CNOOC Q3 Total Net Production Down

(RTTNews) - CNOOC Limited (CEO, CNU.TO) Wednesday said its total net production for the third quarter slid 7.7 percent to 117.7 million barrels of oil equivalent or BOE, mainly due lower production volume in oil and gas fields and weak demand in the domestic downstream gas market.

For the quarter, unaudited oil and gas sales revenue declined 15.2 percent to about RMB 30.75 billion. The Company's average realized oil price slid 13.5 percent to $42.26 per barrel, and the average realized gas price was down 18.6 percent to $5.22 per thousand cubic feet.

During the period, the Company's capital expenditure fell nearly 21 percent to about RMB 11.67 billion.