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Explore practical explanations of oil & gas concepts, with questions to help guide your next review or conversation.
Lease Operating Statement (LOS)
How is this well or property performing financially?
Lease Operating Expense (LOE)
Why did LOE increase this month?
Authorization for Expenditure (AFE)
Is the project over or under its AFE?
Well Economics
How has a well’s economic performance changed over time?
Capital Expenditures (CapEx) vs. Operating Expenditures (OpEx)
Is an unusual cost related to routine operations or a larger project?
Joint Interest Billing (JIB)
Why did the JIB increase this month?
Working Interest vs. Royalty Interest
Why am I responsible for certain well costs?
Workover Economics
Did the workover deliver the financial results we expected?