on MAUREL & PROM (EPA:MAU)
Seplat Energy completes acquisition of MPNU
On December 12, 2024, Maurel & Prom, Seplat Energy’s largest shareholder with a 20.46% stake, announced that Seplat Energy has completed the acquisition of Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil. This acquisition covers ExxonMobil’s shallow water offshore operations in Nigeria, a sector where MPNU has excellent operational expertise.
The transaction represents a turning point for Seplat Energy, promising strong growth. Planned production increases by 148%, reaching 120 kboe/d in the first half of 2024. 2P reserves increase by 86% to 887 Mboe. Adjusted EBITDA increases by 199%, reaching $800 million.
This acquisition, amounting to $672 million, was financed by the cash and credit facilities of Seplat Energy, which maintains a strong balance sheet with a net debt to EBITDA ratio of 0.8x.
R. H.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all MAUREL & PROM news