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

Summary

CNOOC Ltd Oil & Gas Exploration and Production Operations and Cost Analysis is the latest report from it, 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 companys oil and gas reserves and production information by country. It further consists of in-depth information on the companys 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 companys share price performance and key valuation metrics such as market capitalization, enterprise value, EV/Production ($boe/d) and EV/Proved Reserve ($/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 industrys players based on key operational and financial measures.


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, US$/boe 49
Oil and Gas Cost Per boe, US$/boe, 2013-2017 49
Oil and Gas Cost Per boe, US$/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 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, US$/boe, Q1, 2017-Q1, 2018 10
Table 5: CNOOC Ltd, Results of Oil & Gas Operations Per boe Growth Rates, %, Q1, 2017-Q1, 2018 11
Table 6: CNOOC Ltd, Upstream Capital Expenditure, Q1, 2017-Q1, 2018 12
Table 7: CNOOC Ltd, Total Crude Oil and Natural Gas, Production, Q1, 2017-Q1, 2018 13
Table 8: CNOOC Ltd, Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2017-Q1, 2018 15
Table 9: CNOOC Ltd, Total Crude Oil Production, mmbbl, Q1, 2017-Q1, 2018 16
Table 10: CNOOC Ltd, Crude Oil Production, By Country/Region, mmbbl, Q1, 2017-Q1, 2018 17
Table 11: CNOOC Ltd, Total Natural Gas Production, bcf, Q1, 2017-Q1, 2018 18
Table 12: CNOOC Ltd, Natural Gas Production, By Country/Region, bcf, Q1, 2017-Q1, 2018 19
Table 13: CNOOC Ltd, Share Price Performance, 2013-2017 21
Table 14: CNOOC Ltd, Key Valuation Metrics, 2013-2017 22
Table 15: CNOOC Ltd, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2013-2017 23
Table 16: CNOOC Ltd, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2013-2017 26
Table 17: CNOOC Ltd, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2013-2017 28
Table 18: CNOOC Ltd, Crude Oil Production and Reserves Metrics, mmbbl, 2013-2017 29
Table 19: CNOOC Ltd, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2013-2017 31
Table 20: CNOOC Ltd, Crude Oil Reserve Changes, mmbbl, 2013-2017 33
Table 21: CNOOC Ltd, Natural Gas Production and Reserves Metrics, bcf, 2013-2017 35
Table 22: CNOOC Ltd, Natural Gas Production and Reserves, By Country/Region, bcf, 2013-2017 38
Table 23: CNOOC Ltd, Natural Gas Reserve Changes, bcf, 2013-2017 39
Table 24: CNOOC Ltd, Oil and Gas Reserves Life Index, Years, 2013-2017 40
Table 25: CNOOC Ltd, Oil and Gas Reserves Life Index, By Country/Region, Years, 2013-2017 43
Table 26: CNOOC Ltd, Upstream Capital Expenditure, US$ mil, 2013-2017 46
Table 28: CNOOC Ltd, Exploration and Development Costs, By Country/Region, US$ mil, 2013-2017 48
Table 29: CNOOC Ltd, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2013-2017 49
Table 30: CNOOC Ltd, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/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, US$ mil, 2013-2017 65
Table 34: CNOOC Ltd, Revenue and Expenses, By Country/Region, US$ mil, 2013-2017 71
Table 35: CNOOC Ltd, Oil and Gas Revenue and Expenses, US$/boe, 2013-2017 76
Table 36: CNOOC Ltd, Oil and Gas Revenue and Expenses, US$/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

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 ($/boed), EV/Proved Reserve ($/boe), Q1, 2017-Q1, 2018 9
Figure 3: CNOOC Ltd, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2017-Q1, 2018 10
Figure 4: CNOOC Ltd, Upstream Capital Expenditure, US$ 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 ($/boed), EV/Proved Reserve (US$/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, US$ mil, 2013-2017 45
Figure 32: CNOOC Ltd, Development Costs, By Country/Region, US$ mil, 2013-2017 47
Figure 33: CNOOC Ltd, Exploration Costs, By Country/Region, US$ 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, US$/boe, 2013-2017 49
Figure 35: CNOOC Ltd, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, $/boe, 2013-2017 51
Figure 36: CNOOC Ltd, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, $/Boe, 2013-2017 51
Figure 37: CNOOC Ltd, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, $/boe, 2013-2017 52
Figure 38: CNOOC Ltd, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2013-2017 55
Figure 39: CNOOC Ltd, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2013-2017 58
Figure 40: CNOOC Ltd, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2013-2017 58
Figure 41: CNOOC Ltd, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2013-2017 59
Figure 42: CNOOC Ltd, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2013-2017 60
Figure 43: CNOOC Ltd, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2013-2017 60
Figure 44: CNOOC Ltd, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2013-2017 61
Figure 45: CNOOC Ltd, Revenue and Expenses, US$ mil, 2013-2017 65
Figure 47: CNOOC Ltd, Exploration Expenses, By Country/Region, US$ mil, 2013-2017 67
Figure 48: CNOOC Ltd, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2013-2017 67
Figure 49: CNOOC Ltd, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2013-2017 68
Figure 50: CNOOC Ltd, Oil & Gas Revenue, By Country/Region, US$ mil, 2013-2017 69
Figure 51: CNOOC Ltd, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2013-2017 69
Figure 52: CNOOC Ltd, Production Costs, By Country/Region, US$ mil, 2013-2017 70
Figure 53: CNOOC Ltd, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2013-2017 71
Figure 54: CNOOC Ltd, Oil and Gas Revenue and Expenses, US$/boe, 2013-2017 75
Figure 55: CNOOC Ltd, Exploration Expenses per boe, By Country/Region, $/boe, 2013-2017 77
Figure 56: CNOOC Ltd, Income Tax/(Benefit) per boe, By Country/Region, $/boe, 2013-2017 78
Figure 57: CNOOC Ltd, Lifting Cost per boe, By Country/Region, $/boe, 2013-2017 78
Figure 58: CNOOC Ltd, Annual Net Income per boe, By Country/Region, $/boe, 2013-2017 79
Figure 59: CNOOC Ltd, Oil & Gas Revenue per boe, By Country/Region, $/boe, 2013-2017 80
Figure 60: CNOOC Ltd, Total DD&A per boe, By Country/Region, $/boe, 2013-2017 80
Figure 61: CNOOC Ltd, Total Revenue per boe, By Country/Region, $/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

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