CNOOC (STU:NC2B) LT-Debt-to-Total-Asset : 0.06 (As of Sep. 2024)

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What is CNOOC LT-Debt-to-Total-Asset?

LT Debt to Total Assets is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. It is calculated as a company's Long-Term Debt & Capital Lease Obligationdivide by its Total Assets. CNOOC's long-term debt to total assests ratio for the quarter that ended in Sep. 2024 was 0.06.

CNOOC's long-term debt to total assets ratio declined from Sep. 2023 (0.09) to Sep. 2024 (0.06). It may suggest that CNOOC is progressively becoming less dependent on debt to grow their business.

CNOOC LT-Debt-to-Total-Asset Historical Data

The historical data trend for CNOOC's LT-Debt-to-Total-Asset can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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CNOOC LT-Debt-to-Total-Asset Chart

CNOOC Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

LT-Debt-to-Total-Asset

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0.19

0.18

0.15

0.12

0.10

CNOOC Quarterly Data
	Dec18	Jun19	Dec19	Jun20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
LT-Debt-to-Total-Asset	Get a 7-Day Free Trial															0.09	0.10	0.09	0.06	0.06

CNOOC LT-Debt-to-Total-Asset Calculation

CNOOC's Long-Term Debt to Total Asset Ratio for the fiscal year that ended in Dec. 2023 is calculated as

LT Debt to Total Assets (A: Dec. 2023 )	=	Long-Term Debt & Capital Lease Obligation (A: Dec. 2023 )	/	Total Assets (A: Dec. 2023 )
	=	12337.543	/	129146.714
	=	0.10

CNOOC's Long-Term Debt to Total Asset Ratio for the quarter that ended in Sep. 2024 is calculated as

LT Debt to Total Assets (Q: Sep. 2024 )	=	Long-Term Debt & Capital Lease Obligation (Q: Sep. 2024 )	/	Total Assets (Q: Sep. 2024 )
	=	8675.499	/	137440.7
	=	0.06

CNOOC (STU:NC2B) LT-Debt-to-Total-Asset Explanation

LT Debt to Total Asset is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. A year-over-year decrease in this metric would suggest the company is progressively becoming less dependent on debt to grow their business.

CNOOC LT-Debt-to-Total-Asset Related Terms

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CNOOC Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » CNOOC Ltd (STU:NC2B) » Definitions » LT-Debt-to-Total-Asset

Comparable Companies

Traded in Other Exchanges

00883:Hong Kong NC2B:Germany NC2B:Germany 600938:China

Address

1 Garden Road, 65th Floor, Bank of China Tower, Hong Kong, HKG, 999077

Website

https://www.cnoocltd.com

CNOOC is China's main offshore oil and gas exploration and production company. Through its parent company, it has exclusive rights to partner with foreign companies in offshore China projects. Net production for 2023 reached 678.0 million barrels of oil equivalent (78.1% oil), and year-end proven reserves were 6.78 billion barrels of oil equivalent. Assets outside China make up around 31.2% of production.

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