Maurel & Prom: Seplat Energy acquires MPNU
(CercleFinance.com) - Oil company Maurel & Prom announces that Seplat Energy, in which it is the largest shareholder with a 20.
46% stake, has completed the acquisition of MPNU from ExxonMobil, which comprises ExxonMobil's shallow-water offshore activities in Nigeria.
The transaction offers Seplat Energy significant opportunities to develop its growth and profitability, enabling it to increase production by 148% and pro-forma adjusted EBITDA by 199% in H1 2024.
The cash consideration paid to ExxonMobil at closing amounted to $672m, fully financed by Seplat Energy's free cash and credit facilities, which maintains a strong post-acquisition balance sheet.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
46% stake, has completed the acquisition of MPNU from ExxonMobil, which comprises ExxonMobil's shallow-water offshore activities in Nigeria.
The transaction offers Seplat Energy significant opportunities to develop its growth and profitability, enabling it to increase production by 148% and pro-forma adjusted EBITDA by 199% in H1 2024.
The cash consideration paid to ExxonMobil at closing amounted to $672m, fully financed by Seplat Energy's free cash and credit facilities, which maintains a strong post-acquisition balance sheet.
Copyright (c) 2024 CercleFinance.com. All rights reserved.