Investment Summary

CNOOC Invests In Block 15/34

On June 18, 2010, CNOOC invested in oil/gas exploration company Block 15/34 from Devon Energy for 515M USD

Investment Highlights
  • This is CNOOC’s 3rd transaction in the Oil/Gas Exploration sector.
  • This is CNOOC’s 4th largest (disclosed) transaction.
  • This is CNOOC’s 1st transaction in China.

Investment Summary
Date 2010-06-18
Target Block 15/34
Sector Oil/Gas Exploration
Investor(s) CNOOC
Sellers(s) Devon Energy
Deal Type Stake Purchase
Deal Value 515M USD

Target

Block 15/34

China
Block 15/34 comprises oil exploration and production property. Currently gross production from the block is 49,000 barrels of oil per day.

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Investor(S) 1

Investor

CNOOC

Hong Kong, China
Category Company
Founded 1999
Sector Oil/Gas Exploration
Employees21,786
Revenue 432.2B CNY (2022)
DESCRIPTION

CNOOC is a producer of offshore crude oil and natural gas in China and one of the independent oil and gas exploration and production companies in the world. The Group mainly engages in exploration, development, production and sale of oil and natural gas. CNOOC was founded in 1999 and is based in Hong Kong, China.

DEAL STATS #
Overall 3 of 6
Sector (Oil/Gas Exploration) 3 of 6
Type (Stake Purchase) 2 of 3
Country (China) 1 of 1
Year (2010) 1 of 1
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-07-17 Marathon International Petroleum Angola Block 32

Cayman Islands

Marathon International Petroleum Angola Block 32 Ltd.with an acreage of 5,090 square kilometers, is an oil rich deepwater exploration block with 12 oil discoveries. The block is located about 150 kilometers off the coast in a water depth of 1400 to 2200 meters.

Buy $1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-28 OPTI Canada

Calgary, Alberta, Canada

OPTI Canada Inc. an oil sand operator, develops integrated bitumen and heavy oil projects in Canada.

Buy $2.1B

Seller(S) 1

SELLER

Devon Energy

Oklahoma City, Oklahoma, United States
Category Company
Founded 1971
Sector Oil/Gas Exploration
Employees1,800
Revenue 15.3B USD (2023)
DESCRIPTION

Devon Energy a U.S. based independent natural gas and oil producers. The company's operations are focused on North American onshore exploration and production. Devon Energy was founded in 1971 and is based in Oklahoma City.

DEAL STATS #
Overall 6 of 11
Sector (Oil/Gas Exploration) 5 of 10
Type (Stake Purchase) 1 of 1
Country (China) 2 of 2
Year (2010) 2 of 2
Size (of disclosed) 3 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-30 Devon Energy - Panyu Field

China

Devon Energy Corp. - Panyu Field is a provider of oil and gas exploration services.

Sell $515M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-19 Thunder Creek Gas Services

Gillette, Wyoming, United States

Thunder Creek Gas Services LLC is an operator of natural gas gathering, treating and processing assets in Wyoming’s Powder River Basin, including more than 500 miles of high- and low-pressure gas gathering pipelines, three natural gas treating facilities, compression and gas processing facilities, and various NGL and condensate handling facilities.

Sell -
Mergr

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