Devon Energy’s 3Q16 lease operating expenses
In 3Q16, Devon Energy (DVN) reported LOE (lease operating expenses) of $355 million, or ~$6.76 per boe (barrel of oil equivalent), which is ~30% lower when compared with 3Q15.
Devon Energy’s operational excellence was driven by its reduction in LOE. Devon Energy’s LOE is down ~37% from its peak in 2015. LOE (or production operating expenses) are the costs to operate wells after drilling is complete.