Group 1 - The National Petroleum and Natural Gas Index (399439) has shown a slight increase of 0.30% as of May 19, 2025, with notable gains in constituent stocks such as Huajin Co. (000059) up by 3.62% and Lansi Heavy Industry (603169) up by 2.22% [1] - The Oil and Gas ETF (159697) has risen by 0.52%, currently priced at 0.97 yuan, indicating a positive trend in the oil and gas sector [2] - Recent innovations in key technologies for oil and gas exploration and development have positioned shale gas as a significant area for sustainable resource development in China, with major shale gas demonstration zones established in the Sichuan Basin [2] Group 2 - The Sichuan Basin has identified eight shale gas fields with a total resource volume of 16.5 trillion cubic meters, contributing to national energy security through the localization of critical equipment and tools [2] - East China Securities anticipates a recovery in trade, which will positively impact oil demand, predicting that oil prices may bottom out in the second quarter and recover thereafter, benefiting upstream resource companies [2] - Guoxin Securities highlights the vast potential for deep-sea oil and gas development in China's northern and central southern South China Sea, supported by relevant technological policies [2][3] Group 3 - As of April 30, 2025, the top ten weighted stocks in the National Petroleum and Natural Gas Index account for 66.65% of the index, with major players including China National Petroleum (601857) and China Petroleum & Chemical (600028) [3]

Core Viewpoint - The record for the depth of shale gas wells in China has been broken, with significant implications for the industry and potential for increased gas production in the Sichuan Basin [1] Group 1: Company Developments - Sinopec's Zhongyuan Oilfield has successfully drilled the Tiebei 1 side HF well, achieving a daily output of 314,500 cubic meters of industrial gas flow [1] - The well has a vertical depth exceeding 5,300 meters and a horizontal section length of 1,312 meters, setting a new record for shale gas well depth in China [1] Group 2: Industry Implications - This achievement is expected to facilitate the establishment of a new large-scale reserve and production area in the Puguang region, enhancing the overall gas supply capacity [1]

Group 1 - The core achievement of China Petroleum & Chemical Corporation (Sinopec) is the successful drilling of the Tiebei 1HF well in the Sichuan Basin, which has set a new record for shale gas well depth in China at over 5300 meters and a horizontal section length of 1312 meters, yielding a daily production of 314,500 cubic meters of industrial gas [1] - The Puguang gas field, developed for 20 years, is China's first ultra-deep high-sulfur gas field, and Sinopec aims to enhance production efficiency by focusing on the resource-rich Permian system, which is primarily located at depths exceeding 4500 meters [1] - Sinopec has achieved a 100% success rate in encountering high-quality shale during horizontal drilling, which is crucial for the efficient exploration and development of the Puguang area [1] Group 2 - In 2017, Sinopec established China's first shale gas field with a production capacity of over 10 billion cubic meters, the Fuling shale gas field, and in 2020, it completed the first phase of the Weirong shale gas field project, which has proven reserves exceeding 100 billion cubic meters [2] - According to the National Energy Administration, domestic shale gas production exceeded 25 billion cubic meters last year, accounting for 10% of the total natural gas production, with total oil and gas production surpassing 400 million tons of oil equivalent for the first time [3] - Last year, China's crude oil production reached 213 million tons, while natural gas production was 246.4 billion cubic meters, marking an increase of over 10 billion cubic meters for eight consecutive years [3]

Group 1 - The fully-owned subsidiary of Beijing Bode Shida Petroleum Technology Co., Ltd., Bode Shida (Tianjin) Energy Technology Co., Ltd., has officially commenced operations at its new base in Tianjin, which covers an area of 15,000 square meters and focuses on the development and manufacturing of drilling tools, high-temperature and high-pressure completion tools, and casing drive systems (CDS) [1] - The new base incorporates intelligent production lines and high-precision processing equipment, which will significantly enhance the company's service capabilities in oil and gas field development, thereby reducing costs and increasing efficiency in resource exploration [1] - Bode Shida has signed strategic cooperation agreements with major companies such as China National Offshore Oil Corporation (CNOOC) and China National Petroleum Corporation (CNPC) to deepen collaboration in oil and gas field development technology services and equipment procurement [1] Group 2 - The company has obtained 72 patent authorizations in core areas such as drilling tools and completion equipment, and plans to establish a research and development center at the new base to focus on advanced technologies like deep-sea drilling and shale gas development [2] - Future plans include expanding production capacity in the Tianjin Lingang area with a second phase project to build a new energy equipment production line, promoting diversification in the energy industry [2] - The company aims to leverage the geographical advantages of the Tianjin Port Free Trade Zone to strengthen international logistics cooperation and establish the Lingang base as a global high-end downhole equipment manufacturing hub [2]