Shandong Xinchao Energy Corporation Limited.
Summary
Revenue :
000,000 M USD
Finance :
000,000 M USD
Earning Cap :
000,000 M USD
Invest :
000,000 M USD
R & D :
0000 People
Growth :
00% AGR
DIGDAL CAP
Overview
| General Introduction | Shandong Xinchao Energy Co., Ltd. was established in 1985 and is an energy enterprise with the exploration, extraction, and sales of oil and natural gas as its core business. The company is headquartered in Beijing. In November 1996, with the approval of the China Securities Regulatory Commission, the company's 14 million social public shares were officially listed and traded on the Shanghai Stock Exchange. The securities are abbreviated as "Xinchao Energy" and the stock code is "600777". After more than thirty years of growth and multiple business transformations, New Wave Energy has developed into an international energy enterprise headquartered in China and with a business foothold in North America. In 2014, New Wave Energy launched a new development strategy, positioning the company's future development mainly in the exploration, extraction, and sales of overseas oil and natural gas. We have successively acquired the Hoople oilfield (conventional oilfield), Howard oilfield, and Borden oilfield (shale reservoir) in Texas, USA. Both oilfield assets are located in the core area of the Permian Basin, which has the highest quality shale oil and gas resources, the lowest production costs, and the strongest shale oil production growth in the United States. As of the end of 2018, the 1P reserves of oilfield assets (confirmed exploitable reserves) were 271 million barrels. After four years of exploration and practice, Xinchao Energy has completed business transformation and traditional asset divestment, becoming an oil and gas company with high-quality resources, rich reserves, advanced technology, and efficient operation. It is a model for A-share private listed companies to successfully achieve business transformation and international operation. In 2018, the annual oil and gas production and sales reached nearly 15 million barrels of equivalent, with a daily peak production exceeding 70000 barrels of equivalent per day. The annual average barrel oil production cost (LOE) showed a decreasing trend year by year, achieving zero operation and safety accidents for three years of production. Xinchao Energy always adheres to the development concept of "innovation, coordination, green, openness, and sharing", and adheres to the development concept of "internationalization, specialization, and marketization"; Adhere to the selection standards of "morality, knowledge, talent, and learning", and build a management team centered on professional talents; Create a harmonious and win-win situation between energy, environment, and commerce, achieve scale, efficiency, and sustainable development, and contribute to a better life for humanity. In the future, trendy energy will continue to deeply cultivate its main business, focus on management, scientific planning, key layout, strengthen management, strictly control risks, actively fulfill social responsibilities, and strive to create better performance to maximize returns to shareholders, employees, and society. |
| Headquarter | Yantai |
| Establish Date | 6/6/1996 |
| Listed Code | 600777.SH |
| Listed Date | 11/21/1996 |
| Chairman | Liu Bin. |
| CEO | Liu Bin. |
| Website | www.xinchaoenergy.com |
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