Seplat Energy Plc recorded $62.1 million profit before deferred tax (PBT) in its half year (H1) 2021 financial results even as the board has approved an interim dividend of United States 2.5 cents per share to be paid to shareholders.
The PBT declared translates to an increase of 142.7per cent as against half year 2020.
Similarly, its revenue went up by 32 per cent to $308.8 million in H1, 2021 from $233.5million in H1, 2020 while its earnings before interest, taxes, depreciation, and amortisation (EBITDA) was $178.9 million. Cash generated from operations was $125.8 million, cash at bank stood at $298.8 million and net debt of $456.4 million was recorded in the half year under review.
Following the impressive results, Seplat has declared an interim dividend of US2.5 cents per ordinary share, subject to appropriate withholding tax (WHT), 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 (NGX) Limited and London Stock Exchange hosted Seplat Energy Plc last Thursday, precisely, July 29 to commemorate Seplat’s first dual capital markets day.
The event marked an important milestone for Seplat and its name change from Seplat Petroleum Development Company Plc to Seplat Energy Plc.
While the company’s total rebranding is underway, the firm announced its unaudited results for the half year (H1) ended June 30, 2021.
The operational highlights showed: 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 (bopd) in H1 2021, gas production up 21 per cent to 120 million standard cubic feet per day (MMscfd); 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 is expected in the fourth-quarter (Q4) 2021.
The chief financial officer, Emeka Onwuka, said: “shareholders who have a dividend currency option, must make the election to the company’s registrars by August 27, 2021, otherwise the dividend will be paid in the default currency. The election form will be sent out to the relevant shareholders and can also be found on the company’s website. Those shareholders holding their shares on the Nigerian Exchange Limited who hold a valid CCI should notify SEPLAT’s Nigerian Registrars, DataMax Registrars Limited (DataMax), of that fact.”