Seplat, Co-founded By Austin Avuru, Posts 809 Million Revenue In Q1 2025

Seplat Energys Q1 2025 revenue surged 350 to 809.3 million, fueled by higher oil and gas production and the consolidation of SEPNUs assets.

Adjusted EBITDA rose 226 to 401 million, while cash from operations jumped to 306.5 million, reflecting strong operational execution and drilling expansion.

Profit after tax rebounded to 23.3 million from a 1.9 million loss, driven by production growth, debt reduction, and operational efficiency improvements.

Seplat Energy Plc, the energy conglomerate co-founded and partly owned by Nigerian energy tycoon Austin Avuru, delivered an impressive financial performance at the end of the first quarter of its 2025 fiscal year, with revenue exceeding 800 million.

Renowned for its focus on Nigerias Niger Delta regions oil and gas sector, Seplat Energy has solidified its position as the largest listed energy group on the Nigerian Exchange, under the strategic guidance of its co-founder Austin Avuru.

The unaudited results for the three months ended 31 March 2025 showcase a robust performance, with revenue reaching N1.23 trillion 809.3 million from N268.6 billion 179.8 million, indicating a 350.11-percent increase.

Growth was fueled by a 224 percent jump in crude and condensate production to 9.0 MMbbls and a 50 percent rise in gas output to 14.9 Bscf, driven by the consolidation of SEPNU and an active drilling program across onshore assets.

Despite higher unit production costs 12.6/boe, up from 9.5/boe, Seplat maintained strong financials. Adjusted EBITDA rose 226 percent to N607.6 billion 401 million, while cash flow from operations climbed to N464.9 billion 306.5 million from N25.2 billion 16.8 million.