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china oilfield services-a (601808) Details

China Oilfield Services Limited, together with its subsidiaries, provides offshore oilfield services in Mainland China, Indonesia, Australia, Mexico, Norway, and various countries in the Middle-East. The company operates through four segments: Drilling Services, Well Services, Marine Support and Transportation Services, and Geophysical and Surveying Services. The Drilling Services segment provides drilling, module rigs, land drilling rigs, and drilling rigs management services. As of December 31, 2014, it operated and managed a total of 44 drilling rigs, including 33 jackup drilling rigs and 11 semi-submersible drilling rigs; 2 accommodation rigs; and 5 module rigs. The Well Services segment offers onshore and offshore well services, including logging, drilling and completion fluids, directional drilling, cementing, well completion, workover, and oilfield production optimization for oil and gas companies. The Marine Support and Transportation Services segment operates offshore utility vessels that provide services for offshore oil and gas fields exploration, development, and production; and for supplies, cargoes, and crew transportation and standby services at sea. This segment also offers moving and positioning services for drilling rigs; and towing and anchoring services for offshore vessels, as well as operates oil tankers for transporting crude oil, refined oil, and gas product. It owned 72 utility vessels and 3 oil tankers. The Geophysical and Surveying Services segment provides offshore seismic acquisition, offshore geo-surveying, seismic data processing and interpretation, and underwater engineering services. It owns 7 seismic vessels, 2 undersea cable teams, and 6 integrated marine surveying vessels. China Oilfield Services Limited also sells logging equipment, and issues bonds. The company is based in Beijing, China. China Oilfield Services Limited operates a subsidiary of China National Offshore Oil Corporation.

16,096 Employees
Last Reported Date: 03/30/15

china oilfield services-a (601808) Top Compensated Officers

Chief Executive Officer, President, Executive...
Total Annual Compensation: CNY736.0K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: CNY673.0K
Compensation as of Fiscal Year 2014.

china oilfield services-a (601808) Key Developments

China Oilfield Services Limited Announces Change of Company Secretary

The Board of Directors of China Oilfield Services Limited announced Mr. Yang Haijiang resigned as the company secretary and authorized representative of the company due to job change with effect from August 28, 2015. Mr. Yang has confirmed that he has no disagreement with the board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the company. The board also announced that Mr. Wang Baojun the General Counsel of the company and the General Manager of the Legal Department of the company has been appointed as company secretary and authorised representative of the company with effect from August 28, 2015. Prior to joining the company, Mr. Wang practiced law initially as an in-house counsel and subsequently with law firms in Beijing. Mr. Wang joined the company in 2007 and worked as a Legal Counsel of the Legal Department from August 2007 to June 2009, the Manager of Merger, Acquisition & Overseas Affairs of the Legal Department from July 2009 to October 2011, the General Manager of the Legal Department from November 2011 to April 2015, and is the General Counsel of the Company & General Manager of Legal Department from May 2015. Mr. Wang has also acted as the Chairman of the board of COSL Holding AS, since June 2013.

China Oilfield Services Ltd. Announces Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2015

China Oilfield Services Ltd. announced unaudited consolidated earnings results for the six months ended June 30, 2015. For the six months, the company reported revenue of RMB 12,089,396,000 compared to RMB 15,927,665,000 a year ago. Profit from operations was RMB 1,260,875,000 compared to RMB 5,029,137,000 a year ago. Profit before tax was RMB 1,186,435,000 compared to RMB 5,066,044,000 a year ago. Profit was RMB 921,925,000 compared to RMB 4,438,990,000 a year ago. Profit attributable to owners of the company was RMB 894,748,000 or 18.75 cents per basic share compared to RMB 4,424,022,000 or 93.13 cents per basic share a year ago. Net cash inflows from operating activities were RMB 1,461.6 million, representing a decrease of RMB 3,116.9 million or 68.1% as compared with the same period last year. This is mainly due to the declining demand in oilfield services market which resulted in cash generated from product sales and provision of duty decreased by RMB 3,032.5 million during the period. Capital expenditure was RMB 4,122.3 million, representing an increase of RMB 1,339.0 million or 48.1% as compared with RMB 2,783.3 million a year ago.

Primeline Energy Holdings, Inc. Enters into Turnkey Drilling Contract with China Oilfield Service Ltd

Primeline Energy Holdings Inc. announced that it has entered into a turnkey drilling contract with China Oilfield Service Ltd. (COSL) for its 2015 exploration programme of two wells in Block 33/07 in the East China Sea. Under the terms of the drilling contract, COSL has agreed to drill two wells for Primeline on a turnkey basis to the depth and target zone specified by Primeline. If hydrocarbons are discovered, COSL will also conduct tests for Primeline either on a turnkey basis or as a day rate operation as selected by Primeline. Primeline has decided to drill LS23-1-1 as the first well and, depending on the results, will then drill either location LS23-2-1 or LS30-3-1 as the second well. Primeline has the option to suspend operations after the first well if it is necessary to spend additional time carrying out any studies necessary before drilling the second well in order to ensure it is drilled in the optimal location.

 

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601808 Competitors

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Company Last Change
Atwood Oceanics Inc $18.92 USD +0.64
Diamond Offshore Drilling Inc $24.29 USD +1.26
Saipem SpA €8.38 EUR +0.335
SEACOR Holdings Inc $62.98 USD +1.30
Transocean Ltd SFr.13.27 CHF +1.50
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601808

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Valuation 601808 Industry Range
Price/Earnings 19.5x
Price/Sales 2.5x
Price/Book 1.7x
Price/Cash Flow 11.7x
TEV/Sales 0.3x
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