The Nigerian oil and gas company, which listed in
The company said revenues fell 7.5% to
SEPLAT was also hit by a
The company said its working interest production increased during the period to 27,375 barrels of oil equivalent per day from 27,183 barrels, with a 7.9% fall in oil production due to the unplanned downtime being more than offset by a 37% increase in gas production.
"Seplat performed well during the first half of 2014. Although production in the period was impacted by the shutdown of third party infrastructure, we continue to drive growth - excluding the shut-in days, our gross daily average production from OMLs 4, 38 and 41 was over 60,000 barrels," Chief Executive
"We plan to have up to seven drilling rigs actively engaged, and are progressing plans at a fast pace to develop our oil and gas reserves and increase production, aiming to build momentum through the second half and into 2015," Avuru added.
SEPLAT said its full-year average working interest production is expected to be between 23,000 and 25,000 barrels of oil per day and between 38 and 45 million cubic feet per day of gas.
The company left the period at a strong financial position with cash at bank of
SEPLAT shares were down 0.8% at
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