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IS - Seplat completes $512MM acquisition of Eland Oil & Gas - December 2019
Seplat Petroleum completed the acquisition of fellow Niger Delta producer Eland Oil & Gas for $512 million in cash and assumed debt on Dec. 16. Seplat said the deal advances its goal of becoming Nigeria’s largest independent producer, boosting its pro forma 2019 working interest production 23% at midpoint to an estimated 64,000 boe/d, although both companies have subsequently reduced their production guidance because of operational issues. The deal was announced Oct. 15. Seplat......
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