v2.4.0.6

Asset Retirement Obligations

12 Months Ended

Dec. 31, 2012

Asset Retirement Obligations [Abstract]

Asset Retirement Obligations [Text Block]

14.  Asset Retirement Obligations

The following table presents the reconciliation of the beginning and ending aggregate carrying amounts of short-term and long-term legal obligations associated with the retirement of property, plant and equipment for the years ended December 31, 2012 and 2011 (in thousands):

			2012		2011
Carrying Amount at Beginning of Period		$	587,084	$	498,288
	Liabilities Incurred		107,378		68,703
	Liabilities Settled (1)		(77,384)		(66,129)
	Accretion		30,020		27,907
	Revisions		15,287		58,786
	Foreign Currency Translations		3,559		(471)
Carrying Amount at End of Period		$	665,944	$	587,084
Current Portion		$	30,127	$	29,527
Noncurrent Portion		$	635,817	$	557,557

(1) Includes settlements related to asset sales.

The current and noncurrent portions of EOG's asset retirement obligations are included in Current Liabilities - Other and Other Liabilities, respectively, on the Consolidated Balance Sheets.

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- Definition

The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 410

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6392692&loc=d3e7535-110849



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 410

-SubTopic 20

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6392692&loc=d3e7569-110849



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 143

-Paragraph 22

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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