LIFTING & OPERATING EXPENSE Definition

LIFTING & OPERATING EXPENSE (LOE), in the oil/energy industry, within any accounting period, it is all cash costs incurred in connection with the running and maintenance of production wells.

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GROSS NATIONAL PRODUCT (GNP) is the total dollar value of all final goods and services produced for consumption in society during a particular time period. The GNP does include allowances for depreciation and indirect business taxes such as those on sales and property. Gross national product is the output of labor and property of US nationals regardless of the location of the labor and property. Gross National Product includes income earned by the factors of production (assets and labor) owned by a countrys residents but excludes income produced within the countrys borders by factors of production owned by nonresidents.

OPERATING LEVERAGE is fixed operating costs divided by total (fixed plus variable) operating costs.

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