CNOOC (CEO) Reserve Replacement Ratio % : 0.00% (As of . 20)

View and export this data going back to 2001. Start your Free Trial

What is CNOOC Reserve Replacement Ratio %?

Reserve Replacement Ratio % (RRR) is a metric used by investors to judge an oil company's operating performance. It is the amount of oil added to a company's reserves divided by the amount extracted for production.

CNOOC's Reserve Replacement Ratio % for the annual that ended in Dec. 2023 was 180.00% , which is lower than 182.00% for the pervious year ended in Dec. 2022.

The historical rank and industry rank for CNOOC's Reserve Replacement Ratio % or its related term are showing as below:

CEO's Reserve Replacement Ratio % is not ranked ^*
in the Oil & Gas industry.
Industry Median:
* Ranked among companies with meaningful Reserve Replacement Ratio % only.

CNOOC Reserve Replacement Ratio % Historical Data

The historical data trend for CNOOC's Reserve Replacement Ratio % 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.

* Premium members only.

CNOOC Reserve Replacement Ratio % Chart

CNOOC Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Reserve Replacement Ratio %

Get a 7-Day Free Trial

Competitive Comparison of CNOOC's Reserve Replacement Ratio %

For the Oil & Gas E&P subindustry, CNOOC's Reserve Replacement Ratio %, along with its competitors' market caps and Reserve Replacement Ratio % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

CNOOC (NYSE:CEO) Reserve Replacement Ratio % Explanation

Reserve Replacement Ratio % is a metric used by investors to judge an oil company's operating performance. It measures the amount of proved reserves added to a company's reserve base during the year, relative to the amount of oil and gas that the company has produced.

According to conventional market wisdom, when demand is stable, a company's reserve-replacement ratio must be at least 100% for the company to sustain current production levels. Any figure greater than 100% likely indicates that the company has room for growth. Conversely, any number less than 100% telegraphs a cause for concern that the company may soon run out of oil.

This ratio can sometimes be affected by new technologies, changes to supply and demand dynamics and fluctuating oil prices. A high reserve-replacement ratio achieved through organic replacement is considered better than a high reserve-replacement ratio achieved through purchasing proved reserves.

CNOOC Reserve Replacement Ratio % Related Terms

Thank you for viewing the detailed overview of CNOOC's Reserve Replacement Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.

CNOOC (CEO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » CNOOC Ltd (NYSE:CEO) » Definitions » Reserve Replacement Ratio %

Comparable Companies

Traded in Other Exchanges

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.