a First Down on 3rd/4th down. Half the yardage needed on 2nd down. And either half of 4/10 of the yardage needed on 1st down.
It then compares the % of successes that each offense got and subtracts the loser's from the winner's. In this case, an average offensive play for Oklahoma State's offense was more successful about than ours by about 10% - which is a lot considering we won.
There are some obvious deficiencies in this metrics such as a 70-yard TD counting the same as a 5-yard run on first down, it is situationally agnostic, it ignores the effects of turnovers and the difficulty of getting a successful play in the red zone when the field is compacted. But when its all averaged, its a decent measure or how each team played.