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Seplat Energy became the first stock in the history of the Nigerian Exchange to breach N10,000 per share, handing Tony Elumelu, Samuel Dossou-Aworet and Seplat's co-founders combined paper gains worth hundreds of millions of dollars.
Heirs Energies is up about $186.6 million on paper on its Seplat stake, bought in December as Nigerian independents expand.
Seplat said Tony Elumelu’s experience will strengthen board oversight as the company pursues growth in Nigeria’s evolving energy market.
Seplat Energy begins ANOH gas production, increasing Nigeria’s gas supply and supporting industrial and domestic energy needs.
Seplat, co-founded by Austin Avuru, boosts offshore output after completing its key Inlet Gas Exchanger upgrade in OML 67.
Seplat boosts crude output by 33,000 barrels daily after reviving 26 wells, driving Nigeria’s oil and energy recovery.
Seplat Energy steps up oil and gas production after acquiring Mobil assets, strengthening performance and expanding Nigeria’s offshore capacity.
Seplat co-founder Austin Avuru’s stake surpasses $200 million as the energy firm’s shares surge on the Nigerian Exchange.
Seplat Energy to invest up to $3 billion in Nigeria after the Exxon deal, boosting oil and gas output, shareholder returns, and local energy access.
Seplat Energy posts $1.4 billion H1 2025 revenue, up 231%, as oil sales soar; profit falls 45% on tax bill and rising admin costs.
Seplat Energy co-founder sees major rebound after an earlier market dip, reaffirming strength in Nigeria’s energy sector.
Since the start of the year, the market value of this stake has fallen by $23.6 million, driven by a slump in the company’s share price.
The move, announced by CEO Roger Brown, is part of the firm’s long-term strategy to deepen Nigeria’s energy access and industrial development.
Seplat Energy posts $809.3 million Q1 revenue, up 350%, driven by higher crude and gas production.
The company has installed over 850MMscfd of gas infrastructure to help meet Nigeria’s rising domestic energy demand.
The transaction, which covers 87.3 percent of the outstanding amount, is part of a broader plan to streamline its capital structure and ease debt obligations.