CNOOC Limited Oil & Gas Exploration and Production Operations and Cost Analysis - Q2, 2015

 Published On: Nov, 2015 |    No of Pages: 94 |  Published By: GlobalData | Format: PDF
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Summary

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 5
List of Figures 6
Company Snapshot 8
Key Information 8
Company Overview 8
CNOOC Limited, Valuation and Financial Data 9
CNOOC Limited, Share Price Performance 9
Share Price Performance, Q2, 2014-Q2, 2015 9
CNOOC Limited, Key Valuation Metrics 10
Key Valuation Metrics, Q2, 2014-Q2, 2015 10
CNOOC Limited, Quarterly Results of Oil & Gas Operations Per boe Produced 11
Results of Oil & Gas Operations Per boe Produced, Q2, 2014-Q2, 2015 11
Results of Oil & Gas Operations Per boe Growth Rates, Q2, 2014-Q2, 2015 12
CNOOC Limited, Quarterly E&P Costs Trends 13
Upstream Capital Expenditure, Q2, 2014-Q2, 2015 13
CNOOC Limited, Quarterly Production Trends 14
CNOOC Limited, Total Oil and Gas Production 14
Total Crude Oil and Natural Gas Production Trend, Q2, 2014-Q2, 2015 14
Total Crude Oil & Natural Gas Production, By Country/Region, Q2, 2014-Q2, 2015 15
CNOOC Limited, Crude Oil Production 16
Total Crude Oil Production Trend, Q2, 2014-Q2, 2015 16
Crude Oil Production, By Country/Region, Q2, 2014-Q2, 2015 17
CNOOC Limited, Natural Gas Production 18
Total Natural Gas Production Trend, Q2, 2014-Q2, 2015 18
Natural Gas Production, By Country/Region, Q2, 2014-Q2, 2015 19
CNOOC Limited, Valuation and Financial Data, 2010-2014 20
CNOOC Limited, Share Price Performance, 2010-2014 20
Share Price Performance, 2010-2014 20
Key Valuation Metrics, 2010-2014 21
CNOOC Limited, Production and Reserves Trends 22
Total Oil and Gas, Reserves and Production 22
Total Crude Oil and Natural Gas Production and Reserves Trend, 2010-2014 22
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2010-2014 24
Total Crude Oil and Natural Gas Reserve Changes, 2010-2014 26
Crude Oil/Liquids Production and Reserve 27
Crude Oil/Liquids Production and Reserve Trend, 2010-2014 27
Crude Oil Production and Reserves By Country/Region, 2010-2014 28
Crude Oil/Liquids Reserve Changes, 2010-2014 30
Natural Gas Production and Reserve 31
Natural Gas Production and Reserve Trend, 2010-2014 31
Natural Gas Production and Reserves, By Country/Region, 2010-2014 32
Natural Gas Reserve Changes, 2010-2014 34
Total Crude Oil and Natural Gas Reserves Life Index 35
Total Crude Oil and Natural Gas Reserves Life Index, 2010-2014 35
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2010-2014 36
CNOOC Limited, E&P Costs Trends 39
Allocation of the Upstream Capital Expenditure 39
Upstream Capital Expenditure, 2010-2014 39
Acquisition Costs By Country/Region, 2010-2014 40
Exploration and Development Costs, By Country/Region, 2010-2014 42
Oil and Gas Cost Per boe, US$/boe 44
Oil and Gas Cost Per boe, US$/boe, 2010-2014 44
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2010-2014 46
CNOOC Limited, Reserve Replacement Ratio 49
Oil and Gas Production Replacement Ratio 49
Oil and Gas Production Replacement Ratio, 2010-2014 49
Oil and Gas Production Replacement Ratio, By Country/Region, 2010-2014 51
CNOOC Limited, Results of Oil & Gas Operations Trend 56
Oil and Gas Revenue and Expenses 56
Oil and Gas Revenue and Expenses, 2010-2014 56
Oil and Gas Revenue and Expenses, By Country/Region, 2010-2014 58
Oil and Gas Revenue and Expenses, Per boe 64
Oil and Gas Revenue and Expenses, By boe, 2010-2014 64
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2010-2014 65
Oil and Gas Performance Metrics 71
CNOOC Limited, Land Holdings and Well Data 72
Developed and Undeveloped Acreage 72
Gross and Net Developed and Undeveloped Acreage, 2010-2014 72
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2010-2014 73
Well Statistics 76
Producible Oil and Gas Well, 2010-2014 76
Producible Oil and Gas Well, By Country/Region, 2010-2014 77
Exploration and Development Wells Drilled, 2010-2014 82
Exploration and Development Wells Drilled, By Country/Region, 2010-2014 84
Recent Developments 86
CNOOC Limited - Recent Developments 86
Nov 09, 2015: Husky Achieves Milestone With Madura Strait BD Gas Development 86
Oct 28, 2015: CNOOC Announces Key Operational Statistics For Q3 2015 87
Oct 27, 2015: Technip Awarded A Substantial Contract To Supply The First Flexible Pipes For The Libra Pre-Salt Field 87
Oct 22, 2015: CNOOC confirms Caofeidian 6-4 as mid-sized oilfield 88
Oct 13, 2015: Primeline Obtains Contract Extension 88
Oct 12, 2015: TPDC, Total Ink MoU On Uganda–Tanzania Oil Pipeline Study 89
Oct 02, 2015: China’s Jovo To Receive Indonesian LNG Cargo 89
Aug 26, 2015: CNOOC: Lowering Costs And Enhancing Efficiency Program Achieved Remarkable Results Steady Development With Solid Performance In 1H 2015 90
Aug 24, 2015: Chine's CNOOC Completes Drilling Of Deepwater Exploration Well 91
Aug 21, 2015: Mexico's CNH Pre-qualifies Fourteen Bidders For Phase 2 Of Round One Oil Auction 91
Appendix 92
Methodology 92
Coverage 92
Secondary Research 92
Primary Research 92
Data Information Sources 93
Company Source 93
SEC/Other Regulatory Filings 93
Other Sources 93
Expert Panel Validation 93
Data Definition 93
Oil and Gas Reserves 93
Units of Measure 94
About GlobalData 94
Disclosure 94
Disclaimer 94

List of Tables
Table 1: CNOOC Limited, Key Facts 8
Table 2: CNOOC Limited, Share Price Performance, Q2, 2014-Q2, 2015 9
Table 3: CNOOC Limited, Key Valuation Metrics, Q2, 2014-Q2, 2015 10
Table 4: CNOOC Limited, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q2, 2014-Q2, 2015 11
Table 5: CNOOC Limited, Results of Oil & Gas Operations Per boe Growth Rates, %, Q2, 2014-Q2, 2015 12
Table 6: CNOOC Limited, Upstream Capital Expenditure, Q2, 2014-Q2, 2015 13
Table 7: CNOOC Limited, Total Crude Oil and Natural Gas, Production, Q2, 2014-Q2, 2015 14
Table 8: CNOOC Limited, Total Oil & Gas Production, By Country/Region, mmboe, Q2, 2014-Q2, 2015 15
Table 9: CNOOC Limited, Total Crude Oil Production, mmbbl, Q2, 2014-Q2, 2015 16
Table 10: CNOOC Limited, Crude Oil Production, By Country/Region, mmbbl, Q2, 2014-Q2, 2015 17
Table 11: CNOOC Limited, Total Natural Gas Production, bcf, Q2, 2014-Q2, 2015 18
Table 12: CNOOC Limited, Natural Gas Production, By Country/Region, bcf, Q2, 2014-Q2, 2015 19
Table 13: CNOOC Limited, Share Price Performance, 2010-2014 20
Table 14: CNOOC Limited, Key Valuation Metrics, 2010-2014 21
Table 15: CNOOC Limited, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2010-2014 23
Table 16: CNOOC Limited, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2010-2014 25
Table 17: CNOOC Limited, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2010-2014 26
Table 18: CNOOC Limited, Crude Oil Production and Reserves Metrics, mmbbl, 2010-2014 27
Table 19: CNOOC Limited, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2010-2014 29
Table 20: CNOOC Limited, Crude Oil Reserve Changes, mmbbl, 2010-2014 30
Table 21: CNOOC Limited, Natural Gas Production and Reserves Metrics, bcf, 2010-2014 31
Table 22: CNOOC Limited, Natural Gas Production and Reserves, By Country/Region, bcf, 2010-2014 33
Table 23: CNOOC Limited, Natural Gas Reserve Changes, bcf, 2010-2014 34
Table 24: CNOOC Limited, Oil and Gas Reserves Life Index, Years, 2010-2014 35
Table 25: CNOOC Limited, Oil and Gas Reserves Life Index, By Country/Region, Years, 2010-2014 38
Table 26: CNOOC Limited, Upstream Capital Expenditure, US$ mil, 2010-2014 39
Table 27: CNOOC Limited, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2010-2014 41
Table 28: CNOOC Limited, Exploration and Development Costs, By Country/Region, US$ mil, 2010-2014 43
Table 29: CNOOC Limited, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2010-2014 45
Table 30: CNOOC Limited, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2010-2014 48
Table 31: CNOOC Limited, Oil and Gas Production Replacement Ratio, %, 2010-2014 50
Table 32: CNOOC Limited, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2010-2014 54
Table 33: CNOOC Limited, Revenue and Expenses, US$ mil, 2010-2014 57
Table 34: CNOOC Limited, Revenue and Expenses, By Country/Region, US$ mil, 2010-2014 62
Table 35: CNOOC Limited, Oil and Gas Revenue and Expenses, US$/boe, 2010-2014 64
Table 36: CNOOC Limited, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2010-2014 69
Table 37: CNOOC Limited, Oil and Gas Performance Metrics, 2010-2014 71
Table 38: CNOOC Limited, Land Holdings (Developed and Undeveloped Acreage), Acres, 2010-2014 72
Table 39: CNOOC Limited, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2010-2014 75
Table 40: CNOOC Limited, Producible Oil and Gas Wells, 2010-2014 76
Table 41: CNOOC Limited, Producible Oil and Gas Wells, By Country/Region, 2010-2014 80
Table 42: CNOOC Limited, Exploratory and Developed Wells, 2010-2014 83
Table 43: CNOOC Limited, Exploratory and Developed Wells, By Country/Region, 2010-2014 84

List of Figures
Figure 1: CNOOC Limited, Share Price Performance, USD/Share, Q2, 2014-Q2, 2015 9
Figure 2: CNOOC Limited, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q2, 2014-Q2, 2015 10
Figure 3: CNOOC Limited, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q2, 2014-Q2, 2015 11
Figure 4: CNOOC Limited, Upstream Capital Expenditure, US$ mil, Q2, 2014-Q2, 2015 13
Figure 5: CNOOC Limited, Total Crude Oil and Natural Gas, Production, mmboe, Q2, 2014-Q2, 2015 14
Figure 6: CNOOC Limited, Total Oil & Gas Production, By Country/Region, mmboe, Q2, 2014-Q2, 2015 15
Figure 7: CNOOC Limited, Total Crude Oil Production, mmbbl, Q2, 2014-Q2, 2015 16
Figure 8: CNOOC Limited, Crude Oil Production, By Country/Region, mmbbl, Q2, 2014-Q2, 2015 17
Figure 9: CNOOC Limited, Total Natural Gas Production, bcf, Q2, 2014-Q2, 2015 18
Figure 10: CNOOC Limited, Natural Gas Production, By Country/Region, bcf, Q2, 2014-Q2, 2015 19
Figure 11: CNOOC Limited, Share Price Performance, USD/Share, 2010-2014 20
Figure 12: CNOOC Limited, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2010-2014 21
Figure 13: CNOOC Limited, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2010-2014 22
Figure 14: CNOOC Limited, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2010-2014 24
Figure 15: CNOOC Limited, Total Oil & Gas Production, By Country/Region, mmboe, 2010-2014 24
Figure 16: CNOOC Limited, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2014 26
Figure 17: CNOOC Limited, Crude Oil Production and Reserves Metrics, mmbbl, 2010-2014 27
Figure 18: CNOOC Limited, Oil Reserves, End of Period, By Country/Region, mmbbl, 2010-2014 28
Figure 19: CNOOC Limited, Oil Production, By Country/Region, mmbbl, 2010-2014 28
Figure 20: CNOOC Limited, Crude Oil Reserve Changes, mmbbl, 2014 30
Figure 21: CNOOC Limited, Natural Gas Production and Reserves Metrics, bcf, 2010-2014 31
Figure 22: CNOOC Limited, Gas Reserves, End of Period, By Country/Region, bcf, 2010-2014 32
Figure 23: CNOOC Limited, Gas Production, By Country/Region, bcf, 2010-2014 32
Figure 24: CNOOC Limited, Natural Gas Reserve Changes, bcf, 2014 34
Figure 25: CNOOC Limited, Oil and Gas Reserves Life Index, Years, 2010-2014 35
Figure 26: CNOOC Limited, Gas Reserve Life Index, By Country/Region, Years, 2010-2014 36
Figure 27: CNOOC Limited, Oil & Gas Reserve Life Index, By Country/Region, Years, 2010-2014 36
Figure 28: CNOOC Limited, Oil Reserve Life Index, By Country/Region, Years, 2010-2014 37
Figure 29: CNOOC Limited, Upstream Capital Expenditure, US$ mil, 2010-2014 39
Figure 30: CNOOC Limited, Proved Acquisition Costs, By Country/Region, US$ mil, 2010-2014 40
Figure 31: CNOOC Limited, Unproved Acquisition Costs, By Country/Region, US$ mil, 2010-2014 40
Figure 32: CNOOC Limited, Development Costs, By Country/Region, US$ mil, 2010-2014 42
Figure 33: CNOOC Limited, Exploration Costs, By Country/Region, US$ mil, 2010-2014 42
Figure 34: CNOOC Limited, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2010-2014 44
Figure 35: CNOOC Limited, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, $/boe, 2010-2014 46
Figure 36: CNOOC Limited, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, $/Boe, 2010-2014 46
Figure 37: CNOOC Limited, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, $/boe, 2010-2014 47
Figure 38: CNOOC Limited, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2010-2014 49
Figure 39: CNOOC Limited, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2010-2014 51
Figure 40: CNOOC Limited, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2010-2014 51
Figure 41: CNOOC Limited, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2010-2014 52
Figure 42: CNOOC Limited, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2010-2014 52
Figure 43: CNOOC Limited, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2010-2014 53
Figure 44: CNOOC Limited, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2010-2014 53
Figure 45: CNOOC Limited, Revenue and Expenses, US$ mil, 2010-2014 56
Figure 46: CNOOC Limited, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 58
Figure 47: CNOOC Limited, Exploration Expenses, By Country/Region, US$ mil, 2010-2014 58
Figure 48: CNOOC Limited, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 59
Figure 49: CNOOC Limited, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 59
Figure 50: CNOOC Limited, Oil & Gas Revenue, By Country/Region, US$ mil, 2010-2014 60
Figure 51: CNOOC Limited, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 60
Figure 52: CNOOC Limited, Production Costs, By Country/Region, US$ mil, 2010-2014 61
Figure 53: CNOOC Limited, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 61
Figure 54: CNOOC Limited, Oil and Gas Revenue and Expenses, US$/boe, 2010-2014 64
Figure 55: CNOOC Limited, Exploration Expenses per boe, By Country/Region, $/boe, 2010-2014 65
Figure 56: CNOOC Limited, Income Tax/(Benefit) per boe, By Country/Region, $/boe, 2010-2014 65
Figure 57: CNOOC Limited, Lifting Cost per boe, By Country/Region, $/boe, 2010-2014 66
Figure 58: CNOOC Limited, Annual Net Income per boe, By Country/Region, $/boe, 2010-2014 66
Figure 59: CNOOC Limited, Oil & Gas Revenue per boe, By Country/Region, $/boe, 2010-2014 67
Figure 60: CNOOC Limited, Total DD&A per boe, By Country/Region, $/boe, 2010-2014 67
Figure 61: CNOOC Limited, Total Revenue per boe, By Country/Region, $/boe, 2010-2014 68
Figure 62: CNOOC Limited, Oil and Gas Performance Metrics, 2010-2014 71
Figure 63: CNOOC Limited, Land Holdings (Developed and Undeveloped Acreage), Acres, 2010-2014 72
Figure 64: CNOOC Limited, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2010-2014 73
Figure 65: CNOOC Limited, Total Net Undeveloped Acreage, By Country/Region, Acres, 2010-2014 73
Figure 66: CNOOC Limited, Total Gross Developed Acreage, By Country/Region, Acres, 2010-2014 74
Figure 67: CNOOC Limited, Total Net Developed Acreage, By Country/Region, Acres, 2010-2014 74
Figure 68: CNOOC Limited, Producible Oil and Gas Wells, 2010-2014 76
Figure 69: CNOOC Limited, Gross Productive Gas Wells, By Country/Region, Number, 2010-2014 77
Figure 70: CNOOC Limited, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2010-2014 77
Figure 71: CNOOC Limited, Gross Productive Oil Wells, By Country/Region, Number, 2010-2014 78
Figure 72: CNOOC Limited, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2010-2014 78
Figure 73: CNOOC Limited, Net Productive Gas Wells, By Country/Region, Number, 2010-2014 79
Figure 74: CNOOC Limited, Net Productive Oil & Gas Wells, By Country/Region, Number, 2010-2014 79
Figure 75: CNOOC Limited, Net Productive Oil Wells, By Country/Region, Number, 2010-2014 80
Figure 76: CNOOC Limited, Exploratory and Developed Wells, 2010-2014 82


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