SPT Energy Group, Inc.
HHKEX:12510.20
HKD
+0.00
(-0.50%)
SPT Energy Group, Inc.
HKEX:1251
(Hong Kong Exchange)
Recent
price
0.20
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- SPT Energy Group Inc. SPT Energy Group Inc. (1251.HK), an investment holding company incorporated in the Cayman Islands and listed on the Hong Kong Stock Exchange, provides integrated oilfield services focused on the exploration and development of conventional and unconventional energy sources such as oil and natural gas, along with technical research and engineering services across the carbon capture, utilization, and storage industry chain. The company operates through Drilling, Well Completion, Reservoir, and Others segments, offering drilling rig and workover rig services; complex well workover, fishing, cementing, and drilling fluid services; rotary geosteering, vertical drilling, horizontal drilling, side tracking, underbalanced drilling, and fine managed pressure drilling technologies; well completion project design, tools, stimulation, and fracturing services; geology and oil reservoir research, dynamic monitoring, oil testing and recovery technologies, coiled tubing services, and repair of surface production devices; as well as trading activities, sales of natural gas and edible alcohol, and manufacturing and sales of oilfield services-related products. Founded in 1993 and headquartered in Beijing, China, it serves major customers including China National Petroleum Corporation and its affiliates, with geographic operations spanning the People's Republic of China, Kazakhstan, Turkmenistan, Canada, Indonesia, Singapore, the Middle East, and other international markets. In recent developments, a subsidiary entered into an Operation Cooperation Agreement with Pioneer Oil Indonesia for oil and gas exploration and development in the Jabung Tengah Block, involving a US$200 million investment and a 50:50 profit-sharing arrangement to accelerate activities. The company reported 2024 annual revenue of RMB1,694.1 million, down 13.0% from the prior year amid extreme weather impacts in Kazakhstan, customer cost reductions, and project delays in Indonesia, alongside impairments on property, plant, equipment, and right-of-use assets primarily in drilling, resulting in a net loss of RMB263.6 million. Further, it pursued asset optimization through finance lease agreements, including the sale and leaseback of equipment in Turkmenistan for RMB17.6 million and other leased assets for RMB14 million, while converting an overseas edible alcohol project subsidiary to a joint venture.