Seplat Energy completes acquisition of MPNU

Seplat Energy announced the completion of the acquisition of Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil. MPNU brings together all of ExxonMobil’s shallow water offshore operations in Nigeria. The transaction will increase production by 148% on a pro forma basis in the first half of 2024, from 48 kboe/d to 120 kboe/d; increase in 2P reserves by 86% on a proforma basis, from 478 Mboe to 887 Mboe; and increase in adjusted EBITDA by 199% on a proforma basis for the first half of 2024, from $267 million to $800 million.