Seplat Petroleum has seen its working interest production for last year boosted by more than 40%.
The Nigeria and London Stock exchanged firm said its current daily production interest was sitting at around 55,000boepd (barrels of oil equivalent per day) with both its oil and gas rates strong.
Meanwhile the company’s expansion of the Oben gas plant has also been benefitting the company with higher gas sales.
Revenue for 2015 is expected to be between $550million and $600million.
Seplat said due to continued oil price uncertainty, it would not be providing full year guidance ahead of its preliminary results in March.
Austin Avuru, chief executive, said: “In what was a very challenging year for the industry, Seplat still delivered best-in-class production growth in 2015 with liquids output up 20% and gas output up 119% year-on-year, corresponding to a 41% increase overall.
“With a growing consensus that low oil prices are set to remain for at least the near term, we remain focused on what is in our control and steps we can take to maximise profitability.
“Production strength, with past investment strategies translating into the up-tick in output, provides some cushion to lower oil pricing and our gas business takes on additional importance by providing a revenue stream that is de-linked to the oil price together with revenue continuity in the event of disruptions to third party oil export infrastructure.
“Furthermore, our strong focus remains on protecting the business and managing for value through driving further cost reductions, optimising operations, deleveraging and strengthening the balance sheet in preparation for opportunities that will inevitably follow this current downturn.”