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Seplat Energy PLC - Lagos-based oil and gas company focused on Nigeria - In the nine months to September 30, says revenue rises 34% year-on-year to $618.6 million from $460.4 million. Pretax profit leaps 90% to $185.2 million from $97.4 million. Volumes lifted falls 11% to 4.9 million barrels of oil/gas from 5.5 million, but the average realised oil price rises 61% to $108.25. Average realised gas price dips 2.1% to $2.80. Declares quarterly dividend of 2.5 cents, unchanged from a year before, and brings total for the year-to-date to 7.5 cents.
"Despite an unusually challenging quarter for the Nigerian oil and gas industry, with key export routes being unavailable because of force majeure, we have demonstrated that we have a resilient business. The Amukpe-Escravos Pipeline has been operational since August and we have had our first oil export this month. The Trans Forcados Pipeline has now resumed operations and we continue to increase our use of alternative export routes, giving us confidence that the final quarter of the year will show some improvement in volumes," Chief Executive Officer Roger Brown.
Current stock price: 104.42 pence, up 1.9% in London on Thursday
12-month change: up 15%
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