Seplat grazes 65,000BOPD and the new Oando is mostly a gas play
Seplat petroleum’s operated production was 64,606Barrels of Oil per day on the last day of July, 2014, according to official data. The state owned NPDC produced 59,656BOPD in Oil Mining Lease (OML) 30, its joint venture with Shoreline Natural Resources. Equity crude for these two Nigerian players on the last day of July 2014 was thus 29,073BOPD and 26,845BOPD respectively.
Oando Energy announced 44,500 BOEPD (Barrels of Oil Equivalent Per Day) as equity volume for the first half of 2014, in its first report after the conclusion of its take -over of ConocoPhillips’s assets in Nigeria. 56% of this average is gas and condensates. 6% is Natural gas liquids. Translated, Oando averaged 17,000BOPD equity crude in the first half of the year. The newly transformed company thus shoots its crude oil volume from 4,000BOPD to 17,000BOPD. The company’s gas and condensate output is however about 165MMscf/d.
It’s not clear how much of the gas and condensate is condensate which could be added to the equity crude, so at this point, its hard to say where Oando lies, on the list of top indigenous Nigerian producers..
Even so, Oando’s ownership of ConocoPhillips’ Nigerian assets has clearly ramped up the aggregate equity production of Nigerian independents in the country.