Following a strong set of Q3 results in October, Seplat has now agreed to acquire ExxonMobil's entire Nigerian offshore shallow water oil and gas business, which produces some 95 kboepd from 409 Mbbl of 2P oil & 211 Bscf of gas (with additional development potential), for $1.283bn plus a $300m contingent consideration. This scale will mean Seplat becomes a major oil player, both in Nigeria and by global standards. To us it makes little sense that a company that was already undervalued has only a ....
25 Feb 2022
Seplat Petroleum - Acquisition of ExxonMobil's Offshore Business
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Seplat Petroleum - Acquisition of ExxonMobil's Offshore Business
Following a strong set of Q3 results in October, Seplat has now agreed to acquire ExxonMobil's entire Nigerian offshore shallow water oil and gas business, which produces some 95 kboepd from 409 Mbbl of 2P oil & 211 Bscf of gas (with additional development potential), for $1.283bn plus a $300m contingent consideration. This scale will mean Seplat becomes a major oil player, both in Nigeria and by global standards. To us it makes little sense that a company that was already undervalued has only a ....