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

to Combined Fixed Charges and Preferred Stock Dividends

(In Thousands)

(Unaudited)

	Six Months Ended June 30,			Year Ended December 31,
	2012			2011			2010			2009			2008			2007
EARNINGS AVAILABLE FOR FIXED CHARGES:
Net Income	$	719,787		$	1,091,123		$	160,654		$	546,627		$	2,436,919		$	1,089,918
Less: Capitalized Interest Expense		(23,970	)		(57,741	)		(76,300	)		(54,919	)		(42,628	)		(29,324	)
Add: Fixed Charges		155,616			315,702			237,590			181,426			117,568			96,228
Income Tax Provision		446,586			818,676			247,322			325,384			1,309,620			540,950
TOTAL EARNINGS AVAILABLE FOR FIXED CHARGES	$	1,298,019		$	2,167,760		$	569,266		$	998,518		$	3,821,479		$	1,697,772
FIXED CHARGES:
Interest Expense		97,419			197,572		$	125,073		$	97,751		$	49,899		$	45,628
Capitalized Interest		23,970			57,741			76,300			54,919			42,628			29,324
Capitalized Expenses Related to Indebtedness		3,625			12,791			4,513			3,150			1,759			1,150
Rental Expense Representative of Interest Factor		30,602			47,598			31,704			25,606			23,282			20,126
TOTAL FIXED CHARGES		155,616			315,702			237,590			181,426			117,568			96,228
Preferred Stock Dividends on a Pretax Basis		—			—			—			—			681			9,970
COMBINED TOTAL FIXED CHARGES ANDPREFERRED STOCK DIVIDENDS	$	155,616		$	315,702		$	237,590		$	181,426		$	118,249		$	106,198
RATIO OF EARNINGS TOFIXED CHARGES		8.34			6.87			2.40			5.50			32.50			17.64
RATIO OF EARNINGS TOCOMBINED FIXED CHARGESAND PREFERRED STOCK DIVIDENDS		8.34			6.87			2.40			5.50			32.32			15.99