To clarify the point on his LOB%...
If you look at his .199 BABIP, that is a completely unsustainable number. He doesn't really have enough of a history to say he has a "career BABIP" yet, and the league average is ~.300. So when that goes up, his LOB% goes down.
Fact is, a 92% LOB is unsustainable, and when you combine that with his .199 BABIP and the bullpen behind him, that number is sure to go down.
On his xFIP, that is a tool for determining how well a pitcher has pitched based only on what he can control. For example, his k/9, his bb/9 are worked together with a normalized BABIP and HR/FB rate to show an "expected ERA".
xFIP= Expected Fielding Independent Pitching
And no, it is not "experimental". It may not be perfect, but it is the way more predictive than ERA or WHIP are.
Also, a 3.75 xFIP is still very good, and I do think there is reason for optimism with Ogando, even if he isn't necessarily going to help much in the pennant race this year.