CNOOC (CEO) Long-Term Capital Lease Obligation : $1,035 Mil (As of Mar. 2024)

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What is CNOOC Long-Term Capital Lease Obligation?

CNOOC's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was $1,035 Mil.

CNOOC's quarterly Long-Term Capital Lease Obligation increased from Sep. 2023 ($912 Mil) to Dec. 2023 ($1,101 Mil) but then declined from Dec. 2023 ($1,101 Mil) to Mar. 2024 ($1,035 Mil).

CNOOC's annual Long-Term Capital Lease Obligation increased from Dec. 2021 ($897 Mil) to Dec. 2022 ($941 Mil) and increased from Dec. 2022 ($941 Mil) to Dec. 2023 ($1,101 Mil).

CNOOC Long-Term Capital Lease Obligation Historical Data

The historical data trend for CNOOC's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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CNOOC Long-Term Capital Lease Obligation Chart

CNOOC Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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1,006.89

920.89

896.80

941.09

1,100.53

CNOOC Quarterly Data
	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															904.53	939.06	912.04	1,100.53	1,035.34

CNOOC (NYSE:CEO) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

CNOOC Long-Term Capital Lease Obligation Related Terms

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CNOOC (CEO) Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » CNOOC Ltd (NYSE:CEO) » Definitions » Long-Term Capital Lease Obligation

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00883:Hong Kong NC2B:Germany 600938:China

Address

1 Garden Road, 65th Floor, Bank of China Tower, Hong Kong, HKG, 999077

Website

https://www.cnoocltd.com

CNOOC is China's main offshore oil and gas exploration and production company. Through its parent company, it has exclusive rights to partner with foreign companies in offshore China projects. Production for 2022 averaged 1.71 million barrels of oil equivalent per day (78.5% oil), and year-end proven reserves were 6.24 billion barrels of oil equivalent, or boe, (73.8% oil). Assets outside China make up around 30.6% of production.