We extend the field of Laurent series over the reals in a canonical way to an ordered differential field of “logarithmic-exponential series” , which is equipped with a well behaved exponentiation. We show that the LE-series with derivative 0 are exactly the real constants, and we invert operators to show that each LE-series has a formal integral. We give evidence for the conjecture that the field of LE-series is a universal domain for ordered differential algebra in Hardy fields. We define (...) composition of LE-series and establish its basic properties, including the existence of compositional inverses. Various interesting subfields of the field of LE-series are also considered. (shrink)