SEPLAT Petroleum Development (GB:SEPL) has released an update.
Seplat Energy PLC reported a first-quarter 2024 production of 49,258 barrels of oil equivalent per day, slightly down from the same period in 2023, yet surpassing last quarter’s figures and remaining within annual guidance. Financially, the company saw a decrease in revenue to $179.8 million and declared a dividend of US3.0 cents per share, despite a challenging quarter marked by reduced cash flow and increased net debt. Seplat continues to progress on strategic projects, with new hydrocarbon discoveries and the anticipated approval of a major acquisition.
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