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CNOOC Ltd Oil & Gas Exploration and Production Operations and Cost Analysis - Q1, 2018

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Details

Summary

CNOOC Ltd 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 metrics, analysis and provides a strategic insight into the company. The report provides an annual and quarterly overview of oil and gas reserves and production, changes in reserves, costs incurred and results of oil and gas operations, acreage and well details, share price performance and key valuation metrics.

CNOOC Ltd (CNOOC) is an upstream oil and gas company. It carries out exploration, development, production and sale of crude oil and natural gas. The company has operations in Bohai, Western South China Sea, Eastern South China Sea and East China Sea in offshore China. It operates either independently or in cooperation with foreign partners through production sharing contracts. In overseas, the company holds interests in oil and natural gas blocks in Argentina, Australia, Brazil, Canada, Guyana, Indonesia Nigeria, the UK, Uganda, the US, and other countries. The company operates as a subsidiary of China National Offshore Oil Corp. CNOOC is headquartered in Beijing, China.

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 following-

- The report provides detailed and unique insight information on the key operational metrics. It gives a comprehensive overview of oil and gas production and reserves, costs incurred and results of oil and gas operations, acreage and well details and other performance metrics.

- Provides details with respect to the company's oil and gas reserves and production information by country. It further consists of in-depth information on the company's expenditures in relation to the acquisition, exploration and development activities; developed and undeveloped acreage position; key costs and revenue information; and performance metrics of the company as disclosed in its annual reports and regulatory filings.

- Provides a comprehensive overview of the company's share price performance and key valuation metrics such as market capitalization, enterprise value, EV/Production (USD boe/d) and EV/Proved Reserve (USD /boe)

- Provides information on key operational and financial metrics on an annual and quarterly basis. The annual information provided is for a five-year period and the quarterly information is for the last five quarters.

*Note:

1. The scope mentioned above is generic and may not apply to all the companies. The report is based on the information disclosed by the companies in their annual and quarterly reports, regulatory filings and other company documents and sources.

2. Quarterly information is provided only for the companies that are December ending and files quarter reports and documents.

3. There can be cases where countries/regions data column/Charts will be blank. This can be due to the fact that the company might have discontinued the reporting of those countries/regions. Information that is not disclosed by the company may not be available in the report.

Reasons to buy

The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to-

- Be up-to-date with the latest information and in-depth analysis of the operational metrics of the company.

- Identify M&A targets from up-to-date information and in-depth analysis on financial and operational metrics of your competitors.

- Rank your performance against other companies in the exploration and production (E&P) sector 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 metrics.

- Establish relative performance among the industry's players based on key operational and financial measures.

READ MORE

Table Of Content

Scope

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 Ltd, Valuation and Financial Data 8

CNOOC Ltd, Share Price Performance 8

Share Price Performance, Q1, 2017-Q1, 2018 8

CNOOC Ltd, Key Valuation Metrics 9

Key Valuation Metrics, Q1, 2017-Q1, 2018 9

CNOOC Ltd, Quarterly Results of Oil & Gas Operations Per boe Produced 10

Results of Oil & Gas Operations Per boe Growth Rates, Q1, 2017-Q1, 2018 11

CNOOC Ltd, Quarterly E&P Costs Trends 12

Upstream Capital Expenditure, Q1, 2017-Q1, 2018 12

CNOOC Ltd, Quarterly Production Trends 13

CNOOC Ltd, Total Oil and Gas Production 13

Total Crude Oil & Natural Gas Production, By Country/Region, Q1, 2017-Q1, 2018 15

CNOOC Ltd, Crude Oil Production 16

Total Crude Oil Production Trend, Q1, 2017-Q1, 2018 16

Crude Oil Production, By Country/Region, Q1, 2017-Q1, 2018 17

CNOOC Ltd, Natural Gas Production 18

Total Natural Gas Production Trend, Q1, 2017-Q1, 2018 18

Natural Gas Production, By Country/Region, Q1, 2017-Q1, 2018 19

CNOOC Ltd, Valuation and Financial Data, 2013-2017 20

CNOOC Ltd, Share Price Performance, 2013-2017 20

Share Price Performance, 2013-2017 20

Key Valuation Metrics, 2013-2017 22

CNOOC Ltd, Production and Reserves Trends 23

Total Oil and Gas, Reserves and Production 23

Total Crude Oil and Natural Gas Production and Reserves Trend, 2013-2017 23

Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2013-2017 25

Total Crude Oil and Natural Gas Reserve Changes, 2013-2017 28

Crude Oil/Liquids Production and Reserve 29

Crude Oil/Liquids Production and Reserve Trend, 2013-2017 29

Crude Oil Production and Reserves By Country/Region, 2013-2017 30

Natural Gas Production and Reserve 34

Natural Gas Production and Reserve Trend, 2013-2017 34

Natural Gas Production and Reserves, By Country/Region, 2013-2017 36

Natural Gas Reserve Changes, 2013-2017 39

Total Crude Oil and Natural Gas Reserves Life Index 40

Total Crude Oil and Natural Gas Reserves Life Index, 2013-2017 40

Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2013-2017 41

CNOOC Ltd, E&P Costs Trends 45

Allocation of the Upstream Capital Expenditure 45

Upstream Capital Expenditure, 2013-2017 45

Oil and Gas Cost Per boe, USD /boe 49

Oil and Gas Cost Per boe, USD /boe, 2013-2017 49

Oil and Gas Cost Per boe, USD /boe, By Country/Region, 2013-2017 51

CNOOC Ltd, Reserve Replacement Ratio 55

Oil and Gas Production Replacement Ratio 55

Oil and Gas Production Replacement Ratio, 2013-2017 55

Oil and Gas Production Replacement Ratio, By Country/Region, 2013-2017 58

CNOOC Ltd, Results of Oil & Gas Operations Trend 65

Oil and Gas Revenue and Expenses 65

Oil and Gas Revenue and Expenses, 2013-2017 65

Oil and Gas Revenue and Expenses, Per boe 75

Oil and Gas Revenue and Expenses, By boe, 2013-2017 75

Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2013-2017 77

Oil and Gas Performance Metrics 84

CNOOC Ltd, Land Holdings and Well Data 85

Developed and Undeveloped Acreage 85

Gross and Net Developed and Undeveloped Acreage, 2013-2017 85

Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2013-2017 87

Well Statistics 91

Producible Oil and Gas Well, 2013-2017 91

Producible Oil and Gas Well, By Country/Region, 2013-2017 93

Exploration and Development Wells Drilled, 2013-2017 100

Exploration and Development Wells Drilled, By Country/Region, 2013-2017 102

Recent Developments 105

CNOOC Ltd-Recent Developments 105

Aug 23, 2018: CNOOC announces 2018 interim results for the six months ended June 30, 2018 105

Aug 23, 2018: CNOOC announces 2018 interim results for the six months ended June 30, 2018 105

Aug 23, 2018: CNOOC announces 2018 interim results for the six months ended June 30, 2018 106

Aug 23, 2018: CNOOC maintaining high-quality development with profit surged 107

Aug 17, 2018: CNOOC awards contracts for Liuhua oil fields offshore Hong Kong 107

Aug 09, 2018: Energy firms to boost investments in Chinese oil and gas 108

Aug 09, 2018: WorleyParsons: Nexen awards EPC contract for Buzzard Phase II development project 109

Aug 09, 2018: WorleyParsons: Nexen awards EPC contract for Buzzard Phase II development project 109

Aug 09, 2018: WorleyParsons: Nexen awards EPC contract for Buzzard Phase II development project 110

Aug 08, 2018: Horizon Oil (HZN) begins production from infill wells on WZ 12-8w and WZ 12-8m fields in China 110

Appendix 112

Methodology 112

Coverage 112

Secondary Research 112

Primary Research 113

Data Information Sources 113

Company Source 113

SEC/Other Regulatory Filings 113

Other Sources 113

Expert Panel Validation 113

Data Definition 114

Oil and Gas Reserves 114

Units of Measure 114

About GlobalData 115

Disclosure 115

Disclaimer 115


List Of Figure

List of Figures

Figure 1: CNOOC Ltd, Share Price Performance, USD/Share, Q1, 2017-Q1, 2018 8

Figure 2: CNOOC Ltd, Key Valuation Metrics, EV/Production (USD /boed), EV/Proved Reserve (USD /boe), Q1, 2017-Q1, 2018 9

Figure 3: CNOOC Ltd, Results of Oil & Gas Operations Per boe Produced, USD /boe, Q1, 2017-Q1, 2018 10

Figure 4: CNOOC Ltd, Upstream Capital Expenditure, USD mil, Q1, 2017-Q1, 2018 12

Figure 5: CNOOC Ltd, Total Crude Oil and Natural Gas, Production, mmboe, Q1, 2017-Q1, 2018 13

Figure 6: CNOOC Ltd, Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2017-Q1, 2018 15

Figure 7: CNOOC Ltd, Total Crude Oil Production, mmbbl, Q1, 2017-Q1, 2018 16

Figure 8: CNOOC Ltd, Crude Oil Production, By Country/Region, mmbbl, Q1, 2017-Q1, 2018 17

Figure 9: CNOOC Ltd, Total Natural Gas Production, bcf, Q1, 2017-Q1, 2018 18

Figure 10: CNOOC Ltd, Natural Gas Production, By Country/Region, bcf, Q1, 2017-Q1, 2018 19

Figure 11: CNOOC Ltd, Share Price Performance, USD/Share, 2013-2017 20

Figure 12: CNOOC Ltd, Key Valuation Metrics, EV/Production (USD /boed), EV/Proved Reserve (USD /boe), 2013-2017 22

Figure 13: CNOOC Ltd, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2013-2017 23

Figure 14: CNOOC Ltd, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2013-2017 25

Figure 15: CNOOC Ltd, Total Oil & Gas Production, By Country/Region, mmboe, 2013-2017 25

Figure 18: CNOOC Ltd, Oil Reserves, End of Period, By Country/Region, mmbbl, 2013-2017 30

Figure 19: CNOOC Ltd, Oil Production, By Country/Region, mmbbl, 2013-2017 30

Figure 21: CNOOC Ltd, Natural Gas Production and Reserves Metrics, bcf, 2013-2017 34

Figure 22: CNOOC Ltd, Gas Reserves, End of Period, By Country/Region, bcf, 2013-2017 36

Figure 23: CNOOC Ltd, Gas Production, By Country/Region, bcf, 2013-2017 36

Figure 25: CNOOC Ltd, Oil and Gas Reserves Life Index, Years, 2013-2017 40

Figure 26: CNOOC Ltd, Gas Reserve Life Index, By Country/Region, Years, 2013-2017 41

Figure 27: CNOOC Ltd, Oil & Gas Reserve Life Index, By Country/Region, Years, 2013-2017 41

Figure 28: CNOOC Ltd, Oil Reserve Life Index, By Country/Region, Years, 2013-2017 42

Figure 29: CNOOC Ltd, Upstream Capital Expenditure, USD mil, 2013-2017 45

Figure 32: CNOOC Ltd, Development Costs, By Country/Region, USD mil, 2013-2017 47

Figure 33: CNOOC Ltd, Exploration Costs, By Country/Region, USD mil, 2013-2017 47

Figure 34: CNOOC Ltd, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, USD /boe, 2013-2017 49

Figure 35: CNOOC Ltd, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, USD /boe, 2013-2017 51

Figure 36: CNOOC Ltd, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, USD /Boe, 2013-2017 51

Figure 37: CNOOC Ltd, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, USD /boe, 2013-2017 52

Figure 38: CNOOC Ltd, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2013-2017 55

Figure 39: CNOOC Ltd, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2013-2017 58

Figure 40: CNOOC Ltd, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2013-2017 58

Figure 41: CNOOC Ltd, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2013-2017 59

Figure 42: CNOOC Ltd, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2013-2017 60

Figure 43: CNOOC Ltd, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2013-2017 60

Figure 44: CNOOC Ltd, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2013-2017 61

Figure 45: CNOOC Ltd, Revenue and Expenses, USD mil, 2013-2017 65

Figure 47: CNOOC Ltd, Exploration Expenses, By Country/Region, USD mil, 2013-2017 67

Figure 48: CNOOC Ltd, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, USD mil, 2013-2017 67

Figure 49: CNOOC Ltd, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, USD mil, 2013-2017 68

Figure 50: CNOOC Ltd, Oil & Gas Revenue, By Country/Region, USD mil, 2013-2017 69

Figure 51: CNOOC Ltd, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, USD mil, 2013-2017 69

Figure 52: CNOOC Ltd, Production Costs, By Country/Region, USD mil, 2013-2017 70

Figure 53: CNOOC Ltd, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, USD mil, 2013-2017 71

Figure 54: CNOOC Ltd, Oil and Gas Revenue and Expenses, USD /boe, 2013-2017 75

Figure 55: CNOOC Ltd, Exploration Expenses per boe, By Country/Region, USD /boe, 2013-2017 77

Figure 56: CNOOC Ltd, Income Tax/(Benefit) per boe, By Country/Region, USD /boe, 2013-2017 78

Figure 57: CNOOC Ltd, Lifting Cost per boe, By Country/Region, USD /boe, 2013-2017 78

Figure 58: CNOOC Ltd, Annual Net Income per boe, By Country/Region, USD /boe, 2013-2017 79

Figure 59: CNOOC Ltd, Oil & Gas Revenue per boe, By Country/Region, USD /boe, 2013-2017 80

Figure 60: CNOOC Ltd, Total DD&A per boe, By Country/Region, USD /boe, 2013-2017 80

Figure 61: CNOOC Ltd, Total Revenue per boe, By Country/Region, USD /boe, 2013-2017 81

Figure 62: CNOOC Ltd, Oil and Gas Performance Metrics, 2013-2017 84

Figure 63: CNOOC Ltd, Land Holdings (Developed and Undeveloped Acreage), Acres, 2013-2017 85

Figure 64: CNOOC Ltd, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2013-2017 87

Figure 65: CNOOC Ltd, Total Net Undeveloped Acreage, By Country/Region, Acres, 2013-2017 88

Figure 66: CNOOC Ltd, Total Gross Developed Acreage, By Country/Region, Acres, 2013-2017 88

Figure 67: CNOOC Ltd, Total Net Developed Acreage, By Country/Region, Acres, 2013-2017 89

Figure 68: CNOOC Ltd, Producible Oil and Gas Wells, 2013-2017 91

Figure 69: CNOOC Ltd, Gross Productive Gas Wells, By Country/Region, Number, 2013-2017 93

Figure 70: CNOOC Ltd, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2013-2017 94

Figure 71: CNOOC Ltd, Gross Productive Oil Wells, By Country/Region, Number, 2013-2017 94

Figure 72: CNOOC Ltd, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2013-2017 95

Figure 73: CNOOC Ltd, Net Productive Gas Wells, By Country/Region, Number, 2013-2017 96

Figure 74: CNOOC Ltd, Net Productive Oil & Gas Wells, By Country/Region, Number, 2013-2017 96

Figure 75: CNOOC Ltd, Net Productive Oil Wells, By Country/Region, Number, 2013-2017 97

Figure 76: CNOOC Ltd, Exploratory and Developed Wells, 2013-2017 100


List Of Table

List of Tables

Table 1: CNOOC Ltd, Key Facts 7

Table 2: CNOOC Ltd, Share Price Performance, Q1, 2017-Q1, 2018 8

Table 3: CNOOC Ltd, Key Valuation Metrics, Q1, 2017-Q1, 2018 9

Table 4: CNOOC Ltd, Results of Oil & Gas Operations Per boe Produced, USD /boe, Q1, 2017-Q1, 2018 10

Table 5: CNOOC Ltd, Results of Oil & Gas Operations Per boe Growth Rates, %, Q1, 2017-Q1, 2018 11

Table 6: CNOOC Ltd, Upstream Capital Expenditure, Q1, 2017-Q1, 2018 12

Table 7: CNOOC Ltd, Total Crude Oil and Natural Gas, Production, Q1, 2017-Q1, 2018 13

Table 8: CNOOC Ltd, Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2017-Q1, 2018 15

Table 9: CNOOC Ltd, Total Crude Oil Production, mmbbl, Q1, 2017-Q1, 2018 16

Table 10: CNOOC Ltd, Crude Oil Production, By Country/Region, mmbbl, Q1, 2017-Q1, 2018 17

Table 11: CNOOC Ltd, Total Natural Gas Production, bcf, Q1, 2017-Q1, 2018 18

Table 12: CNOOC Ltd, Natural Gas Production, By Country/Region, bcf, Q1, 2017-Q1, 2018 19

Table 13: CNOOC Ltd, Share Price Performance, 2013-2017 21

Table 14: CNOOC Ltd, Key Valuation Metrics, 2013-2017 22

Table 15: CNOOC Ltd, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2013-2017 23

Table 16: CNOOC Ltd, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2013-2017 26

Table 17: CNOOC Ltd, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2013-2017 28

Table 18: CNOOC Ltd, Crude Oil Production and Reserves Metrics, mmbbl, 2013-2017 29

Table 19: CNOOC Ltd, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2013-2017 31

Table 20: CNOOC Ltd, Crude Oil Reserve Changes, mmbbl, 2013-2017 33

Table 21: CNOOC Ltd, Natural Gas Production and Reserves Metrics, bcf, 2013-2017 35

Table 22: CNOOC Ltd, Natural Gas Production and Reserves, By Country/Region, bcf, 2013-2017 38

Table 23: CNOOC Ltd, Natural Gas Reserve Changes, bcf, 2013-2017 39

Table 24: CNOOC Ltd, Oil and Gas Reserves Life Index, Years, 2013-2017 40

Table 25: CNOOC Ltd, Oil and Gas Reserves Life Index, By Country/Region, Years, 2013-2017 43

Table 26: CNOOC Ltd, Upstream Capital Expenditure, USD mil, 2013-2017 46

Table 28: CNOOC Ltd, Exploration and Development Costs, By Country/Region, USD mil, 2013-2017 48

Table 29: CNOOC Ltd, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, USD /boe, 2013-2017 49

Table 30: CNOOC Ltd, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, USD /boe, By Country/Region, 2013-2017 53

Table 31: CNOOC Ltd, Oil and Gas Production Replacement Ratio, %, 2013-2017 56

Table 32: CNOOC Ltd, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2013-2017 62

Table 33: CNOOC Ltd, Revenue and Expenses, USD mil, 2013-2017 65

Table 34: CNOOC Ltd, Revenue and Expenses, By Country/Region, USD mil, 2013-2017 71

Table 35: CNOOC Ltd, Oil and Gas Revenue and Expenses, USD /boe, 2013-2017 76

Table 36: CNOOC Ltd, Oil and Gas Revenue and Expenses, USD /boe, By Country/Region, 2013-2017 81

Table 37: CNOOC Ltd, Oil and Gas Performance Metrics, 2013-2017 84

Table 38: CNOOC Ltd, Land Holdings (Developed and Undeveloped Acreage), Acres, 2013-2017 86

Table 39: CNOOC Ltd, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2013-2017 89

Table 40: CNOOC Ltd, Producible Oil and Gas Wells, 2013-2017 92

Table 41: CNOOC Ltd, Producible Oil and Gas Wells, By Country/Region, 2013-2017 97

Table 42: CNOOC Ltd, Exploratory and Developed Wells, 2013-2017 100

Table 43: CNOOC Ltd, Exploratory and Developed Wells, By Country/Region, 2013-2017 102

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Products

Reserves, Production, Acquisition Costs, Development Costs, Exploration Costs, Total Costs Incurred, Acreage, Well, Price, Oil Reserves, Gas Reserves, Total Oil & Gas Reserves, Oil Production, Gas Production, Total Oil & Gas Production, F&D Costs Per boe, Reserve Replacement Ratio

Company Profile

Company Profile Title

Summary

CNOOC Ltd 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 metrics, analysis and provides a strategic insight into the company. The report provides an annual and quarterly overview of oil and gas reserves and production, changes in reserves, costs incurred and results of oil and gas operations, acreage and well details, share price performance and key valuation metrics.

CNOOC Ltd (CNOOC) is an upstream oil and gas company. It carries out exploration, development, production and sale of crude oil and natural gas. The company has operations in Bohai, Western South China Sea, Eastern South China Sea and East China Sea in offshore China. It operates either independently or in cooperation with foreign partners through production sharing contracts. In overseas, the company holds interests in oil and natural gas blocks in Argentina, Australia, Brazil, Canada, Guyana, Indonesia Nigeria, the UK, Uganda, the US, and other countries. The company operates as a subsidiary of China National Offshore Oil Corp. CNOOC is headquartered in Beijing, China.

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 following-

- The report provides detailed and unique insight information on the key operational metrics. It gives a comprehensive overview of oil and gas production and reserves, costs incurred and results of oil and gas operations, acreage and well details and other performance metrics.

- Provides details with respect to the company's oil and gas reserves and production information by country. It further consists of in-depth information on the company's expenditures in relation to the acquisition, exploration and development activities; developed and undeveloped acreage position; key costs and revenue information; and performance metrics of the company as disclosed in its annual reports and regulatory filings.

- Provides a comprehensive overview of the company's share price performance and key valuation metrics such as market capitalization, enterprise value, EV/Production (USD boe/d) and EV/Proved Reserve (USD /boe)

- Provides information on key operational and financial metrics on an annual and quarterly basis. The annual information provided is for a five-year period and the quarterly information is for the last five quarters.

*Note:

1. The scope mentioned above is generic and may not apply to all the companies. The report is based on the information disclosed by the companies in their annual and quarterly reports, regulatory filings and other company documents and sources.

2. Quarterly information is provided only for the companies that are December ending and files quarter reports and documents.

3. There can be cases where countries/regions data column/Charts will be blank. This can be due to the fact that the company might have discontinued the reporting of those countries/regions. Information that is not disclosed by the company may not be available in the report.

Reasons to buy

The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to-

- Be up-to-date with the latest information and in-depth analysis of the operational metrics of the company.

- Identify M&A targets from up-to-date information and in-depth analysis on financial and operational metrics of your competitors.

- Rank your performance against other companies in the exploration and production (E&P) sector 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 metrics.

- Establish relative performance among the industry's players based on key operational and financial measures.

READ MORE

Scope

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 Ltd, Valuation and Financial Data 8

CNOOC Ltd, Share Price Performance 8

Share Price Performance, Q1, 2017-Q1, 2018 8

CNOOC Ltd, Key Valuation Metrics 9

Key Valuation Metrics, Q1, 2017-Q1, 2018 9

CNOOC Ltd, Quarterly Results of Oil & Gas Operations Per boe Produced 10

Results of Oil & Gas Operations Per boe Growth Rates, Q1, 2017-Q1, 2018 11

CNOOC Ltd, Quarterly E&P Costs Trends 12

Upstream Capital Expenditure, Q1, 2017-Q1, 2018 12

CNOOC Ltd, Quarterly Production Trends 13

CNOOC Ltd, Total Oil and Gas Production 13

Total Crude Oil & Natural Gas Production, By Country/Region, Q1, 2017-Q1, 2018 15

CNOOC Ltd, Crude Oil Production 16

Total Crude Oil Production Trend, Q1, 2017-Q1, 2018 16

Crude Oil Production, By Country/Region, Q1, 2017-Q1, 2018 17

CNOOC Ltd, Natural Gas Production 18

Total Natural Gas Production Trend, Q1, 2017-Q1, 2018 18

Natural Gas Production, By Country/Region, Q1, 2017-Q1, 2018 19

CNOOC Ltd, Valuation and Financial Data, 2013-2017 20

CNOOC Ltd, Share Price Performance, 2013-2017 20

Share Price Performance, 2013-2017 20

Key Valuation Metrics, 2013-2017 22

CNOOC Ltd, Production and Reserves Trends 23

Total Oil and Gas, Reserves and Production 23

Total Crude Oil and Natural Gas Production and Reserves Trend, 2013-2017 23

Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2013-2017 25

Total Crude Oil and Natural Gas Reserve Changes, 2013-2017 28

Crude Oil/Liquids Production and Reserve 29

Crude Oil/Liquids Production and Reserve Trend, 2013-2017 29

Crude Oil Production and Reserves By Country/Region, 2013-2017 30

Natural Gas Production and Reserve 34

Natural Gas Production and Reserve Trend, 2013-2017 34

Natural Gas Production and Reserves, By Country/Region, 2013-2017 36

Natural Gas Reserve Changes, 2013-2017 39

Total Crude Oil and Natural Gas Reserves Life Index 40

Total Crude Oil and Natural Gas Reserves Life Index, 2013-2017 40

Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2013-2017 41

CNOOC Ltd, E&P Costs Trends 45

Allocation of the Upstream Capital Expenditure 45

Upstream Capital Expenditure, 2013-2017 45

Oil and Gas Cost Per boe, USD /boe 49

Oil and Gas Cost Per boe, USD /boe, 2013-2017 49

Oil and Gas Cost Per boe, USD /boe, By Country/Region, 2013-2017 51

CNOOC Ltd, Reserve Replacement Ratio 55

Oil and Gas Production Replacement Ratio 55

Oil and Gas Production Replacement Ratio, 2013-2017 55

Oil and Gas Production Replacement Ratio, By Country/Region, 2013-2017 58

CNOOC Ltd, Results of Oil & Gas Operations Trend 65

Oil and Gas Revenue and Expenses 65

Oil and Gas Revenue and Expenses, 2013-2017 65

Oil and Gas Revenue and Expenses, Per boe 75

Oil and Gas Revenue and Expenses, By boe, 2013-2017 75

Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2013-2017 77

Oil and Gas Performance Metrics 84

CNOOC Ltd, Land Holdings and Well Data 85

Developed and Undeveloped Acreage 85

Gross and Net Developed and Undeveloped Acreage, 2013-2017 85

Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2013-2017 87

Well Statistics 91

Producible Oil and Gas Well, 2013-2017 91

Producible Oil and Gas Well, By Country/Region, 2013-2017 93

Exploration and Development Wells Drilled, 2013-2017 100

Exploration and Development Wells Drilled, By Country/Region, 2013-2017 102

Recent Developments 105

CNOOC Ltd-Recent Developments 105

Aug 23, 2018: CNOOC announces 2018 interim results for the six months ended June 30, 2018 105

Aug 23, 2018: CNOOC announces 2018 interim results for the six months ended June 30, 2018 105

Aug 23, 2018: CNOOC announces 2018 interim results for the six months ended June 30, 2018 106

Aug 23, 2018: CNOOC maintaining high-quality development with profit surged 107

Aug 17, 2018: CNOOC awards contracts for Liuhua oil fields offshore Hong Kong 107

Aug 09, 2018: Energy firms to boost investments in Chinese oil and gas 108

Aug 09, 2018: WorleyParsons: Nexen awards EPC contract for Buzzard Phase II development project 109

Aug 09, 2018: WorleyParsons: Nexen awards EPC contract for Buzzard Phase II development project 109

Aug 09, 2018: WorleyParsons: Nexen awards EPC contract for Buzzard Phase II development project 110

Aug 08, 2018: Horizon Oil (HZN) begins production from infill wells on WZ 12-8w and WZ 12-8m fields in China 110

Appendix 112

Methodology 112

Coverage 112

Secondary Research 112

Primary Research 113

Data Information Sources 113

Company Source 113

SEC/Other Regulatory Filings 113

Other Sources 113

Expert Panel Validation 113

Data Definition 114

Oil and Gas Reserves 114

Units of Measure 114

About GlobalData 115

Disclosure 115

Disclaimer 115


List Of Figure

List of Figures

Figure 1: CNOOC Ltd, Share Price Performance, USD/Share, Q1, 2017-Q1, 2018 8

Figure 2: CNOOC Ltd, Key Valuation Metrics, EV/Production (USD /boed), EV/Proved Reserve (USD /boe), Q1, 2017-Q1, 2018 9

Figure 3: CNOOC Ltd, Results of Oil & Gas Operations Per boe Produced, USD /boe, Q1, 2017-Q1, 2018 10

Figure 4: CNOOC Ltd, Upstream Capital Expenditure, USD mil, Q1, 2017-Q1, 2018 12

Figure 5: CNOOC Ltd, Total Crude Oil and Natural Gas, Production, mmboe, Q1, 2017-Q1, 2018 13

Figure 6: CNOOC Ltd, Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2017-Q1, 2018 15

Figure 7: CNOOC Ltd, Total Crude Oil Production, mmbbl, Q1, 2017-Q1, 2018 16

Figure 8: CNOOC Ltd, Crude Oil Production, By Country/Region, mmbbl, Q1, 2017-Q1, 2018 17

Figure 9: CNOOC Ltd, Total Natural Gas Production, bcf, Q1, 2017-Q1, 2018 18

Figure 10: CNOOC Ltd, Natural Gas Production, By Country/Region, bcf, Q1, 2017-Q1, 2018 19

Figure 11: CNOOC Ltd, Share Price Performance, USD/Share, 2013-2017 20

Figure 12: CNOOC Ltd, Key Valuation Metrics, EV/Production (USD /boed), EV/Proved Reserve (USD /boe), 2013-2017 22

Figure 13: CNOOC Ltd, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2013-2017 23

Figure 14: CNOOC Ltd, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2013-2017 25

Figure 15: CNOOC Ltd, Total Oil & Gas Production, By Country/Region, mmboe, 2013-2017 25

Figure 18: CNOOC Ltd, Oil Reserves, End of Period, By Country/Region, mmbbl, 2013-2017 30

Figure 19: CNOOC Ltd, Oil Production, By Country/Region, mmbbl, 2013-2017 30

Figure 21: CNOOC Ltd, Natural Gas Production and Reserves Metrics, bcf, 2013-2017 34

Figure 22: CNOOC Ltd, Gas Reserves, End of Period, By Country/Region, bcf, 2013-2017 36

Figure 23: CNOOC Ltd, Gas Production, By Country/Region, bcf, 2013-2017 36

Figure 25: CNOOC Ltd, Oil and Gas Reserves Life Index, Years, 2013-2017 40

Figure 26: CNOOC Ltd, Gas Reserve Life Index, By Country/Region, Years, 2013-2017 41

Figure 27: CNOOC Ltd, Oil & Gas Reserve Life Index, By Country/Region, Years, 2013-2017 41

Figure 28: CNOOC Ltd, Oil Reserve Life Index, By Country/Region, Years, 2013-2017 42

Figure 29: CNOOC Ltd, Upstream Capital Expenditure, USD mil, 2013-2017 45

Figure 32: CNOOC Ltd, Development Costs, By Country/Region, USD mil, 2013-2017 47

Figure 33: CNOOC Ltd, Exploration Costs, By Country/Region, USD mil, 2013-2017 47

Figure 34: CNOOC Ltd, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, USD /boe, 2013-2017 49

Figure 35: CNOOC Ltd, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, USD /boe, 2013-2017 51

Figure 36: CNOOC Ltd, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, USD /Boe, 2013-2017 51

Figure 37: CNOOC Ltd, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, USD /boe, 2013-2017 52

Figure 38: CNOOC Ltd, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2013-2017 55

Figure 39: CNOOC Ltd, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2013-2017 58

Figure 40: CNOOC Ltd, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2013-2017 58

Figure 41: CNOOC Ltd, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2013-2017 59

Figure 42: CNOOC Ltd, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2013-2017 60

Figure 43: CNOOC Ltd, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2013-2017 60

Figure 44: CNOOC Ltd, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2013-2017 61

Figure 45: CNOOC Ltd, Revenue and Expenses, USD mil, 2013-2017 65

Figure 47: CNOOC Ltd, Exploration Expenses, By Country/Region, USD mil, 2013-2017 67

Figure 48: CNOOC Ltd, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, USD mil, 2013-2017 67

Figure 49: CNOOC Ltd, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, USD mil, 2013-2017 68

Figure 50: CNOOC Ltd, Oil & Gas Revenue, By Country/Region, USD mil, 2013-2017 69

Figure 51: CNOOC Ltd, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, USD mil, 2013-2017 69

Figure 52: CNOOC Ltd, Production Costs, By Country/Region, USD mil, 2013-2017 70

Figure 53: CNOOC Ltd, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, USD mil, 2013-2017 71

Figure 54: CNOOC Ltd, Oil and Gas Revenue and Expenses, USD /boe, 2013-2017 75

Figure 55: CNOOC Ltd, Exploration Expenses per boe, By Country/Region, USD /boe, 2013-2017 77

Figure 56: CNOOC Ltd, Income Tax/(Benefit) per boe, By Country/Region, USD /boe, 2013-2017 78

Figure 57: CNOOC Ltd, Lifting Cost per boe, By Country/Region, USD /boe, 2013-2017 78

Figure 58: CNOOC Ltd, Annual Net Income per boe, By Country/Region, USD /boe, 2013-2017 79

Figure 59: CNOOC Ltd, Oil & Gas Revenue per boe, By Country/Region, USD /boe, 2013-2017 80

Figure 60: CNOOC Ltd, Total DD&A per boe, By Country/Region, USD /boe, 2013-2017 80

Figure 61: CNOOC Ltd, Total Revenue per boe, By Country/Region, USD /boe, 2013-2017 81

Figure 62: CNOOC Ltd, Oil and Gas Performance Metrics, 2013-2017 84

Figure 63: CNOOC Ltd, Land Holdings (Developed and Undeveloped Acreage), Acres, 2013-2017 85

Figure 64: CNOOC Ltd, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2013-2017 87

Figure 65: CNOOC Ltd, Total Net Undeveloped Acreage, By Country/Region, Acres, 2013-2017 88

Figure 66: CNOOC Ltd, Total Gross Developed Acreage, By Country/Region, Acres, 2013-2017 88

Figure 67: CNOOC Ltd, Total Net Developed Acreage, By Country/Region, Acres, 2013-2017 89

Figure 68: CNOOC Ltd, Producible Oil and Gas Wells, 2013-2017 91

Figure 69: CNOOC Ltd, Gross Productive Gas Wells, By Country/Region, Number, 2013-2017 93

Figure 70: CNOOC Ltd, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2013-2017 94

Figure 71: CNOOC Ltd, Gross Productive Oil Wells, By Country/Region, Number, 2013-2017 94

Figure 72: CNOOC Ltd, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2013-2017 95

Figure 73: CNOOC Ltd, Net Productive Gas Wells, By Country/Region, Number, 2013-2017 96

Figure 74: CNOOC Ltd, Net Productive Oil & Gas Wells, By Country/Region, Number, 2013-2017 96

Figure 75: CNOOC Ltd, Net Productive Oil Wells, By Country/Region, Number, 2013-2017 97

Figure 76: CNOOC Ltd, Exploratory and Developed Wells, 2013-2017 100


List Of Table

List of Tables

Table 1: CNOOC Ltd, Key Facts 7

Table 2: CNOOC Ltd, Share Price Performance, Q1, 2017-Q1, 2018 8

Table 3: CNOOC Ltd, Key Valuation Metrics, Q1, 2017-Q1, 2018 9

Table 4: CNOOC Ltd, Results of Oil & Gas Operations Per boe Produced, USD /boe, Q1, 2017-Q1, 2018 10

Table 5: CNOOC Ltd, Results of Oil & Gas Operations Per boe Growth Rates, %, Q1, 2017-Q1, 2018 11

Table 6: CNOOC Ltd, Upstream Capital Expenditure, Q1, 2017-Q1, 2018 12

Table 7: CNOOC Ltd, Total Crude Oil and Natural Gas, Production, Q1, 2017-Q1, 2018 13

Table 8: CNOOC Ltd, Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2017-Q1, 2018 15

Table 9: CNOOC Ltd, Total Crude Oil Production, mmbbl, Q1, 2017-Q1, 2018 16

Table 10: CNOOC Ltd, Crude Oil Production, By Country/Region, mmbbl, Q1, 2017-Q1, 2018 17

Table 11: CNOOC Ltd, Total Natural Gas Production, bcf, Q1, 2017-Q1, 2018 18

Table 12: CNOOC Ltd, Natural Gas Production, By Country/Region, bcf, Q1, 2017-Q1, 2018 19

Table 13: CNOOC Ltd, Share Price Performance, 2013-2017 21

Table 14: CNOOC Ltd, Key Valuation Metrics, 2013-2017 22

Table 15: CNOOC Ltd, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2013-2017 23

Table 16: CNOOC Ltd, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2013-2017 26

Table 17: CNOOC Ltd, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2013-2017 28

Table 18: CNOOC Ltd, Crude Oil Production and Reserves Metrics, mmbbl, 2013-2017 29

Table 19: CNOOC Ltd, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2013-2017 31

Table 20: CNOOC Ltd, Crude Oil Reserve Changes, mmbbl, 2013-2017 33

Table 21: CNOOC Ltd, Natural Gas Production and Reserves Metrics, bcf, 2013-2017 35

Table 22: CNOOC Ltd, Natural Gas Production and Reserves, By Country/Region, bcf, 2013-2017 38

Table 23: CNOOC Ltd, Natural Gas Reserve Changes, bcf, 2013-2017 39

Table 24: CNOOC Ltd, Oil and Gas Reserves Life Index, Years, 2013-2017 40

Table 25: CNOOC Ltd, Oil and Gas Reserves Life Index, By Country/Region, Years, 2013-2017 43

Table 26: CNOOC Ltd, Upstream Capital Expenditure, USD mil, 2013-2017 46

Table 28: CNOOC Ltd, Exploration and Development Costs, By Country/Region, USD mil, 2013-2017 48

Table 29: CNOOC Ltd, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, USD /boe, 2013-2017 49

Table 30: CNOOC Ltd, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, USD /boe, By Country/Region, 2013-2017 53

Table 31: CNOOC Ltd, Oil and Gas Production Replacement Ratio, %, 2013-2017 56

Table 32: CNOOC Ltd, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2013-2017 62

Table 33: CNOOC Ltd, Revenue and Expenses, USD mil, 2013-2017 65

Table 34: CNOOC Ltd, Revenue and Expenses, By Country/Region, USD mil, 2013-2017 71

Table 35: CNOOC Ltd, Oil and Gas Revenue and Expenses, USD /boe, 2013-2017 76

Table 36: CNOOC Ltd, Oil and Gas Revenue and Expenses, USD /boe, By Country/Region, 2013-2017 81

Table 37: CNOOC Ltd, Oil and Gas Performance Metrics, 2013-2017 84

Table 38: CNOOC Ltd, Land Holdings (Developed and Undeveloped Acreage), Acres, 2013-2017 86

Table 39: CNOOC Ltd, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2013-2017 89

Table 40: CNOOC Ltd, Producible Oil and Gas Wells, 2013-2017 92

Table 41: CNOOC Ltd, Producible Oil and Gas Wells, By Country/Region, 2013-2017 97

Table 42: CNOOC Ltd, Exploratory and Developed Wells, 2013-2017 100

Table 43: CNOOC Ltd, Exploratory and Developed Wells, By Country/Region, 2013-2017 102

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Reserves, Production, Acquisition Costs, Development Costs, Exploration Costs, Total Costs Incurred, Acreage, Well, Price, Oil Reserves, Gas Reserves, Total Oil & Gas Reserves, Oil Production, Gas Production, Total Oil & Gas Production, F&D Costs Per boe, Reserve Replacement Ratio