Investor Presentaiton
H1 2020 PERFORMANCE HIGHLIGHTS
Seplat delivered production well within guidance and maintained a healthy cash balance despite low oil prices
KEY FIGURES
A STRONG PERFORMANCE DESPITE CHALLENGING MARKET
VOLUMES WITHIN GUIDANCE
51,177 boepd
(Q1 2020: 48,491 boepd)
LOW COST PRODUCER
US$7.60/boe
> 51,177 boepd total
Production
well within
guidance
> Liquids 34,117 bopd
> Gas 99 MMscfd
(17,060 boepd)
Focus on
cost reduction
and efficiency
> Negotiating at least 30%
savings from suppliers,
per Government request
› Reducing barging costs
at OML40, plus Group
central costs
Oil price
recovering
> $34.94/bbl realised
across H1 2020
> Hedged put options at
$45/bbl for Q2/Q3 and
$30/bbl in Q4
Capex
increased
> $86m invested H1 to
underpin future revenues
> H2 focus on gas projects
> Non-essential capex
under review
STRONG CASH BALANCE
US$343m
Balance
sheet
> Balance sheet strong
even after capex and
dividend payments
> All debt lines well
within headroom
40
SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC | INVESTOR PRESENTATION
Update on
major projects
> ANOH remains on schedule
for Q4 2021 first gas
› Amukpe-Escravos Pipeline
expected in H2, subject to
COVID-19 delayed works
being completedView entire presentation