Business
Interim Management Statement & Q1 2019 Results
Interim Management Statement & Q1 2019 Results.
About this update from Seplat Energy Plc
[{"type":"text","content":"\n \nRNS Number : 4733X SEPLAT Petroleum Development Co PLC 30 April 2019 \n \n \nSeplat Petroleum Development Company Plc\nInterim management statement and consolidated interim financial results for the three months ended 31 March 2019\nLagos and London, 30 April 2019: Seplat Petroleum Development Company Plc (\"Seplat\" or the \"Company\"), a leading Nigerian independent oil and gas company listed on both the Nigerian Stock Exchange and London Stock Exchange, today announces its first quarter results. Information contained within this release is un-audited and is subject to further review.\nCommenting on the results Austin Avuru, Seplat's Chief Executive Officer, said:\n\"Our operations have continued to perform in line with expectation, with the phasing of our 2019 work programme such that the production uplift will be felt throughout the second half of the year as we step up drilling activities to focus on capturing the numerous high margin and short-cycle cash return opportunities within our current portfolio. The next phase of growth for our gas business is now gathering pace following FID for the ANOH project, with governments first tranche of equity investment received. We have continued to deleverage the balance sheet and self-fund investments into the existing portfolio from operational cash flow, while retaining the financial flexibility and available resources that will enable Seplat to capitalise on what we expect to be an increasingly busy pipeline of inorganic growth opportunities that fit our acquisition criteria.\"\nQ1 2019 Results Highlights\n\n\n\n\nWorking interest production\n\n\nGross\n\n\n \n\n\nWorking Interest\n\n\n\n\n \n\n\n \n\n\nLiquids(1)\n\n\nGas\n\n\nOil equivalent\n\n\n \n\n\nLiquids\n\n\nGas\n\n\nOil equivalent\n\n\n\n\n \n\n\nSeplat %\n\n\nBopd\n\n\nMMscfd\n\n\nBoepd\n\n\n \n\n\nBopd\n\n\nMMscfd\n\n\nBoepd\n\n\n\n\nOMLs 4, 38 & 41\n\n\n45.0%\n\n\n43,915\n\n\n318\n\n\n98,795\n\n\n \n\n\n19,762\n\n\n143\n\n\n44,458\n\n\n\n\nOPL 283\n\n\n40.0%\n\n\n3,199\n\n\n-\n\n\n3,199\n\n\n \n\n\n1,280\n\n\n-\n\n\n1,280\n\n\n\n\nOML 53\n\n\n40.0%\n\n\n2,107\n\n\n-\n\n\n2,107\n\n\n \n\n\n843\n\n\n-\n\n\n843\n\n\n\n\nTotal\n\n\n \n\n\n49,221\n\n\n318\n\n\n104,101\n\n\n \n\n\n21,885\n\n\n143\n\n\n46,581\n\n\n\n\n(1)  ...