Marathon Oil’s operating netback
In 4Q16, Marathon Oil (MRO) reported an operating netback of ~$10.49 per boe (barrel of oil equivalent), ~7% higher than its operating netback in 4Q15.
Operating netback (also referred as production netback) is the oil and gas revenue realized per boe after all the costs to bring one boe to the marketplace have been subtracted from its realized price. Operating netback is derived by subtracting field operating expenses (or production expenses), production taxes, and transportation expenses from the realized price, including hedging benefits.
According to the SPDR S&P 500 ETF Trust prospectus, “The Trust seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500® Index.”