Skip to main content 2007 EARNINGS CALL – CNOOC Limited Investor Presentation | Shale Experts
Loading...
Pm

2007 EARNINGS CALL – CNOOC Limited

CNOOC Limited · Mar 27, 2008 · 23 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 2007 EARNINGS CALL – CNOOC Limited – slide 1
    CNOOC LIMITED 2007 Annual Results 27 March, 2008
  2. 2007 EARNINGS CALL – CNOOC Limited – slide 2
    Agenda 2007 Achievements Financial Performance 2008 Outlook 3
  3. 2007 EARNINGS CALL – CNOOC Limited – slide 3
    2007 Achievements
  4. 2007 EARNINGS CALL – CNOOC Limited – slide 4
    2007 Highlights Unexpected production growth Total net production 171 mm BOE, an increase of 2.6% YoY Performance of existing fields better than expected Successful exploration program Reserve replacement ratio hits 142% 12 new…
  5. 2007 EARNINGS CALL – CNOOC Limited – slide 5
    Summary Results Oil & gas sales increased 7.7% YoY due to: Average realized oil and gas prices increased 12.5% and 8.7%, respectively Net production increased 2.6%, gas production increased 14.0 % YoY Net profit slightly increased…
  6. 2007 EARNINGS CALL – CNOOC Limited – slide 6
    2007 Production Exceeded Expectations Million BOE 195-199 200 180 162-170 172 171 160 23 22 22-26 140 120 100 80 140-144 149 60 149 40 20 0 2007 Budget 2007Actual* 2007Actual 2008 Budget (WTI US62.8/bbl) (WTI…
  7. 2007 EARNINGS CALL – CNOOC Limited – slide 7
    Offshore China Exploration Success JZ25-1 2007 Exploration Summary Offshore China Beijing 0 100 200 300 km JX1-1 Tianjin KL20-1 Korea Bohai Bay Independent PSC KL20-1 JZ25-1 Discoveries BZ28-2E LD4-2 BZ26-3 Bohai Bay 3 1…
  8. 2007 EARNINGS CALL – CNOOC Limited – slide 8
    Major Discoveries in 2007 Jinzhou25-1 Bozhong 26-3 Weizhou 11-7 Weizhou 11-2 4 of the12 discoveries in 2007 are expected to be developed into middle-size oilfields 9
  9. 2007 EARNINGS CALL – CNOOC Limited – slide 9
    Reserves Growth Continued (mm BOE) RRR:142% +2.9% 214 171 2601 2529 30 2006 Reserve Production Revision Discovery 2007 Reserve Note: Reserves and production include our interest in an unconsolidated investee 10
  10. 2007 EARNINGS CALL – CNOOC Limited – slide 10
    Capital Expenditure Capital Expenditure (US MM) 3,515 4,000 3,279 3,500 12 16 3,000 2,500 2,000 2837 2847 1,500 1,000 500 416 666 0 2006Actual 2007Actual Exploration Development Others Exploration Capex of US 666…
  11. 2007 EARNINGS CALL – CNOOC Limited – slide 11
    Strong HSE Records Health, safety, and environment protection are always the top priorities of CNOOC Limited In 2007, CNOOC Limiteds HSE performance : No major oil spills OSHA statistics keep improving 2007 2006 Rate of…
  12. 2007 EARNINGS CALL – CNOOC Limited – slide 12
    SZ36-1 Partly Powered by Wind Location: 70 km offshore, Suizhong 36-1 field, Bohai Bay Commencement: November 8, 2007 Partly powered by wind, the first in the world Reduce CO2 emission 3,500 tons per year 13
  13. 2007 EARNINGS CALL – CNOOC Limited – slide 13
    Financial Performance
  14. 2007 EARNINGS CALL – CNOOC Limited – slide 14
    2007 vs. 2006 Net Income Analysis RMB mm 38,000 +0.8% -9.2% +16.0% 261 2,856 +3.7% -3.4% -5.6% +5.0% 1040 1,144 4,948 -2.8% 33,000 869 -2.6% +1.4% -1.3% 1727 1,548 -2.4% 441 397 361 672 +1.07% 30,927 31,258…
  15. 2007 EARNINGS CALL – CNOOC Limited – slide 15
    Balance Sheet Movement (RMB bn) Dec. 29, 2006 Dec. 31, 2007 +29.7% 30.6 Cash and Cash 24.1 Equivalent 23.6 Non-current assets increased RMB17.8 Other current 24.3 billion, mainly due to exploration and Assets development CAPEX…
  16. 2007 EARNINGS CALL – CNOOC Limited – slide 16
    Change in Cash Position 2007 2006 mm RMB Cash flow from operating activities 42,713 39,226 Cash flow from investing activities (22,939) (39,526) Cash flow from financing activities (10,646) 6,039 Net Cash Flow 9,128 5,739 Cash…
  17. 2007 EARNINGS CALL – CNOOC Limited – slide 17
    All-in Costs Breakdown (US / BOE) 20 16.37 16 14.59 2.70 2.51 1.34 12 1.17 0.43 0.36 5.69 8 5.25 4 5.30 6.20 0 2006 2007 Operating Cost DD&A Dismantlement SG&A Production Tax All-in costs was 12.2% higher YoY,…
  18. 2007 EARNINGS CALL – CNOOC Limited – slide 18
    All-in Cost Leading Peers 2007 All-in cost (US/BOE) 40 34.06 28.15 30 24.82 24.14 19.28 20 16.37 16.35 10 0 APC TLM APA DVN XTO CNOOC CNQ 2007 All-in cost Growth % 39.22% 40% 27.25% 30% 20% 13.55% 13.35% 12.20%…
  19. 2007 EARNINGS CALL – CNOOC Limited – slide 19
    ROE/ROCE Benchmarking 2007 ROE 30% 27.2% 26.4% 25.8% 25.7% 25.4% 24.5% 25% 20.7% 19.8% 20% 18.2% 17.3% 16.7% 15% 10% Talisman Anadarko CNOOC Occidental Woodside XTO Encana Apache Dev on EOG Murphy 2007 ROCE 25% 22% 21%…
  20. 2007 EARNINGS CALL – CNOOC Limited – slide 20
    Dividend Recommendation The board has proposed a year-end normal dividend of HK0.17 per share: Maintain dividend per share stable and growth, and consistent with the companys dividend policy 39.2%(1) payout of net profit 2.34% (2)…
  21. 2007 EARNINGS CALL – CNOOC Limited – slide 21
    2008 Outlook
  22. 2007 EARNINGS CALL – CNOOC Limited – slide 22
    Sustainable, Stable and Profitable Growth Reserves Continue to add reserves through exploration and acquisitions RRR: 100% 10 development projects scheduled to come Development on stream in 2008 Production Production target…
  23. 2007 EARNINGS CALL – CNOOC Limited – slide 23
    WWW.CNOOCLTD.COM

From the store

Browse maps, data & reports in the Shale Experts store