LIFTING & OPERATING EXPENSE Definition

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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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LISTING is a written contract between an agent and a principal giving authorization to the agent to perform services for the principal involving the principal's property; or, a record of a property for sale by a broker who has been authorized by the owner of the property to be sold.

SINGLE AUDIT ACT is federal legislation requiring state and local governments that receive federal aid of $500,000 or more in a fiscal year to have an audit under the act. A government that receives less than $500,000 can have an audit under the act or with specific laws and regulations of programs in which the government participates. Auditors report whether the audited entity has followed laws and regulations that may have a material effect on each major federal aid program.

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