Seplat Energy Plc’s share price rose to a record N16,000 on the Nigerian Exchange Limited (NGX) on Thursday, extending its strong performance in 2026.
According to NGX data, the stock gained N1,092.20, representing a 7.33 per cent increase from N14,907.80 recorded in the previous trading session.
The latest gain has pushed Seplat’s share price up 175.44 per cent since the beginning of the year, when it traded at N5,809 per share.
The stock has also gained 197.44 per cent over the past year.
The rally lifted Seplat’s market capitalisation to about N9.6 trillion, further strengthening its position among the largest companies listed on the exchange.
Seplat Rally Lifts Oil And Gas Index
The rise in Seplat shares also supported the performance of the NGX Oil/Gas Index, which gained 3.95 per cent to close at 6,252 points.
Performance across other oil and gas stocks was mixed during the session.
Eterna Plc gained 1.3 per cent to close at N39, while Oando Plc fell 0.97 per cent. Conoil Plc, Aradel Holdings Plc and TotalEnergies Marketing Nigeria Plc closed unchanged.
The rally in Seplat shares comes amid higher international crude oil prices and renewed geopolitical tensions that have raised concerns over global energy supplies and shipping routes.
Brent crude was trading above $106 per barrel, while West Texas Intermediate was around $94 per barrel, according to the figures cited in the report.
Strong Earnings Support Rally
Seplat’s share price performance has coincided with improved financial and operational results reported by the company in the first half of 2026.
For the six months ended June, Seplat’s profit before tax rose 74.1 per cent year-on-year to N790.4 billion, compared with N454.1 billion recorded in the same period of 2025.
Revenue increased by 15.5 per cent to N2.50 trillion, while production rose to 139,509 barrels of oil equivalent per day.
The company reported N561.3 billion in profit before tax in the second quarter, contributing significantly to its first-half performance.
Seplat’s profit after tax also increased by 48.3 per cent in the first quarter to N52.5 billion from N35.4 billion a year earlier.
The company entered 2026 with a larger production base following the consolidation of its offshore assets.
In 2025, Seplat’s group production averaged 131,506 barrels of oil equivalent per day, up 148 per cent from 2024.
Its annual revenue also reached a record $2.73 billion in 2025, supported by the full-year consolidation of its offshore assets, stronger onshore production, the Sapele Gas Plant and new wells.
