Aiming at the problem of excessive vertical vibration caused by seismic primary waves in jacket structures located in seismic zones in China, a new type of shear plate metal damper with upper and lower elliptical openings (SPA) is proposed in this paper. The seismic model test is carried out to compare the shear plate metal damper with three traditional opening forms, central elliptical opening, single row opening, and double row opening, and the hysteretic curve, skeleton curve, and cyclic hysteretic energy dissipation capacity are analyzed. The results show that the energy dissipation performance of the new shear plate metal damper with upper and lower elliptical openings proposed in this paper is better than that of the other three types of dampers.