- The breakdown of the new wells by Seplat includes 11 dedicated to oil production and 2 focused on gas production.
- Seplat’s exchange rate for determining its final and special dividend payout to qualified shareholders receiving their dividends in naira is N1,309.88 per $1.
Seplat Energy Plc, a Nigerian energy company, has announced its drilling programme for 2024, targeting the delivery of 13 new oil and gas wells across its operated and non-operated assets.
According to the firm’s unaudited results for the first quarter ending March 31, 2024, the breakdown of the new wells includes 11 dedicated to oil production and two focused on gas production.
The energy company noted that its drilling program successfully delivered one well from the 2024 drilling program, Ovhor21, in the first quarter of 2024. In addition, the program completed two wells, Okporhuru-9 and Sapele-37, spudded towards the end of 2023.
Seplat Energy added, “Sapele-37 and Okporhuru-9 had multiple targets in their respective initial plans, and each recorded notable positive results. Each well had secondary exploration targets in previously untested deeper stratigraphy in OML 41.
“We are pleased to announce the discovery of hydrocarbons, predominantly gas, in both wells. Okporhuru -9 well discovered multiple hydrocarbon-bearing intervals in deeper formations. While the Sapele-37 well (previously Sapele-N) encountered hydrocarbons in deeper reservoirs, as well as proving up a northern extension to the Sapele field”.
The company noted that early indications suggest that these deeper reservoirs may have commercial potential, and further technical analysis is now underway to assess the deep potential at Okporhuru, Sapele and the wider OML 41.
Seplat Energy Plc also said it has released the applicable exchange rate used to determine its final and special dividend payout to qualified shareholders who wish to receive their dividends in the naira.
A corporate disclosure by the company showed that the exchange rate would be N1,309.88 per $1.
According to the statement, the exchange rate for the Naira amounts payable is the NAFEM closing rate for April 25, 2024.