EOG Resources (EOG) S-3ASR Automatic shelf registration

EXHIBIT 12.1

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

	Six Months
	Ended
	June 30,			Year Ended December 31,
	2008			2007			2006			2005			2004			2003
EARNINGS AVAILABLE FOR FIXED CHARGES:
Net Income Before Cumulative Effect of Change in Accounting Principle (1)	$	419,162		$	1,089,918		$	1,299,885		$	1,259,576		$	624,855		$	437,276
Less: Capitalized Interest Expense		(19,533	)		(29,324	)		(19,900	)		(14,596	)		(9,631	)		(8,541	)
Add: Fixed Charges		51,732			96,228			80,050			90,933			83,264			78,138
Income Tax Provision		198,333			540,950			612,756			705,561			301,157			216,600
EARNINGS AVAILABLE	$	649,694		$	1,697,772		$	1,972,791		$	2,041,474		$	999,645		$	723,473
FIXED CHARGES:
Interest Expense	$	20,523		$	45,628		$	43,158		$	62,506		$	63,128		$	58,711
Capitalized Interest		19,533			29,324			19,900			14,596			9,631			8,541
Capitalized Expense Related to Indebtedness		697			1,150			1,655			2,381			1,994			3,477
Rental Expense Representative of Interest Factor		10,979			20,126			15,337			11,450			8,511			7,409
TOTAL FIXED CHARGES		51,732			96,228			80,050			90,933			83,264			78,138
Preferred Stock Dividends on a Pre-tax Basis		653			9,970			16,179			11,595			16,142			16,497
COMBINED TOTAL FIXED CHARGES AND PREFERRED STOCK DIVIDENDS	$	52,385		$	106,198		$	96,229		$	102,528		$	99,406		$	94,635
RATIO OF EARNINGS TO FIXED CHARGES		12.56			17.64			24.64			22.45			12.01			9.26
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS		12.40			15.99			20.50			19.91			10.06			7.64

(1) EOG adopted Statement of Financial Accounting Standards (SFAS) No. 143, “Accounting for Asset Retirement Obligations,” on January 1, 2003.