EXHIBIT 99.1

Table of Contents
Fourth Quarter 2022
Supplemental Financial and Operating Data	Page
Income Statements	15
Wellhead Volumes and Prices	16
Balance Sheets	17
Cash Flows Statements	18
Non-GAAP Financial Measures	19
Adjusted Net Income (Loss)	20
Adjusted Net Income Per Share	25
Net Income Per Share	29
Cash Flow from Operations and Free Cash Flow	33
Net Debt-to-Total Capitalization Ratio	35
Proved Reserves and Reserve Replacement Data	36
Reserve Replacement Cost Data	37

14

Income Statements
In millions of USD, except share data (in millions) and per share data (Unaudited)
	4Q 2022	3Q 2022	4Q 2021	FY 2022	FY 2021
Operating Revenues and Other
Crude Oil and Condensate	3,670	4,109	3,246	16,367	11,125
Natural Gas Liquids	497	693	583	2,648	1,812
Natural Gas	830	1,235	847	3,781	2,444
Gains (Losses) on Mark-to-Market Financial Commodity Derivative Contracts, Net	233	(18)	136	(3,982)	(1,152)
Gathering, Processing and Marketing	1,497	1,561	1,232	6,696	4,288
Gains (Losses) on Asset Dispositions, Net	(27)	(21)	(29)	74	17
Other, Net	19	34	29	118	108
Total	6,719	7,593	6,044	25,702	18,642
Operating Expenses
Lease and Well	354	335	325	1,331	1,135
Transportation Costs	237	257	228	966	863
Gathering and Processing Costs	158	167	147	621	559
Exploration Costs	44	35	42	159	154
Dry Hole Costs	4	18	43	45	71
Impairments	142	94	206	382	376
Marketing Costs	1,504	1,621	1,160	6,535	4,173
Depreciation, Depletion and Amortization	878	906	910	3,542	3,651
General and Administrative	156	162	139	570	511
Taxes Other Than Income	389	334	316	1,585	1,047
Total	3,866	3,929	3,516	15,736	12,540
Operating Income	2,853	3,664	2,528	9,966	6,102
Other Income, Net	48	40	9	114	9
Income Before Interest Expense and Income Taxes	2,901	3,704	2,537	10,080	6,111
Interest Expense, Net	42	41	38	179	178
Income Before Income Taxes	2,859	3,663	2,499	9,901	5,933
Income Tax Provision	582	809	514	2,142	1,269
Net Income	2,277	2,854	1,985	7,759	4,664
Dividends Declared per Common Share	2.3250	2.2500	2.7500	8.8750	4.9875
Net Income Per Share
Basic	3.90	4.90	3.42	13.31	8.03
Diluted	3.87	4.86	3.39	13.22	7.99
Average Number of Common Shares
Basic	584	583	581	583	581
Diluted	588	587	585	587	584

15

Wellhead Volumes and Prices
(Unaudited)
	4Q 2022		4Q 2021		% Change		3Q 2022			FY 2022			FY 2021		% Change
Crude Oil and Condensate Volumes (MBbld) (A)
United States	465.1		449.7		3	%	464.6			460.7			443.4		4	%
Trinidad	0.5		0.9		-44	%	0.5			0.6			1.5		-60	%
Other International (B)	—		—				—			—			0.1		-100	%
Total	465.6		450.6		3	%	465.1			461.3			445.0		4	%
Average Crude Oil and Condensate Prices ($/Bbl) (C)
United States	$	85.68	$	78.31	9	%	$	96.05		$	97.22		$	68.54	42	%
Trinidad	75.21		66.86		12	%	84.98			86.16			56.26		53	%
Other International (B)	—		—				—			—			42.36		-100	%
Composite	85.67		78.29		9	%	96.04			97.21			68.50		42	%
Natural Gas Liquids Volumes (MBbld) (A)
United States	189.0		156.9		20	%	209.3			197.7			144.5		37	%
Total	189.0		156.9		20	%	209.3			197.7			144.5		37	%
Average Natural Gas Liquids Prices ($/Bbl) (C)
United States	$	28.55	$	40.40	-29	%	$	36.02		$	36.70		$	34.35	7	%
Composite	28.55		40.40		-29	%	36.02			36.70			34.35		7	%
Natural Gas Volumes (MMcfd) (A)
United States	1,378		1,328		4	%	1,306			1,315			1,210		9	%
Trinidad	149		206		-28	%	163			180			217		-17	%
Other International (B)	—		—				—			—			9		-100	%
Total	1,527		1,534		0	%	1,469			1,495			1,436		4	%
Average Natural Gas Prices ($/Mcf) (C)
United States	$	6.12	$	6.40	-4	%	$	9.35		$	7.27		$	4.88	49	%
Trinidad	3.97		3.48		14	%	7.45		(E)	4.43		(E)	3.40		30	%
Other International (B)	—		—				—			—			5.67		-100	%
Composite	5.91		6.00		-2	%	9.14			6.93			4.66		49	%
Crude Oil Equivalent Volumes (MBoed) (D)
United States	883.8		827.8		7	%	891.6			877.5			789.6		11	%
Trinidad	25.3		35.3		-28	%	27.6			30.7			37.7		-19	%
Other International (B)	—		—				—			—			1.6		-100	%
Total	909.1		863.1		5	%	919.2			908.2			828.9		10	%
Total MMBoe (D)	83.6		79.4		5	%	84.6			331.5			302.5		10	%

(A)Thousand barrels per day or million cubic feet per day, as applicable.

(B)Other International includes EOG's China and Canada operations. The China operations were sold in the second quarter of 2021.

(C)Dollars per barrel or per thousand cubic feet, as applicable. Excludes the impact of financial commodity derivative instruments (see Note 12 to the Consolidated Financial Statements in EOG's Annual Report on Form 10-K for the year ended December 31, 2022).

(D)Thousand barrels of oil equivalent per day or million barrels of oil equivalent, as applicable; includes crude oil and condensate, NGLs and natural gas. Crude oil equivalent volumes are determined using a ratio of 1.0 barrel of crude oil and condensate or NGLs to 6.0 thousand cubic feet of natural gas. MMBoe is calculated by multiplying the MBoed amount by the number of days in the period and then dividing that amount by one thousand.

(E)Includes revenue adjustment of $3.37 per Mcf and $0.76 per Mcf ($0.37 per Mcf and $0.09 per Mcf of EOG's composite wellhead natural gas price) for the three months ended September 30, 2022 and the twelve months ended December 31, 2022, respectively, related to a price adjustment per a provision of the natural gas sales contract with NGC amended in July 2022 for natural gas sales during the period from September 2020 through June 2022.

16

Balance Sheets
In millions of USD, except share data (Unaudited)
	December 31,	December 31,
	2022	2021
Current Assets
Cash and Cash Equivalents	5,972	5,209
Accounts Receivable, Net	2,774	2,335
Inventories	1,058	584
Income Taxes Receivable	97	—
Other	574	456
Total	10,475	8,584
Property, Plant and Equipment
Oil and Gas Properties (Successful Efforts Method)	67,322	67,644
Other Property, Plant and Equipment	4,786	4,753
Total Property, Plant and Equipment	72,108	72,397
Less: Accumulated Depreciation, Depletion and Amortization	(42,679)	(43,971)
Total Property, Plant and Equipment, Net	29,429	28,426
Deferred Income Taxes	33	11
Other Assets	1,434	1,215
Total Assets	41,371	38,236
Current Liabilities
Accounts Payable	2,532	2,242
Accrued Taxes Payable	405	518
Dividends Payable	482	436
Liabilities from Price Risk Management Activities	169	269
Current Portion of Long-Term Debt	1,283	37
Current Portion of Operating Lease Liabilities	296	240
Other	346	300
Total	5,513	4,042
Long-Term Debt	3,795	5,072
Other Liabilities	2,574	2,193
Deferred Income Taxes	4,710	4,749
Commitments and Contingencies
Stockholders' Equity
Common Stock, $0.01 Par, 1,280,000,000 Shares Authorized and 588,396,757 Shares and 585,521,512 Shares Issued at December 31, 2022 and 2021, respectively	206	206
Additional Paid in Capital	6,187	6,087
Accumulated Other Comprehensive Loss	(8)	(12)
Retained Earnings	18,472	15,919
Common Stock Held in Treasury, 700,281 Shares and 257,268 Shares at December 31, 2022 and 2021, respectively	(78)	(20)
Total Stockholders' Equity	24,779	22,180
Total Liabilities and Stockholders' Equity	41,371	38,236

17

Cash Flows Statements
In millions of USD (Unaudited)
	4Q 2022	3Q 2022	4Q 2021	FY 2022	FY 2021
Cash Flows from Operating Activities
Reconciliation of Net Income to Net Cash Provided by Operating Activities:
Net Income	2,277	2,854	1,985	7,759	4,664
Items Not Requiring (Providing) Cash
Depreciation, Depletion and Amortization	878	906	910	3,542	3,651
Impairments	142	94	206	382	376
Stock-Based Compensation Expenses	34	34	35	133	152
Deferred Income Taxes	179	327	122	(61)	(122)
(Gains) Losses on Asset Dispositions, Net	27	21	29	(74)	(17)
Other, Net	15	(5)	(2)	—	13
Dry Hole Costs	4	18	43	45	71
Mark-to-Market Financial Commodity Derivative Contracts (Gains) Losses, Net	(233)	18	(136)	3,982	1,152
Net Cash Payments for Settlements of Financial Commodity Derivative Contracts	(244)	(847)	(122)	(3,501)	(638)
Other, Net	12	12	(1)	45	7
Changes in Components of Working Capital and Other Assets and Liabilities
Accounts Receivable	661	392	(182)	(347)	(821)
Inventories	(223)	(140)	(108)	(534)	(13)
Accounts Payable	(211)	(88)	341	90	456
Accrued Taxes Payable	(137)	(53)	26	(113)	312
Other Assets	(93)	(129)	(81)	(364)	(136)
Other Liabilities	282	1,269	201	(266)	(116)
Changes in Components of Working Capital Associated with Investing Activities	74	90	(100)	375	(200)
Net Cash Provided by Operating Activities	3,444	4,773	3,166	11,093	8,791
Investing Cash Flows
Additions to Oil and Gas Properties	(1,229)	(1,102)	(949)	(4,619)	(3,638)
Additions to Other Property, Plant and Equipment	(133)	(103)	(65)	(381)	(212)
Proceeds from Sales of Assets	39	79	77	349	231
Other Investing Activities	—	—	—	(30)	—
Changes in Components of Working Capital Associated with Investing Activities	(74)	(90)	100	(375)	200
Net Cash Used in Investing Activities	(1,397)	(1,216)	(837)	(5,056)	(3,419)
Financing Cash Flows
Long-Term Debt Repayments	—	—	—	—	(750)
Dividends Paid	(1,327)	(1,312)	(1,406)	(5,148)	(2,684)
Treasury Stock Purchased	(23)	(37)	(8)	(118)	(41)
Proceeds from Stock Options Exercised and Employee Stock Purchase Plan	11	—	10	28	19
Repayment of Finance Lease Liabilities	(8)	(8)	(10)	(35)	(37)
Net Cash Used in Financing Activities	(1,347)	(1,357)	(1,414)	(5,273)	(3,493)
Effect of Exchange Rate Changes on Cash	—	(1)	1	(1)	1
Increase in Cash and Cash Equivalents	700	2,199	916	763	1,880
Cash and Cash Equivalents at Beginning of Period	5,272	3,073	4,293	5,209	3,329
Cash and Cash Equivalents at End of Period	5,972	5,272	5,209	5,972	5,209

18

Non-GAAP Financial Measures

To supplement the presentation of its financial results prepared in accordance with generally accepted accounting principles in the United States of America (GAAP), EOG’s quarterly earnings releases and related conference calls, accompanying investor presentation slides and presentation slides for investor conferences contain certain financial measures that are not prepared or presented in accordance with GAAP. These non-GAAP financial measures may include, but are not limited to, Adjusted Net Income (Loss), Cash Flow from Operations Before Working Capital, Free Cash Flow, Net Debt and related statistics.

A reconciliation of each of these measures to their most directly comparable GAAP financial measure and related discussion is included in the tables on the following pages and can also be found in the “Reconciliations & Guidance” section of the “Investors” page of the EOG website at www.eogresources.com.

As further discussed in the tables on the following pages, EOG believes these measures may be useful to investors who follow the practice of some industry analysts who make certain adjustments to GAAP measures (for example, to exclude non-recurring items) to facilitate comparisons to others in EOG’s industry, and who utilize non-GAAP measures in their calculations of certain statistics (for example, return on capital employed and return on equity) used to evaluate EOG’s performance.

EOG believes that the non-GAAP measures presented, when viewed in combination with its financial and operating results prepared in accordance with GAAP, provide a more complete understanding of the factors and trends affecting the company’s performance. As is discussed in the tables on the following pages, EOG uses these non-GAAP measures for purposes of (i) comparing EOG’s financial and operating performance with the financial and operating performance of other companies in the industry and (ii) analyzing EOG’s financial and operating performance across periods.

The non-GAAP measures presented should not be considered in isolation, and should not be considered as a substitute for, or as an alternative to, EOG’s reported Net Income (Loss), Long-Term Debt (including Current Portion of Long-Term Debt), Net Cash Provided by Operating Activities and other financial results calculated in accordance with GAAP. The non-GAAP measures presented should be read in conjunction with EOG's consolidated financial statements prepared in accordance with GAAP.

In addition, because not all companies use identical calculations, EOG’s presentation of non-GAAP measures may not be comparable to, and may be calculated differently from, similarly titled measures disclosed by other companies, including its peer companies. EOG may also change the calculation of one or more of its non-GAAP measures from time to time – for example, to account for changes in its business and operations or to more closely conform to peer company or industry analysts’ practices.

19

Adjusted Net Income (Loss)
In millions of USD, except share data (in millions) and per share data (Unaudited)
The following tables adjust the reported Net Income (Loss) (GAAP) to reflect actual net cash received from (payments for) settlements of financial commodity derivative contracts by eliminating the unrealized mark-to-market (gains) losses from these transactions, to eliminate the net (gains) losses on asset dispositions, to add back impairment charges related to certain of EOG's assets (which are generally (i) attributable to declines in commodity prices, (ii) related to sales of certain oil and gas properties or (iii) the result of certain other events or decisions (e.g., a periodic review of EOG's oil and gas properties or other assets), and to make certain other adjustments to exclude non-recurring and certain other items as further described below. EOG believes this presentation may be useful to investors who follow the practice of some industry analysts who adjust reported company earnings to match hedge realizations to production settlement months and make certain other adjustments to exclude non-recurring and certain other items. EOG management uses this information for purposes of comparing its financial performance with the financial performance of other companies in the industry.
	4Q 2022
	Before Tax	Income Tax Impact	After Tax		Diluted Earnings per Share
Reported Net Income (GAAP)	2,859	(582)	2,277		3.87
Adjustments:
Gains on Mark-to-Market Financial Commodity Derivative Contracts, Net	(233)	57	(176)		(0.31)
Net Cash Payments for Settlements of Financial Commodity Derivative Contracts (1)	(244)	48	(196)		(0.33)
Less: Losses on Asset Dispositions, Net	27	(6)	21		0.04
Add: Certain Impairments	31	(16)	15		0.03
Adjustments to Net Income	(419)	83	(336)		(0.57)
Adjusted Net Income (Non-GAAP)	2,440	(499)	1,941		3.30
Average Number of Common Shares (Non-GAAP)
Basic					584
Diluted					588

(1) Consistent with its customary practice, in calculating Adjusted Net Income (Loss) (non-GAAP), EOG subtracts from reported Net Income (Loss) (GAAP) the total net cash paid for settlements of financial commodity derivative contracts during such period. For the three months ended December 31, 2022, such amount was $244 million.

20

Adjusted Net Income (Loss) (Continued)
In millions of USD, except share data (in millions) and per share data (Unaudited)
	3Q 2022
	Before Tax	Income Tax Impact	After Tax		Diluted Earnings per Share
Reported Net Income (GAAP)	3,663	(809)	2,854		4.86
Adjustments:
Losses on Mark-to-Market Financial Commodity Derivative Contracts, Net	18	(4)	14		0.03
Net Cash Payments for Settlements of Financial Commodity Derivative Contracts (1)	(847)	184	(663)		(1.13)
Add: Losses on Asset Dispositions, Net	21	(3)	18		0.03
Add: Certain Impairments	46	(8)	38		0.06
Less: Severance Tax Refund	(115)	25	(90)		(0.15)
Add: Severance Tax Consulting Fees	16	(3)	13		0.02
Less: Interest on Severance Tax Refund	(7)	2	(5)		(0.01)
Adjustments to Net Income	(868)	193	(675)		(1.15)
Adjusted Net Income (Non-GAAP)	2,795	(616)	2,179		3.71
Average Number of Common Shares (Non-GAAP)
Basic					583
Diluted					587

(1) Consistent with its customary practice, in calculating Adjusted Net Income (Loss) (non-GAAP), EOG subtracts from reported Net Income (Loss) (GAAP) the total net cash paid for settlements of financial commodity derivative contracts during such period. For the three months ended September 30, 2022, such amount was $847 million, of which $63 million was related to the early termination of certain contracts.

21

Adjusted Net Income (Loss) (Continued)
	4Q 2021
	Before Tax	Income Tax Impact	After Tax		Diluted Earnings per Share
Reported Net Income (GAAP)	2,499	(514)	1,985		3.39
Adjustments:
Gains on Mark-to-Market Financial Commodity Derivative Contracts, Net	(136)	32	(104)		(0.17)
Net Cash Payments for Settlements of Financial Commodity Derivative Contracts (1)	(122)	25	(97)		(0.17)
Add: Losses on Asset Dispositions, Net	29	(7)	22		0.04
Add: Certain Impairments	—	—	—		—
Adjustments to Net Income	(229)	50	(179)		(0.30)
Adjusted Net Income (Non-GAAP)	2,270	(464)	1,806		3.09
Average Number of Common Shares (Non-GAAP)
Basic					581
Diluted					585

(1) Consistent with its customary practice, in calculating Adjusted Net Income (Loss) (non-GAAP), EOG subtracts from reported Net Income (Loss) (GAAP) the total net cash paid for settlements of financial commodity derivative contracts during such period. For the three months ended December 31, 2021, such amount was $122 million.

22

Adjusted Net Income (Loss) (Continued)
In millions of USD, except share data (in millions) and per share data (Unaudited)
	FY 2022
	Before Tax	Income Tax Impact	After Tax		Diluted Earnings per Share
Reported Net Income (GAAP)	9,901	(2,142)	7,759		13.22
Adjustments:
Losses on Mark-to-Market Financial Commodity Derivative Contracts, Net	3,982	(858)	3,124		5.32
Net Cash Payments for Settlements of Financial Commodity Derivative Contracts (1)	(3,501)	755	(2,746)		(4.68)
Less: Gains on Asset Dispositions, Net	(74)	17	(57)		(0.10)
Add: Certain Impairments	113	(31)	82		0.14
Less: Severance Tax Refund	(115)	25	(90)		(0.15)
Add: Severance Tax Consulting Fees	16	(3)	13		0.02
Less: Interest on Severance Tax Refund	(7)	2	(5)		(0.01)
Adjustments to Net Income	414	(93)	321		0.54
Adjusted Net Income (Non-GAAP)	10,315	(2,235)	8,080		13.76
Average Number of Common Shares (Non-GAAP)
Basic					583
Diluted					587

(1) Consistent with its customary practice, in calculating Adjusted Net Income (Loss) (non-GAAP), EOG subtracts from reported Net Income (Loss) (GAAP) the total net cash paid for settlements of financial commodity derivative contracts during such period. For the twelve months ended December 31, 2022, such amount was $3,501 million, of which $1,391 million was related to the early termination of certain contracts.

23

Adjusted Net Income (Loss) (Continued)
In millions of USD, except share data (in millions) and per share data (Unaudited)
	FY 2021
	Before Tax	Income Tax Impact	After Tax		Diluted Earnings per Share
Reported Net Income (GAAP)	5,933	(1,269)	4,664		7.99
Adjustments:
Losses on Mark-to-Market Financial Commodity Derivative Contracts, Net	1,152	(250)	902		1.54
Net Cash Payments for Settlements of Financial Commodity Derivative Contracts (1)	(638)	138	(500)		(0.86)
Less: Gains on Asset Dispositions, Net	(17)	9	(8)		(0.01)
Add: Certain Impairments	15	—	15		0.03
Less: Tax Benefits Related to Exiting Canada Operations	—	(45)	(45)		(0.08)
Adjustments to Net Income	512	(148)	364		0.62
Adjusted Net Income (Non-GAAP)	6,445	(1,417)	5,028		8.61
Average Number of Common Shares (Non-GAAP)
Basic					581
Diluted					584

(1) Consistent with its customary practice, in calculating Adjusted Net Income (Loss) (non-GAAP), EOG subtracts from reported Net Income (Loss) (GAAP) the total net cash paid for settlements of financial commodity derivative contracts during such period. For the twelve months ended December 31, 2021, such amount was $638 million.

24

Adjusted Net Income Per Share
In millions of USD, except share data (in millions), per share data, production volume data and per Boe data (Unaudited)
3Q 2022 Adjusted Net Income per Share (Non-GAAP)		3.71
Realized Price
4Q 2022 Composite Average Wellhead Revenue per Boe	59.74
Less: 3Q 2022 Composite Average Wellhead Revenue per Boe	(71.40)
Subtotal	(11.66)
Multiplied by: 4Q 2022 Crude Oil Equivalent Volumes (MMBoe)	83.6
Total Change in Revenue	(975)
Less: Income Tax Benefit (Provision) Imputed (based on 23%)	224
Change in Net Income	(751)
Change in Diluted Earnings per Share		(1.28)
Wellhead Volumes
4Q 2022 Crude Oil Equivalent Volumes (MMBoe)	83.6
Less: 3Q 2022 Crude Oil Equivalent Volumes (MMBoe)	(84.6)
Subtotal	(1.0)
Multiplied by: 4Q 2022 Composite Average Margin per Boe (Non-GAAP) (Including Total Exploration Costs) (refer to "Revenues, Costs and Margins Per Barrel of Oil Equivalent" schedule)	31.37
Change in Revenue	(31)
Less: Income Tax Benefit (Provision) Imputed (based on 23%)	7
Change in Net Income	(24)
Change in Diluted Earnings per Share		(0.04)
Certain Operating Costs per Boe
3Q 2022 Total Cash Operating Costs (Non-GAAP) and Total DD&A per Boe (refer to "Revenues, Costs and Margins Per Barrel of Oil Equivalent" schedule)	21.41
Less: 4Q 2022 Total Cash Operating Costs (Non-GAAP) and Total DD&A per Boe (refer to "Revenues, Costs and Margins Per Barrel of Oil Equivalent" schedule)	(21.32)
Subtotal	0.09
Multiplied by: 4Q 2022 Crude Oil Equivalent Volumes (MMBoe)	83.6
Change in Before-Tax Net Income	8
Less: Income Tax Benefit (Provision) Imputed (based on 23%)	(2)
Change in Net Income	6
Change in Diluted Earnings per Share		0.01

25

Adjusted Net Income Per Share (Continued)
In millions of USD, except share data (in millions), per share data, production volume data and per Boe data (Unaudited)
Net Cash Received from (Payments for) Settlements of Financial Commodity Derivative Contracts
4Q 2022 Net Cash Received from (Payments for) Settlement of Financial Commodity Derivative Contracts	(244)
Less: Income Tax Benefit (Provision)	48
After Tax - (a)	(196)
3Q 2022 Net Cash Received from (Payments for) Settlement of Financial Commodity Derivative Contracts	(847)
Less: Income Tax Benefit (Provision)	184
After Tax - (b)	(663)
Change in Net Income - (a) - (b)	467
Change in Diluted Earnings per Share		0.79
Other (1)		0.11
4Q 2022 Adjusted Net Income per Share (Non-GAAP)		3.30
4Q 2022 Average Number of Common Shares (Non-GAAP) - Diluted	588

(1)Includes gathering, processing and marketing revenue, gains (losses) on asset dispositions, other revenue, exploration, dry hole, impairments and marketing costs, taxes other than income, other income (expense), interest expense and the impact of changes in the effective income tax rate.

26

Adjusted Net Income per Share
In millions of USD, except share data (in millions), per share data, production volume data and per Boe data (Unaudited)
FY 2021 Adjusted Net Income per Share (Non-GAAP)		8.61
Realized Price
FY 2022 Composite Average Wellhead Revenue per Boe	68.77
Less: FY 2021 Composite Average Wellhead Revenue per Boe	(50.84)
Subtotal	17.93
Multiplied by: FY 2022 Crude Oil Equivalent Volumes (MMBoe)	331.5
Total Change in Revenue	5,944
Less: Income Tax Benefit (Provision) Imputed (based on 23%)	(1,367)
Change in Net Income	4,577
Change in Diluted Earnings per Share		7.80
Wellhead Volumes
FY 2022 Crude Oil Equivalent Volumes (MMBoe)	331.5
Less: FY 2021 Crude Oil Equivalent Volumes (MMBoe)	(302.5)
Subtotal	29.0
Multiplied by: FY 2022 Composite Average Margin per Boe (Non-GAAP) (Including Total Exploration Costs) (refer to "Revenues, Costs and Margins Per Barrel of Oil Equivalent" schedule)	40.51
Change in Revenue	1,175
Less: Income Tax Benefit (Provision) Imputed (based on 23%)	(270)
Change in Net Income	905
Change in Diluted Earnings per Share		1.54
Certain Operating Costs per Boe
FY 2021 Total Cash Operating Costs (Non-GAAP) and Total DD&A per Boe (refer to "Revenues, Costs and Margins Per Barrel of Oil Equivalent" schedule)	22.21
Less: FY 2022 Total Cash Operating Costs (Non-GAAP) and Total DD&A per Boe (refer to "Revenues, Costs and Margins Per Barrel of Oil Equivalent" schedule)	(21.16)
Subtotal	1.05
Multiplied by: FY 2022 Crude Oil Equivalent Volumes (MMBoe)	331.5
Change in Before-Tax Net Income	348
Less: Income Tax Benefit (Provision) Imputed (based on 23%)	(80)
Change in Net Income	268
Change in Diluted Earnings per Share		0.46

27

Adjusted Net Income Per Share (Continued)
In millions of USD, except share data (in millions), per share data, production volume data and per Boe data (Unaudited)
Net Cash Received from (Payments for) Settlements of Financial Commodity Derivative Contracts
FY 2022 Net Cash Received from (Payments for) Settlement of Financial Commodity Derivative Contracts	(3,501)
Less: Income Tax Benefit (Provision)	755
After Tax - (a)	(2,746)
FY 2021 Net Cash Received from (Payments for) Settlement of Financial Commodity Derivative Contracts	(638)
Less: Income Tax Benefit (Provision)	138
After Tax - (b)	(500)
Change in Net Income - (a) - (b)	(2,246)
Change in Diluted Earnings per Share		(3.83)
Other (1)		(0.82)
FY 2022 Adjusted Net Income per Share (Non-GAAP)		13.76
FY 2022 Average Number of Common Shares (Non-GAAP) - Diluted	587

(1)Includes gathering, processing and marketing revenue, gains (losses) on asset dispositions, other revenue, exploration, dry hole, impairments and marketing costs, taxes other than income, other income (expense), interest expense and the impact of changes in the effective income tax rate.

28

Net Income per Share
In millions of USD, except share data (in millions), per share data, production volume data and per Boe data (Unaudited)
3Q 2022 Net Income per Share (GAAP)		4.86
Realized Price
4Q 2022 Composite Average Wellhead Revenue per Boe	59.74
Less: 3Q 2022 Composite Average Wellhead Revenue per Boe	(71.40)
Subtotal	(11.66)
Multiplied by: 4Q 2022 Crude Oil Equivalent Volumes (MMBoe)	83.6
Total Change in Revenue	(975)
Less: Income Tax Benefit (Provision) Imputed (based on 23%)	224
Change in Net Income	(751)
Change in Diluted Earnings per Share		(1.28)
Wellhead Volumes
4Q 2022 Crude Oil Equivalent Volumes (MMBoe)	83.6
Less: 3Q 2022 Crude Oil Equivalent Volumes (MMBoe)	(84.6)
Subtotal	(1.0)
Multiplied by: 4Q 2022 Composite Average Margin per Boe (Non-GAAP) (Including Total Exploration Costs) (refer to "Revenues, Costs and Margins Per Barrel of Oil Equivalent" schedule)	31.37
Change in Revenue	(31)
Less: Income Tax Benefit (Provision) Imputed (based on 23%)	7
Change in Net Income	(24)
Change in Diluted Earnings per Share		(0.04)
Certain Operating Costs per Boe
3Q 2022 Total Cash Operating Costs (GAAP) and Total DD&A per Boe (refer to "Revenues, Costs and Margins Per Barrel of Oil Equivalent" schedule)	21.60
Less: 4Q 2022 Total Cash Operating Costs (GAAP) and Total DD&A per Boe (refer to "Revenues, Costs and Margins Per Barrel of Oil Equivalent" schedule)	(21.32)
Subtotal	0.28
Multiplied by: 4Q 2022 Crude Oil Equivalent Volumes (MMBoe)	83.6
Change in Before-Tax Net Income	23
Less: Income Tax Benefit (Provision) Imputed (based on 23%)	(5)
Change in Net Income	18
Change in Diluted Earnings per Share		0.03

29

Net Income Per Share (Continued)
In millions of USD, except share data (in millions), per share data, production volume data and per Boe data (Unaudited)
Gains (Losses) on Mark-to-Market Financial Commodity Derivative Contracts, Net
4Q 2022 Net Gains (Losses) on Mark-to-Market Financial Commodity Derivative Contracts	233
Less: 3Q 2022 Net (Gains) Losses on Mark-to-Market Financial Commodity Derivative Contracts	18
Subtotal	251
Less: Income Tax Benefit (Provision) Imputed (based on 23%)	(58)
Change in Net Income	193
Change in Diluted Earnings per Share		0.33
Other (1)		(0.03)
4Q 2022 Net Income per Share (GAAP)		3.87
4Q 2022 Average Number of Common Shares (GAAP) - Diluted	588

(1)Includes gathering, processing and marketing revenue, gains (losses) on asset dispositions, other revenue, exploration, dry hole, impairments and marketing costs, taxes other than income, other income (expense), interest expense and the impact of changes in the effective income tax rate.

30

Net Income per Share
In millions of USD, except share data (in millions), per share data, production volume data and per Boe data (Unaudited)
FY 2021 Net Income per Share (GAAP)		7.99
Realized Price
FY 2022 Composite Average Wellhead Revenue per Boe	68.77
Less: FY 2021 Composite Average Wellhead Revenue per Boe	(50.84)
Subtotal	17.93
Multiplied by: FY 2022 Crude Oil Equivalent Volumes (MMBoe)	331.5
Total Change in Revenue	5,944
Less: Income Tax Benefit (Provision) Imputed (based on 23%)	(1,367)
Change in Net Income	4,577
Change in Diluted Earnings per Share		7.80
Wellhead Volumes
FY 2022 Crude Oil Equivalent Volumes (MMBoe)	331.5
Less: FY 2021 Crude Oil Equivalent Volumes (MMBoe)	(302.5)
Subtotal	29.0
Multiplied by: FY 2022 Composite Average Margin per Boe (Non-GAAP) (Including Total Exploration Costs) (refer to "Revenues, Costs and Margins Per Barrel of Oil Equivalent" schedule)	40.51
Change in Revenue	1,175
Less: Income Tax Benefit (Provision) Imputed (based on 23%)	(270)
Change in Net Income	905
Change in Diluted Earnings per Share		1.54
Certain Operating Costs per Boe
FY 2021 Total Cash Operating Costs (GAAP) and Total DD&A per Boe (refer to "Revenues, Costs and Margins Per Barrel of Oil Equivalent" schedule)	22.21
Less: FY 2022 Total Cash Operating Costs (GAAP) and Total DD&A per Boe (refer to "Revenues, Costs and Margins Per Barrel of Oil Equivalent" schedule)	(21.21)
Subtotal	1.00
Multiplied by: FY 2022 Crude Oil Equivalent Volumes (MMBoe)	331.5
Change in Before-Tax Net Income	332
Less: Income Tax Benefit (Provision) Imputed (based on 23%)	(76)
Change in Net Income	256
Change in Diluted Earnings per Share		0.44

31

Net Income Per Share (Continued)
In millions of USD, except share data (in millions), per share data, production volume data and per Boe data (Unaudited)
Gains (Losses) on Mark-to-Market Financial Commodity Derivative Contracts, Net
FY 2022 Net Gains (Losses) on Mark-to-Market Financial Commodity Derivative Contracts	(3,982)
Less: FY 2021 Net (Gains) Losses on Mark-to-Market Financial Commodity Derivative Contracts	1,152
Subtotal	(2,830)
Less: Income Tax Benefit (Provision) Imputed (based on 23%)	651
Change in Net Income	(2,179)
Change in Diluted Earnings per Share		(3.71)
Other (1)		(0.84)
FY 2022 Net Income per Share (GAAP)		13.22
FY 2022 Average Number of Common Shares (GAAP) - Diluted	587

(1)Includes gathering, processing and marketing revenue, gains (losses) on asset dispositions, other revenue, exploration, dry hole, impairments and marketing costs, taxes other than income, other income (expense), interest expense and the impact of changes in the effective income tax rate.

32

Cash Flow from Operations and Free Cash Flow
In millions of USD (Unaudited)
The following tables reconcile Net Cash Provided by Operating Activities (GAAP) to Cash Flow from Operations Before Working Capital (Non-GAAP). EOG believes this presentation may be useful to investors who follow the practice of some industry analysts who adjust Net Cash Provided by Operating Activities for Changes in Components of Working Capital and Other Assets and Liabilities, Changes in Components of Working Capital Associated with Investing and Financing Activities and certain other adjustments to exclude non-recurring and certain other items as further described below. EOG defines Free Cash Flow (Non-GAAP) for a given period as Cash Flow from Operations Before Working Capital (Non-GAAP) (see below reconciliation) for such period less the total capital expenditures (Non-GAAP) during such period, as is illustrated below. EOG management uses this information for comparative purposes within the industry. To further the comparability of EOG’s financial results with those of EOG’s peer companies and other companies in the industry, EOG now utilizes Cash Flow from Operations Before Working Capital (Non-GAAP), instead of Discretionary Cash Flow (Non-GAAP), in calculating its Free Cash Flow (Non-GAAP). Accordingly, Free Cash Flow (Non-GAAP) for the fourth, third, second and first quarter of 2022 and twelve-month period ended December 31 2022, have been calculated on such basis, and the calculations of Free Cash Flow (Non-GAAP) for each of the prior periods shown have been revised and conformed.
	4Q 2022	3Q 2022	2Q 2022	1Q 2022		4Q 2021
Net Cash Provided by Operating Activities (GAAP)	3,444	4,773	2,048	828		3,166
Adjustments:
Changes in Components of Working Capital and Other Assets and Liabilities
Accounts Receivable	(661)	(392)	522	878		182
Inventories	223	140	157	14		108
Accounts Payable	211	88	(259)	(130)		(341)
Accrued Taxes Payable	137	53	536	(613)		(26)
Other Assets	93	129	(71)	213		81
Other Liabilities	(282)	(1,269)	(433)	2,250		(201)
Changes in Components of Working Capital Associated with Investing Activities	(74)	(90)	(143)	(68)		100
Cash Flow from Operations Before Working Capital (Non-GAAP)	3,091	3,432	2,357	3,372		3,069
Cash Flow from Operations Before Working Capital (Non-GAAP)	3,091	3,432	2,357	3,372		3,069
Less:
Total Capital Expenditures (Non-GAAP) (a)	(1,361)	(1,166)	(1,071)	(1,009)		(1,015)
Free Cash Flow (Non-GAAP)	1,730	2,266	1,286	2,363		2,054
(a) See below reconciliation of Total Expenditures (GAAP) to Total Capital Expenditures (Non-GAAP):
	4Q 2022	3Q 2022	2Q 2022	1Q 2022		4Q 2021
Total Expenditures (GAAP)	1,535	1,410	1,521	1,144		1,137
Less:
Asset Retirement Costs	(89)	(139)	(43)	(27)		(71)
Non-Cash Acquisition Costs of Unproved Properties	(20)	(28)	(21)	(58)		(8)
Acquisition Costs of Proved Properties	(21)	(42)	(351)	(5)		(1)
Exploration Costs	(44)	(35)	(35)	(45)		(42)
Total Capital Expenditures (Non-GAAP)	1,361	1,166	1,071	1,009		1,015

33

Cash Flow from Operations and Free Cash Flow (Continued)
In millions of USD (Unaudited)
	FY 2022		FY 2021
Net Cash Provided by Operating Activities (GAAP)	11,093		8,791
Adjustments:
Changes in Components of Working Capital and Other Assets and Liabilities
Accounts Receivable	347		821
Inventories	534		13
Accounts Payable	(90)		(456)
Accrued Taxes Payable	113		(312)
Other Assets	364		136
Other Liabilities	266		116
Changes in Components of Working Capital Associated with Investing Activities	(375)		200
Cash Flow from Operations Before Working Capital (Non-GAAP)	12,252		9,309
Cash Flow from Operations Before Working Capital (Non-GAAP)	12,252		9,309
Less:
Total Capital Expenditures (Non-GAAP) (a)	(4,607)		(3,755)
Free Cash Flow (Non-GAAP)	7,645		5,554
(a) See below reconciliation of Total Expenditures (GAAP) to Total Capital Expenditures (Non-GAAP):
	FY 2022		FY 2021
Total Expenditures (GAAP)	5,610		4,255
Less:
Asset Retirement Costs	(298)		(127)
Non-Cash Acquisition Costs of Unproved Properties	(127)		(45)
Non-Cash Finance Leases	—		(74)
Acquisition Costs of Proved Properties	(419)		(100)
Exploration Costs	(159)		(154)
Total Capital Expenditures (Non-GAAP)	4,607		3,755

34

Net Debt-to-Total Capitalization Ratio
In millions of USD, except ratio data (Unaudited)
The following tables reconcile Current and Long-Term Debt (GAAP) to Net Debt (Non-GAAP) and Total Capitalization (GAAP) to Total Capitalization (Non-GAAP), as used in the Net Debt-to-Total Capitalization ratio calculation. A portion of the cash is associated with international subsidiaries; tax considerations may impact debt paydown. EOG believes this presentation may be useful to investors who follow the practice of some industry analysts who utilize Net Debt and Total Capitalization (Non-GAAP) in their Net Debt-to-Total Capitalization ratio calculation. EOG management uses this information for comparative purposes within the industry.
	December 31, 2022		September 30, 2022		June 30, 2022		March 31, 2022		December 31, 2021
Total Stockholders' Equity - (a)	24,779		23,849		22,312		21,540		22,180
Current and Long-Term Debt (GAAP) - (b)	5,078		5,084		5,091		5,099		5,109
Less: Cash	(5,972)		(5,272)		(3,073)		(4,009)		(5,209)
Net Debt (Non-GAAP) - (c)	(894)		(188)		2,018		1,090		(100)
Total Capitalization (GAAP) - (a) + (b)	29,857		28,933		27,403		26,639		27,289
Total Capitalization (Non-GAAP) - (a) + (c)	23,885		23,661		24,330		22,630		22,080
Debt-to-Total Capitalization (GAAP) - (b) / [(a) + (b)]	17.0	%	17.6	%	18.6	%	19.1	%	18.7	%
Net Debt-to-Total Capitalization (Non-GAAP) - (c) / [(a) + (c)]	-3.7	%	-0.8	%	8.3	%	4.8	%	-0.5	%

35

Proved Reserves and Reserve Replacement Data
(Unaudited)
2022 Net Proved Reserves Reconciliation Summary	United States		Trinidad		Other International		Total
Crude Oil and Condensate (MMBbl)
Beginning Reserves	1,546		2		—		1,548
Revisions	120		—		—		120
Purchases in Place	7		—		—		7
Extensions, Discoveries and Other Additions	175		—		—		175
Sales in Place	(21)		—		—		(21)
Production	(168)		—		—		(168)
Ending Reserves	1,659		2		—		1,661
Natural Gas Liquids (MMBbl)
Beginning Reserves	829		—		—		829
Revisions	258		—		—		258
Purchases in Place	4		—		—		4
Extensions, Discoveries and Other Additions	140		—		—		140
Sales in Place	(14)		—		—		(14)
Production	(72)		—		—		(72)
Ending Reserves	1,145		—		—		1,145
Natural Gas (Bcf)
Beginning Reserves	7,907		315		—		8,222
Revisions	(271)		18		—		(253)
Purchases in Place	32		—		—		32
Extensions, Discoveries and Other Additions	1,414		51		—		1,465
Sales in Place	(316)		—		—		(316)
Production	(493)		(66)		—		(559)
Ending Reserves	8,273		318		—		8,591
Oil Equivalents (MMBoe)
Beginning Reserves	3,693		54		—		3,747
Revisions	333		3		—		336
Purchases in Place	16		—		—		16
Extensions, Discoveries and Other Additions	551		9		—		560
Sales in Place	(88)		—		—		(88)
Production	(322)		(11)		—		(333)
Ending Reserves	4,183		55		—		4,238
Net Proved Developed Reserves (MMBoe)
At December 31, 2021	1,926		22		—		1,948
At December 31, 2022	2,162		23		—		2,185
2022 Exploration and Development Expenditures ($ Millions)
Acquisition Cost of Unproved Properties	186		—		—		186
Exploration Costs	263		84		17		364
Development Costs	3,898		64		—		3,962
Total Drilling	4,347		148		17		4,512
Acquisition Cost of Proved Properties	419		—		—		419
Asset Retirement Costs	208		81		9		298
Total Exploration and Development Expenditures	4,974		229		26		5,229
Gathering, Processing and Other	381		1		(1)		381
Total Expenditures	5,355		230		25		5,610
Proceeds from Sales in Place	(349)		—		—		(349)
Net Expenditures	5,006		230		25		5,261
Reserve Replacement Costs ($ / Boe) *
All-in Total, Net of Revisions	4.96		11.92		—		5.06
All-in Total, Excluding Revisions Due to Price	5.03		11.92		—		5.13
Reserve Replacement *
Drilling Only	171	%	82	%	0	%	168	%
All-in Total, Net of Revisions and Dispositions	252	%	109	%	0	%	247	%
All-in Total, Excluding Revisions Due to Price	249	%	109	%	0	%	244	%
All-in Total, Liquids	279	%	0	%	0	%	279	%
* See following reconciliation schedule for calculation methodology

36

Reserve Replacement Cost Data
(Unaudited; in millions, except ratio data)
For the Twelve Months Ended December 31, 2022	United States		Trinidad		Other International		Total
Total Costs Incurred in Exploration and Development Activities (GAAP)	4,974		229		26		5,229
Less: Asset Retirement Costs	(208)		(81)		(9)		(298)
Non-Cash Acquisition Costs of Unproved Properties	(127)		—		—		(127)
Total Acquisition Costs of Proved Properties	(419)		—		—		(419)
Exploration Expenses	(145)		(5)		(9)		(159)
Total Exploration and Development Expenditures for Drilling Only (Non-GAAP) - (a)	4,075		143		8		4,226
Total Costs Incurred in Exploration and Development Activities (GAAP)	4,974		229		26		5,229
Less: Asset Retirement Costs	(208)		(81)		(9)		(298)
Non-Cash Acquisition Costs of Unproved Properties	(127)		—		—		(127)
Non-Cash Acquisition Costs of Proved Properties	(26)		—		—		(26)
Exploration Expenses	(145)		(5)		(9)		(159)
Total Exploration and Development Expenditures (Non-GAAP) - (b)	4,468		143		8		4,619
Total Expenditures (GAAP)	5,355		230		25		5,610
Less: Asset Retirement Costs	(208)		(81)		(9)		(298)
Non-Cash Acquisition Costs of Unproved Properties	(127)		—		—		(127)
Non-Cash Acquisition Costs of Proved Properties	(26)		—		—		(26)
Exploration Expenses	(145)		(5)		(9)		(159)
Total Cash Expenditures (Non-GAAP)	4,849		144		7		5,000
Net Proved Reserve Additions From All Sources - Oil Equivalents (MMBoe)
Revisions Due to Price - (c)	11		—		—		11
Revisions Other Than Price	322		3		—		325
Purchases in Place	16		—		—		16
Extensions, Discoveries and Other Additions - (d)	551		9		—		560
Total Proved Reserve Additions - (e)	900		12		—		912
Sales in Place	(88)		—		—		(88)
Net Proved Reserve Additions From All Sources - (f)	812		12		—		824
Production - (g)	322		11		—		333
Reserve Replacement Costs ($ / Boe)
Total Drilling, Before Revisions - (a / d)	7.40		15.89		—		7.55
All-in Total, Net of Revisions - (b / e)	4.96		11.92		—		5.06
All-in Total, Excluding Revisions Due to Price - (b / (e - c))	5.03		11.92		—		5.13
Reserve Replacement
Drilling Only - (d / g)	171	%	82	%	0	%	168	%
All-in Total, Net of Revisions and Dispositions - (f / g)	252	%	109	%	0	%	247	%
All-in Total, Excluding Revisions Due to Price - ((f - c) / g)	249	%	109	%	0	%	244	%

37

Reserve Replacement Cost Data (Continued)
(Unaudited; in millions, except ratio data)
For the Twelve Months Ended December 31, 2022	United States		Trinidad		Other International		Total
Net Proved Reserve Additions From All Sources - Liquids (MMBbl)
Revisions	378		—		—		378
Purchases in Place	11		—		—		11
Extensions, Discoveries and Other Additions - (h)	315		—		—		315
Total Proved Reserve Additions	704		—		—		704
Sales in Place	(35)		—		—		(35)
Net Proved Reserve Additions From All Sources - (i)	669		—		—		669
Production - (j)	240		—		—		240
Reserve Replacement - Liquids
Drilling Only - (h / j)	131	%	0	%	0	%	131	%
All-in Total, Net of Revisions and Dispositions - (i / j)	279	%	0	%	0	%	279	%

38

Reserve Replacement Cost Data (Continued)
(Unaudited; in millions, except ratio data)
For the Twelve Months Ended December 31, 2022
Proved Developed Reserve Replacement Costs ($ / Boe)	Total
Total Costs Incurred in Exploration and Development Activities (GAAP)	5,229
Less: Asset Retirement Costs	(298)
Acquisition Costs of Unproved Properties	(186)
Acquisition Costs of Proved Properties	(419)
Exploration Expenses	(159)
Drillbit Exploration and Development Expenditures (Non-GAAP) - (k)	4,167
Total Proved Reserves - Extensions, Discoveries and Other Additions (MMBoe)	560
Add: Conversion of Proved Undeveloped Reserves to Proved Developed	293
Less: Proved Undeveloped Extensions and Discoveries	(410)
Proved Developed Reserves - Extensions and Discoveries (MMBoe)	443
Total Proved Reserves - Revisions (MMBoe)	336
Less: Proved Undeveloped Reserves - Revisions	(141)
Proved Developed - Revisions Due to Price	(9)
Proved Developed Reserves - Revisions Other Than Price (MMBoe)	186
Proved Developed Reserves - Extensions and Discoveries Plus Revisions Other Than Price (MMBoe) - (l)	629
Proved Developed Reserve Replacement Costs Excluding Revisions Due to Price ($ / Boe) - (k / l)	6.62

39

Reserve Replacement Cost Data
In millions of USD, except reserves and ratio data (Unaudited)
The following table reconciles Total Costs Incurred in Exploration and Development Activities (GAAP) to Total Exploration and Development Expenditures for Drilling Only (Non-GAAP) and Total Exploration and Development Expenditures (Non-GAAP), as used in the calculation of Reserve Replacement Costs per Boe. There are numerous ways that industry participants present Reserve Replacement Costs, including “Drilling Only” and “All-In”, which reflect total exploration and development expenditures divided by total net proved reserve additions from extensions and discoveries only, or from all sources. Combined with Reserve Replacement, these statistics (and the non-GAAP measures used in calculating such statistics) provide management and investors with an indication of the results of the current year capital investment program. Reserve Replacement Cost statistics (and the non-GAAP measures used in calculating such statistics) are widely recognized and reported by industry participants and are used by EOG management and other third parties for comparative purposes within the industry. Please note that the actual cost of adding reserves will vary from the reported statistics due to timing differences in reserve bookings and capital expenditures. Accordingly, some analysts use three or five year averages of reported statistics, while others prefer to estimate future costs. EOG has not included future capital costs to develop proved undeveloped reserves in exploration and development expenditures. In addition, to further the comparability of the results of EOG’s current-year capital investment program with those of EOG’s peer companies and other companies in the industry, EOG now deducts Exploration Expenses, as illustrated below, in calculating Total Exploration and Development Expenditures for Drilling Only (Non-GAAP), Total Exploration and Development Expenditures (Non-GAAP), Total Cash Expenditures (Non-GAAP), Drillbit Exploration and Development Expenditures (Non-GAAP) and the related Reserve Replacement Costs metrics. Accordingly, Total Exploration and Development Expenditures for Drilling Only (Non-GAAP), Total Exploration and Development Expenditures (Non-GAAP), Total Cash Expenditures (Non-GAAP), Drillbit Exploration and Development Expenditures (Non-GAAP) and the related Reserve Replacement Costs metrics, in each case for fiscal year 2022, have been calculated on such basis, and the calculations for each of the prior periods shown have been revised and conformed.
	2022	2021		2020
Total Costs Incurred in Exploration and Development Activities (GAAP)	5,229	3,969		3,718
Less: Asset Retirement Costs	(298)	(127)		(117)
Non-Cash Acquisition Costs of Unproved Properties	(127)	(45)		(197)
Acquisition Costs of Proved Properties	(419)	(100)		(135)
Exploration Expenses	(159)	(154)		(146)
Total Exploration and Development Expenditures for Drilling Only (Non-GAAP) - (a)	4,226	3,543		3,123
Total Costs Incurred in Exploration and Development Activities (GAAP)	5,229	3,969		3,718
Less: Asset Retirement Costs	(298)	(127)		(117)
Non-Cash Acquisition Costs of Unproved Properties	(127)	(45)		(197)
Non-Cash Acquisition Costs of Proved Properties	(26)	(5)		(15)
Exploration Expenses	(159)	(154)		(146)
Total Exploration and Development Expenditures (Non-GAAP) - (b)	4,619	3,638		3,243
Net Proved Reserve Additions From All Sources - Oil Equivalents (MMBoe)
Revisions Due to Price - (c)	11	194		(278)
Revisions Other Than Price	325	(308)		(89)
Purchases in Place	16	9		10
Extensions, Discoveries and Other Additions - (d)	560	952		564
Total Proved Reserve Additions - (e)	912	847		207
Sales in Place	(88)	(11)		(31)
Net Proved Reserve Additions From All Sources	824	836		176
Production	333	309		285
Reserve Replacement Costs ($ / Boe)
Total Drilling, Before Revisions - (a / d)	7.55	3.72		5.54
All-in Total, Net of Revisions - (b / e)	5.06	4.30		15.67
All-in Total, Excluding Revisions Due to Price - (b / ( e - c))	5.13	5.57		6.69

40

Reserve Replacement Cost Data (Continued)
In millions of USD, except reserves and ratio data (Unaudited)
	2019	2018		2017
Total Costs Incurred in Exploration and Development Activities (GAAP)	6,628	6,420		4,440
Less: Asset Retirement Costs	(186)	(70)		(56)
Non-Cash Acquisition Costs of Unproved Properties	(98)	(291)		(256)
Acquisition Costs of Proved Properties	(380)	(124)		(73)
Exploration Expenses	(140)	(149)		(145)
Total Exploration and Development Expenditures for Drilling Only (Non-GAAP) - (a)	5,824	5,786		3,910
Total Costs Incurred in Exploration and Development Activities (GAAP)	6,628	6,420		4,440
Less: Asset Retirement Costs	(186)	(70)		(56)
Non-Cash Acquisition Costs of Unproved Properties	(98)	(291)		(256)
Non-Cash Acquisition Costs of Proved Properties	(52)	(71)		(26)
Exploration Expenses	(140)	(149)		(145)
Total Exploration and Development Expenditures (Non-GAAP) - (b)	6,152	5,839		3,957
Net Proved Reserve Additions From All Sources - Oil Equivalents (MMBoe)
Revisions Due to Price - (c)	(60)	35		154
Revisions Other Than Price	—	(40)		48
Purchases in Place	17	12		2
Extensions, Discoveries and Other Additions - (d)	750	670		421
Total Proved Reserve Additions - (e)	707	677		625
Sales in Place	(5)	(11)		(21)
Net Proved Reserve Additions From All Sources	702	666		604
Production	301	265		224
Reserve Replacement Costs ($ / Boe)
Total Drilling, Before Revisions - (a / d)	7.77	8.64		9.29
All-in Total, Net of Revisions - (b / e)	8.70	8.62		6.33
All-in Total, Excluding Revisions Due to Price - (b / ( e - c))	8.02	9.10		8.40

Definitions
$/Boe	U.S. Dollars per barrel of oil equivalent
MMBoe	Million barrels of oil equivalent

41