate over peak demand Several commentators and major oil market players, including BP (BP) and Shell, argue that global demand for oil peaked in 2019 at about 100 million barrels a day and that it will never again reach that level because of pandemic-related structural changes. That view seems supported by the sharp reduction in oil consumption for transportation, including jet fuel. After travelers started cancelling flying plans in March 2020, jet fuel consumption collapsed and has only began to creep up as travel restrictions start to ease. it is expected that oil consumption will continue to recover, but to a level lower than what prevailed before the pandemic -- effectively the peak of oil consumption. Yet proponents of the view that oil demand has peaked overlook the structural increase in consumption that will eventually offset any downward shift from Covid. Rising living standards and a growing middle class in China and India will lead to increased demand for individual cars and air travel. So even if economic growth slows, the large numbers of people crossing the income threshold that enables them to afford a car will support demand for travel. In emerging markets such as China and India, any shift toward electric vehicles will likely be slower than in advanced economies given concerns over the availability of charging stations. The rate of adoption of electric vehicles will, by and large, be the major driver of future oil demand because road fuel accounts for half of global oil demand. The increase in oil demand, together with a persistent reduction in production from insufficient investment, will likely precipitate -- and keep alive for some time -- an oil price super cycle. But will an increase in oil prices prompt more investment and lead to another price bust as has happened in the past? Technology and its consequences Technological innovation may make things different this time. Large investments will likely be discouraged by the new technology at the heart of carmaker plans to replace internal combustion engine vehicles with those that run on electricity. A frenetic ramping up of production of electric vehicles is not without risk, however. It could cause supply to exceed demand -- which would lead to negative cash flows, illiquidity and bankruptcies of car manufacturers. The automakers' bet is driven both by the commitment of governments to achieving zero net carbon emissions and by the belief that consumers will want to adopt cleaner modes of consumption -- transportation accounts for about a quarter of global energy-related carbon dioxide emissions. Why airfares will likely keep getting more expensive Mass manufacturing will also eventually make the price of electric cars attractive, and a spike in oil prices would hasten the conversion. This last oil price super cycle will be consistent with climate goals and associated with commitments by large economies to net zero carbon emissions in the medium term. However felicitous that will be for the global climate, however, it poses a risk that the oil reserves so many oil-dependent economies count on will be less valuable -- especially for reserves where extraction costs are high. The reserves and the investment surrounding them become, in effect, stranded assets. That could lead to severe economic woes, including bankruptcies and crises, in turn leading to mass migrations, especially from populous oil-dependent economies, many of them in Africa. Other larger oil dependent economies in the Middle East, central Asia and Latin America are also an important source of remittances, employment and external demand for goods and services that benefit many neighboring countries. The end of oil, then, could not only devastate oil-dependent economies but could also overwhelm their neighbors. Oil-rich countries must diversify to become resilient to the changes in energy markets. An appropriate governance framework to manage proceeds from oil in good and bad times has always been important to fostering economic diversification. But with stranded assets a new risk, radical shifts in governance in oil-dependent economies are urgent. Dubai, for example, facing the depletion of its oil reserves, transformed itself into a global trade hub. Countries and businesses reliant on these markets must formulate policies to address this transformation, including the development of renewable energy. To jettison their hidebound economies, which have led to low productivity and waste, oil-rich economies should commit to reforms that lessen obstacles to innovation and entrepreneurship. Reforming corporate governance and legal systems, promoting markets that have no barriers to entry and exit, and ending favoritism for both state-owned enterprises and politically connected private firms will help attract investment and change attitudes toward innovation.
deandavison245: Current shares SAVE 171% 1 year return SEPL 88% 1 year return LEK ADME LEK seems a troubled share, even for Nigeria SAVE currently suspended, waiting on news.
krall: Q2 - What to expect? There is a new presentation on the website. hxxps:// On page 24 we see: - Oil Business Perfomance - Average W.I. production in 3M 2021 28,541 boepd - Production has recovered strongly since quarter ended, nearly 34kbopd achieved in April and higher in May. (June we dont know anything about but trend looks intriguing and Nigeria OPEC+ volumees has improved. +34000 barrels of oil per day would be a record for SEPL) page 25: GAS BUSINESS - Q1 114 MMscfd (W.I.) achieved across the quarter - Two new gas wells expected to produce 75MMscfd combined (gross) - Oben-50 completed January, Oben-51 completed March. (That´s gross 10000boepd, means gas behind pipe for contracted volumees should not be a problem) All the signs are there for a good Q2 and with capitals day coming up it feels good.
seatank8300: Seplat is already producing oil which generates millions of dollars legally allowed to be paid out to shareholders, while their gas business generates Naira (priced in dollars) that funds their doemstic growth capex for the future. ANOH will produce a mix of gas and condensate (which will generate dollars). Seplat sells its gas into the major part of the main grid where most industrial users are, whereas I believe SAVE's gas infrasturcture supplies a relatively smaller market where there isn't a great deal of industrial activity currently. It's not to say SAVE doesnt have an interesting story, but Seplat is an altogether different animal in my view. Seplat has a strong balance sheet, profitable producing fields, pays out large dividends already, and is likely to further consolidate the domestic industry. On my calculations at the current oil price it's trading on <3.0x PE, which is insane value for the cornerstone of Nigeria's domestic energy industry.
seatank8300: I posted an explanation on the LSE discussion board about the share pricing differential. The difference between SAVE and Seplat is: 1. SAVE's infrastructure is located in the backwaters of the country with relatively little industrial activity 2. SAVE primariy sells gas, whose price is set in dollars but paid in Naira, and Naira can not currently be repatriated offshore, so there is no chance of a dividend until the central bank changes it's policy (it's been years already); whereas Seplat produces oil which is priced in dollars and paid in dollars, and therefore profits can be repatriated at the company's will to pay us shareholders dividends, which they do. That's the difference; but I still like SAVE, it's very cheap and in the long run it should work out well. Seplat though is a totally different and superior beast - it's a major infrastructure asset, an indigenous consolidator in the sector, very profitable, with a strong balance sheet and paying a big dividend that is likely to rise considerably over the coming 12 months. Easy choice between the two in my view.
krall: Also in both, in favor of SEPL. Both very well set up for taking advantage of the huge domestic NG growth in Nigeria. And by no means competitors, SEPL main route is towards northwest/west, SAVE has for now their pipeline system in south/southeast. Market is more than big enough for both for years to come. SEPL oil bizz is very strong, and there´s some nice, very sizeable exploration prospects to start of with in OML 40, hopefully we see a well there in 2021. I think Nigeria´s oiltargets are more exiteing than frontier work in landlocked Niger. On the negative Sepl has some bad hedges, not big contracts but low for Q1 2021. If you run the numbers, im not completly updated, you will see that SEPL has the lower reserv and flowing barrel valuation. Ive held positions in Nigerian oilers like Mart, MP Nigeria, HOIL earlier with mpst of the times good success, but be prepared to expeince hickups, in Nigeria they will come in one from or another. Key thing is to stay with wellfinanced companies.
krall: Latest news on the ANOH project - hxxps://;lang=en-GB&companycode=ng-sepl&v=redesign The last part of financing is now closed. Over subscribed and provided by a consortium of seven banks. The Anoh project is big, ths single largest domestic project targeting a lot of reserves, big production numbers for drygas, condensate and LNG. To bring gas to the big domestic markets in Lagos/Abudja they need to link it up with a new huge pipeline the “OB3” that will transport the gas from AHOH to Seplats Oben gas infrastructure and from there to end users. The OB3 pipeline is critical and needs to in use AND it is a project Seplat is not involved in and have no control over. There has of course(...) been delays it has been 90% complete for some years now, the old contractors failed to make the Niger river crossing complete 4 or 5 times. Last year they where set aside and changed to a Chinese pipeline company and it is supposed to be commissioned any day now. Point is – I don’t think Seplat and partners would have closed this last part of financing unless they are as sure as they can be that the pipeline will be ready to deliver gas when ANOH is scheduled for start up in Q4. The news release has some interesting info – “Following a cost optimisation programme, the AGPC construction cost is now expected to be no more than US$650m, inclusive of financing costs and taxes, significantly lower than the original projected cost of US$700m”, a testament to Seplats project team and how many times have we seen a project in Nigeria coming in below budget. -“Seplat is a leading provider of natural gas to Nigeria's power sector, supplying around 30% of gas used for electricity generation.”, that´s before the ANOH comes on stream. I really think SEPLAT is at the right place at the right time, they are way ahead of almost all serious competitors working with Domestic gas in Nigeria. They made the gamble some 10 years ago buying blocks from Shell when gas was selling for less than 1$, business was big time negative, now it has changed it´s has very healty economics. Okechukwu Mba, Managing Director of ANOH Gas Processing Company said: "Successfully closing the US$260 million debt facility means that the ANOH project is now fully funded. Once operational, AGPC will be a significant supplier of gas to Nigeria's power sector, supporting local employment and the cleaner generation of power for Nigerian homes and businesses. We conservatively estimate that the gas from AGPC will be enough to generate electricity for more than 5 million people". Roger Brown, Chief Executive Officer of Seplat, said: "Completing the funding of ANOH is an important milestone for AGPC. The ANOH development is one of the government's Seven Critical Gas Development Projects and our involvement provides a clear path towards strengthening Seplat's position as Nigeria's leading indigenous diversified energy producer. It will help us drive, alongside our government partners, Nigeria's transition to cleaner, less expensive power generation. We are extremely proud to partner with the Nigerian Gas Company in this strategically important project, which will create jobs and prosperity in the Nigerian economy. Seplat will continue to diversify its business and invest in gas to help Nigeria develop its own natural resources, which in turn will drive more sustainable social and economic growth for a young, rapidly growing population."
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