Production Start, Investment Recovery and Earnings Contribution from Ongoing Projects
First written in FY2016. 9 of 15 entries say "Advanced", first in FY2017. Latest entry: FY2022-Q1.
Japan Petroleum Exploration moved to the "Worse" side of this theme in 2021.
0 other companies' latest entry also says "Dropped".
- FY2022-Q1DroppedAnnual report
「In connection with this matter, we plan to record an extraordinary loss of approximately ¥90 billion on the sale of subsidiary shares relating to CANOS's holding in JACOS in the consolidated financial results for the second quarter of the fiscal year ending March 2022.」
The decision was made to transfer the JACOS shares and terminate the business, moving away from the premise of continuing production, investment recovery and earnings contribution from projects in progress. The planned recognition of the loss on sale was also disclosed. - FY2021-Q3WorsenedAnnual report
「North America segment revenue decreased by ¥21,191 million year on year to ¥17,001 million, a decline of 55.5%, primarily due to lower diluted bitumen sales prices at the JACOS Hangingstone field. The segment recorded a loss of ¥8,046 million, compared with a segment profit of ¥3,792 million in the same period of the previous year, due mainly to weaker diluted bitumen sales margins resulting from lower oil prices and a wider heavy-light differential.」
In the North America business, including the Hangingstone field, lower diluted bitumen sales prices, lower oil prices and the wider heavy-light differential reduced revenue 55.5% year on year and drove the business from a profit in the same period of the previous year to a ¥8,046 million loss. - FY2021-Q2WorsenedAnnual report
「North America segment revenue decreased by ¥15,377 million year on year to ¥9,740 million, a decline of 61.2%, primarily due to lower diluted bitumen sales prices at the JACOS Hangingstone field. The segment recorded a loss of ¥7,492 million, compared with a segment profit of ¥2,788 million in the same period of the previous year, due mainly to weaker diluted bitumen sales margins resulting from lower oil prices and a wider heavy-light differential.」
Lower diluted bitumen sales prices at Hangingstone, lower oil prices and the wider heavy-light differential drove the North America segment from a profit in the same period of the previous year to a ¥7,492 million loss. - FY2021-Q1WorsenedAnnual report
「North America segment revenue decreased by ¥4,408 million year on year to ¥7,306 million, a decline of 37.6%, primarily due to lower diluted bitumen sales prices at the JACOS Hangingstone field. The segment recorded a loss of ¥4,223 million, compared with a segment profit of ¥1,311 million in the same period of the previous year, due mainly to weaker diluted bitumen sales margins resulting from lower oil prices and a wider heavy-light differential.」
Hangingstone production and sales continued, but lower diluted bitumen sales prices, lower oil prices and the wider heavy-light differential drove the North America segment from a profit in the same period of the previous year to a ¥4,223 million loss, worsening earnings contribution. - FY2020AdvancedAnnual report
「North America segment revenue increased by ¥14,433 million year on year to ¥48,703 million, an increase of 42.1%, primarily due to higher diluted bitumen sales volumes at the JACOS Hangingstone field. Segment profit was ¥3,422 million, compared with a segment loss of ¥9,751 million in the previous fiscal year, due mainly to improved sales margins for diluted bitumen resulting from a narrower heavy-light differential in the oil sands business.」
Higher Hangingstone sales volumes and improved sales margins drove the North America segment from a loss in the previous fiscal year to a ¥3,422 million profit, advancing earnings contribution. - FY2020-Q3AdvancedAnnual report
「Revenue in the North America segment mainly comprises crude oil and natural gas, including diluted bitumen. Revenue for the first 3 quarters increased by ¥8,635 million year on year to ¥38,193 million, an increase of 29.2%, primarily due to higher diluted bitumen sales volumes at the JACOS Hangingstone field. Segment profit was ¥3,792 million, compared with a segment loss of ¥5,605 million in the same period of the previous year, due mainly to improved sales margins for diluted bitumen resulting from a narrower heavy-light differential in the oil sands business.」
Higher diluted bitumen sales volumes at the Hangingstone field and improved sales margins from the narrower heavy-light differential lifted North America segment revenue 29.2% year on year to ¥38,193 million. Segment earnings also turned from a ¥5,605 million loss in the same period of the previous year to a ¥3,792 million profit, further advancing earnings contribution. - FY2020-Q2AdvancedAnnual report
「Revenue in the North America segment mainly comprises crude oil and natural gas, including diluted bitumen. Revenue for the first 2 quarters increased by ¥9,616 million year on year to ¥25,117 million, an increase of 62.0%, primarily due to higher diluted bitumen sales volumes at the JACOS Hangingstone field. Segment profit was ¥2,788 million, compared with a segment loss of ¥4,108 million in the same period of the previous year, due mainly to improved sales margins for diluted bitumen resulting from a narrower heavy-light differential in the oil sands business.」
Higher diluted bitumen sales volumes at the Hangingstone field lifted North America segment revenue 62.0% year on year to ¥25,117 million. Improved sales margins from the narrower heavy-light differential also drove the segment from a ¥4,108 million loss in the same period of the previous year to a ¥2,788 million profit. - FY2020-Q1AdvancedAnnual report
「Revenue in the North America segment mainly comprises crude oil and natural gas, including diluted bitumen. Revenue for the first quarter increased by ¥4,970 million year on year to ¥11,715 million, an increase of 73.7%, primarily due to higher bitumen sales volumes at the JACOS Hangingstone field. Segment profit was ¥1,311 million, compared with a segment loss of ¥3,264 million in the same period of the previous year, due mainly to improved sales margins for diluted bitumen resulting from a narrower heavy-light differential in the oil sands business, meaning the price difference between Canadian heavy crude and WTI light crude.」
Higher bitumen sales volumes at the Hangingstone field and improved sales margins from a narrower heavy-light differential drove the North America segment from a ¥3,264 million loss in the same period of the previous year to a ¥1,311 million profit, marking progress in earnings contribution. - FY2019AdvancedAnnual report
「In December 2012, we made the final investment decision on the expansion and development project in the field to further increase production and reserves. Construction of the central processing facility was completed in February 2017, and production began in August 2017. In June 2018, operations transitioned to stable production at approximately 20,000 barrels per day, and production operations have continued since then.」
After production began, the Hangingstone expansion project transitioned in June 2018 to stable production of approximately 20,000 barrels per day and advanced to the ongoing operations stage. - FY2019-Q3AdvancedAnnual report
「Revenue in the North America segment mainly comprises crude oil and natural gas, including diluted bitumen. Revenue for the first 3 quarters increased by ¥25,343 million year on year to ¥29,557 million, an increase of 601.5%, primarily due to sales of diluted bitumen. Despite the increase in revenue described above, the segment loss was ¥5,605 million, compared with a segment loss of ¥5,146 million in the same period of the previous year, due mainly to higher cost of sales, selling, general and administrative expenses.」
North America segment revenue from diluted bitumen sales at the Hangingstone field rose 601.5% year on year to ¥29,557 million. While earnings contribution from sales expanded, the segment recorded a loss of ¥5,605 million. - FY2019-Q1AdvancedAnnual report
「Revenue in the North America segment mainly comprises crude oil and natural gas, including diluted bitumen. Revenue for the first quarter of the fiscal year increased by ¥5,152 million year on year to ¥6,744 million, primarily due to bitumen sales from the JACOS Hangingstone field, where full-scale production operations began in August 2017, an increase of 323.7%. Despite the increase in revenue described above, the segment loss was ¥3,264 million, compared with a segment loss of ¥1,001 million in the same period of the previous year, due mainly to higher cost of sales, selling, general and administrative expenses.」
After full-scale production began at the Hangingstone field, North America segment revenue from bitumen sales rose 323.7% year on year to ¥6,744 million. While monetization through production and sales progressed, the segment recorded a loss of ¥3,264 million. - FY2018-Q3RestatedAnnual report
「Production operations at the oil sands expansion and development project in the Hangingstone field in Alberta, Canada, operated by Japan Canada Oil Sands Limited, including wells and production facilities scheduled for completion in mid-2017, began on 3 August 2017.」
The filing continues to state that the Hangingstone expansion project is in production and shows no new progress. - FY2018-Q1AdvancedAnnual report
「Production operations at the oil sands expansion and development project in the Hangingstone field in Alberta, Canada, operated by Japan Canada Oil Sands Limited, including wells and production facilities scheduled for completion in mid-2017, began on 3 August 2017.」
The Hangingstone expansion project advanced from the preparation stage to the production start-up stage. - FY2017AdvancedAnnual report
「Bringing these projects in progress on stream and ensuring investment recovery and earnings contribution after production start-up correspond to the second and third stages of the overseas shift in the E&P business set out in the previous medium-term plan, namely increasing production and reserves and establishing a reinvestment cycle. We position this as an important step toward a breakthrough in 2025 (Heisei 37).」
The stage of linking projects in progress to investment recovery and earnings contribution after production start-up and to a reinvestment cycle continues to be positioned as a specific milestone. - FY2016First statedAnnual report
「Bringing these projects in progress on stream and ensuring investment recovery and earnings contribution after production start-up correspond to the second and third stages of the overseas shift in the E&P business set out in the previous medium-term plan, namely increasing production and reserves and establishing a reinvestment cycle. We position this as an important step toward a breakthrough in 2025 (Heisei 37).」
The overseas shift was organized as measures to move from increasing production and reserves to investment recovery and a reinvestment cycle.