Seplat Energy Plc · LSE:SEPL
Seplat Energy — Pareto Annual Energy Conference 2024
15 slides from Seplat Energy's conference presentation, September 2024
Slide 1: Seplat Energy - Pareto Energy Conference
PARETO ENERGY CONFERENCE SEPLAT ENERGY ‘ ELEANOR ADARALEGBE CFO reliable energy, limitless potential
Slide 2: Important Notice - Disclaimer
IMPORTANT NOTICE Disclaimer FORWARD-LOOKING STATEMENTS This presentation may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Company's control and all o
Slide 3: Seplat Energy at a Glance
SEPLAT ENERGY AT A GLANCE 2P RESERVES OF 478 MMBOE DUAL LISTED IN LONDON AND US$1.4BN MARKET CAP (end 2023, 7 onshore blocks) LAGOS (at 6th September 2024) Tickers: SEPLAT – NGX SEPL – LSE PRODUCTION 48,407 BOEPD NIGERIA’S LEADING NET DEBT $366m (6M 2024, 61% OIL, 39% GAS) INDEPENDENT ENERGY COMPANY
Slide 4: Oil Upstream Assets
OIL UPSTREAM ASSETS Seven onshore blocks in the prolific Niger Delta, ideally located for oil exports and internal gas demand centres OIL FACTS Oben (OML 4) and Sapele (OML 41) are the largest onshore oil fields, containing a little over 50% of our reported 2P reserves Fields are mature, proven
Slide 5: Gas & Midstream Assets
GAS & MIDSTREAM ASSETS Gas sold to the domestic market. Gas processing facilities linked to major demand centres GAS FACTS Operate 3 Gas processing facilities; OBEN (operational), SAPELE (under construction) and ANOH (under construction, operated by Seplat-NNPC IJV: AGPC) 100% gas processed for
Slide 6: Celebrating 10 Years as a Listed Company
CELEBRATING 10 YEARS AS A LISTED COMPANY The journey to becoming Nigeria’s leading independent energy supplier JULY 2010 MAY 2012 JUNE APRIL 2014 MARCH 2017 MARCH 2018 DECEMBER 2019 MARCH 2021 FEBRUARY 2022 FEBRUARY Acquired Drilled first of 2013 IPO & dual 225 MMscfd Successfully Completed Successf
Slide 7: Strategic Focus 10 Years on from IPO
STRATEGIC FOCUS 10 YEARS ON FROM IPO Seplat has delivered significant value enhancing strategic, operational and financial achievements in 10 years as a listed company OBJECTIVES AT 2014 IPO ACHIEVEMENTS UP TO END 2023 • 2023 gross production averaged 106 kboepd Maximise production and • 85 kboepd g
Slide 8: Historical Operating Track Record
HISTORICAL OPERATING TRACK RECORD Strong history of growing and sustaining production, achieving a production CAGR of 8% Historical annual production (boepd) Historical 2P reserves (mmboe) Liquids Gas Liquids Gas 49,867 51,183 509 47,693 47,758 48,407 499 46,498 480 477 481 478 17,469 44,104 462 457
Slide 9: Consistent Cash Generation Funds Growth
CONSISTENT CASH GENERATION FUNDS GROWTH Since April 2014 IPO: generated c.$3.5bn CFFO and c.$1.8bn in FCF after investing c.$1.7bn in capex Historical Net Cash Flow from Operations ($m) vs Realised Oil Price ($/bbl, RHA) 2013 – 2024 YTD 600 120 502 499 500 447 444 100 Notes on historical cash flow 4
Slide 10: Rewarding Shareholders
REWARDING SHAREHOLDERS Strong history of returning cash to investors with cumulative dividends of $628m paid till date Material: Historical Cash Dividend Payments ($m, 2014 – 2023) Material $120 $3c/shr declared for 2Q 24 $99 $100 $15c/shr declared for 2023, inclusive of $80 $73 $72 $73 $12c/shr
Slide 11: Balance Sheet Supports Strategic Ambitions
BALANCE SHEET SUPPORTS STRATEGIC AMBITIONS Low leverage and strong liquidity supports strategy GROSS CASH GROSS DEBT NET DEBT $372m (1) $737m (2) $366m (YE23, $450m) (YE23, $756m) (YE23, $306m) Low and stable leverage: Quarterly Net Debt Sufficient available liquidity Simple, effective hedging polic
Slide 12: Seplat's Positive Community Impact
SEPLAT’S POSITIVE COMMUNITY IMPACT Well established commitment to improve quality of life for local communities around our operations HEALTHCARE EDUCATION EMPOWERMENT Eye Can See in action EYE CAN SEE SCHOLARSHIPS ENTREPRENEURS 4,560 (WA&EA) 780 EMPOWERMENT Eye surgeries performed National Undergrad
Slide 13: 2024 Growth Opportunities
2024 GROWTH OPPORTUNITIES Significant suite of opportunities to materially enhance portfolio scale and diversification while reducing emissions intensity Sapele Gas 2024 Acquisition of MPNU ANOH Gas Abiala Plant Delivery Increase gas, LPG Potential to more than double Seplat Potential to double Sepl
Slide 14: MPNU Transformational Transaction
MPNU TRANSFORMATIONAL TRANSACTION Progressing towards approvals and subsequent completion POSITIVE PROGRESS Withdrawal of court injunction in mid-June enabled resumption of activity to progress the transaction to completion Next Steps: 1. Regulatory approvals 2. Operational readiness 3. Publicat
Slide 15: Thank You
THANK YOU Lagos London reliable energy, limitless potential