Marathon Oil’s lease operating expenses in 3Q16
In 3Q16, Marathon Oil (MRO) reported North America LOE (lease operating expenses) of $5.70 per boe (barrel of oil equivalent), which is ~23.0% less than 3Q15.
For the first nine months of 2016, Marathon Oil’s LOE was $6.05 per boe. LOE, also referred to as production operating expenses, is the cost to operate wells after drilling is completed.
Marathon Oil’s LOE guidance
In August, 2016, Marathon Oil (MRO) reduced its 2016 LOE guidance for the North America region by $1 per boe to a new range of $6–$7 per boe.