CNOOC Ltd Reports Q3-2011 Results

Dear PGM CAPITAL Blog readers,
Today, October 26 2011, CNOOC Ltd,  (NYSE: CEO, SEHK: 0883), reported its Q3-2011 financial results.


  • The total unaudited oil and gas sales revenues of the Company reached approximately RMB46.26 billion for the third quarter of 2011, representing a significant increase of 23.7% year over year.
  • During the period, the Company made two new discoveries and nine successful appraisal wells.
  • The Company’s average realized oil price rose 50.3% YOY to US$112.04 per barrel while the Company’s average realized gas price increased 20.0% YOY toUS$5.18 per thousand cubic feet.
Due to these results investors bid the stock up today in New York with US$ 8.32 (+4.64%) to US$ 187.62 a share



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