Each one in plain English, with the numbers worked through for a shareholder.
30 Sept 2021drilling result▲ Good
CNOOC announced a large discovery, the Kenli 10-2 oilfield in the Laizhou Bay Sag of southern Bohai Bay, with heavy oil. Well Kenli 10-2-4 found about 27 meters of oil pay and tested at about 569 barrels of oil per day. The exploration head describes it as a lithological oilfield with reserves of 100 million tons; no development plans are given. The filing's risk warning also lists the company and its controlling shareholder being on a U.S. sanctions list of companies with alleged ties to the Chinese military.
CNOOC announced a large oil and gas discovery, Bozhong 13-2, in Bohai Bay. Well BZ13-2-2 reached 5,223 meters, found about 346 meters of oil pay and tested at about 1,980 barrels of crude oil and 5.25 million cubic feet of gas per day. The company says it follows the Bozhong 19-6 condensate gas field and is a breakthrough in another type of buried hill in Bohai; the filing gives no reserve volumes or development plans.
CNOOC announced a significant discovery, Huizhou 26-6, in the Eastern South China Sea. It expects it to be the first mid-to-large condensate oil and gas field in the shallow-water Pearl River Mouth Basin. Well HZ26-6-1 found about 422.2 meters of pay zones and tested at around 2,020 barrels of oil and 15.36 million cubic feet of gas per day. It is a new exploration area for the company, outside its Bohai finds.
CNOOC announced a large-sized oil discovery, Kenli 6-1, in Bohai Bay, which it expects to be the first large oil field in the Laibei lower uplift. Well KL6-1-3 found about 20 meters of oil pay and tested at around 1,178 barrels of oil per day. It continues the company's long-running Bohai exploration, which dates back to the 2008 Ken Li finds.
CNOOC Ltd. announced another Bohai Bay discovery, Bozhong 35-2, where well BZ35-2-2 found 31.2 meters of oil pay and tested at an average of 560 barrels of oil and about 32,000 cubic feet of gas per day. The company holds 100% of the discovery, and it follows the earlier 2008 Bohai finds such as KL 10-1 and KL 3-2.
CNOOC Ltd. announced a new oil and gas discovery, Bozhong 29-5, in the Yellow River Mouth Sag of Bohai Bay. The well found 26.2 meters of oil pay and tested at about 1,500 barrels of oil and 220,000 cubic feet of gas per day. The company says it has made 6 discoveries in this sag since 2006 and that, being near the BZ 34, BZ 28-2S and BZ 29-4 fields, it is expected to be developed more efficiently.
CNOOC Ltd. said its wildcat well Ken Li 10-1-1 in Bohai Bay, drilled independently, found 56.8 meters of oil pay zones and flowed about 980 barrels of oil and 100,000 cubic feet of gas per day in a test. This is an exploration discovery; the filing gives no reserve volumes or development plans.
