Nigeria’s leading integrated indigenous energy company, also known as Aradel Holdings Plc (“Aradel”, “Aradel Holdings”, “the Company” or “the Group”), has announced its unaudited results for the nine-month period ended 30 September 2026.
Valuechain, quoting a statement issued by the company, reports that Mr. Adegbite Falade, Chief Executive Officer of Aradel commented on the development.
According to the statement, Mr. Falade said: “The first nine months of 2026 demonstrated what our enlarged portfolio can deliver. Group production ran above our full-year guidance range, with strong growth in both crude oil and gas output. This drove a step-change in revenue and EBITDA, alongside improved margins. Our operations generated substantial cash, which allowed us to fund our investment programme, reduce our debt and move the Group from net debt to net cash position.
He also pointed out further that “We are well underway in constructive engagements with the seller to address the earnout arrangements to ensure our earnings reflect the significantly improved operational performance.
“As a Group we remain committed to creating long term growth and sustainability this is evidenced in the recent major hydrocarbon discovery following successful delivery of the JK-004 exploration well in shallow waters offshore Nigeria, in Oil Mining Lease 74 by Renaissance. We also achieved first oil from our recently acquired Olo marginal field. This further deepens our future sustainability by the additional hydrocarbon reserves.”
He also stated that “Our priorities remain unchanged: optimising our enlarged asset base, improving uptime, growing production, safe operations, deepening the share prosperity model with our host communities, improving tax efficiency and allocating capital with discipline to deliver sustainable value for all our shareholders,” the statement revealed further.
