Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Measurements [Abstract]

Fair Value Assets and Liabilities Measured On Recurring Basis

As more fully discussed in Note 12 to the Consolidated Financial Statements included in EOG's 2011 Annual Report, certain of EOG's financial and nonfinancial assets and liabilities are reported at fair value on the Consolidated Balance Sheets.  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 June 30, 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 June 30, 2012
Financial Assets:
Crude Oil Derivative Contracts	$	-	$	54	$	-	$	54
Crude Oil Options/Swaptions		-		86		-		86
Natural Gas Derivative Contracts		-		45		-		45
Natural Gas Options/Swaptions		-		279		-		279
Financial Liabilities:
Foreign Currency Rate Swap	$	-	$	51	$	-	$	51
Interest Rate Swap		-		4		-		4
At December 31, 2011
Financial Assets:
Crude Oil Derivative Contracts	$	-	$	29	$	-	$	29
Crude Oil Options/Swaptions		-		4		-		4
Natural Gas Derivative Contracts		-		81		-		81
Natural Gas Options/Swaptions		-		372		-		372
Financial Liabilities:
Foreign Currency Rate Swap	$	-	$	52	$	-	$	52
Interest Rate Swap		-		3		-		3