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CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Revenues and Other      
Gains (Losses) on Asset Dispositions, Net $ 74 $ 17 $ (47)
Total 25,702 [1] 18,642 [2] 11,032 [3]
Operating Expenses      
Lease and Well 1,331 1,135 1,063
Transportation Costs 966 863 735
Gathering and Processing Costs 621 559 459
Exploration Costs 159 154 146
Dry Hole Costs 45 71 13
Impairments 382 376 2,100
Marketing Costs 6,535 4,173 2,698
Depreciation, Depletion and Amortization 3,542 3,651 3,400
General and Administrative 570 511 484
Taxes Other Than Income 1,585 1,047 478
Total 15,736 12,540 11,576
Operating Income (Loss) 9,966 [4] 6,102 [5] (544) [6]
Other Income, Net 114 9 10
Income (Loss) Before Interest Expense and Income Taxes 10,080 6,111 (534)
Interest Expense      
Incurred 215 211 236
Capitalized (36) (33) (31)
Net Interest Expense 179 178 205
Income (Loss) Before Income Taxes 9,901 5,933 (739)
Income Tax Provision (Benefit) 2,142 1,269 (134)
Net Income (Loss) $ 7,759 $ 4,664 $ (605)
Net Income (Loss) Per Share      
Basic ( in usd per share) $ 13.31 $ 8.03 $ (1.04)
Diluted (in usd per share) $ 13.22 $ 7.99 $ (1.04)
Average Number of Common Shares      
Basic (in shares) 583 581 579
Diluted (in shares) 587 584 579
Other Comprehensive Income (Loss)      
Foreign Currency Translation Adjustments $ 4 $ (1) $ (7)
Other, Net of Tax 0 1 0
Other Comprehensive Income (Loss) 4 0 (7)
Comprehensive Income (Loss) 7,763 4,664 (612)
Crude Oil and Condensate      
Operating Revenues and Other      
Revenue from contract with customer 16,367 11,125 5,786
Natural Gas Liquids      
Operating Revenues and Other      
Revenue from contract with customer 2,648 1,812 668
Natural Gas      
Operating Revenues and Other      
Revenue from contract with customer 3,781 2,444 837
Gains (Losses) on Mark-to-Market Financial Commodity Derivative Contracts, Net      
Operating Revenues and Other      
Revenue not from contract with customer (3,982) (1,152) 1,145
Gathering, Processing and Marketing      
Operating Revenues and Other      
Revenue from contract with customer 6,696 4,288 2,583
Other, Net      
Operating Revenues and Other      
Revenue not from contract with customer $ 118 $ 108 $ 60
[1] EOG had sales activity with three significant purchasers in 2022, one totaling $3.3 billion, another totaling $3.1 billion and a third totaling $3.0 billion of consolidated Operating Revenues and Other in the United States segment.
[2] EOG had sales activity with two significant purchasers in 2021, one totaling $2.7 billion and the other totaling $2.6 billion of consolidated Operating Revenues and Other in the United States segment.
[3] EOG had sales activity with three significant purchasers in 2020, each totaling $1.1 billion of consolidated Operating Revenues and Other in the United States segment.
[4] EOG recorded pretax impairment charges of $15 million in 2022 for proved oil and gas properties and firm commitment contracts related to its decision to exit the Horn River Basin in British Columbia, Canada, in the Other International segment. See Note 14.
[5] EOG recorded pretax impairment charges of $45 million and dry hole costs of $42 million in 2021 in the Other International segment related to its decision in the fourth quarter of 2021 to exit Block 36 and Block 49 in Oman. In addition, EOG recorded net gains of asset dispositions of $58 million in 2021 in the Other International segment during the second quarter of 2021 due to the sale of its China operations. See Notes 14 and 17, respectively.
[6] EOG recorded pretax impairment charges of $1,570 million in 2020 for proved oil and gas properties, leasehold costs and other assets due to the decline in commodity prices and revisions of asset retirement obligations for certain properties in the United States segment. In addition, EOG recorded pretax impairment charges of $228 million in 2020 for owned and leased sand and crude-by-rail assets, also in the United States segment. EOG recorded pretax impairment charges of $81 million in 2020 for proved oil and gas properties and firm commitment contracts related to its decision to exit the Horn River Basin in British Columbia, Canada, in the Other International segment. See Notes 13 and 14.