v2.4.0.6

Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2012
Fair Value Measurements [Abstract] |
Fair Value Assets and Liabilities Measured On Recurring Basis | As more fully discussed in Note 12 to the Consolidated Financial Statements included in EOG's 2011 Annual Report, certain of EOG's financial and nonfinancial assets and liabilities are reported at fair value on the Consolidated Balance Sheets. The following table provides fair value measurement information within the fair value hierarchy for certain of EOG's financial assets and liabilities carried at fair value on a recurring basis at September 30, 2012 and December 31, 2011 (in millions):
|  | Fair Value Measurements Using: |
|  | Quoted |  |  | Significant |  |  |  |  |  |  |
|  | Prices in |  |  | Other |  |  | Significant |  |  |  |
|  | Active |  |  | Observable |  |  | Unobservable |  |  |  |
|  | Markets |  |  | Inputs |  |  | Inputs |  |  |  |
|  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |  |  | Total |
At September 30, 2012 |  |  |  |  |  |  |  |  |  |  |  |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |
Crude Oil Derivative Contracts |  | $ | - |  |  | $ | 75 |  |  | $ | - |  |  | $ | 75 |
Crude Oil Options/Swaptions |  |  | - |  |  |  | 39 |  |  |  | - |  |  |  | 39 |
Natural Gas Derivative Contracts |  |  | - |  |  |  | 20 |  |  |  | - |  |  |  | 20 |
Natural Gas Options/Swaptions |  |  | - |  |  |  | 118 |  |  |  | - |  |  |  | 118 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Crude Oil Options/Swaptions |  | $ | - |  |  | $ | 1 |  |  | $ | - |  |  | $ | 1 |
Natural Gas Options/Swaptions |  |  | - |  |  |  | 6 |  |  |  | - |  |  |  | 6 |
Foreign Currency Rate Swap |  |  | - |  |  |  | 57 |  |  |  | - |  |  |  | 57 |
Interest Rate Swap |  |  | - |  |  |  | 4 |  |  |  | - |  |  |  | 4 |
At December 31, 2011 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Crude Oil Derivative Contracts |  | $ | - |  |  | $ | 29 |  |  | $ | - |  |  | $ | 29 |
Crude Oil Options/Swaptions |  |  | - |  |  |  | 4 |  |  |  | - |  |  |  | 4 |
Natural Gas Derivative Contracts |  |  | - |  |  |  | 81 |  |  |  | - |  |  |  | 81 |
Natural Gas Options/Swaptions |  |  | - |  |  |  | 372 |  |  |  | - |  |  |  | 372 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign Currency Rate Swap |  | $ | - |  |  | $ | 52 |  |  | $ | - |  |  | $ | 52 |
Interest Rate Swap |  |  | - |  |  |  | 3 |  |  |  | - |  |  |  | 3 |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 + Details
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