Mark A. DeWeaver, PhD, CFA

Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/175" target="_blank" data-smartkarma-citation="entities:175:1">CNOOC Ltd (883 HK)</a> released its 1H 2017 results on Friday (8/25). Revenue rose 38% y-y while net profit swung from a CNY 7.7 bn loss in 1H 2016 to a gain of CNY 16.3 bn. The improved profitability was driven primarily by a 33.8% jump in realized crude prices, which more than compensated for a 1.5% drop in oil and gas production.</p><p>There were also some notable improvements on the cost side. Exploration expense was down 22% thanks to the company’s continued focus on low-risk exploration. (To the…</p>

CNOOC Ltd (883 HK) released its 1H 2017 results on Friday (8/25). Revenue rose 38% y-y while net profit swung from a CNY 7.7 bn loss in 1H 2016 to a gain of CNY 16.3 bn. The improved profitability was driven primarily by a 33.8% jump in realized crude prices, which more than compensated for a 1.5% drop in oil and gas production.There were also some notable improvements on the cost side. Exploration expense was down 22% thanks to the company’s continued focus on low-risk exploration. (To the…

CNOOC Ltd

A Stronger Case for CNOOC