Risk Management Activities (Tables)

12 Months Ended

Dec. 31, 2011

Notes To Financial Statements [Abstract]

Derivative Contracts Table

Commodity Derivative Contracts.  Presented below is a comprehensive summary of EOG's crude oil derivative contracts at December 31, 2011, with notional volumes expressed in barrels per day (Bbld) and prices expressed in dollars per barrel ($/Bbl)

Crude Oil Derivative Contracts
			Weighted
	Volume		Average Price
	(Bbld)		($/Bbl)
2012 (1)
January 1, 2012 through June 30, 2012		34,000	$	104.95
July 1, 2012 through December 31, 2012		17,000		103.59

(1)   EOG has entered into crude oil derivative contracts which give counterparties the option to extend certain current derivative contracts for an additional six-month period.  Such options are exercisable on June 29, 2012. If the counterparties exercise all such options, the notional volume of EOG's existing crude oil derivative contracts will increase by 17,000 Bbld at an average price of $106.31 per barrel for the period July 1, 2012 through December 31, 2012.

Presented below is a comprehensive summary of EOG's natural gas derivative contracts as of December 31, 2011, with notional volumes expressed in million British thermal units (MMBtu) per day (MMBtud) and prices expressed in dollars per MMBtu ($/MMBtu).

Natural Gas Derivative Contracts
	Volume (MMBtud)		Weighted Average Price ($/MMBtu)
2012 (1)
January 2012 (closed)		525,000	$	5.44
February 1, 2012 through December 31, 2012		525,000		5.44
2013 (2)
January 1, 2013 through December 31, 2013		150,000	$	4.79
2014 (2)
January 1, 2014 through December 31, 2014		150,000	$	4.79

(1) EOG has entered into natural gas derivative contracts which give counterparties the option of entering into derivative contracts at future dates.  Such options are exercisable monthly up until the settlement date of each monthly contract.  If the counterparties exercise all such options, the notional volume of EOG's existing natural gas derivative contracts will increase by 425,000 MMBtud at an average price of $5.44 per MMBtu for the period from February 1, 2012 through December 31, 2012.

(2) EOG has entered into natural gas derivative contracts which give counterparties the option of entering into derivative contracts at future dates.  Such options are exercisable monthly up until the settlement date of each monthly contract.  If the counterparties exercise all such options, the notional volume of EOG's existing natural gas derivative contracts will increase by 150,000 MMBtud at an average price of $4.79 per MMBtu for each month of 2013 and 2014.

Schedule of Derivative Instruments In Statement Of Financial Position, Fair Value Table

The following table sets forth the amounts, on a gross basis, and classification of EOG's outstanding derivative financial instruments at December 31, 2011 and 2010, respectively.  Certain amounts may be presented on a net basis on the consolidated financial statements when such amounts are with the same counterparty and subject to a master netting arrangement (in millions):

		Fair Value at December 31,
Description	Location on Balance Sheet	2011		2010
Asset Derivatives
Crude oil and natural gas derivative contracts -
Current portion	Assets from Price Risk Management Activities	$	451	$	51
Noncurrent portion	Other Assets	$	35	$	18
Liability Derivatives
Crude oil and natural gas derivative contracts -
Current portion	Liabilities from Price Risk Management Activities	$	-	$	30
Foreign currency swap -
Noncurrent portion	Other Liabilities	$	53	$	55
Interest rate swap -
Noncurrent portion	Other Assets	$	-	$	2
Other Liabilities		$	3	$	-