Nigerian founded independents, Aradel Holdings and Seplat Energy, each averaged the same volume of Barrels of Oil Equivalent Per day (BOEPD) output in the first half of the year 2026, according to their respective reports.
Their working interest production each amounted to 139,000BOEPD in the period.
Seplat put it out directly: “Production averaged 139,509BOEPD in the first six months of 2026”, it said, “up four per cent from the first six months of 2025 (134,492BOEPD), within 2026 guidance (135,000 – 155,000BOEPD)”.
Aradel’s message was indirect. It reported “production of 25.2MillionBOE for the period. Divided by 181 (the number of days in the first half of the year) this amounts to 139,000BOEPD. The company reaffirmed its “full year production guidance of 110,000 – 140,000BOEPD”.
The reports reflect “Group activity outcomes”, from the two competitors, each of whom is responsible for more hydrocarbon production than any of the five International Oil Majors (Chevron, ENI, ExxonMobil, Shell and TOTAL) operating in Nigeria today.
Seplat Group consists of Seplat Producing Nigeria Unlimited (SEPNU), which operates the four south east offshore Oil Mining Leases (OMLs) acquired from Mobil Producing in December 2024; Seplat West Limited, which runs the base business: the oil and gas production activities in OMLs) 4, 38, and 41, acquired from Shell, TOTAL & ENI in 2010; Eland Oil and Gas Limited, which holds a significant stake in OML 40, also in the western Niger Delta onshore; Seplat East Onshore Limited which operates the OML 53, onshore eastern Niger Delta which delivers, among other products, the upstream part of the Assa North Ohaji South (ANOH) project. ANOH Gas Processing Company (AGPC) Limited, a midstream joint venture, which is 50/50 owned by Seplat and NGIC, the natural gas subsidiary of NNPC, etc.
Aradel operates through its subsidiaries, which include Aradel Energy Limited (100%), a wholly owned subsidiary of Aradel Holdings, as well as the Operator of the Ogbele (PML 14), Omerelu (PPL 247), Olo and Olo West Marginal Fields; Aradel Gas Limited (100%), the first Nigerian independent Non-JV Gas Supplier to Bonny LNG. Established to leverage investment opportunities in the gas sector, it has 100MMscf/d gas processing facility; Aradel Refineries Limited (95%), a 3-train 11,000BOPD independent operating midstream refinery. It produces AGO, DPK, MDO, HFO and Naphtha; ND Western Limited (81.67%), an independent Nigerian oil and gas exploration and production company comprising four leading industry players with four limited liability companies (being Aradel Energy, First Exploration & Petroleum Development Company, and Waltersmith Petroman Oil) as shareholders; Renaissance Africa Energy Company, a 53.3% total equity holding made up of a direct holding of 12.5% and through ND Western, an indirect holding of 40.8%.
