Accounting For Certain Long-Lived Assets (Notes)

12 Months Ended

Dec. 31, 2017

Accounting For Certain Long-Lived Assets [Abstract]

Accounting For Certain Long-Lived Assets

Accounting for Certain Long-Lived Assets

EOG reviews its proved oil and gas properties for impairment purposes by comparing the expected undiscounted future cash flows at a depreciation, depletion and amortization group level to the unamortized capitalized cost of the asset.  The carrying values for assets determined to be impaired were adjusted to estimated fair value using the Income Approach described in the Fair Value Measurement Topic of the ASC. In certain instances, EOG utilizes accepted offers from third-party purchasers as the basis for determining fair value.

During 2017, proved oil and gas properties with a carrying amount of $370 million were written down to their fair value of $146 million, resulting in pretax impairment charges of $224 million. During 2016, proved oil and gas properties with a carrying amount of $643 million were written down to their fair value of $527 million, resulting in pretax impairment charges of $116 million. Impairments in 2017, 2016 and 2015 included domestic legacy natural gas assets. Amortization and impairments of unproved oil and gas property costs, including amortization of capitalized interest, were $211 million, $291 million and $288 million during 2017, 2016 and 2015, respectively.