CNOOC Limited Oil & Gas Exploration and Production Operations and Cost Analysis - Q3, 2014

 Published On: Nov, 2014 |    No of Pages: 86 |  Published By: GlobalData | Format: PDF
Request Free Sample

Summary

CNOOC Limited (CNOOC) is an upstream oil and gas exploration and production company. The company operates as a subsidiary of China National Offshore Oil Corporation. It explores develops and produces oil and gas from its offshore assets. It operates in four major oil production areas offshore China namely Bohai Bay, Western South China Sea, Eastern South China Sea and East China Sea. CNOOC also has assets in various foreign countries across Asia, Africa, North America, South America, Oceania and Europe. CNOOC classifies its business operations under two reportable business segments namely Exploration and Production, and Trading Business. CNOOC is headquartered in Hong Kong

CNOOC Limited Oil & Gas Exploration and Production Operations and Cost Analysis is the latest report from GlobalData, the industry analysis specialists, that offers comprehensive information on the operational and financial performance of the company. The report is an essential source for key operational data, analysis and strategic insight into company. The report provides latest annual and quarterly overview of production, reserves, share price performance, reserve changes, capital expenditures, acreage, performance metrics and results of oil & gas operations.

Scope

The report provides in-depth analysis and insights into companies’ capital spending, revenues, oil and gas reserves, production, and performance measures. Its scope includes -
- The report provides detailed and unique insights information on the key operational parameters. The report provides a comprehensive overview of production, reserves, reserve changes, capital expenditures, acreage, performance metrics, and results of oil & gas operations.
- Provides analysis of the share price performance of the company and the key valuation multiples. The report provides a comprehensive overview of share price performance and key valuation metrics such as market capitalization, enterprise value, EV/Production ($boe/d) and EV/Proved Reserve ($/boe)
- Provides annual and quarterly information on key operational and financial parameters. Annual information is for the current and the last four years while the quarterly information is for the current and the last four quarters
- The report provides detailed crude oil and natural gas reserves and production information of the company by country as disclosed in their annual report and regulatory filings.
- Contains in-depth and latest information on exploration, development, finding & development, acquisition expenditure, gross and net developed and undeveloped acreage position; key costs and revenue information; and performance metrics of the company as disclosed in their annual report and regulatory filings.

Note: Scope of the report mentioned above is generic and may not be applicable to all the companies. The report is based on the information disclosed by the company in their annual report and regulatory filings. Information that is not disclosed by the company may not be available in the report.

Quarterly information is covered only for those companies which are December ending and files quarter report. There might be cases where countries/regions data column/Charts will be blank for last five years. This is due to companies might have discontinued reporting of that countries/regions during the last five year time period.

Reasons to buy

The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to -
- Provides up-to-date information and in-depth analysis on operational parameters of the company.
- Identify M&A targets from up-to-date information and in-depth analysis on financial and operational parameters of your competitors.
- Rank your performance against other E&P companies using operational and financial benchmarking metrics.
- Formulate your strategies based on in-depth analysis of your competitors’ financial and operational data.
- Exploit the strengths and weakness of your closest competitors by comparing and analyzing their financial and operational parameters.
- Establish relative performance among the industry’s players based on key operational and financial measures.

Table of Contents
Table of Contents 2
List of Tables 4
List of Figures 5
Company Snapshot 7
Key Information 7
Company Overview 7
CNOOC Limited, Valuation and Financial Data 8
CNOOC Limited, Share Price Performance 8
Share Price Performance, Q3, 2013-Q3, 2014 8
CNOOC Limited, Quarterly Results of Oil & Gas Operations Per boe Produced 9
Results of Oil & Gas Operations Per boe Produced, Q3, 2013-Q3, 2014 9
Results of Oil & Gas Operations Per boe Growth Rates, Q3, 2013-Q3, 2014 10
CNOOC Limited, Quarterly E&P Costs Trends 11
Upstream Capital Expenditure, Q3, 2013-Q3, 2014 11
CNOOC Limited, Quarterly Production Trends 12
CNOOC Limited, Total Oil and Gas Production 12
Total Crude Oil and Natural Gas Production Trend, Q3, 2013-Q3, 2014 12
Total Crude Oil & Natural Gas Production, By Country/Region, Q3, 2013-Q3, 2014 13
CNOOC Limited, Crude Oil Production 14
Total Crude Oil Production Trend, Q3, 2013-Q3, 2014 14
Crude Oil Production, By Country/Region, Q3, 2013-Q3, 2014 15
CNOOC Limited, Natural Gas Production 16
Total Natural Gas Production Trend, Q3, 2013-Q3, 2014 16
Natural Gas Production, By Country/Region, Q3, 2013-Q3, 2014 17
CNOOC Limited, Valuation and Financial Data, 2009-2013 18
CNOOC Limited, Share Price Performance, 2009-2013 18
Share Price Performance, 2009-2013 18
Key Valuation Metrics, 2009-2013 19
CNOOC Limited, Production and Reserves Trends 20
Total Oil and Gas, Reserves and Production 20
Total Crude Oil and Natural Gas Production and Reserves Trend, 2009-2013 20
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2009-2013 21
Total Crude Oil and Natural Gas Reserve Changes, 2009-2013 23
Crude Oil/Liquids Production and Reserve 24
Crude Oil/Liquids Production and Reserve Trend, 2009-2013 24
Crude Oil Production and Reserves By Country/Region, 2009-2013 25
Crude Oil/Liquids Reserve Changes, 2009-2013 27
Natural Gas Production and Reserve 28
Natural Gas Production and Reserve Trend, 2009-2013 28
Natural Gas Production and Reserves, By Country/Region, 2009-2013 29
Natural Gas Reserve Changes, 2009-2013 31
Total Crude Oil and Natural Gas Reserves Life Index 32
Total Crude Oil and Natural Gas Reserves Life Index, 2009-2013 32
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2009-2013 33
CNOOC Limited, E&P Costs Trends 36
Allocation of the Upstream Capital Expenditure 36
Upstream Capital Expenditure, 2009-2013 36
Acquisition Costs By Country/Region, 2009-2013 37
Exploration and Development Costs, By Country/Region, 2009-2013 39
Oil and Gas Cost Per boe, US$/boe 41
Oil and Gas Cost Per boe, US$/boe, 2009-2013 41
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2009-2013 43
CNOOC Limited, Reserve Replacement Ratio 46
Oil and Gas Production Replacement Ratio 46
Oil and Gas Production Replacement Ratio, 2009-2013 46
Oil and Gas Production Replacement Ratio, By Country/Region, 2009-2013 48
CNOOC Limited, Results of Oil & Gas Operations Trend 53
Oil and Gas Revenue and Expenses 53
Oil and Gas Revenue and Expenses, 2009-2013 53
Oil and Gas Revenue and Expenses, By Country/Region, 2009-2013 54
Oil and Gas Revenue and Expenses, Per boe 60
Oil and Gas Revenue and Expenses, By boe, 2009-2013 60
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2009-2013 61
Oil and Gas Performance Metrics 66
CNOOC Limited, Land Holdings and Well Data 67
Developed and Undeveloped Acreage 67
Gross and Net Developed and Undeveloped Acreage, 2009-2013 67
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2009-2013 68
Well Statistics 71
Producible Oil and Gas Well, 2009-2013 71
Producible Oil and Gas Well, By Country/Region, 2009-2013 72
Exploration and Development Wells Drilled, 2009-2013 77
Exploration and Development Wells Drilled, By Country/Region, 2009-2013 78
Recent Developments 80
CNOOC Limited - Recent Developments 80
Nov 24, 2014: CNOOC - Huizhou 25-8 Oilfield/Xijiang 24-3 Oilfield Xijiang 24-1 District Joint Development Project Commences Production 80
Nov 24, 2014: Petrobras Completes Drilling Of First Appraisal Well In The Libra Consortium Area 80
Nov 19, 2014: CNOOC - A Mid-Sized Discovery Lufeng14-4 Made In Eastern South China Sea 80
Nov 03, 2014: CNOOC Announces First Oil From Golden Eagle Area Development 81
Oct 29, 2014: CNOOC Announces Key Operational Statistics of Q3 2014 81
Oct 24, 2014: CNOOC Announces New Discovery Jinzhou 23-2 in Bohai 82
Oct 22, 2014: CNOOC: A New Deepwater Gas Discovery in Gabon 82
Oct 22, 2014: Shell Announces Gabon Deep Water Gas Discovery 82
Oct 22, 2014: ROYAL DUTCH SHELL: Announces Gabon Deep Water Discovery 83
Oct 13, 2014: CNOOC: Enping 24-2 Oilfield Commences Production 83
Appendix 84
Methodology 84
Coverage 84
Secondary Research 84
Primary Research 84
Data Information Sources 85
Company Source 85
SEC/Other Regulatory Filings 85
Other Sources 85
Expert Panel Validation 85
Data Definition 85
Oil and Gas Reserves 85
Units of Measure 86
About GlobalData 86
Disclosure 86
Disclaimer 86

List of Tables
Table 1: CNOOC Limited, Key Facts 7
Table 2: CNOOC Limited, Share Price Performance, Q3, 2013-Q3, 2014 8
Table 3: CNOOC Limited, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q3, 2013-Q3, 2014 9
Table 4: CNOOC Limited, Results of Oil & Gas Operations Per boe Growth Rates, %, Q3, 2013-Q3, 2014 10
Table 5: CNOOC Limited, Upstream Capital Expenditure, Q3, 2013-Q3, 2014 11
Table 6: CNOOC Limited, Total Crude Oil and Natural Gas, Production, Q3, 2013-Q3, 2014 12
Table 7: CNOOC Limited, Total Oil & Gas Production, By Country/Region, mmboe, Q3, 2013-Q3, 2014 13
Table 8: CNOOC Limited, Total Crude Oil Production, mmbbl, Q3, 2013-Q3, 2014 14
Table 9: CNOOC Limited, Crude Oil Production, By Country/Region, mmbbl, Q3, 2013-Q3, 2014 15
Table 10: CNOOC Limited, Total Natural Gas Production, bcf, Q3, 2013-Q3, 2014 16
Table 11: CNOOC Limited, Natural Gas Production, By Country/Region, bcf, Q3, 2013-Q3, 2014 17
Table 12: CNOOC Limited, Share Price Performance, 2009-2013 18
Table 13: CNOOC Limited, Key Valuation Metrics, 2009-2013 19
Table 14: CNOOC Limited, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 20
Table 15: CNOOC Limited, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2009-2013 22
Table 16: CNOOC Limited, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2009-2013 23
Table 17: CNOOC Limited, Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 24
Table 18: CNOOC Limited, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2009-2013 26
Table 19: CNOOC Limited, Crude Oil Reserve Changes, mmbbl, 2009-2013 27
Table 20: CNOOC Limited, Natural Gas Production and Reserves Metrics, bcf, 2009-2013 28
Table 21: CNOOC Limited, Natural Gas Production and Reserves, By Country/Region, bcf, 2009-2013 30
Table 22: CNOOC Limited, Natural Gas Reserve Changes, bcf, 2009-2013 31
Table 23: CNOOC Limited, Oil and Gas Reserves Life Index, Years, 2009-2013 32
Table 24: CNOOC Limited, Oil and Gas Reserves Life Index, By Country/Region, Years, 2009-2013 34
Table 25: CNOOC Limited, Upstream Capital Expenditure, US$ mil, 2009-2013 36
Table 26: CNOOC Limited, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 38
Table 27: CNOOC Limited, Exploration and Development Costs, By Country/Region, US$ mil, 2009-2013 40
Table 28: CNOOC Limited, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 42
Table 29: CNOOC Limited, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2009-2013 45
Table 30: CNOOC Limited, Oil and Gas Production Replacement Ratio, %, 2009-2013 46
Table 31: CNOOC Limited, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2009-2013 51
Table 32: CNOOC Limited, Revenue and Expenses, US$ mil, 2009-2013 53
Table 33: CNOOC Limited, Revenue and Expenses, By Country/Region, US$ mil, 2009-2013 58
Table 34: CNOOC Limited, Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 60
Table 35: CNOOC Limited, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2009-2013 64
Table 36: CNOOC Limited, Oil and Gas Performance Metrics, 2009-2013 66
Table 37: CNOOC Limited, Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 67
Table 38: CNOOC Limited, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2009-2013 70
Table 39: CNOOC Limited, Producible Oil and Gas Wells, 2009-2013 71
Table 40: CNOOC Limited, Producible Oil and Gas Wells, By Country/Region, 2009-2013 75
Table 41: CNOOC Limited, Exploratory and Developed Wells, 2009-2013 77
Table 42: CNOOC Limited, Exploratory and Developed Wells, By Country/Region, 2009-2013 78

List of Figures
Figure 1: CNOOC Limited, Share Price Performance, USD/Share, Q3, 2013-Q3, 2014 8
Figure 2: CNOOC Limited, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q3, 2013-Q3, 2014 9
Figure 3: CNOOC Limited, Upstream Capital Expenditure, US$ mil, Q3, 2013-Q3, 2014 11
Figure 4: CNOOC Limited, Total Crude Oil and Natural Gas, Production, mmboe, Q3, 2013-Q3, 2014 12
Figure 5: CNOOC Limited, Total Oil & Gas Production, By Country/Region, mmboe, Q3, 2013-Q3, 2014 13
Figure 6: CNOOC Limited, Total Crude Oil Production, mmbbl, Q3, 2013-Q3, 2014 14
Figure 7: CNOOC Limited, Crude Oil Production, By Country/Region, mmbbl, Q3, 2013-Q3, 2014 15
Figure 8: CNOOC Limited, Total Natural Gas Production, bcf, Q3, 2013-Q3, 2014 16
Figure 9: CNOOC Limited, Natural Gas Production, By Country/Region, bcf, Q3, 2013-Q3, 2014 17
Figure 10: CNOOC Limited, Share Price Performance, USD/Share, 2009-2013 18
Figure 11: CNOOC Limited, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2009-2013 19
Figure 12: CNOOC Limited, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 20
Figure 13: CNOOC Limited, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2009-2013 21
Figure 14: CNOOC Limited, Total Oil & Gas Production, By Country/Region, mmboe, 2009-2013 21
Figure 15: CNOOC Limited, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2013 23
Figure 16: CNOOC Limited, Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 24
Figure 17: CNOOC Limited, Oil Reserves, End of Period, By Country/Region, mmbbl, 2009-2013 25
Figure 18: CNOOC Limited, Oil Production, By Country/Region, mmbbl, 2009-2013 25
Figure 19: CNOOC Limited, Crude Oil Reserve Changes, mmbbl, 2013 27
Figure 20: CNOOC Limited, Natural Gas Production and Reserves Metrics, bcf, 2009-2013 28
Figure 21: CNOOC Limited, Gas Reserves, End of Period, By Country/Region, bcf, 2009-2013 29
Figure 22: CNOOC Limited, Gas Production, By Country/Region, bcf, 2009-2013 29
Figure 23: CNOOC Limited, Natural Gas Reserve Changes, bcf, 2013 31
Figure 24: CNOOC Limited, Oil and Gas Reserves Life Index, Years, 2009-2013 32
Figure 25: CNOOC Limited, Gas Reserve Life Index, By Country/Region, Years, 2009-2013 33
Figure 26: CNOOC Limited, Oil & Gas Reserve Life Index, By Country/Region, Years, 2009-2013 33
Figure 27: CNOOC Limited, Oil Reserve Life Index, By Country/Region, Years, 2009-2013 34
Figure 28: CNOOC Limited, Upstream Capital Expenditure, US$ mil, 2009-2013 36
Figure 29: CNOOC Limited, Proved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 37
Figure 30: CNOOC Limited, Unproved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 37
Figure 31: CNOOC Limited, Development Costs, By Country/Region, US$ mil, 2009-2013 39
Figure 32: CNOOC Limited, Exploration Costs, By Country/Region, US$ mil, 2009-2013 39
Figure 33: CNOOC Limited, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 41
Figure 34: CNOOC Limited, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, $/boe, 2009-2013 43
Figure 35: CNOOC Limited, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, $/Boe, 2009-2013 43
Figure 36: CNOOC Limited, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, $/boe, 2009-2013 44
Figure 37: CNOOC Limited, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2009-2013 46
Figure 38: CNOOC Limited, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2009-2013 48
Figure 39: CNOOC Limited, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2009-2013 48
Figure 40: CNOOC Limited, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2009-2013 49
Figure 41: CNOOC Limited, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2009-2013 49
Figure 42: CNOOC Limited, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2009-2013 50
Figure 43: CNOOC Limited, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2009-2013 50
Figure 44: CNOOC Limited, Revenue and Expenses, US$ mil, 2009-2013 53
Figure 45: CNOOC Limited, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 54
Figure 46: CNOOC Limited, Exploration Expenses, By Country/Region, US$ mil, 2009-2013 54
Figure 47: CNOOC Limited, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 55
Figure 48: CNOOC Limited, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 55
Figure 49: CNOOC Limited, Oil & Gas Revenue, By Country/Region, US$ mil, 2009-2013 56
Figure 50: CNOOC Limited, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 56
Figure 51: CNOOC Limited, Production Costs, By Country/Region, US$ mil, 2009-2013 57
Figure 52: CNOOC Limited, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 57
Figure 53: CNOOC Limited, Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 60
Figure 54: CNOOC Limited, Exploration Expenses per boe, By Country/Region, $/boe, 2009-2013 61
Figure 55: CNOOC Limited, Income Tax/(Benefit) per boe, By Country/Region, $/boe, 2009-2013 61
Figure 56: CNOOC Limited, Lifting Cost per boe, By Country/Region, $/boe, 2009-2013 62
Figure 57: CNOOC Limited, Annual Net Income per boe, By Country/Region, $/boe, 2009-2013 62
Figure 58: CNOOC Limited, Oil & Gas Revenue per boe, By Country/Region, $/boe, 2009-2013 63
Figure 59: CNOOC Limited, Total DD&A per boe, By Country/Region, $/boe, 2009-2013 63
Figure 60: CNOOC Limited, Total Revenue per boe, By Country/Region, $/boe, 2009-2013 64
Figure 61: CNOOC Limited, Oil and Gas Performance Metrics, 2009-2013 66
Figure 62: CNOOC Limited, Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 67
Figure 63: CNOOC Limited, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2009-2013 68
Figure 64: CNOOC Limited, Total Net Undeveloped Acreage, By Country/Region, Acres, 2009-2013 68
Figure 65: CNOOC Limited, Total Gross Developed Acreage, By Country/Region, Acres, 2009-2013 69
Figure 66: CNOOC Limited, Total Net Developed Acreage, By Country/Region, Acres, 2009-2013 69
Figure 67: CNOOC Limited, Producible Oil and Gas Wells, 2009-2013 71
Figure 68: CNOOC Limited, Gross Productive Gas Wells, By Country/Region, Number, 2009-2013 72
Figure 69: CNOOC Limited, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 72
Figure 70: CNOOC Limited, Gross Productive Oil Wells, By Country/Region, Number, 2009-2013 73
Figure 71: CNOOC Limited, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2009-2013 73
Figure 72: CNOOC Limited, Net Productive Gas Wells, By Country/Region, Number, 2009-2013 74
Figure 73: CNOOC Limited, Net Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 74
Figure 74: CNOOC Limited, Net Productive Oil Wells, By Country/Region, Number, 2009-2013 75
Figure 75: CNOOC Limited, Exploratory and Developed Wells, 2009-2013 77


If the above report does not have the information suitable for your business, we can provide custom research that can be lucrative for your business or enhance your profession.