Business
Interim Management Statement & Q3 2018 Results
Interim Management Statement & Q3 2018 Results.
About this update from Seplat Energy Plc
[{"type":"text","content":"\n \nRNS Number : 5967F SEPLAT Petroleum Development Co PLC 30 October 2018 \n\nSeplat Petroleum Development Company Plc\nInterim management statement and consolidated interim financial results for the nine months ended 30 September 2018\nLagos and London, 30 October 2018: 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 results for the nine months ended 30 September 2018. \nCommenting on the results Austin Avuru, Seplat's Chief Executive Officer, said:\n\"Seplat has continued to deliver on its production targets which, combined with an oil price tailwind, has resulted in yet another consecutive quarter of very strong financial performance and profitability. With the current business generating significant free cash flow and combined with our robust balance sheet which we are in the process of deleveraging further, we plan to build on this performance in the coming quarters as we step up organic development activities across our existing portfolio with headroom to also capitalise on inorganic growth opportunities as and when they may arise, in line with our price disciplined approach\".\nHighlights\nWorking interest production for the third quarter and first nine months of 2018(1)\n \n\n\n\n\n· \n\n\n9M working interest production of 50,834 boepd remains within guided range; full year working interest production guidance of 48,000 to 55,000 boepd is maintained\n\n\n\n\n· \n\n\nUptime on the Trans Forcados System during Q3 was 88% (year to date 80% in line with budget), while average reconciliation losses stood at 7%\n\n\n\n\n· \n\n\nRig based work on recompletion of Ohaji South oil production wells on OML 53 and one new gas production well at Oben on OMLs 4,38 and 41 set to commence in Q4\n\n\n\n\n \n\n\n\n\n \n\n\n \n\n\n9M Working Interest\n\n\n \n\n\nQ3 Working Interest\n\n\n\n\n \n\n\n \n\n\nLiquids\n\n\nGas\n\n\nOil equivalent\n\n\n \n\n\nLiquids\n\n\nGas\n\n\nOil equivalent\n\n\n\n\nProduction\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....