SEPLAT Petroleum Development (GB:SEPL) has released an update.
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Seplat Energy Plc is set to complete its acquisition of Mobil Producing Nigeria Unlimited, a transformative deal that will more than double its production to approximately 120,000 barrels of oil equivalent per day. The $800 million acquisition, which boosts Seplat’s reserves by 86%, is fully funded through cash and debt facilities, positioning the company for significant growth and profitability. This strategic move enhances Seplat’s standing as Nigeria’s leading independent energy company, contributing to both its balance sheet strength and the broader Nigerian economy.
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