Accounting For Certain Long-Lived Assets (Notes)

12 Months Ended

Dec. 31, 2019

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 2019, proved oil and gas properties with a carrying amount of $408 million were written down to their fair value of $201 million, resulting in pretax impairment charges of $207 million. During 2018, proved oil and gas properties with a carrying amount of $139 million were written down to their fair value of $18 million, resulting in pretax impairment charges of $121 million. Impairments in 2019, 2018 and 2017 included domestic legacy natural gas assets. Amortization and impairments of unproved oil and gas property costs, including amortization of capitalized interest, were $220 million, $173 million and $211 million during 2019, 2018 and 2017, respectively.