EOG Resources (EOG) 8-K Entry into a Material Definitive Agreement

Exhibit 12.1

EOG RESOURCES, INC.
Computation of Ratio of Earnings to Fixed Charges and
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(In Thousands)
(Unaudited)

	Three Months
	Ended
	March 31,			Year Ended December 31,
	2010			2009			2008			2007			2006			2005
EARNINGS AVAILABLE FOR FIXED CHARGES:
Net Income	$	118,015		$	546,627		$	2,436,919		$	1,089,918		$	1,299,885		$	1,259,576
Less: Capitalized Interest Expense		(18,435	)		(54,919	)		(42,628	)		(29,324	)		(19,900	)		(14,596	)
Add: Fixed Charges		51,161			181,426			117,568			96,228			80,050			90,933
Income Tax Provision		79,142			325,384			1,309,620			540,950			612,756			705,561
EARNINGS AVAILABLE	$	229,883		$	998,518		$	3,821,479		$	1,697,772		$	1,972,791		$	2,041,474
FIXED CHARGES:
Interest Expense	$	24,516		$	97,751		$	49,899		$	45,628		$	43,158		$	62,506
Capitalized Interest		18,435			54,919			42,628			29,324			19,900			14,596
Capitalized Expense Related to Indebtedness		912			3,150			1,759			1,150			1,655			2,381
Rental Expense Representative of Interest Factor		7,298			25,606			23,282			20,126			15,337			11,450
TOTAL FIXED CHARGES		51,161			181,426			117,568			96,228			80,050			90,933
Preferred Stock Dividends on a Pre-tax Basis		—			—			681			9,970			16,179			11,595
COMBINED TOTAL FIXED CHARGES AND PREFERRED STOCK DIVIDENDS	$	51,161		$	181,426		$	118,249		$	106,198		$	96,229		$	102,528
RATIO OF EARNINGS TO FIXED CHARGES		4.49			5.50			32.50			17.64			24.64			22.45
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS		4.49			5.50			32.32			15.99			20.50			19.91