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Risk Management Activities (Tables)
 3 Months Ended
Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments Presented below is a comprehensive summary of EOG's financial commodity derivative contracts settled during the three-month period ended March 31, 2023 (closed) and outstanding as of March 31, 2023. Crude oil volumes are presented in thousand barrels per day (MBbld) and prices are presented in dollars per barrel ($/Bbl). Natural gas volumes are presented in million British Thermal Units per day (MMBtud) and prices are presented in dollars per million British Thermal Units ($/MMBtu).
Crude Oil Financial Price Swap Contracts
Contracts SoldContracts Purchased
PeriodSettlement IndexVolume
(MBbld)		Weighted Average Price
($/Bbl)		Volume (MBbld)Weighted Average Price
($/Bbl)
January - March 2023 (closed)New York Mercantile Exchange (NYMEX) West Texas Intermediate (WTI)95 $67.90 6 $102.26 
April - May 2023NYMEX WTI91 67.63 2 98.15 
June 2023NYMEX WTI2 69.10 2 98.15 




Natural Gas Financial Price Swap Contracts
Contracts Sold
PeriodSettlement IndexVolume
(MMBtud in thousands)		Weighted Average Price
($/MMBtu)
January - April 2023 (closed)NYMEX Henry Hub300 $3.36 
May - December 2023NYMEX Henry Hub300 3.36 
January - December 2024NYMEX Henry Hub725 3.07 
January - December 2025NYMEX Henry Hub725 3.07 
Natural Gas Basis Swap Contracts
Contracts Sold
PeriodSettlement IndexVolume
(MMBtud in thousands)		Weighted Average Price Differential
($/MMBtu)
January - March 2023 (closed)
NYMEX Henry Hub Houston Ship Channel (HSC) Differential (1)
135 $0.01 
April - December 2023NYMEX Henry Hub HSC Differential135 0.01 
January - December 2024NYMEX Henry Hub HSC Differential10 0.00 
January - December 2025NYMEX Henry Hub HSC Differential10 0.00 
(1)    This settlement index is used to fix the differential between pricing at the Houston Ship Channel and NYMEX Henry Hub prices.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value The following table sets forth the amounts and classification of EOG's outstanding financial commodity derivative instruments at March 31, 2023 and December 31, 2022. Certain amounts may be presented on a net basis on the Condensed Consolidated Financial Statements when such amounts are with the same counterparty and subject to a master netting arrangement (in millions):
   Fair Value at
DescriptionLocation on Balance SheetMarch 31, 2023December 31, 2022
Liability Derivatives
Crude oil, NGLs and natural gas derivative contracts -
Current portion
Liabilities from Price Risk Management Activities (1)
$31 $169 
Noncurrent portion
Other Liabilities (2)
376 371 
(1)    The current portion of Liabilities from Price Risk Management Activities consists of gross liabilities of $63 million, partially offset by gross assets of $32 million and no collateral posted at March 31, 2023. The current portion of Liabilities from Price Risk Management Activities consists of gross liabilities of $287 million, partially offset by gross assets of $26 million and collateral posted with counterparties of $92 million, at December 31, 2022.
(2)    The noncurrent portion of Liabilities from Price Risk Management Activities consists of gross liabilities of $377 million, partially offset by gross assets of $1 million and no collateral posted at March 31, 2023. The noncurrent portion of Liabilities from Price Risk Management Activities consists of gross liabilities of $606 million, partially offset by gross assets of $3 million and collateral posted with counterparties of $232 million, at December 31, 2022.