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)

	Nine Months
	Ended
	September 30,			Year Ended December 31,
	2010			2009			2008			2007			2006			2005
EARNINGS AVAILABLE FOR FIXED CHARGES:
Net Income	$	106,981		$	546,627		$	2,436,919		$	1,089,918		$	1,299,885		$	1,259,576
Less: Capitalized Interest Expense		(56,792	)		(54,919	)		(42,628	)		(29,324	)		(19,900	)		(14,596	)
Add: Fixed Charges		167,526			181,426			117,568			96,228			80,050			90,933
Income Tax Provision		161,422			325,384			1,309,620			540,950			612,756			705,561
EARNINGS AVAILABLE	$	379,137		$	998,518		$	3,821,479		$	1,697,772		$	1,972,791		$	2,041,474
FIXED CHARGES:
Interest Expense	$	85,101		$	97,751		$	49,899		$	45,628		$	43,158		$	62,506
Capitalized Interest		56,792			54,919			42,628			29,324			19,900			14,596
Capitalized Expense Related to Indebtedness		3,114			3,150			1,759			1,150			1,655			2,381
Rental Expense Representative of Interest Factor		22,519			25,606			23,282			20,126			15,337			11,450
TOTAL FIXED CHARGES		167,526			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	$	167,526		$	181,426		$	118,249		$	106,198		$	96,229		$	102,528
RATIO OF EARNINGS TO FIXED CHARGES		2.26			5.50			32.50			17.64			24.64			22.45
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS		2.26			5.50			32.32			15.99			20.50			19.91