Seplat Energy Plc has achieved a new milestone, with its shares climbing to an all-time high of N16,000 on the Nigerian Exchange Limited (NGX). This impressive surge marks a 175.44% increase year-to-date, driven by heightened investor demand.
On September 24, Seplat's stock closed at N16,000, up N1,092.20 or 7.33% from the previous trading session. The rally has significantly boosted the company's market capitalization to N9.599 trillion.
Market Impact
The surge in Seplat's stock has also positively impacted the NGX Oil/Gas Index, which rose by 3.95% to close at 6,252.0 points. Other oil and gas stocks experienced mixed performances, with Eterna Plc gaining 1.3% while Oando declined by 0.97%.
This rally coincides with rising global oil prices amid geopolitical tensions. Brent crude prices have jumped over 3% to above $106 per barrel, reflecting concerns about energy security in key shipping routes.
Strong Financial Performance
Seplat's stock performance is underpinned by robust financial results, with a 74.1% increase in profit before tax for the first half of 2026, reaching N790.4 billion. Revenue also rose by 15.5% to N2.50 trillion, supported by increased production levels.
With a production increase to 139,509 barrels of oil equivalent per day, Seplat is well-positioned for continued growth, having consolidated its offshore assets and enhanced onshore output through strategic investments.