Seplat Revives 22 Idle Wells Six Months After Exxon Asset Takeover
Seplat Energy Plc has revived 22 of the hundreds of idle wells it inherited following the acquisition of Mobil Producing
Seplat Energy Plc has revived 22 of the hundreds of idle wells it inherited following the acquisition of Mobil Producing Nigeria Unlimited from US-based oil giant ExxonMobil.
The Nigerian independent oil company, listed in Lagos and London, said in December after the completion of the deal that it would resuscitate about 400 wells shut down by ExxonMobil.
“The programme to resume production from idle wells continued at pace during 2Q 2025. A further 19 idle wells were worked on during the quarter, taking the total well count to 29 in 2025. Of the 29 wells, 22 have been successfully restored to production,” Seplat said in its earnings report released on Wednesday.
It said the second-quarter idle well programme restored an additional 14,900 barrels of oil per day (bopd) gross production capacity.
“The idle well programme continues to be a strong value-adding activity, with year-to-date additions to gross production capacity up to 25,900 bopd from 22 productive wells,” the company said. “We remain on track to meet our previously upgraded target of 50 well work-overs from the idle well inventory during 2025.”
It said production across the offshore assets continued to remain strong during the period, rising 11% to 83,797 barrels of oil equivalent per day (boepd) from 75,478 boepd in the previous quarter.
“As such, daily average working interest production during 6M 2025 was 79,660 boepd. The improvement in production performance during 2Q 2025 was driven by several factors: improved production optimisation and efficiency, impacts of maintenance and integrity work and the idle well restoration programme,” Seplat said.
Assets added to the company’s portfolio following the acquisition include 40% operated interest in oil mining lease 67, 68, 70 and 104; 40% operated interest in the Qua Iboe export terminal and the Yoho floating storage and offloading; 51% operated interest in the Bonny River Terminal natural gas liquids recovery plant; 9.6% participating interest in the Aneman-Kpono field; and about 1,000 staff and 500 contractors, it said.
MPNU was renamed Seplat Nigeria Unlimited and is headed by Oladotun Isiaka, a former executive director and development manager for ExxonMobil Affiliates in Nigeria.
