Risk Management Activities (Tables)

12 Months Ended

Dec. 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 year ended December 31, 2023 (closed) and remaining for 2024 and thereafter, as of December 31, 2023. Crude oil volumes are presented in MBbld and prices are presented in $/Bbl. Natural gas volumes are presented in MMBtu per day (MMBtud) and prices are presented in dollars per MMBtu ($/MMBtu).

Crude Oil Financial Price Swap Contracts
		Contracts Sold			Contracts Purchased
Period	Settlement Index	Volume (MBbld)	Weighted Average Price ($/Bbl)		Volume (MBbld)	Weighted Average Price ($/Bbl)
January - March 2023 (closed)	NYMEX WTI	95	$	67.90	6	$	102.26
April - May 2023 (closed)	NYMEX WTI	91	67.63		2	98.15
June 2023 (closed)	NYMEX WTI	2	69.10		2	98.15

Natural Gas Financial Price Swap Contracts
		Contracts Sold
Period	Settlement Index	Volume (MMBtud in thousands)	Weighted Average Price ($/MMBtu)
January 2023 - December 2023 (closed)	NYMEX Henry Hub	300	$	3.36
January 2024 (closed)	NYMEX Henry Hub	725	3.07
February - December 2024	NYMEX Henry Hub	725	3.07
January - December 2025	NYMEX Henry Hub	725	3.07

Natural Gas Basis Swap Contracts
		Contracts Sold
Period	Settlement Index	Volume (MMBtud in thousands)	Weighted Average Price Differential ($/MMBtu)
January - December 2023 (closed)	NYMEX Henry Hub Houston Ship Channel (HSC) Differential (1)	135	$	0.01
January - December 2024	NYMEX Henry Hub HSC Differential	10	0.00
January - December 2025	NYMEX Henry Hub HSC Differential	10	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 derivative financial instruments at December 31, 2023 and 2022, respectively.  Certain amounts may be presented on a net basis on the consolidated financial statements when such amounts are with the same counterparty and subject to a master netting arrangement (in millions):

		Fair Value at December 31,
Description	Location on Balance Sheet	2023		2022
Asset Derivatives
Crude oil, NGLs and natural gas financial derivative contracts -
Current portion	Assets from Price Risk Management (1)	$	106	$	—
Liability Derivatives
Crude oil, NGLs and natural gas financial derivative contracts -
Current portion	Liabilities from Price Risk Management Activities	$	—	$	169
Noncurrent Portion	Other Liabilities (2)	103		371

(1)    The current portion of Assets from Price Risk Management Activities consists of gross assets of $106 million at December 31, 2023.

(2)    The noncurrent portion of Liabilities from Price Risk Management Activities consists of gross liabilities of $104 million, partially offset by gross assets of $1 million, at December 31, 2023.