…declares interim dividend of 2.5 cents per share
Seplat Energy Plc recorded a half-year 2021 financial results with profit before deferred tax of $62.1 million, representing an increase of 142.7per cent as against H1’20.
Highlights of the company’s financial further show that revenue went up 32 per cent to $308.8 million in H1’21, from $233.5 million in H1’20; earnings before interest, taxes, depreciation, and amortization of $178.9 million.
Other financial metrics are: Cash generated from operations ($125.8 million); cash at bank ($298.8 million) and net debt of $456.4 million.
In the half-year period, Seplat pronounced an interim dividend at a rate of US 2.5 cents Ordinary Share, subject to appropriate withholding tax, to be paid to Seplat Energy’s shareholders whose names appear in the Register of Members as at the close of business on August 12, 2021.
Both the Nigerian Exchange Limited and London Stock Exchange hosted Seplat Energy Plc on Thursday, July 29 to commemorate Seplat’s first dual Capital Markets Day.
The event marked an important milestone for Seplat marking its name change from Seplat Petroleum Development Company Plc to Seplat Energy Plc.
While the company’s total rebranding is underway, the leading Nigerian independent energy company listed on both the Nigerian Exchange and the London Stock Exchange announced their unaudited results for the half-year ended June 30, 2021.
The operational highlights show: working-interest oil and gas production within guidance at 50,786 barrels of oil equivalent per day (boepd); liquids production of 30,028 barrels of oil per day in H1 2021.
Gas production up by 21 per cent to 120 million standard cubic feet per day; Oben-50 and 51 gas wells completed in the period and producing; safety record extended to more than 20.5-million-man-hours without LTI on Seplat-operated western assets; while first liftings from Amukpe-Escravos Pipeline expected fourth-quarter 2021.
Seplat successful issue of $650 million 7.75 per cent senior notes to redeem existing $350 million 9.25 per cent senior notes and repay $250 million drawn on $350 million Revolving Credit Facility; Refinanced $100 million Westport RBL facility; raised a $50 million offtake linked to the RBL in July; and total capital expenditure of $57.5 million.
To enable Seplat’s Registrar, Datamax Registrars Limited, prepare for the payment of the interim dividend, the Register of Shareholders will be closed on August 13, 2021. The Qualification Date is at the Close of Business on August 12, 2021. Note that on the London Stock Exchange: The Associated Record Date will be August 12, 2021, and the Ex-Dividend date will be August 11, 2021.