Seplat Energy Shares Hit Record N14,907 as Oil Market Disruptions Drive Investor Interest

Seplat Energy shares hit a fresh record on the Nigerian Exchange Limited (NGX), climbing to N14,907.80 as renewed disruption in global oil markets and the company’s strong financial performance continue to attract investor attention. The stock has gained 10% over the last 10 trading days, rising from N13,552.60 to its current record level after another 10% jump on September 10. The latest rally has pushed Seplat’s share price more than double its value since the beginning of the year.

The surge comes amid heightened uncertainty in global energy markets, with disruptions around the Strait of Hormuz affecting the movement of crude oil and other energy products. Reports indicated that only three commercial vessels passed through the strategic waterway on September 16, compared with 12 the previous day and a 10-day average of 17. The reduced traffic has helped keep crude oil prices above $100 per barrel, although prices eased slightly on September 17 as concerns over some supply disruptions moderated.

Seplat’s performance has also significantly outpaced several other oil and gas stocks on the NGX, whose recent movements have been mixed. Oando shares, for example, fell from N38.30 on September 2 to N34 on September 16, while TotalEnergies Marketing Nigeria remained at N576 and Conoil at N210 during September. Aradel Holdings also experienced volatility, falling to N1,413 on September 10 before recovering to N1,550 by September 15 and 16. The varying performances show that rising global oil prices have not translated into a uniform rally across Nigeria’s energy stocks.

Beyond the global oil market, Seplat’s financial results have provided another catalyst for investor interest. For the six months ended June 2026, the company recorded a 74.1% year-on-year increase in profit before tax to N790.4 billion, while revenue rose 15.5% to N2.50 trillion. Production also increased to 139,509 barrels of oil equivalent per day. The company entered 2026 with a significantly expanded production base after group production averaged 131,506 barrels of oil equivalent per day in 2025, up 148% from 2024, while annual revenue reached a record $2.73 billion.

The latest share price means Seplat has gained approximately 165.9% since the start of 2026, when the stock traded at N5,610, and about 177.1% over the past 12 months from N5,379. The rally has also lifted the value of major shareholder Tony Elumelu’s indirect 120.4 million-share stake, held through Heirs Energies and Heirs Holdings, to approximately N1.79 trillion at the current market price. The sharp increase highlights the scale of gains generated for shareholders as Seplat continues to benefit from stronger production, financial performance and renewed investor interest in energy stocks.

source: nairametrics