Lagos — Seplat Energy Plc has lowered its 2026 capital expenditure (capex) guidance to between $280 million and $340 million, according to the Nigerian energy company's unaudited third-quarter results released on Thursday.
The company reported adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of $1.53 billion for the first nine months of 2026, representing a 38% increase year-on-year.
Seplat's working-interest production averaged 155,801 barrels of oil equivalent per day (boepd) in the third quarter, up 13% from the same period last year.
The company declared a third-quarter dividend of 19 cents per share, equivalent to approximately $114 million. The payout includes a special dividend of 14 cents per share.
Seplat also intends to pay a transaction-related dividend of 23.3 cents per share, amounting to approximately $140 million, following the completion of the NNPCL-SEPNU sale.
The reduced capital expenditure guidance comes alongside stronger earnings and higher production, highlighting the company's financial and operational performance during the first nine months of the year.
Source: Reuters
