W&T Offshore’s lifting costs
In 3Q16, W&T Offshore (WTI) reported lifting costs of ~$11.30 per boe (barrels of oil equivalent), which is ~2% lower than in 3Q15.
Lifting costs (also called production costs) are the costs to operate and maintain wells after drilling is complete. Lifting cost is derived by adding LOE (lease operating expenses), workover costs, transportation costs, and production taxes.
In 3Q16, WTI’s LOE was $9.82 per boe, which is ~6% lower when compared with 3Q15. For 3Q16, Denbury Resources (DNR) and Diamondback Energy (FANG) reported LOEs of $18.82 per boe and $5.37 per boe, respectively. The Energy Select Sector SPDR ETF (XLE) generally invests at least 95% of its total assets in oil and gas companies.