Seplat Energy Plc has repaid the outstanding $100 million balance of the debt raised to finance its acquisition of Mobil Producing Nigeria Unlimited (MPNU) in 2024.

The company said the repayment was completed on October 27, 2026, according to its unaudited results for the nine months ended September 30, 2026.

The report also disclosed that Seplat restored 41 wells under its idle-well restoration programme, including four gas wells, as part of efforts to boost production and strengthen its operational performance.

Commenting on the results, Engr. Effiong Okon, Chief Executive Officer of Seplat Energy, said: “In my first update as CEO, I am delighted to report another quarter of robust production growth, averaging over 155 kboepd in the third quarter of 2026, which puts us firmly on track to meet the upper half of our full-year guidance.

“This was delivered during a period of continued high crude oil prices. We realised $100.4 per barrel in the quarter, $10.2 per barrel above the average Brent price during the period, further enhancing our financial performance.

“Operationally, in our onshore business, we achieved record gas production levels during the quarter, supported by the continued solid ramp-up of ANOH and strong performance across our Western assets. We have a clear line of sight to further growth, underpinned by operational excellence as offshore gas production comes back online.

“The Yoho restoration project was completed during the quarter, although start-up has been delayed by pipeline damage identified during the period. Repairs are ongoing, and production is expected to commence in the fourth quarter of 2026. I am also pleased to announce exploration success at Aku-01, a strong reminder of the richness of our portfolio of prospects and the quality of Nigeria’s subsurface potential.

“Our strong financial performance supports the interim dividend payment of 19.0 US cents per share. When paid, the third-quarter 2026 dividend will take cumulative dividends declared since our initial public offering to more than $1 billion. We remain firmly on track to return our second $1 billion to shareholders as we deliver on our five-year plan, clearly demonstrating the financial robustness of our business.

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“As I take on the responsibility of leading Seplat into its next phase of growth, my engagements during the first three months in the role have inspired confidence in the quality of our people, the depth of our portfolio growth opportunities and the strength of our balance sheet.

“We are making significant progress with integration, and several initiatives are underway to further enhance our operational capabilities. With these foundations in place, I believe we are well positioned to deliver substantial growth and further reinforce our position as a leading energy provider in Nigeria, a region of increasing strategic importance to global energy markets.”