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GTCO58.40+1.24%ZENITHBANK46.10-0.43%UBA32.85+0.92%ACCESSCORP22.30-1.10%FBNH28.70+0.35%STANBIC56.25+1.62%FCMB8.95-0.55%WEMABANK11.50+2.21%DANGCEM462.00+0.65%BUACEMENT95.40-0.22%WAPCO38.25+1.86%NESTLE1180.00-0.42%DANGSUGAR36.20+0.83%FLOURMILL64.55+1.49%UNILEVER18.45-1.07%NB35.60+2.45%GUINNESS64.10+0.16%SEPLAT5800.00+1.92%GTCO58.40+1.24%ZENITHBANK46.10-0.43%UBA32.85+0.92%ACCESSCORP22.30-1.10%FBNH28.70+0.35%STANBIC56.25+1.62%FCMB8.95-0.55%WEMABANK11.50+2.21%DANGCEM462.00+0.65%BUACEMENT95.40-0.22%WAPCO38.25+1.86%NESTLE1180.00-0.42%DANGSUGAR36.20+0.83%FLOURMILL64.55+1.49%UNILEVER18.45-1.07%NB35.60+2.45%GUINNESS64.10+0.16%SEPLAT5800.00+1.92%
Credit profile

Seplat Energy Plc

Proshare Rating
A3.ng
1Y PD
1.90%
LGD
50%
Spread
520 bps
Outstanding
₦380.00B
Watchlist
Positive

Thesis

Post-MPNU acquisition production scale-up materially de-risks reserve life; gas monetisation provides ZAR-style domestic cushion.

Strengths
  • • Production > 130 kboepd
  • • Gas leadership
  • • Hedge book in place
Risks
  • • Oil price exposure
  • • Niger Delta security
  • • Decommissioning liabilities

External ratings

  • S&PBStable
Last reviewed 2026-04-26