Seplat Energy Plc shares have climbed to an all-time high of N16,000 per share on the Nigerian Exchange Limited (NGX), extending a sharp rally that has seen the stock surge by 175.44% year-to-date.

NGX data showed that Seplat closed at N16,000 on September 24, up N1,092.20 or 7.33% from its previous trading session.

The latest rally has pushed the energy company’s shares to a highest level recorded on the NGX, as investors continue to drive demand for the stock.

The share price performance

Seplat’s latest price surge extends a rally that has significantly lifted the stock’s value since the beginning of 2026.

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  • At the beginning of the year, the stock was trading at N5,809 per share. At N16,000, Seplat has gained 175.44% since the start of the year.
  • On September 17, Nairametrics reported that Seplat shares had climbed to a new record level on the NGX, rising 10% in 10 days from N13,552.60 to N14,907.80.
  • The latest gain of N1,092.20 lifted the stock by 7.33% during the September 24 trading session.

Seplat’s shares have gained 197.44% over the past one year.

The latest rally has pushed the company’s market capitalisation to N9.599 trillion.

Seplat rally lifts NGX oil index

The surge in Seplat also lifted the NGX Oil/Gas Index to 237.6 points, equivalent to 3.95%, to close at 6,252.0.

The movement came as other oil and gas stocks recorded mixed performances during the session.

  • Conoil remained unchanged.
  • Aradel remained unchanged.
  • TotalEnergies remained unchanged.
  • Eterna Plc gained 1.3% to close at N39.00, while Oando declined by 0.97%.

Seplat’s latest surge also comes amid an increase in global oil prices, as renewed geopolitical tensions raise concerns about the security of key energy and shipping routes.

Earlier, Nairametrics reported that oil prices jumped after Iran warned that the ongoing war could expand into the Indian Ocean if the United States or Israel launches another attack.

Checks by Nairametrics showed Brent crude had jumped more than 3% to above $106 per barrel, while West Texas Intermediate was trading near $94 per barrel at the time of filing the report.

Seplat rally rides on strong performance

Seplat’s recent share rally comes against the backdrop of stronger financial and operational performance in the first half of 2026.

  • For the six months ended June 2026, the company’s profit before tax rose 74.1% year on year to N790.4 billion, compared with N454.1 billion in the same period of 2025.
  • Revenue increased by 15.5% to N2.50 trillion.
  • Production rose to 139,509 barrels of oil equivalent per day.
  • The company had earlier reported a 48.3% increase in first-quarter profit after tax toN52.5 billion from N35.4 billion, despite lower revenue and profit before tax during the quarter.

Profit before tax reached N561.3 billion in the second quarter, contributing significantly to the strong first-half performance.

Seplat also entered 2026 with a significantly larger production base. In 2025, group production averaged 131,506 barrels of oil equivalent per day, up 148% from 2024, while annual revenue reached a record $2.73 billion.

The increase in production reflected the first full-year consolidation of its offshore assets, alongside stronger onshore output supported by the Sapele Gas Plant and new wells.