Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2012

Fair Value Assets and Liabilities Measured On Recurring Basis

The following table provides fair value measurement information within the fair value hierarchy for certain of EOG's financial assets and liabilities carried at fair value on a recurring basis at March 31, 2012 and December 31, 2011 (in millions):

	Fair Value Measurements Using:
	Quoted		Significant
	Prices in		Other		Significant
	Active		Observable		Unobservable
	Markets		Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
At March 31, 2012
Financial Assets:
Natural Gas Derivative Contracts	$	-	$	80	$	-	$	80
Natural Gas Options/Swaptions		-		432		-		432

Financial Liabilities:
Crude Oil Derivative Contracts	$	-	$	4	$	-	$	4
Crude Oil Options/Swaptions		-		22		-		22
Foreign Currency Rate Swap		-		54		-		54
Interest Rate Swap		-		4		-		4

At December 31, 2011
Financial Assets:
Crude Oil and Natural Gas Derivative Contracts	$	-	$	110	$	-	$	110
Crude Oil and Natural Gas Options/Swaptions		-		376		-		376

Financial Liabilities:
Foreign Currency Rate Swap	$	-	$	52	$	-	$	52
Interest Rate Swap		-		3		-		3