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Aradel Oil Output Surges 523% to 139.5 Kboepd in H1 2026

From ThisDay · () English

Translated from English, summarized and contextualized by DistantNews.

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  • Aradel Holdings Plc reported a 523% surge in oil equivalent production to 139,500 barrels per day in the first half of 2026.
  • The company's gross revenue increased 577% to N2.49 trillion, driven by acquisitions and improved asset uptime, leading to a 70% reduction in net debt.
  • Gas production saw a significant rise of 1,121%, attributed to better pipeline availability and customer offtake, alongside a firmer price environment for both crude and gas.

Aradel Holdings Plc has announced a dramatic increase in its production output for the first half of 2026, with group production soaring 523% to an average of 139,500 barrels of oil equivalent per day (kboepd). This significant surge, fueled by strategic acquisitions and enhanced asset operational efficiency, propelled gross revenue up by an impressive 577% to N2.49 trillion.

The company's unaudited results for the six months ending June 30, 2026, also revealed a substantial cut in net debt by 70%. Aradel highlighted that its expanded portfolio is now translating into greater scale, improved profitability, and stronger cash generation. Crude oil output alone rose 258% to 55.6 kbopd, while gas production experienced the most dramatic growth, climbing 1,121% to 503.2 million standard cubic feet per day.

Aradel attributed this remarkable performance to the successful integration of assets acquired in 2025 and operational initiatives that minimized downtime across key fields. The company also benefited from a more favorable market, reporting an average realized price of $90.4 per barrel for crude and $2.08 per mmscf for gas during the period. Gross profit also saw a substantial jump of 782% to N1.44 trillion.

Aradel highlighted how its enlarged portfolio is translating into scale, profitability and stronger cash generation.

— Aradel Holdings PlcThe company's unaudited results for the six months ended June 30, 2026.
DistantNews Editorial

Originally published by ThisDay in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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