RE: Anoh....Q4 start up2 Dec 2025 12:59
ChatGPT
You said:
assuming ANOH runs at design 300 MMscfd, convert that to boepd + assume some condensate — and show a plausible range of boepd uplift (low / base / high) for Seplat.
ChatGPT said:
Thought for 35s
Nice — I’ll convert ANOH’s design 300 MMscfd into barrels of oil equivalent per day (boepd), add a plausible condensate range, and show a low / base / high uplift for Seplat (Seplat’s ANOH working interest is 40%). I’ll state assumptions and show the arithmetic.
Sources: Seplat confirms ANOH is 300 MMscfd and Seplat will report its 40% working interest of wet gas as working-interest production. Seplat’s recent reported production (9M 2025) ≈ 135,636 boepd (used as the baseline).
Seplat Energy
+1
Assumptions & conversions
ANOH design = 300 MMscfd (gross). Seplat WI = 40% → Seplat net gas = 120 MMscfd.
Seplat Energy
Calculation: 300 × 0.40 = 120 (MMscfd).
Two common gas→boe conventions shown:
Industry accounting (simple rule): 1 boe = 6 Mcf = 6,000 scf.
Energy-equivalent: 1 boe = 5.614583 Mcf ≈ 5,614.583 scf (shown for completeness).
Condensate (liquids) assumed as a range of gross yield from the plant (bbl per MMscf):
Low: 20 bbl / MMscf
Base: 50 bbl / MMscf
High: 70 bbl / MMscf
Rationale: ANOH is a wet gas / condensate development; published material on the project and press commentary indicates meaningful condensate production and facilities for condensate recovery, but precise published yield varies by source — so I show a conservative-to-optimistic range.
anohgas.com
+1
Seplat reported production used for % uplift comparison: 135,636 boepd (9M 2025 average).
London Stock Exchange
Step-by-step arithmetic (digit-by-digit)
Gas-only (Seplat 40% share):
Gross ANOH = 300,000,000 scf/day (300 MMscfd).
Seplat share = 40% → 300,000,000 × 0.40 = 120,000,000 scf/day.
Convert to boe using 6,000 scf/boe: 120,000,000 ÷ 6,000 = 20,000 boepd.
Convert using 5,614.583 scf/boe: 120,000,000 ÷ 5,614.583 ≈ 21,373 boepd.
So gas-only contribution to Seplat (working interest) ≈ 20,000–21,373 boepd depending on conversion convention.
Condensate (liquids) share — gross → Seplat WI
Gross condensate (bpd) = plant gross MMscfd × (bbl / MMscf).
Seplat condensate = gross condensate × 0.40.
For 300 MMscfd plant:
Low (20 bbl/MMscf): gross condensate = 300 × 20 = 6,000 bpd → Seplat = 6,000 × 0.40 = 2,400 bpd.
Base (50 bbl/MMscf): gross = 300 × 50 = 15,000 bpd → Seplat = 15,000 × 0.40 = 6,000 bpd.
High (70 bbl/MMscf): gross = 300 × 70 = 21,000 bpd → Seplat = 21,000 × 0.40 = 8,400 bpd.
(Condensate barrels are counted 1 bbl = 1 boe for uplift calculations.)
Total Seplat boepd uplift (gas + condensate, working interest)
I show two gas-conversion options; condensate is added directly (bbl → boe 1:1).
Using 6,000 scf/boe (common accounting):
Low cond (20 bbl/MMscf): gas 20,000 + condensate 2,400 = 22,400 boepd.
Base c
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