In 2Q17, Marathon Oil (MRO) reported a lifting cost of ~$6.75 per boe (barrel of oil equivalent), which is ~28.0% lower than its 2Q16 lifting cost of ~$10.88. Sequentially, Marathon Oil’s lifting costs rose ~8.0% compared to its lifting cost of $6.24 in 1Q17.
Lifting costs (also called production costs) are the costs to operate and maintain wells after drilling is complete. Lifting cost is derived by adding lease operating expenses (or LOE), workover costs, and production taxes. In 2Q17, its LOE was $5.37 per boe (barrel of oil equivalent), which is ~18.0% higher than LOE in 2Q16 of ~$6.29 per boe.
View more information: https://marketrealist.com/2017/09/marathon-oils-lifting-costs/