EOG Resources (EOG) 10-Q 4 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 27, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	EOG RESOURCES INC
Entity Central Index Key	821,189
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		550,643,529
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net Operating Revenues
Crude Oil and Condensate	$ 1,059,690	$ 1,452,756	$ 1,813,401	$ 2,713,000
Natural Gas Liquids	111,643	103,930	186,962	215,920
Natural Gas	155,983	274,038	321,486	561,820
Gains on Mark-to-Market Commodity Derivative Contracts	(44,373)	(48,493)	(38,938)	27,715
Gathering, Processing and Marketing	485,256	678,356	819,209	1,248,626
Losses on Asset Dispositions, Net	(15,550)	(5,564)	(6,403)	(3,957)
Other, Net	23,091	14,678	34,372	25,115
Total	1,775,740	2,469,701	3,130,089	4,788,239
Operating Expenses
Lease and Well	218,393	289,664	459,258	651,145
Transportation Costs	179,471	209,833	369,925	438,145
Gathering and Processing Costs	29,226	34,997	57,750	71,006
Exploration Costs	30,559	43,755	60,388	83,204
Dry Hole Costs	(172)	(551)	74	14,119
Impairments	72,714	68,519	144,331	137,955
Marketing Costs	480,046	670,169	820,900	1,308,831
Depreciation, Depletion and Amortization	862,491	909,227	1,791,382	1,822,015
General and Administrative	97,705	82,324	198,236	166,621
Taxes Other Than Income	93,480	122,138	154,159	228,567
Total	2,063,913	2,430,075	4,056,403	4,921,608
Operating Income (Loss)	(288,173)	39,626	(926,314)	(133,369)
Other Income (Expense), Net	(20,996)	9,380	(25,433)	(611)
Income (Loss) Before Interest Expense and Income Taxes	(309,169)	49,006	(951,747)	(133,980)
Interest Expense
Interest Expense, Net	71,108	60,484	139,498	113,829
Loss Before Income Taxes	(380,277)	(11,478)	(1,091,245)	(247,809)
Income Tax Benefit	(87,719)	(16,746)	(326,911)	(83,329)
Net Income (Loss)	$ (292,558)	$ 5,268	$ (764,334)	$ (164,480)
Net Income (Loss) Per Share
Basic	$ (0.53)	$ 0.01	$ (1.40)	$ (0.30)
Diluted	(0.53)	0.01	(1.40)	(0.30)
Dividends Declared per Common Share	$ 0.1675	$ 0.1675	$ 0.3350	$ 0.3350
Average Number of Common Shares
Basic	547,335	545,504	547,029	545,245
Diluted	547,335	549,683	547,029	545,245
Comprehensive Income (Loss)
Net Income (Loss)	$ (292,558)	$ 5,268	$ (764,334)	$ (164,480)
Other Comprehensive Income (Loss)
Foreign Currency Translation Adjustments	5,844	8,404	8,029	(4,763)
Other	23	27	45	(184)
Other Comprehensive Income (Loss)	5,867	8,431	8,074	(4,947)
Comprehensive Income (Loss)	$ (286,691)	$ 13,699	$ (756,260)	$ (169,427)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current Assets
Cash and Cash Equivalents	$ 779,722	$ 718,506
Accounts Receivable, Net	935,592	930,610
Inventories	495,826	598,935
Income Taxes Receivable	4,880	40,704
Deferred Income Taxes	46,712	147,812
Other	187,389	155,677
Total	2,450,121	2,592,244
Property, Plant and Equipment
Oil and Gas Properties (Successful Efforts Method)	51,355,620	50,613,241
Other Property, Plant and Equipment	4,001,132	3,986,610
Total Property, Plant and Equipment	55,356,752	54,599,851
Less: Accumulated Depreciation, Depletion and Amortization	(32,143,873)	(30,389,130)
Total Property, Plant and Equipment, Net	23,212,879	24,210,721
Other Assets	167,538	167,505
Total Assets	25,830,538	26,970,470
Current Liabilities
Accounts Payable	1,305,651	1,471,953
Accrued Taxes Payable	138,395	93,618
Dividends Payable	91,679	91,546
Liabilities from Price Risk Management Activities	1,315	0
Short-Term Borrowings and Current Portion of Long-Term Debt	6,579	6,579
Other	168,642	155,591
Total	1,712,261	1,819,287
Long-Term Debt	6,979,286	6,648,911
Other Liabilities	978,513	971,335
Deferred Income Taxes	4,103,777	4,587,902
Commitments and Contingencies (Note 8)
Stockholders' Equity
Common Stock, $0.01 Par, 640,000,000 Shares Authorized and 551,004,831 Shares Issued at June 30, 2016 and 550,150,823 Shares Issued at December 31, 2015	205,510	205,502
Additional Paid in Capital	2,982,047	2,923,461
Accumulated Other Comprehensive Loss	(25,264)	(33,338)
Retained Earnings	8,923,666	9,870,816
Common Stock Held in Treasury, 375,869 Shares at June 30, 2016 and 292,179 Shares at December 31, 2015	(29,258)	(23,406)
Total Stockholders' Equity	12,056,701	12,943,035
Total Liabilities and Stockholders' Equity	$ 25,830,538	$ 26,970,470

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Common Stock
Common Stock, Par Value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Shares Authorized (in shares)	640,000,000	640,000,000
Common Stock, Shares Issued (in shares)	551,004,831	550,150,823
Treasury Stock (in shares)
Common Stock Held in Treasury, Shares	375,869	292,179

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash Flows from Operating Activities
Net Loss	$ (764,334)	$ (164,480)
Items Not Requiring (Providing) Cash
Depreciation, Depletion and Amortization	1,791,382	1,822,015
Impairments	144,331	137,955
Stock-Based Compensation Expenses	59,471	61,650
Deferred Income Taxes	(384,294)	(154,803)
Losses on Asset Dispositions, Net	6,403	3,957
Other, Net	29,991	6,787
Dry Hole Costs	74	14,119
Mark-to-Market Commodity Derivative Contracts
Total (Gains) Losses	38,938	(27,715)
Net Cash Received from Settlements of Commodity Derivative Contracts	2,852	561,142
Excess Tax Benefits from Stock-Based Compensation	(11,811)	(16,393)
Other, Net	5,008	6,346
Changes in Components of Working Capital and Other Assets and Liabilities
Accounts Receivable	(22,572)	298,183
Inventories	95,813	37,609
Accounts Payable	(203,358)	(999,644)
Accrued Taxes Payable	93,320	64,124
Other Assets	(33,589)	76,114
Other Liabilities	1,565	(48,848)
Changes in Components of Working Capital Associated with Investing and Financing Activities	(54,453)	169,802
Net Cash Provided by Operating Activities	794,737	1,847,920
Investing Cash Flows
Additions to Oil and Gas Properties	(1,143,549)	(2,611,848)
Additions to Other Property, Plant and Equipment	(44,584)	(201,597)
Proceeds from Sales of Assets	252,529	116,166
Changes in Components of Working Capital Associated with Investing Activities	54,477	(169,903)
Net Cash Used in Investing Activities	(881,127)	(2,867,182)
Financing Cash Flows
Repayments of Commercial Paper	(259,718)	0
Long-Term Debt Borrowings	991,097	990,225
Long-Term Debt Repayments	(400,000)	(500,000)
Dividends Paid	(184,036)	(183,130)
Excess Tax Benefits from Stock-Based Compensation	11,811	16,393
Treasury Stock Purchased	(28,755)	(26,362)
Proceeds from Stock Options Exercised and Employee Stock Purchase Plan	10,624	14,484
Debt Issuance Costs	(1,602)	(1,585)
Repayment of Capital Lease Obligation	(3,150)	(3,053)
Other, Net	(24)	101
Net Cash Provided by Financing Activities	136,247	307,073
Effect of Exchange Rate Changes on Cash	11,359	(7,629)
Increase (Decrease) in Cash and Cash Equivalents	61,216	(719,818)
Cash and Cash Equivalents at Beginning of Period	718,506	2,087,213
Cash and Cash Equivalents at End of Period	$ 779,722	$ 1,367,395

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies [Text Block]	Summary of Significant Accounting Policies General. The consolidated financial statements of EOG Resources, Inc., together with its subsidiaries (collectively, EOG), included herein have been prepared by management without audit pursuant to the rules and regulations of the United States Securities and Exchange Commission (SEC). Accordingly, they reflect all normal recurring adjustments which are, in the opinion of management, necessary for a fair presentation of the financial results for the interim periods presented. Certain information and notes normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) have been condensed or omitted pursuant to such rules and regulations. However, management believes that the disclosures included either on the face of the financial statements or in these notes are sufficient to make the interim information presented not misleading. These consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in EOG's Annual Report on Form 10-K for the year ended December 31, 2015 , filed on February 25, 2016 (EOG's 2015 Annual Report). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The operating results for the three and six months ended June 30, 2016 , are not necessarily indicative of the results to be expected for the full year. Effective January 1, 2016, EOG adopted the provisions of Accounting Standards Update (ASU) 2015-03, "Interest - Computation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs” (ASU 2015-03). ASU 2015-03 requires that debt issuance costs be presented in the balance sheet as a direct reduction from the related debt liability rather than as an asset. In connection with the adoption of ASU 2015-03, EOG restated its December 31, 2015 Consolidated Balance Sheet to reclassify $ 4.8 million of unamortized debt issuance costs from "Other Assets" to "Long-Term Debt." Debt issuance costs related to EOG's senior unsecured credit facility remain classified as "Other Assets." Recently Issued Accounting Standards. In March 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-09, "Improvements to Employee Share-Based Payment Accounting" (ASU 2016-09), which amends certain aspects of accounting for share-based payment arrangements. ASU 2016-09 revises or provides alternative accounting for the tax impacts of share-based payment arrangements, forfeitures and minimum statutory tax withholdings and prescribes certain disclosures to be made in the period the new standard is adopted. ASU 2016-09 is effective for interim and annual periods beginning after December 15, 2016, and early application is permitted. EOG is evaluating ASU 2016-09 in order to determine what impact the new standard will have on its consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)" (ASU 2016-02), which significantly changes accounting for leases by requiring that lessees recognize a right-of-use asset and a related lease liability representing the obligation to make lease payments, for virtually all lease transactions. Additional disclosures about an entity's lease transactions will also be required. ASU 2016-02 defines a lease as "a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment (an identified asset) for a period of time in exchange for consideration." ASU 2016-02 is effective for interim and annual periods beginning after December 31, 2018 and early application is permitted. Lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented in the financial statements using a modified retrospective approach. EOG is reviewing the provisions of ASU 2016-02 to determine the impact on its consolidated financial statements and related disclosures. In November 2015, the FASB issued ASU 2015-17, "Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes" (ASU 2015-17), which simplifies the presentation of deferred taxes in a classified balance sheet by eliminating the requirement to separate deferred income tax liabilities and assets into current and noncurrent amounts. Instead, ASU 2015-17 requires that all deferred tax liabilities and assets be shown as noncurrent in a classified balance sheet. ASU 2015-17 is effective for financial statements issued for interim and annual periods beginning after December 15, 2016, and early application is permitted. EOG does not intend to early-adopt ASU 2015-17 and does not expect the new standard to have a material impact on its consolidated financial statements and related disclosures. In July 2015, the FASB issued ASU 2015-11, "Accounting for Inventory" (ASU 2015-11), which requires entities to measure most inventory at lower of cost or net realizable value. ASU 2015-11 defines net realizable value as "the estimated selling prices in the ordinary course of business, less reasonably predictable cost of completion, disposal and transportation." ASU 2015-11 is effective prospectively for interim and annual periods beginning after December 15, 2016, and early application is permitted. EOG is reviewing the requirements of the new standard and does not believe that the adoption of ASU 2015-11 will have a material impact on its consolidated financial statements and related disclosures. In May 2014, the FASB issued ASU 2014-09, "Revenue From Contracts With Customers" (ASU 2014-09), which will require entities to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 will supersede most current guidance related to revenue recognition when it becomes effective. The new standard also will require expanded disclosures regarding the nature, amount, timing and certainty of revenue and cash flows from contracts with customers. ASU 2014-09 is effective for interim and annual reporting periods beginning after December 15, 2017, and early adoption is permitted. The new standard permits adoption through the use of either the full retrospective approach or a modified retrospective approach. In May 2016, the FASB issued ASU 2016-11 which rescinds certain SEC guidance in the Accounting Standards Codification, including guidance related to the use of the "entitlements" method of revenue recognition used by EOG. EOG does not intend to early-adopt ASU 2014-09 and has not determined which transition method it will use. EOG continues to analyze ASU 2014-09, as well as subsequent guidance which amends and clarifies certain aspects of ASU 2014-09, in order to determine what impact it will have on EOG's consolidated financial statements and related disclosures.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation [Text Block]	Stock-Based Compensation As more fully discussed in Note 7 to the Consolidated Financial Statements included in EOG's 2015 Annual Report, EOG maintains various stock-based compensation plans. Stock-based compensation expense is included on the Consolidated Statements of Income and Comprehensive Income based upon the job function of the employees receiving the grants as follows (in millions): Three Months Ended Six Months Ended 2016 2015 2016 2015 Lease and Well $ 8.9 $ 10.5 $ 19.3 $ 22.6 Gathering and Processing Costs 0.3 0.3 0.6 0.6 Exploration Costs 5.0 5.9 11.5 13.3 General and Administrative 12.9 11.9 28.1 25.2 Total $ 27.1 $ 28.6 $ 59.5 $ 61.7 The Amended and Restated EOG Resources, Inc. 2008 Omnibus Equity Compensation Plan (2008 Plan) provides for grants of stock options, stock-settled stock appreciation rights (SARs), restricted stock and restricted stock units, performance units and performance stock and other stock-based awards. At June 30, 2016 , approximately 24.5 million common shares remained available for grant under the 2008 Plan. EOG's policy is to issue shares related to the 2008 Plan from previously authorized unissued shares or treasury shares to the extent treasury shares are available. Stock Options and Stock-Settled Stock Appreciation Rights and Employee Stock Purchase Plan . The fair value of stock option grants and SAR grants is estimated using the Hull-White II binomial option pricing model. The fair value of Employee Stock Purchase Plan (ESPP) grants is estimated using the Black-Scholes-Merton model. Stock-based compensation expense related to stock option, SAR and ESPP grants totaled $13.0 million and $11.7 million during the three months ended June 30, 2016 and 2015 , respectively, and $26.2 million and $23.3 million during the six months ended June 30, 2016 and 2015 , respectively. Weighted average fair values and valuation assumptions used to value stock option, SAR and ESPP grants during the six -month periods ended June 30, 2016 and 2015 are as follows: Stock Options/SARs ESPP Six Months Ended Six Months Ended 2016 2015 2016 2015 Weighted Average Fair Value of Grants $ 21.04 $ 29.78 $ 17.56 $ 23.39 Expected Volatility 35.90 % 38.93 % 36.79 % 37.47 % Risk-Free Interest Rate 0.93 % 0.82 % 0.49 % 0.11 % Dividend Yield 0.91 % 0.73 % 0.82 % 0.72 % Expected Life 5.3 years 5.3 years 0.5 years 0.5 years Expected volatility is based on an equal weighting of historical volatility and implied volatility from traded options in EOG's common stock. The risk-free interest rate is based upon United States Treasury yields in effect at the time of grant. The expected life is based upon historical experience and contractual terms of stock option, SAR and ESPP grants. The following table sets forth stock option and SAR transactions for the six -month periods ended June 30, 2016 and 2015 (stock options and SARs in thousands): Six Months Ended Six Months Ended Number of Stock Options/SARs Weighted Average Grant Price Number of Stock Options/SARs Weighted Average Grant Price Outstanding at January 1 10,744 $ 67.98 10,493 $ 64.96 Granted 11 71.51 39 92.37 Exercised (1) (790 ) 44.31 (885 ) 48.30 Forfeited (150 ) 85.91 (177 ) 79.43 Outstanding at June 30 (2) 9,815 $ 69.61 9,470 $ 66.36 Vested or Expected to Vest (3) 9,490 $ 69.24 8,987 $ 65.56 Exercisable at June 30 (4) 5,638 $ 61.50 4,635 $ 50.92 (1) The total intrinsic value of stock options/SARs exercised for the six months ended June 30, 2016 and 2015 was $26.8 million and $39.1 million, respectively. The intrinsic value is based upon the difference between the market price of EOG's common stock on the date of exercise and the grant price of the stock options/SARs. (2) The total intrinsic value of stock options/SARs outstanding at June 30, 2016 and 2015 was $173.1 million and $229.5 million, respectively. At June 30, 2016 and 2015 , the weighted average remaining contractual life was 3.6 years and 3.9 years, respectively. (3) The total intrinsic value of stock options/SARs vested or expected to vest at June 30, 2016 and 2015 was $170.3 million and $223.6 million, respectively. At June 30, 2016 and 2015 , the weighted average remaining contractual life was 3.6 years and 3.9 years, respectively. (4) The total intrinsic value of stock options/SARs exercisable at June 30, 2016 and 2015 was $137.7 million and $170.9 million, respectively. At June 30, 2016 and 2015 , the weighted average remaining contractual life was 2.4 years and 2.6 years, respectively. At June 30, 2016 , unrecognized compensation expense related to non-vested stock option, SAR and ESPP grants totaled $76.0 million . Such unrecognized expense will be amortized on a straight-line basis over a weighted average period of 2.3 years . Restricted Stock and Restricted Stock Units. Employees may be granted restricted (non-vested) stock and/or restricted stock units without cost to them. Stock-based compensation expense related to restricted stock and restricted stock units totaled $13.7 million and $ 16.5 million for the three months ended June 30, 2016 and 2015 , respectively, and $32.4 million and $ 37.7 million for the six months ended June 30, 2016 and 2015, respectively. The following table sets forth restricted stock and restricted stock unit transactions for the six -month periods ended June 30, 2016 and 2015 (shares and units in thousands): Six Months Ended Six Months Ended Number of Shares and Units Weighted Average Grant Date Fair Value Number of Shares and Units Weighted Average Grant Date Fair Value Outstanding at January 1 4,908 $ 70.35 5,394 $ 64.39 Granted 306 75.56 456 88.29 Released (1) (798 ) 61.36 (593 ) 54.85 Forfeited (203 ) 76.97 (130 ) 74.13 Outstanding at June 30 (2) 4,213 $ 72.11 5,127 $ 67.37 (1) The total intrinsic value of restricted stock and restricted stock units released for the six months ended June 30, 2016 and 2015 was $60.8 million and $53.9 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date the restricted stock and restricted stock units are released. (2) The total intrinsic value of restricted stock and restricted stock units outstanding at June 30, 2016 and 2015 was $351.5 million and $448.9 million, respectively. At June 30, 2016 , unrecognized compensation expense related to restricted stock and restricted stock units totaled $137.8 million . Such unrecognized expense will be amortized on a straight-line basis over a weighted average period of 2.3 years . Performance Units and Performance Stock. EOG grants performance units and/or performance stock (Performance Awards) to its executive officers. As more fully discussed in the grant agreements, the performance metric applicable to these performance-based grants is EOG's total shareholder return over a three -year performance period relative to the total shareholder return of a designated group of peer companies (Performance Period). Upon the application of the performance multiple at the completion of the Performance Period, a minimum of 0% and a maximum of 200% of the Performance Awards granted could be outstanding. Subject to the termination provisions set forth in the grant agreements and the applicable performance multiple, the grants of Performance Awards will "cliff" vest five years from the date of grant. The fair value of the Performance Awards is estimated using a Monte Carlo simulation. At December 31, 2015, 405,000 Performance Awards were outstanding. Upon completion of the Performance Period for the Performance Awards granted in 2012, a performance multiple of 200% was applied to the 2012 grants resulting in an additional grant of 142,556 Performance Awards in February 2016. Performance Awards totaling 134,016 were released during the six months ended June 30, 2016 , with a total intrinsic value of $9.7 million , based upon the closing price of EOG's common stock on the release date. Upon the application of the performance multiple at the completion of the remaining Performance Periods, a minimum of 151,096 and a maximum of 675,984 Performance Awards could be outstanding. There were 413,540 Performance Awards outstanding as of June 30, 2016 . Stock-based compensation expense related to the Performance Award grants totaled $0.4 million for both the three month periods ended June 30, 2016 and 2015 , respectively, and $0.9 million and $ 0.7 million for the six months ended June 30, 2016 and 2015 , respectively. At June 30, 2016 , unrecognized compensation expense related to Performance Awards totaled $5.1 million . Such unrecognized expense will be amortized on a straight-line basis over a weighted average period of 2.8 years .

Net Income (Loss) Per Share

Net Income (Loss) Per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Net Income (Loss) Per Share [Text Block]	Net Income (Loss) Per Share The following table sets forth the computation of Net Income (Loss) Per Share for the three -month and six -month periods ended June 30, 2016 and 2015 (in thousands, except per share data): Three Months Ended Six Months Ended 2016 2015 2016 2015 Numerator for Basic and Diluted Earnings Per Share - Net Income (Loss) $ (292,558 ) $ 5,268 $ (764,334 ) $ (164,480 ) Denominator for Basic Earnings Per Share - Weighted Average Shares 547,335 545,504 547,029 545,245 Potential Dilutive Common Shares - Stock Options/SARs — 1,960 — — Restricted Stock/Units and Performance Units/Stock — 2,219 — — Denominator for Diluted Earnings Per Share - Adjusted Diluted Weighted Average Shares 547,335 549,683 547,029 545,245 Net Income (Loss) Per Share Basic $ (0.53 ) $ 0.01 $ (1.40 ) $ (0.30 ) Diluted $ (0.53 ) $ 0.01 $ (1.40 ) $ (0.30 ) The diluted earnings per share calculation excludes stock options, SARs, restricted stock and units and performance units and stock that were anti-dilutive. Shares underlying the excluded stock options and SARs totaled 10.2 million and 2.0 million shares for the three months ended June 30, 2016 and 2015 , respectively, and 10.4 million and 10.0 million shares for the six months ended June 30, 2016 and 2015 , respectively. For both the three months and six months ended June 30, 2016 , 4.6 million shares of restricted stock, restricted stock units and performance units were excluded. For the three months and six months ended June 30, 2015 , zero and 5.5 million shares, respectively, of restricted stock, restricted stock units and performance units were excluded.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2016
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information [Text Block]	Supplemental Cash Flow Information Net cash paid for interest and income taxes was as follows for the six -month periods ended June 30, 2016 and 2015 (in thousands): Six Months Ended 2016 2015 Interest (1) $ 118,120 $ 102,114 Income Taxes, Net of Refunds Received $ (10,997 ) $ 49,565 (1) Net of capitalized interest of $17 million and $23 million for the six months ended June 30, 2016 and 2015 , respectively. EOG's accrued capital expenditures at June 30, 2016 and 2015 were $371 million and $ 777 million , respectively.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Segment Information [Text Block]	Segment Information Selected financial information by reportable segment is presented below for the three -month and six -month periods ended June 30, 2016 and 2015 (in thousands): Three Months Ended Six Months Ended 2016 2015 2016 2015 Net Operating Revenues United States $ 1,704,320 $ 2,369,319 $ 2,983,989 $ 4,581,901 Trinidad 62,731 95,703 125,524 192,265 Other International (1) 8,689 4,679 20,576 14,073 Total $ 1,775,740 $ 2,469,701 $ 3,130,089 $ 4,788,239 Operating Income (Loss) United States $ (280,593 ) $ 20,232 $ (905,577 ) $ (161,624 ) Trinidad 17,054 45,907 25,932 92,887 Other International (1) (24,634 ) (26,513 ) (46,669 ) (64,632 ) Total (288,173 ) 39,626 (926,314 ) (133,369 ) Reconciling Items Other Income (Expense), Net (20,996 ) 9,380 (25,433 ) (611 ) Interest Expense, Net (71,108 ) (60,484 ) (139,498 ) (113,829 ) Loss Before Income Taxes $ (380,277 ) $ (11,478 ) $ (1,091,245 ) $ (247,809 ) (1) Other International primarily includes EOG's United Kingdom, China, Canada and Argentina operations. Total assets by reportable segment are presented below at June 30, 2016 and December 31, 2015 (in thousands): At June 30, 2016 At December 31, 2015 Total Assets United States $ 24,300,025 $ 25,347,134 Trinidad 871,072 886,826 Other International (1) 659,441 736,510 Total $ 25,830,538 $ 26,970,470 (1) Other International primarily consists of EOG's United Kingdom, China, Canada and Argentina operations.

Asset Retirement Obligations

Asset Retirement Obligations	6 Months Ended
	Jun. 30, 2016
Asset Retirement Obligation [Abstract]
Asset Retirement Obligations [Text Block]	Asset Retirement Obligations The following table presents the reconciliation of the beginning and ending aggregate carrying amounts of short-term and long-term legal obligations associated with the retirement of property, plant and equipment for the six -month periods ended June 30, 2016 and 2015 (in thousands): Six Months Ended 2016 2015 Carrying Amount at Beginning of Period $ 811,554 $ 752,718 Liabilities Incurred 18,258 19,990 Liabilities Settled (1) (18,043 ) (9,891 ) Accretion 16,521 15,815 Revisions (635 ) 18,156 Foreign Currency Translations (6,745 ) (1,009 ) Carrying Amount at End of Period $ 820,910 $ 795,779 Current Portion $ 8,349 $ 10,993 Noncurrent Portion $ 812,561 $ 784,786 (1) Includes settlements related to asset sales. The current and noncurrent portions of EOG's asset retirement obligations are included in Current Liabilities - Other and Other Liabilities, respectively, on the Consolidated Balance Sheets.

Exploratory Well Costs

Exploratory Well Costs	6 Months Ended
	Jun. 30, 2016
Capitalized Exploratory Well Costs [Abstract]
Exploratory Well Costs [Text Block]	Exploratory Well Costs EOG's net changes in capitalized exploratory well costs for the six -month period ended June 30, 2016 , are presented below (in thousands): Six Months Ended Balance at January 1 $ 8,955 Additions Pending the Determination of Proved Reserves 6,688 Reclassifications to Proved Properties — Costs Charged to Expense — Balance at June 30 $ 15,643 At June 30, 2016 , all capitalized exploratory well costs had been capitalized for periods of less than one year.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies [Text Block]	Commitments and Contingencies There are currently various suits and claims pending against EOG that have arisen in the ordinary course of EOG's business, including contract disputes, personal injury and property damage claims and title disputes. While the ultimate outcome and impact on EOG cannot be predicted, management believes that the resolution of these suits and claims will not, individually or in the aggregate, have a material adverse effect on EOG's consolidated financial position, results of operations or cash flow. EOG records reserves for contingencies when information available indicates that a loss is probable and the amount of the loss can be reasonably estimated.

Pension and Postretirement Bene

Pension and Postretirement Benefits	6 Months Ended
	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Pension and Postretirement Benefits [Text Block]	Pension and Postretirement Benefits EOG has defined contribution pension plans in place for most of its employees in the United States, Trinidad and the United Kingdom, and a defined benefit pension plan covering certain of its employees in Trinidad. For the six months ended June 30, 2016 and 2015 , EOG's total costs recognized for these pension plans were $17.2 million and $18.4 million , respectively. EOG also has postretirement medical and dental plans in place for eligible employees in the United States and Trinidad, the costs of which are not material.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Long-Term Debt [Text Block]	Long-Term Debt During the six months ended June 30, 2016 , EOG utilized commercial paper borrowings bearing market interest rates, for various corporate financing purposes. At June 30, 2016 , EOG had no outstanding commercial paper borrowings or uncommitted credit facility borrowings. The average borrowings outstanding under the commercial paper program were $210 million during the six months ended June 30, 2016 . The weighted average interest rate for commercial paper borrowings during the six months ended June 30, 2016 was 0.76% . EOG had no outstanding commercial paper borrowings or uncommitted credit facility borrowings at June 30, 2015 and did not utilize any such borrowings during the six months ended June 30, 2015 . On February 1, 2016 , EOG repaid upon maturity the $400 million aggregate principal amount of its 2.500% Senior Notes due 2016 (2016 Notes). On January 14, 2016 , EOG closed its sale of $750 million aggregate principal amount of its 4.15% Senior Notes due 2026 and $250 million aggregate principal amount of its 5.10% Senior Notes due 2036 (collectively, the Notes). Interest on the Notes is payable semi-annually in arrears on January 15 and July 15 of each year beginning on July 15, 2016. Net proceeds from the Notes offering totaled approximately $991 million and were used to repay the 2016 Notes when they matured on February 1, 2016 , and for general corporate purposes, including repayment of outstanding commercial paper borrowings and funding of capital expenditures. EOG currently has a $2.0 billion senior unsecured Revolving Credit Agreement (Agreement) with domestic and foreign lenders. The Agreement has a scheduled maturity date of July 21, 2020 , and includes an option for EOG to extend, on up to two occasions, the term for successive one-year periods subject to certain terms and conditions. Advances under the Agreement will accrue interest based, at EOG's option, on either the London InterBank Offered Rate plus an applicable margin (Eurodollar rate) or the base rate (as defined in the Agreement) plus an applicable margin. At June 30, 2016 , there were no borrowings or letters of credit outstanding under the Agreement. The Eurodollar rate and applicable base rate, had there been any amounts borrowed under the Agreement, would have been 1.47% and 3.50% , respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements [Text Block]	Fair Value Measurements As more fully discussed in Note 13 to the Consolidated Financial Statements included in EOG's 2015 Annual Report, certain of EOG's financial and nonfinancial assets and liabilities are reported at fair value on the Consolidated Balance Sheets. The following table provides fair value measurement information within the fair value hierarchy for certain of EOG's financial assets and liabilities carried at fair value on a recurring basis at June 30, 2016 . There were no such amounts outstanding at December 31, 2015. Amounts shown in millions. Fair Value Measurements Using: Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total At June 30, 2016 Financial Liabilities Natural Gas Price Swaps (1) $ — $ 1 $ — $ 1 (1) Balance at June 30, 2016, included in "Current Liabilities - Liabilities From Price Risk Management Activities" on the Consolidated Balance Sheets. The estimated fair value of commodity derivative contracts was based upon forward commodity price curves based on quoted market prices. Commodity derivative contracts were valued by utilizing an independent third-party derivative valuation provider who uses various types of valuation models, as applicable. The initial measurement of asset retirement obligations at fair value is calculated using discounted cash flow techniques and based on internal estimates of future retirement costs associated with property, plant and equipment. Significant Level 3 inputs used in the calculation of asset retirement obligations include plugging costs and reserve lives. A reconciliation of EOG's asset retirement obligations is presented in Note 6. Fair Value of Debt. At June 30, 2016 and December 31, 2015 , EOG had outstanding $6,990 million and $6,390 million , respectively, aggregate principal amount of senior notes, which had estimated fair values of approximately $7,418 million and $6,524 million , respectively. The estimated fair value of debt was based upon quoted market prices and, where such prices were not available, other observable (Level 2) inputs regarding interest rates available to EOG at the end of each respective period.

Risk Management Activities

Risk Management Activities	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Risk Management Activities [Text Block]	Risk Management Activities Commodity Price Risk . As more fully discussed in Note 12 to the Consolidated Financial Statements included in EOG's 2015 Annual Report, EOG engages in price risk management activities from time to time. These activities are intended to manage EOG's exposure to fluctuations in commodity prices for crude oil and natural gas. EOG utilizes financial commodity derivative instruments, primarily price swap, option, swaption, collar and basis swap contracts, as a means to manage this price risk. EOG has not designated any of its financial commodity derivative contracts as accounting hedges and, accordingly, accounts for financial commodity derivative contracts using the mark-to-market accounting method. Commodity Derivative Contracts. Presented below is a comprehensive summary of EOG's natural gas derivative contracts at June 30, 2016 , with notional volumes expressed in million British thermal units (MMBtu) per day (MMBtud) and prices expressed in dollars per MMBtu ($/MMBtu). Natural Gas Derivative Contracts Volume (MMBtud) Weighted Average Price ($/MMBtu) 2016 March 1, 2016 through July 31, 2016 (closed) 60,000 $ 2.49 August 2016 60,000 2.49 Credit Risk. Notional contract amounts are used to express the magnitude of a financial derivative. The amounts potentially subject to credit risk, in the event of nonperformance by the counterparties, are equal to the fair value of such contracts (see Note 11). EOG evaluates its exposure to significant counterparties on an ongoing basis, including those arising from physical and financial transactions. In some instances, EOG renegotiates payment terms and/or requires collateral, parent guarantees or letters of credit to minimize credit risk. All of EOG's derivative instruments are covered by International Swap Dealers Association Master Agreements (ISDAs) with counterparties. The ISDAs may contain provisions that require EOG, if it is the party in a net liability position, to post collateral when the amount of the net liability exceeds the threshold level specified for EOG's then-current credit ratings. In addition, the ISDAs may also provide that as a result of certain circumstances, including certain events that cause EOG's credit ratings to become materially weaker than its then-current ratings, the counterparty may require all outstanding derivatives under the ISDAs to be settled immediately. Natural gas derivative instruments with a fair value of $1.3 million were in a net liability position at June 30, 2016 . EOG had no collateral posted and held no collateral at June 30, 2016 and December 31, 2015 .

Divestitures

Divestitures	6 Months Ended
	Jun. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Divestitures [Text Block]	Divestitures During the first six months of 2016 , EOG received proceeds of approximately $253 million primarily from sales of producing properties and acreage in the Permian Basin and Oklahoma. Additionally, in the second quarter of 2016, EOG signed purchase and sale agreements for the sale of certain properties in the United States. At June 30, 2016 , the book value of these assets held for sale and the related liabilities were $92 million and $23 million , respectively. During the first six months of 2015 , EOG received proceeds of approximately $116 million primarily from the sales of gathering and processing assets.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	Stock-based compensation expense is included on the Consolidated Statements of Income and Comprehensive Income based upon the job function of the employees receiving the grants as follows (in millions): Three Months Ended Six Months Ended 2016 2015 2016 2015 Lease and Well $ 8.9 $ 10.5 $ 19.3 $ 22.6 Gathering and Processing Costs 0.3 0.3 0.6 0.6 Exploration Costs 5.0 5.9 11.5 13.3 General and Administrative 12.9 11.9 28.1 25.2 Total $ 27.1 $ 28.6 $ 59.5 $ 61.7
Weighted Average Fair Values and Valuation Assumptions	Weighted average fair values and valuation assumptions used to value stock option, SAR and ESPP grants during the six -month periods ended June 30, 2016 and 2015 are as follows: Stock Options/SARs ESPP Six Months Ended Six Months Ended 2016 2015 2016 2015 Weighted Average Fair Value of Grants $ 21.04 $ 29.78 $ 17.56 $ 23.39 Expected Volatility 35.90 % 38.93 % 36.79 % 37.47 % Risk-Free Interest Rate 0.93 % 0.82 % 0.49 % 0.11 % Dividend Yield 0.91 % 0.73 % 0.82 % 0.72 % Expected Life 5.3 years 5.3 years 0.5 years 0.5 years
Stock Options and SARs Transactions	The following table sets forth stock option and SAR transactions for the six -month periods ended June 30, 2016 and 2015 (stock options and SARs in thousands): Six Months Ended Six Months Ended Number of Stock Options/SARs Weighted Average Grant Price Number of Stock Options/SARs Weighted Average Grant Price Outstanding at January 1 10,744 $ 67.98 10,493 $ 64.96 Granted 11 71.51 39 92.37 Exercised (1) (790 ) 44.31 (885 ) 48.30 Forfeited (150 ) 85.91 (177 ) 79.43 Outstanding at June 30 (2) 9,815 $ 69.61 9,470 $ 66.36 Vested or Expected to Vest (3) 9,490 $ 69.24 8,987 $ 65.56 Exercisable at June 30 (4) 5,638 $ 61.50 4,635 $ 50.92 (1) The total intrinsic value of stock options/SARs exercised for the six months ended June 30, 2016 and 2015 was $26.8 million and $39.1 million, respectively. The intrinsic value is based upon the difference between the market price of EOG's common stock on the date of exercise and the grant price of the stock options/SARs. (2) The total intrinsic value of stock options/SARs outstanding at June 30, 2016 and 2015 was $173.1 million and $229.5 million, respectively. At June 30, 2016 and 2015 , the weighted average remaining contractual life was 3.6 years and 3.9 years, respectively. (3) The total intrinsic value of stock options/SARs vested or expected to vest at June 30, 2016 and 2015 was $170.3 million and $223.6 million, respectively. At June 30, 2016 and 2015 , the weighted average remaining contractual life was 3.6 years and 3.9 years, respectively. (4) The total intrinsic value of stock options/SARs exercisable at June 30, 2016 and 2015 was $137.7 million and $170.9 million, respectively. At June 30, 2016 and 2015 , the weighted average remaining contractual life was 2.4 years and 2.6 years, respectively.
Restricted Stock and Restricted Stock Unit Transactions	The following table sets forth restricted stock and restricted stock unit transactions for the six -month periods ended June 30, 2016 and 2015 (shares and units in thousands): Six Months Ended Six Months Ended Number of Shares and Units Weighted Average Grant Date Fair Value Number of Shares and Units Weighted Average Grant Date Fair Value Outstanding at January 1 4,908 $ 70.35 5,394 $ 64.39 Granted 306 75.56 456 88.29 Released (1) (798 ) 61.36 (593 ) 54.85 Forfeited (203 ) 76.97 (130 ) 74.13 Outstanding at June 30 (2) 4,213 $ 72.11 5,127 $ 67.37 (1) The total intrinsic value of restricted stock and restricted stock units released for the six months ended June 30, 2016 and 2015 was $60.8 million and $53.9 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date the restricted stock and restricted stock units are released. (2) The total intrinsic value of restricted stock and restricted stock units outstanding at June 30, 2016 and 2015 was $351.5 million and $448.9 million, respectively.

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Computation of Net Income (Loss) Per Share	The following table sets forth the computation of Net Income (Loss) Per Share for the three -month and six -month periods ended June 30, 2016 and 2015 (in thousands, except per share data): Three Months Ended Six Months Ended 2016 2015 2016 2015 Numerator for Basic and Diluted Earnings Per Share - Net Income (Loss) $ (292,558 ) $ 5,268 $ (764,334 ) $ (164,480 ) Denominator for Basic Earnings Per Share - Weighted Average Shares 547,335 545,504 547,029 545,245 Potential Dilutive Common Shares - Stock Options/SARs — 1,960 — — Restricted Stock/Units and Performance Units/Stock — 2,219 — — Denominator for Diluted Earnings Per Share - Adjusted Diluted Weighted Average Shares 547,335 549,683 547,029 545,245 Net Income (Loss) Per Share Basic $ (0.53 ) $ 0.01 $ (1.40 ) $ (0.30 ) Diluted $ (0.53 ) $ 0.01 $ (1.40 ) $ (0.30 )

Supplemental Cash Flow Inform21

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2016
Supplemental Cash Flow Information [Abstract]
Net Cash Paid For Interest and Income Taxes	Net cash paid for interest and income taxes was as follows for the six -month periods ended June 30, 2016 and 2015 (in thousands): Six Months Ended 2016 2015 Interest (1) $ 118,120 $ 102,114 Income Taxes, Net of Refunds Received $ (10,997 ) $ 49,565 (1) Net of capitalized interest of $17 million and $23 million for the six months ended June 30, 2016 and 2015 , respectively.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Selected Financial Information by Reportable Segment	Selected financial information by reportable segment is presented below for the three -month and six -month periods ended June 30, 2016 and 2015 (in thousands): Three Months Ended Six Months Ended 2016 2015 2016 2015 Net Operating Revenues United States $ 1,704,320 $ 2,369,319 $ 2,983,989 $ 4,581,901 Trinidad 62,731 95,703 125,524 192,265 Other International (1) 8,689 4,679 20,576 14,073 Total $ 1,775,740 $ 2,469,701 $ 3,130,089 $ 4,788,239 Operating Income (Loss) United States $ (280,593 ) $ 20,232 $ (905,577 ) $ (161,624 ) Trinidad 17,054 45,907 25,932 92,887 Other International (1) (24,634 ) (26,513 ) (46,669 ) (64,632 ) Total (288,173 ) 39,626 (926,314 ) (133,369 ) Reconciling Items Other Income (Expense), Net (20,996 ) 9,380 (25,433 ) (611 ) Interest Expense, Net (71,108 ) (60,484 ) (139,498 ) (113,829 ) Loss Before Income Taxes $ (380,277 ) $ (11,478 ) $ (1,091,245 ) $ (247,809 ) (1) Other International primarily includes EOG's United Kingdom, China, Canada and Argentina operations.
Assets by Reportable Segment	Total assets by reportable segment are presented below at June 30, 2016 and December 31, 2015 (in thousands): At June 30, 2016 At December 31, 2015 Total Assets United States $ 24,300,025 $ 25,347,134 Trinidad 871,072 886,826 Other International (1) 659,441 736,510 Total $ 25,830,538 $ 26,970,470 (1) Other International primarily consists of EOG's United Kingdom, China, Canada and Argentina operations.

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	6 Months Ended
	Jun. 30, 2016
Asset Retirement Obligation [Abstract]
Asset Retirement Obligation Rollforward Analysis	The following table presents the reconciliation of the beginning and ending aggregate carrying amounts of short-term and long-term legal obligations associated with the retirement of property, plant and equipment for the six -month periods ended June 30, 2016 and 2015 (in thousands): Six Months Ended 2016 2015 Carrying Amount at Beginning of Period $ 811,554 $ 752,718 Liabilities Incurred 18,258 19,990 Liabilities Settled (1) (18,043 ) (9,891 ) Accretion 16,521 15,815 Revisions (635 ) 18,156 Foreign Currency Translations (6,745 ) (1,009 ) Carrying Amount at End of Period $ 820,910 $ 795,779 Current Portion $ 8,349 $ 10,993 Noncurrent Portion $ 812,561 $ 784,786 (1) Includes settlements related to asset sales.

Exploratory Well Costs (Tables)

Exploratory Well Costs (Tables)	6 Months Ended
	Jun. 30, 2016
Capitalized Exploratory Well Costs [Abstract]
Net Changes In Capitalized Exploratory Well Costs	EOG's net changes in capitalized exploratory well costs for the six -month period ended June 30, 2016 , are presented below (in thousands): Six Months Ended Balance at January 1 $ 8,955 Additions Pending the Determination of Proved Reserves 6,688 Reclassifications to Proved Properties — Costs Charged to Expense — Balance at June 30 $ 15,643

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value Assets and Liabilities Measured On Recurring Basis	The following table provides fair value measurement information within the fair value hierarchy for certain of EOG's financial assets and liabilities carried at fair value on a recurring basis at June 30, 2016 . There were no such amounts outstanding at December 31, 2015. Amounts shown in millions. Fair Value Measurements Using: Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total At June 30, 2016 Financial Liabilities Natural Gas Price Swaps (1) $ — $ 1 $ — $ 1 (1) Balance at June 30, 2016, included in "Current Liabilities - Liabilities From Price Risk Management Activities" on the Consolidated Balance Sheets.

Risk Management Activities (Tab

Risk Management Activities (Tables)	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Commodity Derivative Contracts - Natural Gas	Presented below is a comprehensive summary of EOG's natural gas derivative contracts at June 30, 2016 , with notional volumes expressed in million British thermal units (MMBtu) per day (MMBtud) and prices expressed in dollars per MMBtu ($/MMBtu). Natural Gas Derivative Contracts Volume (MMBtud) Weighted Average Price ($/MMBtu) 2016 March 1, 2016 through July 31, 2016 (closed) 60,000 $ 2.49 August 2016 60,000 2.49

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Details) $ in Millions	Dec. 31, 2015USD ($)
Accounting Policies [Abstract]
Debt Issuance Costs, Net	$ 4.8

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Stock Options/SARs and Employee Stock Purchase Plan (ESPP) Disclosures [Line Items]
Stock-based compensation expense related to stock options, SAR and ESPP grants		$ 13	$ 11.7	$ 26.2	$ 23.3
Share-Based Compensation Arrangement By Share Based Payment Award Stock Option/SARs, ESPP, Restricted Stock/Units and Performance Units/Stock [Abstract]
Common Shares Available for Grant		24,500,000		24,500,000
Compensation expense related to the company's stock-based compensation plans		$ 27.1	$ 28.6	$ 59.5	$ 61.7
Stock Options and SARs [Member]
Weighted Average Fair Values And Valuation Assumptions Used To Value Stock Option/SARs, ESPP, and Performance Units/Stock Stock-Based Compensation [Abstract]
Weighted Average Fair Value of Grants (price per share)				$ 21.04	$ 29.78
Expected Volatility (in hundredths)				35.90%	38.93%
Risk-Free Interest Rate (in hundredths)				0.93%	0.82%
Dividend Yield (in hundredths)				0.91%	0.73%
Expected Life (in years)				5 years 3 months 18 days	5 years 3 months 18 days
Stock Options and SARs Rollforward [Abstract]
Outstanding at January 1 (in shares)				10,744,000	10,493,000
Granted (in shares)				11,000	39,000
Exercised (1) (in shares)	[1]			(790,000)	(885,000)
Forfeited (in shares)				(150,000)	(177,000)
Outstanding at June 30 (2) (in shares)	[2]	9,815,000	9,470,000	9,815,000	9,470,000
Share-Based Compensation Arrangement By Share Based Payment Award Stock Option/SARs, ESPP, Restricted Stock/Units and Performance Units/Stock [Abstract]
Outstanding at January 1 (price per share)				$ 67.98	$ 64.96
Granted (price per share)				71.51	92.37
Exercised (1) (price per share)	[1]			44.31	48.30
Forfeited (price per share)				85.91	79.43
Outstanding at June 30 (2) (price per share)	[2]	$ 69.61	$ 66.36	$ 69.61	$ 66.36
Stock Options and SARs Vested or Expected to Vest (in shares)	[3]	9,490,000	8,987,000	9,490,000	8,987,000
Weighted average grant price for stock options/SARs vested or expected to vest (price per share)	[3]	$ 69.24	$ 65.56	$ 69.24	$ 65.56
Stock Options and SARs Exercisable at June 30 (in shares)	[4]	5,638,000	4,635,000	5,638,000	4,635,000
Stock Options and SARs Exercisable at June 30 (price per share)	[4]	$ 61.50	$ 50.92	$ 61.50	$ 50.92
Unrecognized compensation expense		$ 76		$ 76
Weighted average period over which unrecognized compensation expense will be recognized (in years)				2 years 3 months 18 days
ESPP [Member]
Weighted Average Fair Values And Valuation Assumptions Used To Value Stock Option/SARs, ESPP, and Performance Units/Stock Stock-Based Compensation [Abstract]
Weighted Average Fair Value of Grants (price per share)				$ 17.56	$ 23.39
Expected Volatility (in hundredths)				36.79%	37.47%
Risk-Free Interest Rate (in hundredths)				0.49%	0.11%
Dividend Yield (in hundredths)				0.82%	0.72%
Expected Life (in years)				6 months	6 months
Restricted Stock And Restricted Stock Units [Member]
Share-Based Compensation Arrangement By Share Based Payment Award Stock Option/SARs, ESPP, Restricted Stock/Units and Performance Units/Stock [Abstract]
Unrecognized compensation expense		137.8		$ 137.8
Compensation expense related to the company's stock-based compensation plans		$ 13.7	$ 16.5	$ 32.4	$ 37.7
Weighted average period over which unrecognized compensation expense will be recognized (in years)				2 years 3 months 18 days
Restricted Stock/Restricted Stock Units and Performance Units/Performance Stock [Roll Forward]
Outstanding at January 1 (in shares)				4,908,000	5,394,000
Granted (in shares)				306,000	456,000
Released (1) (in shares)	[5]			(798,000)	(593,000)
Forfeited (in shares)				(203,000)	(130,000)
Outstanding at June 30 (2) (in shares)	[6]	4,213,000	5,127,000	4,213,000	5,127,000
Weighted Average Grant Price Restricted Stock and Restricted Stock Units/Performance Units and Performance Stock [Roll Forward]
Outstanding at January 1 (price per share)				$ 70.35	$ 64.39
Granted (price per share)				75.56	88.29
Released (1) (price per share)	[5]			61.36	54.85
Forfeited (price per share)				76.97	74.13
Outstanding at June 30 (2) (price per share)	[6]	$ 72.11	$ 67.37	$ 72.11	$ 67.37
Performance Shares [Member]
Share-Based Compensation Arrangement By Share Based Payment Award Stock Option/SARs, ESPP, Restricted Stock/Units and Performance Units/Stock [Abstract]
Unrecognized compensation expense		$ 5.1		$ 5.1
Compensation expense related to the company's stock-based compensation plans		$ 0.4	$ 0.4	$ 0.9	$ 0.7
Weighted average period over which unrecognized compensation expense will be recognized (in years)				2 years 9 months 18 days
Restricted Stock/Restricted Stock Units and Performance Units/Performance Stock [Roll Forward]
Outstanding at January 1 (in shares)				405,000
Granted (in shares)				142,556
Released (1) (in shares)				(134,016)
Outstanding at June 30 (2) (in shares)		413,540		413,540
Weighted Average Grant Price Restricted Stock and Restricted Stock Units/Performance Units and Performance Stock [Roll Forward]
Intrinsic value of stock and units released during the year				$ 9.7
Performance Units and Performance Stock [Abstract]
Minimum Performance Units and Stock Allowed to be Outstanding		151,096		151,096
Maximum Performance Units and Stock Allowed to be Outstanding		675,984		675,984
Maximum Vest Period from the Date of Grant				5 years
Performance Period for Performance units and shares				3 years
Minimum Performance Multiple at the Completion of the Performance Period				0.00%
Maximum Performance Multiple at the Completion of the Performance Period				200.00%
Lease And Well [Member]
Share-Based Compensation Arrangement By Share Based Payment Award Stock Option/SARs, ESPP, Restricted Stock/Units and Performance Units/Stock [Abstract]
Compensation expense related to the company's stock-based compensation plans		$ 8.9	10.5	$ 19.3	22.6
Gathering And Processing Costs [Member]
Share-Based Compensation Arrangement By Share Based Payment Award Stock Option/SARs, ESPP, Restricted Stock/Units and Performance Units/Stock [Abstract]
Compensation expense related to the company's stock-based compensation plans		0.3	0.3	0.6	0.6
Exploration Costs [Member]
Share-Based Compensation Arrangement By Share Based Payment Award Stock Option/SARs, ESPP, Restricted Stock/Units and Performance Units/Stock [Abstract]
Compensation expense related to the company's stock-based compensation plans		5	5.9	11.5	13.3
General And Administrative [Member]
Share-Based Compensation Arrangement By Share Based Payment Award Stock Option/SARs, ESPP, Restricted Stock/Units and Performance Units/Stock [Abstract]
Compensation expense related to the company's stock-based compensation plans		$ 12.9	$ 11.9	$ 28.1	$ 25.2
[1]	The total intrinsic value of stock options/SARs exercised for the six months ended June 30, 2016 and 2015 was $26.8 million and $39.1 million, respectively. The intrinsic value is based upon the difference between the market price of EOG's common stock on the date of exercise and the grant price of the stock options/SARs.
[2]	The total intrinsic value of stock options/SARs outstanding at June 30, 2016 and 2015 was $173.1 million and $229.5 million, respectively. At June 30, 2016 and 2015, the weighted average remaining contractual life was 3.6 years and 3.9 years, respectively.
[3]	The total intrinsic value of stock options/SARs vested or expected to vest at June 30, 2016 and 2015 was $170.3 million and $223.6 million, respectively. At June 30, 2016 and 2015, the weighted average remaining contractual life was 3.6 years and 3.9 years, respectively.
[4]	The total intrinsic value of stock options/SARs exercisable at June 30, 2016 and 2015 was $137.7 million and $170.9 million, respectively. At June 30, 2016 and 2015, the weighted average remaining contractual life was 2.4 years and 2.6 years, respectively.
[5]	The total intrinsic value of restricted stock and restricted stock units released for the six months ended June 30, 2016 and 2015 was $60.8 million and $53.9 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date the restricted stock and restricted stock units are released.
[6]	The total intrinsic value of restricted stock and restricted stock units outstanding at June 30, 2016 and 2015 was $351.5 million and $448.9 million, respectively.

Net Income (Loss) Per Share (De

Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Numerator for Basic and Diluted Earnings Per Share - [Abstract]
Net Income (Loss)	$ (292,558)	$ 5,268	$ (764,334)	$ (164,480)
Denominator for Basic Earnings Per Share - [Abstract]
Weighted Average Shares	547,335,000	545,504,000	547,029,000	545,245,000
Potential Dilutive Common Shares -[Abstract]
Stock Options/SARs	0	1,960,000	0	0
Restricted Stock/Units and Performance Units/Stock	0	2,219,000	0	0
Denominator for Diluted Earnings Per Share - [Abstract]
Adjusted Diluted Weighted Average Shares	547,335,000	549,683,000	547,029,000	545,245,000
Net Income (Loss) Per Share [Abstract]
Basic	$ (0.53)	$ 0.01	$ (1.40)	$ (0.30)
Diluted	$ (0.53)	$ 0.01	$ (1.40)	$ (0.30)
Earnings Per Share, Diluted, Other Disclosures [Abstract]
Anti-dilutive Stock Options and SARs excluded from Diluted Earnings Per Share Calculation	10,200,000	2,000,000	10,400,000	10,000,000
Restricted Stock and Restricted Stock Units and Performance Units and Performance Stock Excluded from Calculation	4,600,000	0	4,600,000	5,500,000

Supplemental Cash Flow Inform30

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015
Supplemental Cash Flow Information [Abstract]
Interest (1)	[1]	$ 118,120	$ 102,114
Income Taxes, Net of Refunds Received		(10,997)	49,565
Accrued Capital Expenditures		$ 371,000	$ 777,000
[1]	Net of capitalized interest of $17 million and $23 million for the six months ended June 30, 2016 and 2015, respectively.

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Schedule of Segment Reporting Information By Segment [Abstract]
Net Operating Revenues		$ 1,775,740	$ 2,469,701	$ 3,130,089	$ 4,788,239
Operating Income (Loss)		(288,173)	39,626	(926,314)	(133,369)
Other Income (Expense), Net		(20,996)	9,380	(25,433)	(611)
Interest Expense, Net		(71,108)	(60,484)	(139,498)	(113,829)
Loss Before Income Taxes		(380,277)	(11,478)	(1,091,245)	(247,809)
Total Assets		25,830,538		25,830,538		$ 26,970,470
United States [Member]
Schedule of Segment Reporting Information By Segment [Abstract]
Net Operating Revenues		1,704,320	2,369,319	2,983,989	4,581,901
Operating Income (Loss)		(280,593)	20,232	(905,577)	(161,624)
Total Assets		24,300,025		24,300,025		25,347,134
Trinidad [Member]
Schedule of Segment Reporting Information By Segment [Abstract]
Net Operating Revenues		62,731	95,703	125,524	192,265
Operating Income (Loss)		17,054	45,907	25,932	92,887
Total Assets		871,072		871,072		886,826
Other International [Member]
Schedule of Segment Reporting Information By Segment [Abstract]
Net Operating Revenues	[1]	8,689	4,679	20,576	14,073
Operating Income (Loss)	[1]	(24,634)	$ (26,513)	(46,669)	$ (64,632)
Total Assets	[1]	$ 659,441		$ 659,441		$ 736,510
[1]	Other International primarily includes EOG's United Kingdom, China, Canada and Argentina operations.

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015
Asset Retirement Obligation [Abstract]
Carrying Amount at Beginning of Period		$ 811,554	$ 752,718
Liabilities Incurred		18,258	19,990
Liabilities Settled (1)	[1]	(18,043)	(9,891)
Accretion		16,521	15,815
Revisions		(635)	18,156
Foreign Currency Translations		(6,745)	(1,009)
Carrying Amount at End of Period		820,910	795,779
Current Portion		8,349	10,993
Noncurrent Portion		$ 812,561	$ 784,786
[1]	Includes settlements related to asset sales.

Exploratory Well Costs (Details

Exploratory Well Costs (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
CapitalizedExploratoryWellCostsAbstract [Line Items]
Balance at January 1	$ 8,955
Additions Pending the Determination of Proved Reserves	6,688
Reclassifications to Proved Properties	0
Costs Charged to Expense	0
Balance at June 30	$ 15,643

Pension and Postretirement Be34

Pension and Postretirement Benefits (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Defined Benefit and Defined Contribution Plan Disclosure [Line Items]
Total pension plan costs	$ 17.2	$ 18.4

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Line of Credit Facility [Line Items]
Weighted average interest rate (in hundredths)	0.76%
Uncommitted Credit Facility [Member]
Line of Credit Facility [Line Items]
Borrowings Outstanding	$ 0	$ 0
Commercial Paper [Member]
Line of Credit Facility [Line Items]
Borrowings Outstanding	0	$ 0
Average Outstanding Amount	210,000,000
Revolving Credit Agreement 2020 [Member]
Line of Credit Facility [Line Items]
Borrowings Outstanding	$ 0
Line of Credit Facility, Expiration Date	Jul. 21, 2020
Letter of Credit Facility Current Maximum Capacity	$ 2,000,000,000
Eurodollar rate at period end (in hundredths)	1.47%
Base rate at period end (in hundredths)	3.50%
2.500% Senior Notes Due 2016 [Member]
Debt Instrument [Abstract]
Debt Instrument Issuance Face Amount	$ 400,000,000
Debt Instrument Issuance Interest Rate	2.50%
Debt Instrument, Maturity Date	Feb. 1, 2016
the Notes due 2026 [Member]
Debt Instrument [Abstract]
Debt Instrument Issuance Face Amount	$ 750,000,000
Debt Instrument, Issuance Date	Jan. 14, 2016
Debt Instrument Issuance Interest Rate	4.15%
the Notes due 2036 [Member]
Debt Instrument [Abstract]
Debt Instrument Issuance Face Amount	$ 250,000,000
Debt Instrument Issuance Interest Rate	5.10%
the Notes [Member]
Debt Instrument [Abstract]
Net proceeds from Issuance of Senior Long-Term Debt	$ 991,000,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)		Jun. 30, 2016	Dec. 31, 2015
Financial Assets:
Financial Assets: Natural Gas Price Swaps			$ 0
Financial Liabilities:
Financial Liabilities: Natural Gas Price Swaps		$ 1,300,000
Debt Disclosure [Abstract]
Estimated Fair Value of Debt		7,418,000,000	6,524,000,000
Aggregate Principal Amount of Current and Long-Term Debt		6,990,000,000	6,390,000,000
Fair Value, Inputs, Level 1 [Member]
Financial Assets:
Financial Assets: Natural Gas Price Swaps			0
Financial Liabilities:
Financial Liabilities: Natural Gas Price Swaps		0
Fair Value, Inputs, Level 2 [Member]
Financial Assets:
Financial Assets: Natural Gas Price Swaps			0
Financial Liabilities:
Financial Liabilities: Natural Gas Price Swaps	[1]	1,000,000
Fair Value, Inputs, Level 3 [Member]
Financial Assets:
Financial Assets: Natural Gas Price Swaps			$ 0
Financial Liabilities:
Financial Liabilities: Natural Gas Price Swaps		$ 0
[1]	Balance at June 30, 2016, included in "Current Liabilities - Liabilities From Price Risk Management Activities" on the Consolidated Balance Sheets.

Risk Management Activities (Det

Risk Management Activities (Details)	6 Months Ended
	Jun. 30, 2016USD ($)$ / MMBTUMMBTU	Dec. 31, 2015USD ($)
Derivatives, Fair Value [Line Items]
Derivative Liability	$ 1,300,000
Derivative Liabilities, Current	1,315,000	$ 0
Derivative Collateral [Abstract]
Collateral Held on Derivative	0	0
Collateral Had on Derivaitve	$ 0	$ 0
Natural Gas Derivative Contracts March - July (closed) [Member]
Derivatives, Fair Value [Line Items]
Volume (MMBtud) | MMBTU	60,000
Derivative Weighted Average Price Natural Gas ($/MMBtu) | $ / MMBTU	2.49
Natural Gas Derivative Contracts August [Member]
Derivatives, Fair Value [Line Items]
Volume (MMBtud) | MMBTU	60,000
Derivative Weighted Average Price Natural Gas ($/MMBtu) | $ / MMBTU	2.49

Divestitures (Details)

Divestitures (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Proceeds from Sales of Producing Properties, Acreage and Other Assets	$ 253	$ 116
Book Value of Assets Held for Sale	92
Book Value of Liabilities Related to Assets Held for Sale	$ 23