EOG Resources (EOG) 10-Q 6 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Mar. 31, 2021	Apr. 29, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	1-9743
Entity Registrant Name	EOG RESOURCES, INC.
Entity Central Index Key	0000821189
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-0684736
Entity Address, Address Line One	1111 Bagby
Entity Address, Address Line Two	Sky Lobby 2
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77002
City Area Code	713
Local Phone Number	651-7000
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	EOG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		583,605,122

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating Revenues and Other
Total	$ 3,694,000,000	$ 4,718,000,000
Operating Expenses
Lease and Well	270,000,000	330,000,000
Transportation Costs	202,000,000	208,000,000
Gathering and Processing Costs	139,000,000	128,000,000
Exploration Costs	33,000,000	40,000,000
Dry Hole Costs	11,000,000	0
Impairments	44,000,000	1,573,000,000
Marketing Costs	838,000,000	1,110,000,000
Depreciation, Depletion and Amortization	900,000,000	1,000,000,000
General and Administrative	110,000,000	114,000,000
Taxes Other Than Income	215,000,000	157,000,000
Total	2,762,000,000	4,660,000,000
Operating Income	932,000,000	58,000,000
Other Income (Expense), Net	(4,000,000)	18,000,000
Income Before Interest Expense and Income Taxes	928,000,000	76,000,000
Interest Expense
Interest Expense, Net	47,000,000	45,000,000
Income Before Income Taxes	881,000,000	31,000,000
Income Tax Provision	204,000,000	21,000,000
Net Income	$ 677,000,000	$ 10,000,000
Net Income Per Share
Basic	$ 1.17	$ 0.02
Diluted	$ 1.16	$ 0.02
Average Number of Common Shares
Basic	580	578
Diluted	583	580
Other Comprehensive Income (Loss)
Foreign Currency Translation Adjustments	$ (2,000,000)	$ 2,000,000
Other, Net of Tax	0	0
Other Comprehensive Income (Loss)	(2,000,000)	2,000,000
Comprehensive Income	675,000,000	12,000,000
Crude Oil and Condensate
Operating Revenues and Other
Revenues	2,251,000,000	2,065,000,000
Natural Gas Liquids
Operating Revenues and Other
Revenues	314,000,000	161,000,000
Natural Gas
Operating Revenues and Other
Revenues	625,000,000	210,000,000
Gains (Losses) on Mark-to-Market Commodity Derivative Contracts
Operating Revenues and Other
Revenues	(367,000,000)	1,206,000,000
Gathering, Processing and Marketing
Operating Revenues and Other
Revenues	848,000,000	1,039,000,000
Gains (Losses) on Asset Dispositions, Net
Operating Revenues and Other
Revenues	(6,000,000)	16,000,000
Other, Net
Operating Revenues and Other
Revenues	$ 29,000,000	$ 21,000,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Current Assets
Cash and Cash Equivalents	$ 3,388,000,000	$ 3,329,000,000
Accounts Receivable, Net	1,828,000,000	1,522,000,000
Inventories	562,000,000	629,000,000
Assets from Price Risk Management Activities	0	65,000,000
Income Taxes Receivable	0	23,000,000
Other	413,000,000	294,000,000
Total	6,191,000,000	5,862,000,000
Property, Plant and Equipment
Oil and Gas Properties (Successful Efforts Method)	65,645,000,000	64,793,000,000
Other Property, Plant and Equipment	4,590,000,000	4,479,000,000
Total Property, Plant and Equipment	70,235,000,000	69,272,000,000
Less: Accumulated Depreciation, Depletion and Amortization	(41,569,000,000)	(40,673,000,000)
Total Property, Plant and Equipment, Net	28,666,000,000	28,599,000,000
Deferred Income Tax Assets, Net	4,000,000	2,000,000
Other Assets	1,310,000,000	1,342,000,000
Total Assets	36,171,000,000	35,805,000,000
Current Liabilities
Accounts Payable	1,945,000,000	1,681,000,000
Accrued Taxes Payable	449,000,000	206,000,000
Dividends Payable	239,000,000	217,000,000
Liabilities from Price Risk Management Activities	188,000,000	0
Current Portion of Long-Term Debt	39,000,000	781,000,000
Current Portion of Operating Lease Liabilities	269,000,000	295,000,000
Other	183,000,000	280,000,000
Total	3,312,000,000	3,460,000,000
Long-Term Debt	5,094,000,000	5,035,000,000
Other Liabilities	2,178,000,000	2,149,000,000
Deferred Income Tax Liabilities, Net	4,825,000,000	4,859,000,000
Commitments and Contingencies (Note 8)
Stockholders' Equity
Common Stock, $0.01 Par, 1,280,000,000 Shares Authorized and 583,843,561 Shares Issued at March 31, 2021 and 583,694,850 Shares Issued at December 31, 2020	206,000,000	206,000,000
Additional Paid in Capital	5,979,000,000	5,945,000,000
Accumulated Other Comprehensive Loss	(14,000,000)	(12,000,000)
Retained Earnings	14,606,000,000	14,170,000,000
Common Stock Held in Treasury, 232,249 Shares at March 31, 2021 and 124,265 Shares at December 31, 2020	(15,000,000)	(7,000,000)
Total Stockholders' Equity	20,762,000,000	20,302,000,000
Total Liabilities and Stockholders' Equity	$ 36,171,000,000	$ 35,805,000,000
Common Stock, Par Value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Shares Authorized (in shares)	1,280,000,000	1,280,000,000
Common Stock, Shares Issued (in shares)	583,843,561	583,694,850
Treasury Stock, Shares	232,249	124,265

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Common Stock
Common Stock, Par Value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Shares Authorized (in shares)	1,280,000,000	1,280,000,000
Common Stock, Shares Issued (in shares)	583,843,561	583,694,850
Treasury Stock
Treasury Stock, Shares	232,249	124,265

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity Statement - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Treasury Stock [Member]
Balance at Dec. 31, 2019	$ 21,640	$ 206	$ 5,817	$ (5)	$ 15,649	$ (27)
Net Income	10	0	0	0	10	0
Dividends, Common Stock	(219)	0	0	0	(219)	0
Other Comprehensive Loss	2	0	0	2	0	0
Change in Treasury Stock - Stock Compensation Plans, Net	(4)	0	0	0	0	(4)
Restricted Stock and Restricted Stock Units, Net	0	0	(4)	0	0	4
Stock-Based Compensation Expenses	40	0	40	0	0	0
Treasury Stock Issued as Compensation	2	0	0	0	0	2
Balance at Mar. 31, 2020	$ 21,471	206	5,853	(3)	15,440	(25)
Common Stock Dividends Declared (in dollars per share)	$ 0.375
Balance at Dec. 31, 2019	$ 21,640	206	5,817	(5)	15,649	(27)
Balance at Dec. 31, 2020	$ 20,302	206	5,945	(12)	14,170	(7)
Common Stock Dividends Declared (in dollars per share)	$ 0.375
Net Income	$ 677	0	0	0	677	0
Dividends, Common Stock	(241)	0	0	0	(241)	0
Other Comprehensive Loss	(2)	0	0	(2)	0	0
Change in Treasury Stock - Stock Compensation Plans, Net	(9)	0	0	0	0	(9)
Restricted Stock and Restricted Stock Units, Net	0	0	(1)	0	0	1
Stock-Based Compensation Expenses	35	0	35	0	0	0
Treasury Stock Issued as Compensation	0	0	0	0	0	0
Balance at Mar. 31, 2021	$ 20,762	$ 206	$ 5,979	$ (14)	$ 14,606	$ (15)
Common Stock Dividends Declared (in dollars per share)	$ 0.4125

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Millions	May 06, 2021	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Statement of Stockholders' Equity [Abstract]
Common Stock Dividends Declared		$ 241	$ 219
Common Stock Dividends Declared (in dollars per share)	$ 1	$ 0.4125	$ 0.375	$ 0.375

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flows from Operating Activities
Net Income	$ 677	$ 10
Items Not Requiring (Providing) Cash
Depreciation, Depletion and Amortization	900	1,000
Impairments	44	1,573
Stock-Based Compensation Expenses	35	40
Deferred Income Taxes	(36)	45
Gains (Losses) on Asset Dispositions, Net	(6)	16
Other, Net	7	(9)
Dry Hole Costs	11	0
Total (Gains) Losses	367	(1,206)
Net Cash Received from (Payments for) Settlements of Commodity Derivative Contracts	(30)	84
Mark-to-Market Commodity Derivative Contracts
Other, Net	1	0
Changes in Components of Working Capital and Other Assets and Liabilities
Accounts Receivable	(308)	722
Inventories	64	103
Accounts Payable	172	434
Accrued Taxes Payable	243	(55)
Other Assets	(103)	58
Other Liabilities	(89)	(66)
Changes in Components of Working Capital Associated with Investing and Financing Activities	(91)	(132)
Net Cash Provided by Operating Activities	1,870	2,585
Investing Cash Flows
Additions to Oil and Gas Properties	(875)	(1,566)
Additions to Other Property, Plant and Equipment	(42)	(123)
Proceeds from Sales of Assets	5	26
Changes in Components of Working Capital Associated with Investing Activities	91	132
Net Cash Used in Investing Activities	(821)	(1,531)
Financing Cash Flows
Long-Term Debt Repayments	(750)	0
Dividends Paid	(219)	(167)
Treasury Stock Purchased	(10)	(5)
Repayment of Finance Lease Liabilities	(9)	(3)
Net Cash Used in Financing Activities	(988)	(175)
Effect of Exchange Rate Changes on Cash	(2)	0
Increase in Cash and Cash Equivalents	59	879
Cash and Cash Equivalents at End of Period	3,388	2,907
Cash and Cash Equivalents at Beginning of Period	$ 3,329	$ 2,028

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies General. The condensed 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 condensed 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, 2020, filed on February 25, 2021 (EOG's 2020 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 months ended March 31, 2021, are not necessarily indicative of the results to be expected for the full year. Effective January 1, 2021, EOG adopted the provisions of Accounting Standards Update (ASU) 2019-12, "Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes" (ASU 2019-12). ASU 2019-12 amends certain aspects of accounting for income taxes, including the removal of specific exceptions within existing U.S. GAAP related to the incremental approach for intraperiod tax allocation and updates to the general methodology for calculating income taxes in interim periods, among other changes. ASU 2019-12 also requires an entity to reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date, among other requirements. The effects of ASU 2019-12 applicable to EOG were all required on a prospective basis. There was no impact upon adoption of ASU 2019-12 to its consolidated financial statements or related disclosures. Recently Issued Accounting Standards. In March 2020, the Financial Accounting Standards Board (FASB) issued ASU 2020-04, "Reference Rate Reform (Topic 848)" (ASU 2020-04), which provides optional expedients and exceptions for accounting treatment of contracts which are affected by the anticipated discontinuation of the London InterBank Offered Rate (LIBOR) and other rates resulting from rate reform. Contract terms that are modified due to the replacement of a reference rate are not required to be remeasured or reassessed under relevant accounting standards. Early adoption is permitted. ASU 2020-04 covers certain contracts which reference these rates and that are entered into on or before December 31, 2022. EOG is evaluating the provisions of ASU 2020-04 and has not determined the full impact on its consolidated financial statements and related disclosures related to its $2.0 billion senior unsecured Revolving Credit Agreement.

Stock-Based Payments

Stock-Based Payments	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation As more fully discussed in Note 7 to the Consolidated Financial Statements included in EOG's 2020 Annual Report, EOG maintains various stock-based compensation plans. Stock-based compensation expense is included on the Condensed 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 2021 2020 Lease and Well $ 14 $ 15 Gathering and Processing Costs — — Exploration Costs 6 7 General and Administrative 15 18 Total $ 35 $ 40 The Amended and Restated EOG Resources, Inc. 2008 Omnibus Equity Compensation Plan (2008 Plan) provided for grants of stock options, stock-settled stock appreciation rights (SARs), restricted stock and restricted stock units, performance units and other stock-based awards. At March 31, 2021, approximately 2 million common shares remained available for grant under the 2008 Plan. EOG's stockholders approved the EOG Resources, Inc. 2021 Omnibus Equity Compensation Plan (2021 Plan) at the 2021 Annual Meeting of Stockholders. Therefore, no further grants will be made from the 2008 Plan from and after the April 29, 2021 effective date of the 2021 Plan. The 2021 Plan provides for grants of stock options, SARs, restricted stock and restricted stock units and other stock-based awards, up to an aggregate maximum of 20 million shares of common stock, plus any shares that are subject to outstanding awards under the 2008 Plan as of April 29, 2021, that are subsequently canceled, forfeited, expire or are otherwise not issued or are settled in cash. Under the 2021 Plan, grants may be made to employees and non-employee members of EOG's Board of Directors (Board). EOG's policy is to issue shares related to 2021 Plan grants 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 $10 million and $14 million during the three months ended March 31, 2021 and 2020, respectively. Weighted average fair values and valuation assumptions used to value stock option, SAR and ESPP grants during the three-month periods ended March 31, 2021 and 2020 are as follows: Stock Options/SARs ESPP Three Months Ended Three Months Ended 2021 2020 2021 2020 Weighted Average Fair Value of Grants $ 17.03 $ 19.67 $ 14.69 $ 20.80 Expected Volatility 47.18 % 33.43 % 54.99 % 35.24 % Risk-Free Interest Rate 0.28 % 1.43 % 0.09 % 1.56 % Dividend Yield 3.25 % 1.60 % 3.41 % 1.56 % Expected Life 5.2 years 5.0 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 three-month periods ended March 31, 2021 and 2020 (stock options and SARs in thousands): Three Months Ended Three Months Ended Number of Weighted Number of Weighted Outstanding at January 1 10,186 $ 84.08 9,395 $ 94.53 Granted 7 53.98 9 75.44 Exercised (1) (26) 63.25 (23) 69.59 Forfeited (103) 89.21 (47) 96.81 Outstanding at March 31 (2) 10,064 $ 84.06 9,334 $ 94.56 Vested or Expected to Vest (3) 9,749 $ 84.74 8,998 $ 94.55 Exercisable at March 31 (4) 6,288 $ 96.47 5,249 $ 94.33 (1) The total intrinsic value of stock options/SARs exercised during the three months ended March 31, 2021 and 2020 was $0.2 million and $0.4 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 March 31, 2021 and 2020 was $71 million and zero, respectively. At March 31, 2021 and 2020, the weighted average remaining contractual life was 4.0 years. (3) The total intrinsic value of stock options/SARs vested or expected to vest at March 31, 2021 and 2020 was $66 million and zero, respectively. At March 31, 2021 and 2020, the weighted average remaining contractual life was 4.0 years. (4) The total intrinsic value of stock options/SARs exercisable at March 31, 2021 and 2020 was $3 million and zero, respectively. At March 31, 2021 and 2020, the weighted average remaining contractual life was 3.0 years and 2.8 years, respectively. At March 31, 2021, unrecognized compensation expense related to non-vested stock option, SAR and ESPP grants totaled $47 million. Such unrecognized expense will be amortized on a straight-line basis over a weighted average period of 1.9 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 $24 million and $25 million for the three months ended March 31, 2021 and 2020, respectively. The following table sets forth restricted stock and restricted stock unit transactions for the three-month periods ended March 31, 2021 and 2020 (shares and units in thousands): Three Months Ended Three Months Ended Number of Weighted Number of Weighted Outstanding at January 1 4,742 $ 74.97 4,546 $ 90.16 Granted 12 60.27 26 63.48 Released (1) (430) 90.27 (259) 88.19 Forfeited (25) 71.16 (11) 89.86 Outstanding at March 31 (2) 4,299 $ 73.42 4,302 $ 90.12 (1) The total intrinsic value of restricted stock and restricted stock units released during the three months ended March 31, 2021 and 2020 was $31 million and $11 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 March 31, 2021 and 2020 was $312 million and $155 million, respectively. At March 31, 2021, unrecognized compensation expense related to restricted stock and restricted stock units totaled $153 million. Such unrecognized expense will be amortized on a straight-line basis over a weighted average period of 1.5 years. Performance Units. EOG grants performance units annually to its executive officers without cost to them. As more fully discussed in the grant agreements, the performance metric applicable to the performance units 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 units granted could be outstanding. The fair value of the performance units is estimated using a Monte Carlo simulation. Stock-based compensation expense related to the performance unit grants totaled $1 million for the each of the three months ended March 31, 2021 and 2020. The following table sets forth the performance unit transactions for the three-month periods ended March 31, 2021 and 2020 (units in thousands): Three Months Ended Three Months Ended Number of Weighted Number of Weighted Outstanding at January 1 613 $ 79.10 598 $ 92.19 Granted 8 49.86 — — Granted for Performance Multiple (1) 19 96.29 66 100.95 Released (2) (98) 96.29 (121) 104.69 Forfeited — — — — Outstanding at March 31 (3) 542 (4) $ 76.18 543 $ 90.48 (1) Upon completion of the Performance Period for the performance units granted in 2017 and 2016, a performance multiple of 125% and 150%, respectively, was applied to each of the grants resulting in additional grants of performance units in February 2021 and February 2020, respectively. (2) The total intrinsic value of performance units released during the three months ended March 31, 2021 and 2020 was $6 million and $9 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date the performance units are released. (3) The total intrinsic value of performance units outstanding at March 31, 2021 and 2020 was approximately $39 million and $20 million, respectively. (4) Upon the application of the relevant performance multiple at the completion of each of the remaining Performance Periods, a minimum of 76,785 and a maximum of 1,007,705 performance units could be outstanding. At March 31, 2021, unrecognized compensation expense related to performance units totaled $7 million. Such unrecognized expense will be amortized on a straight-line basis over a weighted average period of 1.9 years.

Net Income Per Share

Net Income Per Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share The following table sets forth the computation of Net Income Per Share for the three-month periods ended March 31, 2021 and 2020 (in millions, except per share data): Three Months Ended 2021 2020 Numerator for Basic and Diluted Earnings Per Share - Net Income $ 677 $ 10 Denominator for Basic Earnings Per Share - Weighted Average Shares 580 578 Potential Dilutive Common Shares - Stock Options/SARs/ESPP 1 — Restricted Stock/Units and Performance Units 2 2 Denominator for Diluted Earnings Per Share - Adjusted Diluted Weighted Average Shares 583 580 Net Income Per Share Basic $ 1.17 $ 0.02 Diluted $ 1.16 $ 0.02

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2021
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Net cash paid for interest and income taxes was as follows for the three-month periods ended March 31, 2021 and 2020 (in millions): Three Months Ended 2021 2020 Interest (1) $ 49 $ 47 Income Taxes, Net of Refunds Received $ 20 $ 15 (1) Net of capitalized interest of $8 million and $9 million for the three months ended March 31, 2021 and 2020, respectively. EOG's accrued capital expenditures at March 31, 2021 and 2020 were $436 million and $642 million, respectively. Non-cash investing activities for the three months ended March 31, 2021 and 2020, included additions of $25 million and $29 million, respectively, to EOG's oil and gas properties as a result of property exchanges. Non-cash investing activities for the three months ended March 31, 2021 and 2020

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information Selected financial information by reportable segment is presented below for the three-month periods ended March 31, 2021 and 2020 (in millions): Three Months Ended 2021 2020 Operating Revenues and Other United States $ 3,606 $ 4,661 Trinidad 76 42 Other International (1) 12 15 Total 3,694 4,718 Operating Income (Loss) United States (2) 890 105 Trinidad 43 13 Other International (1) (3) (1) (60) Total 932 58 Reconciling Items Other Income (Expense), Net (4) 18 Interest Expense, Net (47) (45) Income Before Income Taxes $ 881 $ 31 (1) Other International primarily consists of EOG's China and Canada operations. EOG began an exploration program in Oman in the third quarter of 2020. (2) EOG recorded pretax impairment charges of $1,456 million for the three months ended March 31, 2020, for proved oil and gas properties, leasehold costs and other assets due to the decline in commodity prices. (3) EOG recorded pretax impairment charges of $60 million for the three months ended March 31, 2020, for firm commitment contracts related to its decision to exit the Horn River Basin in British Columbia, Canada. Total assets by reportable segment are presented below at March 31, 2021 and December 31, 2020 (in millions): At At Total Assets United States $ 35,395 $ 35,048 Trinidad 586 546 Other International (1) 190 211 Total $ 36,171 $ 35,805

Asset Retirement Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2021
Asset Retirement Obligation [Abstract]
Asset Retirement Obligations	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 three-month periods ended March 31, 2021 and 2020 (in millions): Three Months Ended 2021 2020 Carrying Amount at January 1 $ 1,217 $ 1,111 Liabilities Incurred 12 15 Liabilities Settled (1) (5) (24) Accretion 11 11 Revisions 2 — Carrying Amount at March 31 $ 1,237 $ 1,113 Current Portion $ 49 $ 38 Noncurrent Portion $ 1,188 $ 1,075 (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 Condensed Consolidated Balance Sheets.

Exploratory Well Costs

Exploratory Well Costs	3 Months Ended
	Mar. 31, 2021
Capitalized Exploratory Well Costs [Abstract]
Exploratory Well Costs	Exploratory Well Costs EOG's net changes in capitalized exploratory well costs for the three-month period ended March 31, 2021, are presented below (in millions): Three Months Ended Balance at January 1 $ 29 Additions Pending the Determination of Proved Reserves 12 Reclassifications to Proved Properties (3) Costs Charged to Expense (1) (5) Balance at March 31 $ 33 (1) Includes capitalized exploratory well costs charged to either dry hole costs or impairments. Three Months Ended Capitalized exploratory well costs that have been capitalized for a period of one year or less $ 18 Capitalized exploratory well costs that have been capitalized for a period greater than one year (1) 15 Balance at March 31 $ 33 Number of exploratory wells that have been capitalized for a period greater than one year 1 (1) Consists of costs related to a project in Trinidad at March 31, 2021.

Commitment and Contingencies

Commitment and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesThere 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	3 Months Ended
	Mar. 31, 2021
Retirement Benefits [Abstract]
Pension and Postretirement Benefits	Pension and Postretirement Benefits Pension Plans. EOG has a defined contribution pension plan in place for most of its employees in the United States. EOG's contributions to the pension plan are based on various percentages of compensation and, in some instances, are based upon the amount of the employees' contributions. EOG's total costs recognized for the pension plan were $12 million and $9 million for the three months ended March 31, 2021 and 2020, respectively. In addition, EOG's Trinidadian subsidiary maintains a contributory defined benefit pension plan and a matched savings plan, both of which are available to most of its employees of the Trinidadian subsidiary, the costs of which are not material.

Long-Term Debt and Common Stock

Long-Term Debt and Common Stock	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Long-Term Debt and Common Stock	Long-Term Debt and Common Stock Long-Term Debt. EOG had no outstanding commercial paper borrowings at March 31, 2021 and December 31, 2020, and did not utilize any commercial paper borrowings during the three months ended March 31, 2021 and 2020. EOG currently has a $2.0 billion senior unsecured Revolving Credit Agreement (Agreement) with domestic and foreign lenders (Banks). The Agreement has a scheduled maturity date of June 27, 2024, 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. The Agreement (i) commits the Banks to provide advances up to an aggregate principal amount of $2.0 billion at any one time outstanding, with an option for EOG to request increases in the aggregate commitments to an amount not to exceed $3.0 billion, subject to certain terms and conditions and (ii) includes a swingline subfacility and a letter of credit subfacility. Advances under the Agreement will accrue interest based, at EOG's option, on either LIBOR plus an applicable margin (Eurodollar rate) or the base rate (as defined in the Agreement) plus an applicable margin. The Agreement contains representations, warranties, covenants and events of default that EOG believes are customary for investment-grade, senior unsecured commercial bank credit agreements, including a financial covenant for the maintenance of a ratio of total debt-to-capitalization (as such terms are defined in the Agreement) of no greater than 65%. At March 31, 2021, EOG was in compliance with this financial covenant. At March 31, 2021 and December 31, 2020, there were no borrowings or letters of credit outstanding under the Agreement. The Eurodollar rate and base rate (inclusive of the applicable margin), had there been any amounts borrowed under the Agreement at March 31, 2021, would have been 1.01% and 3.25%, respectively. On February 1, 2021, EOG repaid upon maturity the $750 million aggregate principal amount of its 4.100% Senior Notes due 2021. Common Stock. On February 25, 2021, EOG's Board increased the quarterly cash dividend on the common stock from the previous $0.375 per share to $0.4125 per share, effective beginning with the dividend paid on April 30, 2021, to stockholders of record as of April 16, 2021. In addition, on May 6, 2021, EOG's Board declared a special cash dividend on the common stock of $1.00 per share. The special cash dividend, which is in addition to the quarterly cash dividend, is payable on July 30, 2021 to stockholders of record as of July 16, 2021.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	As more fully discussed in Note 13 to the Consolidated Financial Statements included in EOG's 2020 Annual Report, certain of EOG's financial and nonfinancial assets and liabilities are reported at fair value on the Condensed 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 March 31, 2021 and December 31, 2020 (in millions): Fair Value Measurements Using: Quoted Significant Significant Total At March 31, 2021 Financial Assets: Natural Gas Swaps $ — $ 23 $ — $ 23 Financial Liabilities: Natural Gas Swaps — 5 — 5 Crude Oil Swaps — 175 — 175 Crude Oil Roll Differential Swaps — 20 — 20 Natural Gas Liquids Swaps — 18 — 18 At December 31, 2020 Financial Assets: Natural Gas Swaps $ — $ 66 $ — $ 66 Financial Liabilities: Crude Oil Roll Differential Swaps — 1 — 1 See Note 12 for the balance sheet amounts and classification of EOG's financial derivative instruments at March 31, 2021 and December 31, 2020. 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. Non-Recurring Fair Value Measurements. 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. When circumstances indicate that proved oil and gas properties may be impaired, EOG compares expected undiscounted future cash flows at a depreciation, depletion and amortization group level to the unamortized capitalized cost of the asset. If the expected undiscounted future cash flows, based on EOG's estimate of (and assumptions regarding) significant Level 3 inputs, including future crude oil, NGLs and natural gas prices, operating costs, development expenditures, anticipated production from proved reserves and other relevant data, are lower than the unamortized capitalized cost, the capitalized cost is reduced to fair value. Fair value is generally calculated using the Income Approach described in the Fair Value Measurement Topic of the ASC. In certain instances, EOG utilizes accepted offers from third-party purchasers as the basis for determining fair value. EOG utilized average prices per acre from comparable market transactions and estimated discounted cash flows as the basis for determining the fair value of unproved and proved properties, respectively, received in non-cash property exchanges. See Note 4. Fair Value Disclosures. EOG's financial instruments, other than commodity derivative contracts, consist of cash and cash equivalents, accounts receivable, accounts payable and current and long-term debt. The carrying values of cash and cash equivalents, accounts receivable and accounts payable approximate fair value. At March 31, 2021 and December 31, 2020, respectively, EOG had outstanding $4,890 million and $5,640 million aggregate principal amount of senior notes, which had estimated fair values at such dates of approximately $5,478 million and $6,505 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	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Risk Management Activities	Risk Management Activities Commodity Price Risk . As more fully discussed in Note 12 to the Consolidated Financial Statements included in EOG's 2020 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, NGLs 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 financial commodity derivative contracts as of March 31, 2021. Crude oil and NGL volumes are presented in thousand barrels per day (MBbld) and prices are presented in dollars per barrel ($/Bbl). Natural gas volumes are presented in million British Thermal Units per day (MMBtud) and prices are presented in dollars per million British Thermal Units ($/MMBtu). Crude Oil Financial Price Swap Contracts Contracts Sold Period Settlement Index Volume Weighted Average Price January 2021 (closed) New York Mercantile Exchange (NYMEX) West Texas Intermediate (WTI) 151 $ 50.06 February - March 2021 (closed) NYMEX WTI 201 51.29 April - June 2021 NYMEX WTI 150 51.68 July - September 2021 NYMEX WTI 150 52.71 Crude Oil Basis Swap Contracts Contracts Sold Period Settlement Index Volume Weighted Average Price Differential February 2021 (closed) NYMEX WTI Roll Differential (1) 30 $ 0.11 March - April 2021 (closed) NYMEX WTI Roll Differential (1) 125 0.17 May - December 2021 NYMEX WTI Roll Differential (1) 125 0.17 January - December 2022 NYMEX WTI Roll Differential (1) 125 0.15 _________________ (1) This settlement index is used to fix the differential in pricing between the NYMEX calendar month average and the physical crude oil delivery month. NGL Financial Price Swap Contracts Contracts Sold Period Settlement Index Volume Weighted Average Price January - March 2021 (closed) Mont Belvieu Propane (non-Tet) 15 $ 29.44 April - December 2021 Mont Belvieu Propane (non-Tet) 15 29.44 Natural Gas Financial Price Swap Contracts Contracts Sold Contracts Purchased Period Settlement Index Volume Weighted AveragePrice ($/MMBtu) Volume (MMBtud in thousands) Weighted Average Price ($/MMBtu) January - March 2021 (closed) NYMEX Henry Hub 500 $ 2.99 500 $ 2.43 April - September 2021 NYMEX Henry Hub 500 2.99 570 2.81 October - December 2021 NYMEX Henry Hub 500 2.99 500 2.83 January - December 2022 (closed) (1) NYMEX Henry Hub 20 2.75 — — April 2021 (closed) Japan Korea Marker (JKM) 70 6.65 — — May - September 2021 JKM 70 6.65 — — _________________ (1) In January 2021, EOG executed the early termination provision granting EOG the right to terminate all of its open 2022 natural gas price swap contracts. EOG received net cash of $0.6 million for the settlement of these contracts. Commodity Derivatives Location on Balance Sheet. The following table sets forth the amounts and classification of EOG's outstanding financial derivative instruments at March 31, 2021 and December 31, 2020. Certain amounts may be presented on a net basis on the Condensed Consolidated Financial Statements when such amounts are with the same counterparty and subject to a master netting arrangement (in millions): Fair Value at Description Location on Balance Sheet March 31, 2021 December 31, 2020 Asset Derivatives Crude oil, NGLs and natural gas derivative contracts - Current portion Assets from Price Risk Management Activities $ — $ 65 Noncurrent Portion Other Assets — 1 Liability Derivatives Crude oil, NGLs and natural gas derivative contracts - Current portion Liabilities from Price Risk Management Activities (1) $ 188 $ — Noncurrent portion Other Liabilities 7 1 (1) The current portion of Liabilities from Price Risk Management Activities consists of gross liabilities of $211 million, partially offset by gross assets of $23 million, at March 31, 2021. 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 exposures 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. See Note 11 for the aggregate fair value of all derivative instruments that were in a net liability position at March 31, 2021 and a net asset position at December 31, 2020. EOG had $19 million of collateral posted and no collateral held at March 31, 2021, and had no collateral posted or held at December 31, 2020.

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Mar. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures During the three months ended March 31, 2021, EOG paid cash for property acquisitions of $6 million in the United States. Additionally, during the three months ended March 31, 2021, EOG recognized net losses on asset dispositions of $6 million and received proceeds of approximately $5 million. During the three months ended March 31, 2020, EOG paid cash for property acquisitions of $44 million in the United States. Additionally, during the three months ended March 31, 2020, EOG recognized net gains on asset dispositions of $16 million, primarily due to the sale of proved properties and non-cash property exchanges of unproved leasehold in Texas, New Mexico and the Rocky Mountain area, and received proceeds of approximately $26 million.

Stock-Based Payments (Tables)

Stock-Based Payments (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	Stock-based compensation expense is included on the Condensed 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 2021 2020 Lease and Well $ 14 $ 15 Gathering and Processing Costs — — Exploration Costs 6 7 General and Administrative 15 18 Total $ 35 $ 40
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 three-month periods ended March 31, 2021 and 2020 are as follows: Stock Options/SARs ESPP Three Months Ended Three Months Ended 2021 2020 2021 2020 Weighted Average Fair Value of Grants $ 17.03 $ 19.67 $ 14.69 $ 20.80 Expected Volatility 47.18 % 33.43 % 54.99 % 35.24 % Risk-Free Interest Rate 0.28 % 1.43 % 0.09 % 1.56 % Dividend Yield 3.25 % 1.60 % 3.41 % 1.56 % Expected Life 5.2 years 5.0 years 0.5 years 0.5 years
Stock Options and SARs Transactions	The following table sets forth stock option and SAR transactions for the three-month periods ended March 31, 2021 and 2020 (stock options and SARs in thousands): Three Months Ended Three Months Ended Number of Weighted Number of Weighted Outstanding at January 1 10,186 $ 84.08 9,395 $ 94.53 Granted 7 53.98 9 75.44 Exercised (1) (26) 63.25 (23) 69.59 Forfeited (103) 89.21 (47) 96.81 Outstanding at March 31 (2) 10,064 $ 84.06 9,334 $ 94.56 Vested or Expected to Vest (3) 9,749 $ 84.74 8,998 $ 94.55 Exercisable at March 31 (4) 6,288 $ 96.47 5,249 $ 94.33 (1) The total intrinsic value of stock options/SARs exercised during the three months ended March 31, 2021 and 2020 was $0.2 million and $0.4 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 March 31, 2021 and 2020 was $71 million and zero, respectively. At March 31, 2021 and 2020, the weighted average remaining contractual life was 4.0 years. (3) The total intrinsic value of stock options/SARs vested or expected to vest at March 31, 2021 and 2020 was $66 million and zero, respectively. At March 31, 2021 and 2020, the weighted average remaining contractual life was 4.0 years. (4) The total intrinsic value of stock options/SARs exercisable at March 31, 2021 and 2020 was $3 million and zero, respectively. At March 31, 2021 and 2020, the weighted average remaining contractual life was 3.0 years and 2.8 years, respectively.
Restricted Stock and Restricted Stock Unit Transactions	The following table sets forth restricted stock and restricted stock unit transactions for the three-month periods ended March 31, 2021 and 2020 (shares and units in thousands): Three Months Ended Three Months Ended Number of Weighted Number of Weighted Outstanding at January 1 4,742 $ 74.97 4,546 $ 90.16 Granted 12 60.27 26 63.48 Released (1) (430) 90.27 (259) 88.19 Forfeited (25) 71.16 (11) 89.86 Outstanding at March 31 (2) 4,299 $ 73.42 4,302 $ 90.12 (1) The total intrinsic value of restricted stock and restricted stock units released during the three months ended March 31, 2021 and 2020 was $31 million and $11 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 March 31, 2021 and 2020 was $312 million and $155 million, respectively.
Performance Award Transactions	The following table sets forth the performance unit transactions for the three-month periods ended March 31, 2021 and 2020 (units in thousands): Three Months Ended Three Months Ended Number of Weighted Number of Weighted Outstanding at January 1 613 $ 79.10 598 $ 92.19 Granted 8 49.86 — — Granted for Performance Multiple (1) 19 96.29 66 100.95 Released (2) (98) 96.29 (121) 104.69 Forfeited — — — — Outstanding at March 31 (3) 542 (4) $ 76.18 543 $ 90.48 (1) Upon completion of the Performance Period for the performance units granted in 2017 and 2016, a performance multiple of 125% and 150%, respectively, was applied to each of the grants resulting in additional grants of performance units in February 2021 and February 2020, respectively. (2) The total intrinsic value of performance units released during the three months ended March 31, 2021 and 2020 was $6 million and $9 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date the performance units are released. (3) The total intrinsic value of performance units outstanding at March 31, 2021 and 2020 was approximately $39 million and $20 million, respectively.

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Computation of Net Income Per Share	The following table sets forth the computation of Net Income Per Share for the three-month periods ended March 31, 2021 and 2020 (in millions, except per share data): Three Months Ended 2021 2020 Numerator for Basic and Diluted Earnings Per Share - Net Income $ 677 $ 10 Denominator for Basic Earnings Per Share - Weighted Average Shares 580 578 Potential Dilutive Common Shares - Stock Options/SARs/ESPP 1 — Restricted Stock/Units and Performance Units 2 2 Denominator for Diluted Earnings Per Share - Adjusted Diluted Weighted Average Shares 583 580 Net Income Per Share Basic $ 1.17 $ 0.02 Diluted $ 1.16 $ 0.02

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2021
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 three-month periods ended March 31, 2021 and 2020 (in millions): Three Months Ended 2021 2020 Interest (1) $ 49 $ 47 Income Taxes, Net of Refunds Received $ 20 $ 15 (1) Net of capitalized interest of $8 million and $9 million for the three months ended March 31, 2021 and 2020, respectively.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Selected Financial Information by Reportable Segment	Selected financial information by reportable segment is presented below for the three-month periods ended March 31, 2021 and 2020 (in millions): Three Months Ended 2021 2020 Operating Revenues and Other United States $ 3,606 $ 4,661 Trinidad 76 42 Other International (1) 12 15 Total 3,694 4,718 Operating Income (Loss) United States (2) 890 105 Trinidad 43 13 Other International (1) (3) (1) (60) Total 932 58 Reconciling Items Other Income (Expense), Net (4) 18 Interest Expense, Net (47) (45) Income Before Income Taxes $ 881 $ 31 (1) Other International primarily consists of EOG's China and Canada operations. EOG began an exploration program in Oman in the third quarter of 2020. (2) EOG recorded pretax impairment charges of $1,456 million for the three months ended March 31, 2020, for proved oil and gas properties, leasehold costs and other assets due to the decline in commodity prices. (3) EOG recorded pretax impairment charges of $60 million for the three months ended March 31, 2020, for firm commitment contracts related to its decision to exit the Horn River Basin in British Columbia, Canada.
Assets by Reportable Segment	Total assets by reportable segment are presented below at March 31, 2021 and December 31, 2020 (in millions): At At Total Assets United States $ 35,395 $ 35,048 Trinidad 586 546 Other International (1) 190 211 Total $ 36,171 $ 35,805

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2021
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 three-month periods ended March 31, 2021 and 2020 (in millions): Three Months Ended 2021 2020 Carrying Amount at January 1 $ 1,217 $ 1,111 Liabilities Incurred 12 15 Liabilities Settled (1) (5) (24) Accretion 11 11 Revisions 2 — Carrying Amount at March 31 $ 1,237 $ 1,113 Current Portion $ 49 $ 38 Noncurrent Portion $ 1,188 $ 1,075 (1) Includes settlements related to asset sales.

Exploratory Well Costs (Tables)

Exploratory Well Costs (Tables)	3 Months Ended
	Mar. 31, 2021
Capitalized Exploratory Well Costs [Abstract]
Net Changes In Capitalized Exploratory Well Costs	EOG's net changes in capitalized exploratory well costs for the three-month period ended March 31, 2021, are presented below (in millions): Three Months Ended Balance at January 1 $ 29 Additions Pending the Determination of Proved Reserves 12 Reclassifications to Proved Properties (3) Costs Charged to Expense (1) (5) Balance at March 31 $ 33 (1) Includes capitalized exploratory well costs charged to either dry hole costs or impairments.
Schedule of Aging of Capitalized Exploratory Well Costs	Three Months Ended Capitalized exploratory well costs that have been capitalized for a period of one year or less $ 18 Capitalized exploratory well costs that have been capitalized for a period greater than one year (1) 15 Balance at March 31 $ 33 Number of exploratory wells that have been capitalized for a period greater than one year 1 (1) Consists of costs related to a project in Trinidad at March 31, 2021.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
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 March 31, 2021 and December 31, 2020 (in millions): Fair Value Measurements Using: Quoted Significant Significant Total At March 31, 2021 Financial Assets: Natural Gas Swaps $ — $ 23 $ — $ 23 Financial Liabilities: Natural Gas Swaps — 5 — 5 Crude Oil Swaps — 175 — 175 Crude Oil Roll Differential Swaps — 20 — 20 Natural Gas Liquids Swaps — 18 — 18 At December 31, 2020 Financial Assets: Natural Gas Swaps $ — $ 66 $ — $ 66 Financial Liabilities: Crude Oil Roll Differential Swaps — 1 — 1

Risk Management Activities (Tab

Risk Management Activities (Tables)	3 Months Ended
	Mar. 31, 2021
Derivatives, Fair Value [Line Items]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table sets forth the amounts and classification of EOG's outstanding financial derivative instruments at March 31, 2021 and December 31, 2020. Certain amounts may be presented on a net basis on the Condensed Consolidated Financial Statements when such amounts are with the same counterparty and subject to a master netting arrangement (in millions): Fair Value at Description Location on Balance Sheet March 31, 2021 December 31, 2020 Asset Derivatives Crude oil, NGLs and natural gas derivative contracts - Current portion Assets from Price Risk Management Activities $ — $ 65 Noncurrent Portion Other Assets — 1 Liability Derivatives Crude oil, NGLs and natural gas derivative contracts - Current portion Liabilities from Price Risk Management Activities (1) $ 188 $ — Noncurrent portion Other Liabilities 7 1
Crude Oil | Price Swaps
Derivatives, Fair Value [Line Items]
Schedule of Derivative Instruments	Presented below is a comprehensive summary of EOG's financial commodity derivative contracts as of March 31, 2021. Crude oil and NGL volumes are presented in thousand barrels per day (MBbld) and prices are presented in dollars per barrel ($/Bbl). Natural gas volumes are presented in million British Thermal Units per day (MMBtud) and prices are presented in dollars per million British Thermal Units ($/MMBtu). Crude Oil Financial Price Swap Contracts Contracts Sold Period Settlement Index Volume Weighted Average Price January 2021 (closed) New York Mercantile Exchange (NYMEX) West Texas Intermediate (WTI) 151 $ 50.06 February - March 2021 (closed) NYMEX WTI 201 51.29 April - June 2021 NYMEX WTI 150 51.68 July - September 2021 NYMEX WTI 150 52.71
Crude Oil | Roll Differential Swap
Derivatives, Fair Value [Line Items]
Schedule of Derivative Instruments	Crude Oil Basis Swap Contracts Contracts Sold Period Settlement Index Volume Weighted Average Price Differential February 2021 (closed) NYMEX WTI Roll Differential (1) 30 $ 0.11 March - April 2021 (closed) NYMEX WTI Roll Differential (1) 125 0.17 May - December 2021 NYMEX WTI Roll Differential (1) 125 0.17 January - December 2022 NYMEX WTI Roll Differential (1) 125 0.15 _________________ (1) This settlement index is used to fix the differential in pricing between the NYMEX calendar month average and the physical crude oil delivery month.
Natural Gas Liquids | Mont Belvieu Propane Price Swap
Derivatives, Fair Value [Line Items]
Schedule of Derivative Instruments	NGL Financial Price Swap Contracts Contracts Sold Period Settlement Index Volume Weighted Average Price January - March 2021 (closed) Mont Belvieu Propane (non-Tet) 15 $ 29.44 April - December 2021 Mont Belvieu Propane (non-Tet) 15 29.44
Natural Gas
Derivatives, Fair Value [Line Items]
Schedule of Derivative Instruments	Natural Gas Financial Price Swap Contracts Contracts Sold Contracts Purchased Period Settlement Index Volume Weighted AveragePrice ($/MMBtu) Volume (MMBtud in thousands) Weighted Average Price ($/MMBtu) January - March 2021 (closed) NYMEX Henry Hub 500 $ 2.99 500 $ 2.43 April - September 2021 NYMEX Henry Hub 500 2.99 570 2.81 October - December 2021 NYMEX Henry Hub 500 2.99 500 2.83 January - December 2022 (closed) (1) NYMEX Henry Hub 20 2.75 — — April 2021 (closed) Japan Korea Marker (JKM) 70 6.65 — — May - September 2021 JKM 70 6.65 — — _________________ (1) In January 2021, EOG executed the early termination provision granting EOG the right to terminate all of its open 2022 natural gas price swap contracts. EOG received net cash of $0.6 million for the settlement of these contracts.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details) $ in Billions	Mar. 31, 2021USD ($)
Revolving Credit Agreement (New Facility) [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 2

Stock-Based Payments (Details)

Stock-Based Payments (Details) - USD ($)		3 Months Ended
		Mar. 31, 2021		Mar. 31, 2020
Stock Options/SARs, Employee Stock Purchase Plan (ESPP), Restricted Stock and Restricted Stock Units and Performance Units Disclosures [Line Items]
Stock-Based Compensation Expenses		$ 35,000,000		$ 40,000,000
Common Shares Available for Grant		2,000,000
Aggregate Maximum of Common Shares		20,000,000
Stock Options And SARs
Stock Options/SARs, Employee Stock Purchase Plan (ESPP), Restricted Stock and Restricted Stock Units and Performance Units Disclosures [Line Items]
Stock-based compensation expense related to stock options, SAR and ESPP grants		$ 10,000,000		$ 14,000,000
Unrecognized compensation expense		$ 47,000,000
Weighted average period over which unrecognized compensation expense will be recognized (in years)		1 year 10 months 24 days
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)		$ 17.03		$ 19.67
Expected Volatility (in hundredths)		47.18%		33.43%
Risk-Free Interest Rate (in hundredths)		0.28%		1.43%
Dividend Yield (in hundredths)		3.25%		1.60%
Expected Life (in years)		5 years 2 months 12 days		5 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at January 1 (in shares)		10,186,000		9,395,000
Granted (in shares)		7,000		9,000
Exercised (1) (in shares)	[1]	(26,000)		(23,000)
Forfeited (in shares)		(103,000)		(47,000)
Outstanding at March 31 (2)	[2]	10,064,000		9,334,000
Stock Options and SARs Vested or Expected to Vest (3) (in shares)	[3]	9,749,000		8,998,000
Stock Options and SARs Exercisable at March 31 (4) (in shares)	[4]	6,288,000		5,249,000
Intrinsic Value of Stock Options/SARs Exercised	[1]	$ 200,000		$ 400,000
Intrinsic Value of Stock Options/SARs Outstanding	[2]	$ 71,000,000		$ 0
Weighted Average Remaining Contractual Life for Stock Options/SARs Outstanding (in years)	[2]	4 years		4 years
Intrinsic Value of Stock Options/SARs Vested or Expected to Vest	[3]	$ 66,000,000		$ 0
Weighted average remaining contractual life for stock options/SARs vested or expected to vest (in years)	[3]	4 years		4 years
Aggregate Intrinsic Value for Exercisable Units	[4]	$ 3,000,000		$ 0
Weighted average remaining contractual life for exercisable options/SARs (in years)	[4]	3 years		2 years 9 months 18 days
Weighted Average Grant Price Stock Option and SARs [Rollforward]
Outstanding at January 1 (price per share)		$ 84.08		$ 94.53
Granted (price per share)		53.98		75.44
Exercised (1) (price per share)	[1]	63.25		69.59
Forfeited (price per share)		89.21		96.81
Outstanding at March 31 (2)	[2]	84.06		94.56
Vested or Expected to Vest (3) (price per share)	[3]	84.74		94.55
Exercisable at March 31 (4)	[4]	96.47		94.33
ESPP
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)		$ 14.69		$ 20.80
Expected Volatility (in hundredths)		54.99%		35.24%
Risk-Free Interest Rate (in hundredths)		0.09%		1.56%
Dividend Yield (in hundredths)		3.41%		1.56%
Expected Life (in years)		6 months		6 months
Restricted Stock And Restricted Stock Units
Stock Options/SARs, Employee Stock Purchase Plan (ESPP), Restricted Stock and Restricted Stock Units and Performance Units Disclosures [Line Items]
Unrecognized compensation expense		$ 153,000,000
Weighted average period over which unrecognized compensation expense will be recognized (in years)		1 year 6 months
Share-Based Compensation Arrangement By Restricted Stock And Restricted Stock Units Compensation Cost		$ 24,000,000		$ 25,000,000
Restricted Stock/Restricted Stock Units and Performance Units [Roll Forward]
Outstanding at January 1 (in shares)		4,742,000		4,546,000
Granted (in shares)		12,000		26,000
Released (1) (in shares)	[5]	(430,000)		(259,000)
Forfeited (in shares)		(25,000)		(11,000)
Outstanding at March 31 (3)	[6]	4,299,000		4,302,000
Intrinsic value released during the year	[5]	$ 31,000,000		$ 11,000,000
Aggregate intrinsic value of stock and units outstanding	[6]	$ 312,000,000		$ 155,000,000
Weighted Average Grant Price Restricted Stock and Restricted Stock Units [Roll Forward]
Outstanding at January 1 (price per share)		$ 74.97		$ 90.16
Granted (price per share)		60.27		63.48
Released (2) (price per share)	[5]	90.27		88.19
Forfeited (price per share)		71.16		89.86
Outstanding at March 31 (3) (price per share)	[6]	$ 73.42		$ 90.12
Performance Unit
Stock Options/SARs, Employee Stock Purchase Plan (ESPP), Restricted Stock and Restricted Stock Units and Performance Units Disclosures [Line Items]
Stock-Based Compensation Expenses		$ 1,000,000		$ 1,000,000
Unrecognized compensation expense		$ 7,000,000
Weighted average period over which unrecognized compensation expense will be recognized (in years)		1 year 10 months 24 days
Restricted Stock/Restricted Stock Units and Performance Units [Roll Forward]
Outstanding at January 1 (in shares)		613,000		598,000
Granted (in shares)		8,000		0
Granted for Performance Multiple (1)	[7]	19,000		66,000
Released (1) (in shares)	[8]	(98,000)		(121,000)
Forfeited (in shares)		0		0
Outstanding at March 31 (3)	[9]	542,000	[10]	543,000
Intrinsic value released during the year		$ 6,000,000	[8]	$ 9,000,000
Aggregate intrinsic value of stock and units outstanding	[9]	$ 39,000,000		$ 20,000,000
Weighted Average Grant Price Restricted Stock and Restricted Stock Units [Roll Forward]
Outstanding at January 1 (price per share)		$ 79.10		$ 92.19
Granted (price per share)		49.86		0
Granted for Performance Multiple (1) (in dollars per share)	[7]	96.29		100.95
Released (2) (price per share)	[8]	96.29		104.69
Forfeited (price per share)		0		0
Outstanding at March 31 (3) (price per share)	[9]	$ 76.18		$ 90.48
Performance Units and Performance Stock Disclosures [Abstract]
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%
Performance Multiple Applied at the Completion Period	[7]	125.00%		150.00%
Minimum Performance Units and Stock Allowed to be Outstanding	[10]	76,785
Maximum Performance Units Allowed to be Outstanding	[10]	1,007,705
Lease and Well
Stock Options/SARs, Employee Stock Purchase Plan (ESPP), Restricted Stock and Restricted Stock Units and Performance Units Disclosures [Line Items]
Stock-Based Compensation Expenses		$ 14,000,000		$ 15,000,000
Gathering and Processing Costs
Stock Options/SARs, Employee Stock Purchase Plan (ESPP), Restricted Stock and Restricted Stock Units and Performance Units Disclosures [Line Items]
Stock-Based Compensation Expenses		0		0
Exploration Costs
Stock Options/SARs, Employee Stock Purchase Plan (ESPP), Restricted Stock and Restricted Stock Units and Performance Units Disclosures [Line Items]
Stock-Based Compensation Expenses		6,000,000		7,000,000
General and Administrative
Stock Options/SARs, Employee Stock Purchase Plan (ESPP), Restricted Stock and Restricted Stock Units and Performance Units Disclosures [Line Items]
Stock-Based Compensation Expenses		$ 15,000,000		$ 18,000,000
[1]	The total intrinsic value of stock options/SARs exercised during the three months ended March 31, 2021 and 2020 was $0.2 million and $0.4 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 March 31, 2021 and 2020 was $71 million and zero, respectively. At March 31, 2021 and 2020, the weighted average remaining contractual life was 4.0 years.
[3]	The total intrinsic value of stock options/SARs vested or expected to vest at March 31, 2021 and 2020 was $66 million and zero, respectively. At March 31, 2021 and 2020, the weighted average remaining contractual life was 4.0 years.
[4]	The total intrinsic value of stock options/SARs exercisable at March 31, 2021 and 2020 was $3 million and zero, respectively. At March 31, 2021 and 2020, the weighted average remaining contractual life was 3.0 years and 2.8 years, respectively.
[5]	The total intrinsic value of restricted stock and restricted stock units released during the three months ended March 31, 2021 and 2020 was $31 million and $11 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 March 31, 2021 and 2020 was $312 million and $155 million, respectively.
[7]	Upon completion of the Performance Period for the performance units granted in 2017 and 2016, a performance multiple of 125% and 150%, respectively, was applied to each of the grants resulting in additional grants of performance units in February 2021 and February 2020, respectively.
[8]	The total intrinsic value of performance units released during the three months ended March 31, 2021 and 2020 was $6 million and $9 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date the performance units are released.
[9]	The total intrinsic value of performance units outstanding at March 31, 2021 and 2020 was approximately $39 million and $20 million, respectively.
[10]	Upon the application of the relevant performance multiple at the completion of each of the remaining Performance Periods, a minimum of 76,785 and a maximum of 1,007,705 performance units could be outstanding.

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator for Basic and Diluted Earnings Per Share - [Abstract]
Net Income	$ 677	$ 10
Denominator for Basic Earnings Per Share - [Abstract]
Weighted Average Shares	580	578
Denominator for Diluted Earnings Per Share - [Abstract]
Adjusted Diluted Weighted Average Shares	583	580
Net Income Per Share
Basic	$ 1.17	$ 0.02
Diluted	$ 1.16	$ 0.02
Stock Options, SARs and ESPP [Member]
Potential Dilutive Common Shares - [Abstract]
Common Shares Attributable to Dilutive Effect of Share-Based Payment Arrangments	1	0
Net Income Per Share
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	8	9
Restricted Stock/Units and Performance Units/Stock
Potential Dilutive Common Shares - [Abstract]
Common Shares Attributable to Dilutive Effect of Share-Based Payment Arrangments	2	2

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Supplemental Cash Flow Information [Abstract]
Interest (1)	[1]	$ 49	$ 47
Income Taxes, Net of Refunds Received		20	15
Interest Costs Capitalized		8	9
Accrued Capital Expenditures		436	642
Non-Cash Property Exchanges		25	29
Noncash Additions To Other Property, Plant and Equipment		$ 74	$ 49
[1]	Net of capitalized interest of $8 million and $9 million for the three months ended March 31, 2021 and 2020, respectively.

Segment Information (Details)

Segment Information (Details) - USD ($)		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020		Dec. 31, 2020
Selected Information [Line Items]
Document Period End Date		Mar. 31, 2021
Schedule of Segment Reporting Information By Segment [Abstract]
Operating Revenues and Other		$ 3,694,000,000	$ 4,718,000,000
Operating Income (Loss)		932,000,000	58,000,000
Other Income, Net		(4,000,000)	18,000,000
Interest Expense, Net		(47,000,000)	(45,000,000)
Income Before Income Taxes		881,000,000	31,000,000
Total Assets		36,171,000,000			$ 35,805,000,000
Pretax Impairment Charges for Proved Oil and Gas Properties and Other Property, Plant and Equipment			1,456,000,000
United States
Schedule of Segment Reporting Information By Segment [Abstract]
Operating Revenues and Other		3,606,000,000	4,661,000,000
Operating Income (Loss)		890,000,000	105,000,000	[1]
Total Assets		35,395,000,000			35,048,000,000
Trinidad
Schedule of Segment Reporting Information By Segment [Abstract]
Operating Revenues and Other		76,000,000	42,000,000
Operating Income (Loss)		43,000,000	13,000,000
Total Assets		586,000,000			546,000,000
Other International
Schedule of Segment Reporting Information By Segment [Abstract]
Operating Revenues and Other	[2]	12,000,000	15,000,000
Operating Income (Loss)	[2]	(1,000,000)	(60,000,000)	[3]
Total Assets	[4]	$ 190,000,000			$ 211,000,000
Pretax Impairment Charges for Proved Oil and Gas Properties and Other Property, Plant and Equipment			$ 60,000,000
[1]	EOG recorded pretax impairment charges of $1,456 million for the three months ended March 31, 2020, for proved oil and gas properties, leasehold costs and other assets due to the decline in commodity prices.
[2]	Other International primarily consists of EOG's China and Canada operations. EOG began an exploration program in Oman in the third quarter of 2020.
[3]	EOG recorded pretax impairment charges of $60 million for the three months ended March 31, 2020, for firm commitment contracts related to its decision to exit the Horn River Basin in British Columbia, Canada.
[4]	Other International primarily consists of EOG's China and Canada operations. EOG began an exploration program in Oman in the third quarter of 2020.

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Asset Retirement Obligation [Abstract]
Carrying Amount at January 1		$ 1,217	$ 1,111
Liabilities Incurred		12	15
Liabilities Settled (1)	[1]	(5)	(24)
Accretion		11	11
Revisions		2	0
Carrying Amount at March 31		1,237	1,113
Current Portion		49	38
Noncurrent Portion		$ 1,188	$ 1,075
[1]	Includes settlements related to asset sales.

Exploratory Well Costs (Details

Exploratory Well Costs (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)well
Capitalized Exploratory Well Costs that are Pending Determination of Proved Reserves [Roll Forward]
Balance at January 1	$ 29
Additions Pending the Determination of Proved Reserves	12
Reclassifications to Proved Properties	(3)
Costs Charged to Expense (1)	(5)	[1]
Balance at March 31	33
Capitalized Exploratory Well Costs that Have Been Capitalized for Period of One Year or Less	18
Capitalized Exploratory Well Costs that Have Been Capitalized for Period Greater than One Year	$ 15	[2]
Projects that have Exploratory Well Costs that have been Capitalized for Period Greater than One Year, Number of Projects | well	1
[1]	Includes capitalized exploratory well costs charged to either dry hole costs or impairments.
[2]	Consists of costs related to a project in Trinidad at March 31, 2021.

Pension and Postretirement Be_2

Pension and Postretirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Defined Benefit and Defined Contribution Plan Disclosure [Line Items]
Pension and Other Postretirement Benefits Cost	$ 12	$ 9

Long-Term Debt and Common Sto_2

Long-Term Debt and Common Stock (Details) - USD ($)	May 06, 2021	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Debt Instrument [Abstract]
Common Stock Dividends Declared (in dollars per share)	$ 1	$ 0.4125	$ 0.375	$ 0.375
Commercial Paper [Member]
Line of Credit Facility [Line Items]
Borrowings Outstanding		$ 0		$ 0
Revolving Credit Agreement (New Facility) [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 2,000,000,000
Line of Credit Facility, Expiration Date		Jun. 27, 2024
Revolving Credit Agreement 2020 [Member]
Line of Credit Facility [Line Items]
Borrowings Outstanding		$ 0	$ 0
Line Of Credit Facility Increase Additional Borrowings		$ 3,000,000,000
Maximum Total Debt To Total Capitalization Ratio Allowed Under Financial Covenant		65.00%
Eurodollar [Member]
Line of Credit Facility [Line Items]
Weighted average interest rate (in hundredths)		1.01%
Base Rate [Member]
Line of Credit Facility [Line Items]
Weighted average interest rate (in hundredths)		3.25%
2.45% Senior Notes Due 2020 [Member]
Debt Instrument [Abstract]
Debt Instrument, Face Amount		$ 750,000,000
Debt Instrument, Interest Rate, Stated Percentage		4.10%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Aggregate Principal Amount of Current and Long-Term Debt	$ 4,890	$ 5,640
Estimated Fair Value of Debt	5,478	6,505
Commodity Contract [Member] | Crude Oil | Price Swaps
Financial Liabilities:
Financial and Nonfinancial Liabilities, Fair Value Disclosure	175
Commodity Contract [Member] | Crude Oil | Price Swaps | Fair Value, Inputs, Level 1 [Member]
Financial Liabilities:
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0
Commodity Contract [Member] | Crude Oil | Price Swaps | Fair Value, Inputs, Level 2 [Member]
Financial Liabilities:
Financial and Nonfinancial Liabilities, Fair Value Disclosure	175
Commodity Contract [Member] | Crude Oil | Price Swaps | Fair Value, Inputs, Level 3 [Member]
Financial Liabilities:
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0
Commodity Contract [Member] | Crude Oil | Roll Differential Swap
Financial Liabilities:
Financial and Nonfinancial Liabilities, Fair Value Disclosure	20	1
Commodity Contract [Member] | Crude Oil | Roll Differential Swap | Fair Value, Inputs, Level 1 [Member]
Financial Liabilities:
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0	0
Commodity Contract [Member] | Crude Oil | Roll Differential Swap | Fair Value, Inputs, Level 2 [Member]
Financial Liabilities:
Financial and Nonfinancial Liabilities, Fair Value Disclosure	20	1
Commodity Contract [Member] | Crude Oil | Roll Differential Swap | Fair Value, Inputs, Level 3 [Member]
Financial Liabilities:
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0	0
Commodity Contract [Member] | Natural Gas Liquids | Price Swaps
Financial Liabilities:
Financial and Nonfinancial Liabilities, Fair Value Disclosure	18
Commodity Contract [Member] | Natural Gas Liquids | Price Swaps | Fair Value, Inputs, Level 1 [Member]
Financial Liabilities:
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0
Commodity Contract [Member] | Natural Gas Liquids | Price Swaps | Fair Value, Inputs, Level 2 [Member]
Financial Liabilities:
Financial and Nonfinancial Liabilities, Fair Value Disclosure	18
Commodity Contract [Member] | Natural Gas Liquids | Price Swaps | Fair Value, Inputs, Level 3 [Member]
Financial Liabilities:
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0
Commodity Contract [Member] | Natural Gas | Price Swaps
Financial Assets: [Abstract]
Assets, Fair Value Disclosure	23	66
Financial Liabilities:
Financial and Nonfinancial Liabilities, Fair Value Disclosure	5
Commodity Contract [Member] | Natural Gas | Price Swaps | Fair Value, Inputs, Level 1 [Member]
Financial Assets: [Abstract]
Assets, Fair Value Disclosure	0	0
Financial Liabilities:
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0
Commodity Contract [Member] | Natural Gas | Price Swaps | Fair Value, Inputs, Level 2 [Member]
Financial Assets: [Abstract]
Assets, Fair Value Disclosure	23	66
Financial Liabilities:
Financial and Nonfinancial Liabilities, Fair Value Disclosure	5
Commodity Contract [Member] | Natural Gas | Price Swaps | Fair Value, Inputs, Level 3 [Member]
Financial Assets: [Abstract]
Assets, Fair Value Disclosure	0	$ 0
Financial Liabilities:
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$ 0

Risk Management Activities (Det

Risk Management Activities (Details) MMBTU in Thousands		3 Months Ended
		Mar. 31, 2021USD ($)MMBTU$ / bblMBbls	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Derivatives, Fair Value [Line Items]
Assets from Price Risk Management Activities | $		$ 0		$ 65,000,000
Liabilities from Price Risk Management Activities | $		188,000,000		0
Derivative Liability, Noncurrent | $		7,000,000		1,000,000
Net Cash Received from (Payments for) Settlements of Commodity Derivative Contracts | $		(30,000,000)	$ 84,000,000
Derivative Collateral [Abstract]
Collateral Had on Derivative | $		19,000,000		0
Collateral Held on Derivative | $		0		0
Price Risk Derivative
Derivatives, Fair Value [Line Items]
Other Assets | $		0		1,000,000
Derivative Contracts - Year Two
Derivatives, Fair Value [Line Items]
Net Cash Received from (Payments for) Settlements of Commodity Derivative Contracts | $		600,000
Assets From Price Risk Management Activities | Price Risk Derivative
Derivatives, Fair Value [Line Items]
Assets from Price Risk Management Activities | $		0		65,000,000
Liabilities From Price Risk Management Activities
Derivatives, Fair Value [Line Items]
Assets from Price Risk Management Activities | $		23,000,000
Liabilities from Price Risk Management Activities | $		211,000,000
Liabilities From Price Risk Management Activities | Price Risk Derivative
Derivatives, Fair Value [Line Items]
Liabilities from Price Risk Management Activities | $	[1]	$ 188,000,000		$ 0
Crude Oil | Derivative Contracts - January (closed) | Price Swaps
Derivatives, Fair Value [Line Items]
Volume (Bbld) | MBbls		151,000
Weighted Average Price		50.06
Crude Oil | Derivative Contracts - February through March (closed) | Price Swaps
Derivatives, Fair Value [Line Items]
Volume (Bbld) | MBbls		201,000
Weighted Average Price		51.29
Crude Oil | Derivative Contracts - April through June | Price Swaps
Derivatives, Fair Value [Line Items]
Volume (Bbld) | MBbls		150,000
Weighted Average Price		51.68
Crude Oil | Derivative Contracts - July through September | Price Swaps
Derivatives, Fair Value [Line Items]
Volume (Bbld) | MBbls		150,000
Weighted Average Price		52.71
Crude Oil | Derivative Contracts - February (closed) | Roll Differential Swap
Derivatives, Fair Value [Line Items]
Volume (Bbld) | MBbls	[2]	30,000
Weighted Average Price	[2]	0.11
Crude Oil | Derivative Contracts - March through April (closed) | Roll Differential Swap
Derivatives, Fair Value [Line Items]
Volume (Bbld) | MBbls	[2]	125,000
Weighted Average Price	[2]	0.17
Crude Oil | Derivative Contracts - May through December | Roll Differential Swap
Derivatives, Fair Value [Line Items]
Volume (Bbld) | MBbls	[2]	125,000
Weighted Average Price	[2]	0.17
Crude Oil | Derivative Contracts - Year Two | Roll Differential Swap
Derivatives, Fair Value [Line Items]
Volume (Bbld) | MBbls	[2]	125,000
Weighted Average Price	[2]	0.15
Natural Gas Liquids | Derivative Contracts - January through March (closed) | Mont Belvieu Propane Price Swap
Derivatives, Fair Value [Line Items]
Volume (Bbld) | MBbls		15,000
Weighted Average Price		29.44
Natural Gas Liquids | Derivative Contracts - April through December | Mont Belvieu Propane Price Swap
Derivatives, Fair Value [Line Items]
Volume (Bbld) | MBbls		15,000
Weighted Average Price		29.44
Natural Gas | Derivative Contracts - Year Two | Price Swaps
Derivatives, Fair Value [Line Items]
Volume (MMBtud) | MMBTU	[3]	20
Weighted Average Price	[3]	2.75
Natural Gas | Derivative Contracts - January through March (closed) | Price Swaps
Derivatives, Fair Value [Line Items]
Volume (MMBtud) | MMBTU		500
Weighted Average Price		2.99
Natural Gas | Derivative Contacts - April (closed) | Japan Korea Marker Price Swap
Derivatives, Fair Value [Line Items]
Volume (MMBtud) | MMBTU		70
Weighted Average Price		6.65
Natural Gas | Derivative Contracts - April through September | Price Swaps
Derivatives, Fair Value [Line Items]
Volume (MMBtud) | MMBTU		500
Weighted Average Price		2.99
Natural Gas | Derivative Contracts - May through September | Japan Korea Marker Price Swap
Derivatives, Fair Value [Line Items]
Volume (MMBtud) | MMBTU		70
Weighted Average Price		6.65
Natural Gas | Derivative Contracts - October though December | Price Swaps
Derivatives, Fair Value [Line Items]
Volume (MMBtud) | MMBTU		500
Weighted Average Price		2.99
Natural Gas | Offsetting Derivative Contracts - January through March (closed) | Price Swaps
Derivatives, Fair Value [Line Items]
Volume (MMBtud) | MMBTU		500
Weighted Average Price		2.43
Natural Gas | OffSetting Derivative Contracts - April through September | Price Swaps
Derivatives, Fair Value [Line Items]
Volume (MMBtud) | MMBTU		570
Weighted Average Price		2.81
Natural Gas | Offsetting Derivative Contracts - April (closed) | Japan Korea Marker Price Swap
Derivatives, Fair Value [Line Items]
Volume (MMBtud) | MMBTU		0
Weighted Average Price		0
Natural Gas | OffSetting Derivative Contracts - May through September | Japan Korea Marker Price Swap
Derivatives, Fair Value [Line Items]
Volume (MMBtud) | MMBTU		0
Weighted Average Price		0
Natural Gas | OffSetting Derivative Contracts - October through December | Price Swaps
Derivatives, Fair Value [Line Items]
Volume (MMBtud) | MMBTU		500
Weighted Average Price		2.83
Natural Gas | OffSetting Derivative Contracts - Year Two | Price Swaps
Derivatives, Fair Value [Line Items]
Volume (MMBtud) | MMBTU	[3]	0
Weighted Average Price	[3]	0
[1]	The current portion of Liabilities from Price Risk Management Activities consists of gross liabilities of $211 million, partially offset by gross assets of $23 million, at March 31, 2021.
[2]	This settlement index is used to fix the differential in pricing between the NYMEX calendar month average and the physical crude oil delivery month.
[3]	In January 2021, EOG executed the early termination provision granting EOG the right to terminate all of its open 2022 natural gas price swap contracts. EOG received net cash of $0.6 million for the settlement of these contracts.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Payments to Acquire Oil and Gas Property	$ 6	$ 44
Gains (Losses) on Asset Dispositions, Net	(6)	16
Proceeds on Asset Dispositions	$ 5	$ 26