U.S. Markets close in 5 hrs 47 mins

Wired News - CNOOC Signed PSCs with Husky Oil Operations (China) in South China Sea

Stock Monitor: Advantage Oil & Gas Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 22, 2018 / If you want access to our free research report on CNOOC Ltd (NYSE: CEO), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CEO as the Company's latest news hit the wire. On May 18, 2018, the Company announced that its parent company, China National Offshore Oil Corp. ("CNOOC"), has inked two production sharing contracts (PSCs) with Husky Oil Operations (China) Ltd ("Husky") for Block 22/11 and 23/07 in the South China Sea. Register today and get access to over 1,000 Free Research Reports by joining our site below:


Active-Investors.com is currently working on the research report for Advantage Oil & Gas Ltd (NYSE: AAV), which also belongs to the Basic Materials sector as the Company CNOOC. Do not miss out and become a member today for free to access this upcoming report at:


Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, CNOOC most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:


Terms of the PSCs

  • Husky will act as the operator during the exploration period and conduct exploration activities in the two blocks, in which all expenditures incurred will be borne by Husky.
  • Once entering the development phase, CNOOC has the right to participate in up to 51% of the participating interest in any commercial discoveries of the blocks.
  • After signing the above-mentioned PSCs, except for those relating to CNOOC's administrative functions, CNOOC will assign all of its rights and obligations under PSCs to CNOOC China Ltd, a subsidiary of CNOOC Ltd.

About Block 22/11 and 23/07

Block 22/11 and 23/07 are located in the Beibu Gulf of the South China Sea. The Block 22/11 covers a total area of 1,663 square kilometers with a water depth of 40-80 meters and the Block 23/07 covers a total area of 1,210 square kilometers with a water depth of 20-40 meters.

CNOOC Ltd's Key Operational Statistics for Q1 2018

On April 20, 2018, the Company announced its key operational statistics for the first quarter of 2018 (Q1 FY18). CNOOC achieved total net production of 120.1 million barrels of oil equivalent ("BOE") for Q1 FY18, representing an increase of 0.8% year-over-year (YoY). Production from offshore China decreased 1.2% YoY to 77.5 million BOE, mainly due to normal decline of the producing fields. Overseas production increased 4.7% YoY to 42.6 million BOE, mainly driven by production growth of Missan project in Iraq and an increase of interests held by Bridas in Pan American Energy.

During the period, the Company made six new discoveries and drilled 15 successful appraisal wells. In Eastern South China Sea, new discoveries of Enping 10-2 and Enping 15-2 were expected to be jointly developed with Enping 15-1 to become a mid-sized oilfield. Two other new discoveries, Ranger and Pacora, were made at the Stabroek block in Guyana, which represented the sixth and seventh oil discoveries at the block to date.

About Husky Oil Operations (China) Ltd

Husky has two core businesses, its Integrated Corridor operates in Western Canada and the United States, where thermal production is integrated with the Downstream business and supported by Western Canada operations.

Offshore the Company is focused in Asia/Pacific and Atlantic regions. The Company's business strategy is to focus on returns from investment in a deep portfolio of opportunities that can generate increased funds from operations (FFO) and free cash flow.

About CNOOC Ltd

Founded in 1999 and headquartered in Beijing, China, CNOOC Ltd is devoted to providing the society with higher quality energy products and marketing services in safe, efficient, and environmentally friendly manners.

Stock Performance Snapshot

May 21, 2018 - At Monday's closing bell, CNOOC's stock advanced 1.60%, ending the trading session at $184.85.

Volume traded for the day: 182.14 thousand shares, which was above the 3-month average volume of 153.73 thousand shares.

Stock performance in the last month – up 10.14%; previous three-month period – up 27.30%; past twelve-month period – up 56.16%; and year-to-date - up 28.76%

After yesterday's close, CNOOC's market cap was at $80.86 billion.

Price to Earnings (P/E) ratio was at 21.29.

The stock has a dividend yield of 2.77%.

The stock is part of the Basic Materials sector, categorized under the Oil & Gas Drilling & Exploration industry. This sector was up 0.7% at the end of the session.


Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.


The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.


A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.


This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.


For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors