v2.4.0.6
Oil and Gas Exploration and Production Industries Disclosures (Tables)
 12 Months Ended
Dec. 31, 2012
Oil and Gas Exploration and Production Industries Disclosures [Abstract]  
Net Proved and Proved Developed Oil and Gas Reserve Quantities [Table Text Block]
The following tables set forth EOG's net proved and proved developed reserves at December 31 for each of the four years in the period ended December 31, 2012, and the changes in the net proved reserves for each of the three years in the period ended December 31, 2012, as estimated by the Engineering and Acquisitions Department of EOG:

NET PROVED AND PROVED DEVELOPED RESERVE SUMMARY


 
United
 
 
 
 
 
Other
 
 
 
States
 
Canada
 
Trinidad
 
International (1)
 
Total
 
 
 
 
 
 
 
 
 
 
NET PROVED RESERVES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Crude Oil (MBbl) (2)
 
 
 
 
 
 
 
 
 
Net proved reserves at December 31, 2009
188,452 
 
25,586 
 
5,443 
 
58 
 
219,539 
 
Revisions of previous estimates
(8,313)
 
(104)
 
(754)
 
20 
 
(9,151)
 
Purchases in place
13 
 
- 
 
- 
 
- 
 
13 
 
Extensions, discoveries and other additions
199,479 
 
3,198 
 
1,751 
 
48 
 
204,476 
 
Sales in place
(1,082)
 
(589)
 
- 
 
- 
 
(1,671)
 
Production
(23,092)
 
(2,455)
 
(1,709)
 
(28)
 
(27,284)
Net proved reserves at December 31, 2010
355,457 
 
25,636 
 
4,731 
 
98 
 
385,922 
 
Revisions of previous estimates
(21,188)
 
(4,611)
 
18 
 
25 
 
(25,756)
 
Purchases in place
9 
 
- 
 
- 
 
- 
 
9 
 
Extensions, discoveries and other additions
202,552 
 
449 
 
- 
 
- 
 
203,001 
 
Sales in place
(4,301)
 
- 
 
- 
 
- 
 
(4,301)
 
Production
(37,233)
 
(2,882)
 
(1,242)
 
(25)
 
(41,382)
Net proved reserves at December 31, 2011
495,296 
 
18,592 
 
3,507 
 
98 
 
517,493 
 
Revisions of previous estimates
4,105 
 
(2,493)
 
71 
 
5 
 
1,688 
 
Purchases in place
1,010 
 
- 
 
- 
 
- 
 
1,010 
 
Extensions, discoveries and other additions
241,171 
 
5,681 
 
- 
 
8,834 
 
255,686 
 
Sales in place
(15,921)
 
(1,343)
 
- 
 
- 
 
(17,264)
 
Production
(54,632)
 
(2,574)
 
(550)
 
(39)
 
(57,795)
Net proved reserves at December 31, 2012
671,029 
 
17,863 
 
3,028 
 
8,898 
 
700,818 
 
 
 
 
 
 
 
 
 
 
Natural Gas Liquids (MBbl) (2)
 
 
 
 
 
 
 
 
 
Net proved reserves at December 31, 2009
91,489 
 
1,972 
 
- 
 
- 
 
93,461 
 
Revisions of previous estimates
27,490 
 
(196)
 
- 
 
- 
 
27,294 
 
Purchases in place
- 
 
- 
 
- 
 
- 
 
- 
 
Extensions, discoveries and other additions
42,221 
 
21 
 
- 
 
- 
 
42,242 
 
Sales in place
(2)
 
(6)
 
- 
 
- 
 
(8)
 
Production
(10,764)
 
(316)
 
- 
 
- 
 
(11,080)
Net proved reserves at December 31, 2010
150,434 
 
1,475 
 
- 
 
- 
 
151,909 
 
Revisions of previous estimates
35,999 
 
43 
 
- 
 
- 
 
36,042 
 
Purchases in place
17 
 
- 
 
- 
 
- 
 
17 
 
Extensions, discoveries and other additions
65,288 
 
- 
 
- 
 
- 
 
65,288 
 
Sales in place
(10,008)
 
- 
 
- 
 
- 
 
(10,008)
 
Production
(15,144)
 
(316)
 
- 
 
- 
 
(15,460)
Net proved reserves at December 31, 2011
226,586 
 
1,202 
 
- 
 
- 
 
227,788 
 
Revisions of previous estimates
47,293 
 
563 
 
- 
 
- 
 
47,856 
 
Purchases in place
612 
 
- 
 
- 
 
- 
 
612 
 
Extensions, discoveries and other additions
71,396 
 
178 
 
- 
 
- 
 
71,574 
 
Sales in place
(7,300)
 
(77)
 
- 
 
- 
 
(7,377)
 
Production
(20,181)
 
(309)
 
- 
 
- 
 
(20,490)
Net proved reserves at December 31, 2012
318,406 
 
1,557 
 
- 
 
- 
 
319,963 






EOG RESOURCES, INC.

SUPPLEMENTAL INFORMATION TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)



 
United
 
 
 
 
 
Other
 
 
 
States
 
Canada
 
Trinidad
 
International (1)
 
Total
 
 
 
 
 
 
 
 
 
 
Natural Gas (Bcf) (3)
 
 
 
 
 
 
 
 
 
Net proved reserves at December 31, 2009
6,350.1 
 
1,549.5 
 
985.8 
 
12.7 
 
8,898.1 
 
Revisions of previous estimates
(222.7)
 
(29.9)
 
(88.6)
 
1.9 
 
(339.3)
 
Purchases in place
- 
 
- 
 
- 
 
- 
 
- 
 
Extensions, discoveries and other additions
821.3 
 
3.4 
 
63.0 
 
7.9 
 
895.6 
 
Sales in place
(34.6)
 
(316.2)
 
- 
 
- 
 
(350.8)
 
Production
(422.6)
 
(73.0)
 
(132.6)
 
(5.2)
 
(633.4)
Net proved reserves at December 31, 2010
6,491.5 
 
1,133.8 
 
827.6 
 
17.3 
 
8,470.2 
 
Revisions of previous estimates
(344.0)
 
(49.8)
 
(24.2)
 
1.3 
 
(416.7)
 
Purchases in place
3.0 
 
- 
 
- 
 
- 
 
3.0 
 
Extensions, discoveries and other additions
634.6 
 
- 
 
74.7 
 
4.5 
 
713.8 
 
Sales in place
(323.6)
 
- 
 
- 
 
- 
 
(323.6)
 
Production
(415.7)
 
(48.1)
 
(127.4)
 
(4.6)
 
(595.8)
Net proved reserves at December 31, 2011
6,045.8 
 
1,035.9 
 
750.7 
 
18.5 
 
7,850.9 
 
Revisions of previous estimates
(1,736.0)
 
(894.5)
 
(24.1)
 
1.6 
 
(2,653.0)
 
Purchases in place
14.8 
 
- 
 
- 
 
- 
 
14.8 
 
Extensions, discoveries and other additions
477.8 
 
- 
 
- 
 
0.3 
 
478.1 
 
Sales in place
(386.2)
 
(8.5)
 
- 
 
- 
 
(394.7)
 
Production
(380.2)
 
(34.6)
 
(138.4)
 
(3.4)
 
(556.6)
Net proved reserves at December 31, 2012
4,036.0 
 
98.3 
 
588.2 
 
17.0 
 
4,739.5 
 
 
 
 
 
 
 
 
 
 
Oil Equivalents (MBoe) (2)
 
 
 
 
 
 
 
 
 
Net proved reserves at December 31, 2009
1,338,292 
 
285,808 
 
169,747 
 
2,172 
 
1,796,019 
 
Revisions of previous estimates
(17,945)
 
(5,288)
 
(15,513)
 
342 
 
(38,404)
 
Purchases in place
14 
 
- 
 
- 
 
- 
 
14 
 
Extensions, discoveries and other additions
378,582 
 
3,789 
 
12,250 
 
1,363 
 
395,984 
 
Sales in place
(6,860)
 
(53,288)
 
- 
 
- 
 
(60,148)
 
Production
(104,277)
 
(14,937)
 
(23,815)
 
(901)
 
(143,930)
Net proved reserves at December 31, 2010
1,587,806 
 
216,084 
 
142,669 
 
2,976 
 
1,949,535 
 
Revisions of previous estimates
(42,526)
 
(12,865)
 
(4,011)
 
239 
 
(59,163)
 
Purchases in place
521 
 
- 
 
- 
 
- 
 
521 
 
Extensions, discoveries and other additions
373,602 
 
448 
 
12,455 
 
750 
 
387,255 
 
Sales in place
(68,247)
 
- 
 
- 
 
- 
 
(68,247)
 
Production
(121,648)
 
(11,219)
 
(22,484)
 
(787)
 
(156,138)
Net proved reserves at December 31, 2011
1,729,508 
 
192,448 
 
128,629 
 
3,178 
 
2,053,763 
 
Revisions of previous estimates
(237,936)
 
(151,015)
 
(3,953)
 
283 
 
(392,621)
 
Purchases in place
4,098 
 
- 
 
- 
 
- 
 
4,098 
 
Extensions, discoveries and other additions
392,196 
 
5,860 
 
- 
 
8,876 
 
406,932 
 
Sales in place
(87,588)
 
(2,832)
 
- 
 
- 
 
(90,420)
 
Production
(138,170)
 
(8,657)
 
(23,616)
 
(611)
 
(171,054)
Net proved reserves at December 31, 2012
1,662,108 
 
35,804 
 
101,060 
 
11,726 
 
1,810,698 

(1)Other International includes EOG's United Kingdom, China and Argentina operations.
(2)Thousand barrels or thousand barrels of oil equivalent, as applicable; oil equivalents include crude oil and condensate, NGLs and natural gas.  Oil equivalents are determined using the ratio of 1.0 barrel of crude oil and condensate or NGLs to 6.0 thousand cubic feet of natural gas.
(3)Billion cubic feet.
Net Proved Developed and Net Proved Undeveloped Oil and Gas Reserve Quantities [Table Text Block]
 
United
 
 
 
 
 
Other
 
 
 
States
 
Canada
 
Trinidad
 
International (1)
 
Total
 
 
 
 
 
 
 
 
 
 
NET PROVED DEVELOPED RESERVES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liquids (MBbl)
 
 
 
 
 
 
 
 
 
 
December 31, 2009
189,322
 
10,831
 
3,966
 
58
 
204,177
 
December 31, 2010
253,308
 
12,758
 
3,853
 
98
 
270,017
 
December 31, 2011
338,144
 
9,220
 
2,657
 
97
 
350,118
 
December 31, 2012
442,648
 
7,963
 
2,378
 
253
 
453,242
Natural Gas (Bcf)
 
 
 
 
 
 
 
 
 
 
December 31, 2009
3,330.1
 
681.0
 
609.4
 
12.7
 
4,633.2
 
December 31, 2010
3,519.7
 
401.6
 
519.2
 
17.3
 
4,457.8
 
December 31, 2011
3,234.9
 
295.8
 
606.3
 
18.6
 
4,155.6
 
December 31, 2012
2,387.5
 
98.3
 
476.7
 
17.0
 
2,979.5
Oil Equivalents (MBoe)
 
 
 
 
 
 
 
 
 
 
December 31, 2009
744,339
 
124,323
 
105,540
 
2,172
 
976,374
 
December 31, 2010
839,928
 
79,701
 
90,382
 
2,976
 
1,012,987
 
December 31, 2011
877,301
 
58,524
 
103,710
 
3,178
 
1,042,713
 
December 31, 2012
840,564
 
24,348
 
81,826
 
3,081
 
949,819
 
 
 
 
 
 
 
 
 
 
NET PROVED UNDEVELOPED RESERVES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liquids (MBbl)
 
 
 
 
 
 
 
 
 
 
December 31, 2009
90,619
 
16,727
 
1,477
 
-
 
108,823
 
December 31, 2010
252,583
 
14,352
 
879
 
-
 
267,814
 
December 31, 2011
383,739
 
10,574
 
850
 
-
 
395,163
 
December 31, 2012
546,786
 
11,456
 
651
 
8,645
 
567,538
Natural Gas (Bcf)
 
 
 
 
 
 
 
 
 
 
December 31, 2009
3,020.0
 
868.5
 
376.4
 
-
 
4,264.9
 
December 31, 2010
2,971.7
 
732.2
 
308.5
 
-
 
4,012.4
 
December 31, 2011
2,810.8
 
740.1
 
144.4
 
-
 
3,695.3
 
December 31, 2012
1,648.5
 
-
 
111.5
 
-
 
1,760.0
Oil Equivalents (MBoe)
 
 
 
 
 
 
 
 
 
 
December 31, 2009
593,953
 
161,486
 
64,207
 
-
 
819,646
 
December 31, 2010
747,878
 
136,383
 
52,287
 
-
 
936,548
 
December 31, 2011
852,207
 
133,924
 
24,919
 
-
 
1,011,050
 
December 31, 2012
821,544
 
11,456
 
19,234
 
8,645
 
860,879

(1)Other International includes EOG's United Kingdom, China and Argentina operations.
Capitalized Costs Relating to Oil an d Gas Producing Activities
Capitalized Costs Relating to Oil and Gas Producing Activities.  The following table sets forth the capitalized costs relating to EOG's crude oil and natural gas producing activities at December 31, 2012 and 2011:

 
 
2012
 
2011
 
 
 
 
 
Proved properties
$
36,872,434 
$
32,353,380 
Unproved properties
 
1,253,864 
 
1,311,055 
 
Total
 
38,126,298 
 
33,664,435 
Accumulated depreciation, depletion and amortization
 
(16,849,068)
 
(13,981,143)
 
Net capitalized costs
$
21,277,230 
$
19,683,292 
Costs Incurred in Oil and Gas Property Acquisition, Exploration and Development Activities
The following table sets forth costs incurred related to EOG's oil and gas activities for the years ended December 31, 2012, 2011 and 2010:

 
 
United
 
 
 
 
 
Other
 
 
 
 
States
 
Canada
 
Trinidad
 
International (1)
 
Total
 
 
 
 
 
 
 
 
 
 
 
2012
 
 
 
 
 
 
 
 
 
 
Acquisition Costs of Properties
 
 
 
 
 
 
 
 
 
 
 
Unproved
$
471,345
$
33,561
$
1,000
$
(603)
$
505,303
 
Proved
 
739
 
-
 
-
 
- 
 
739
 
 
Subtotal
 
472,084
 
33,561
 
1,000
 
(603)
 
506,042
Exploration Costs
 
333,534
 
38,530
 
19,555
 
53,979 
 
445,598
Development Costs (2)
 
5,657,378
 
278,995
 
32,609
 
147,568 
 
6,116,550
 
 
Total
$
6,462,996
$
351,086
$
53,164
$
200,944 
$
7,068,190
 
 
 
 
 
 
 
 
 
 
 
2011
 
 
 
 
 
 
 
 
 
 
Acquisition Costs of Properties
 
 
 
 
 
 
 
 
 
 
 
Unproved
$
295,160
$
6,216 
$
-
$
(604)
$
300,772
 
Proved
 
4,219
 
28 
 
-
 
- 
 
4,247
 
 
Subtotal
 
299,379
 
6,244 
 
-
 
(604)
 
305,019
Exploration Costs
 
311,369
 
31,472 
 
2,549
 
18,164 
 
363,554
Development Costs (3)
 
5,410,378
 
302,564 
 
138,905
 
78,744 
 
5,930,591
 
 
Total
$
6,021,126
$
340,280 
$
141,454
$
96,304 
$
6,599,164
 
 
 
 
 
 
 
 
 
 
 
2010
 
 
 
 
 
 
 
 
 
 
Acquisition Costs of Properties
 
 
 
 
 
 
 
 
 
 
 
Unproved
$
403,509
$
13,956 
$
-
$
(107)
$
417,358
 
Proved
 
-
 
- 
 
-
 
- 
 
-
 
 
Subtotal
 
403,509
 
13,956 
 
-
 
(107)
 
417,358
Exploration Costs
 
454,379
 
38,604 
 
23,386
 
86,784 
 
603,153
Development Costs (4)
 
3,892,403
 
417,176 
 
114,986
 
13,429 
 
4,437,994
 
 
Total
$
4,750,291
$
469,736 
$
138,372
$
100,106 
$
5,458,505

(1)Other International primarily consists of EOG's United Kingdom, China and Argentina operations.
(2)Includes Asset Retirement Costs of $80 million, $33 million, $2 million and $12 million for the United States, Canada, Trinidad and Other International, respectively.  Excludes other property, plant and equipment.
(3)Includes Asset Retirement Costs of $52 million, $70 million, $7 million and $4 million for the United States, Canada, Trinidad and Other International, respectively.  Excludes other property, plant and equipment.
(4)Includes Asset Retirement Costs of $71 million, $2 million, $(3) million and $2 million for the United States, Canada, Trinidad and Other International, respectively.  Excludes other property, plant and equipment.
Results of Operations for Oil and Gas Producing Activities
Results of Operations for Oil and Gas Producing Activities (1).  The following table sets forth results of operations for oil and gas producing activities for the years ended December 31, 2012, 2011 and 2010:

 
 
United
 
 
 
 
 
Other
 
 
 
 
States
 
Canada
 
Trinidad
 
International (2)
 
Total
 
 
 
 
 
 
 
 
 
 
 
2012
 
 
 
 
 
 
 
 
 
 
Crude Oil and Condensate, Natural Gas Liquids and Natural Gas Revenues
$
7,048,572
$
321,597 
$
565,030
$
23,177 
$
7,958,376
Other
 
40,780
 
367 
 
15
 
- 
 
41,162
 
 
Total
 
7,089,352
 
321,964 
 
565,045
 
23,177 
`
7,999,538
Exploration Costs
 
162,152
 
13,350 
 
2,262
 
7,805 
 
185,569
Dry Hole Costs
 
1,772
 
1,570 
 
-
 
11,628 
 
14,970
Transportation Costs
 
591,547
 
7,511 
 
1,104
 
1,269 
 
601,431
Production Costs
 
1,264,633
 
154,509 
 
37,792
 
11,694 
 
1,468,628
Impairments
 
294,172
 
976,563 
 
-
 
- 
 
1,270,735
Depreciation, Depletion and Amortization
 
2,637,500
 
222,366 
 
146,690
 
17,958 
 
3,024,514
Income (Loss) Before Income Taxes
 
2,137,576
 
(1,053,905)
 
377,197
 
(27,177)
 
1,433,691
Income Tax Provision (Benefit)
 
761,459
 
(136,105)
 
119,442
 
(21,890)
 
722,906
Results of Operations
$
1,376,117
$
(917,800)
$
257,755
$
(5,287)
$
710,785
 
 
 
 
 
 
 
 
 
 
 
 
 
2011
 
 
 
 
 
 
 
 
 
 
Crude Oil and Condensate, Natural Gas Liquids and Natural Gas Revenues
$
5,814,942
$
459,853 
$
555,143
$
28,250 
$
6,858,188
Other
 
32,329
 
258 
 
586
 
- 
 
33,173
 
 
Total
 
5,847,271
 
460,111 
 
555,729
 
28,250 
`
6,891,361
Exploration Costs
 
148,199
 
10,479 
 
2,520
 
10,460 
 
171,658
Dry Hole Costs
 
30,521
 
432 
 
-
 
22,277 
 
53,230
Transportation Costs
 
421,060
 
5,969 
 
1,620
 
1,673 
 
430,322
Production Costs
 
1,096,955
 
174,973 
 
49,318
 
10,964 
 
1,332,210
Impairments
 
575,976
 
452,103 
 
-
 
2,958 
 
1,031,037
Depreciation, Depletion and Amortization
 
2,011,080
 
258,772 
 
106,802
 
17,160 
 
2,393,814
Income (Loss) Before Income Taxes
 
1,563,480
 
(442,617)
 
395,469
 
(37,242)
 
1,479,090
Income Tax Provision (Benefit)
 
569,153
 
(121,044)
 
202,815
 
(13,056)
 
637,868
Results of Operations
$
994,327
$
(321,573)
$
192,654
$
(24,186)
$
841,222
 
 
 
 
 
 
 
 
 
 
 
 
 
2010
 
 
 
 
 
 
 
 
 
 
Crude Oil and Condensate, Natural Gas Liquids and Natural Gas Revenues
$
3,928,240
$
477,416 
$
447,852 
$
27,707 
$
4,881,215
Other
 
19,886
 
(31)
 
3,696 
 
- 
 
23,551
 
 
Total
 
3,948,126
 
477,385 
 
451,548 
 
27,707 
 
4,904,766
Exploration Costs
 
156,252
 
17,597 
 
2,277 
 
11,255 
 
187,381
Dry Hole Costs
 
30,927
 
14,875 
 
5,000 
 
21,684 
 
72,486
Transportation Costs
 
372,466
 
9,892 
 
1,348 
 
1,483 
 
385,189
Production Costs
 
763,769
 
174,667 
 
51,125 
 
8,504 
 
998,065
Impairments
 
271,466
 
451,703 
 
1,465 
 
418 
 
725,052
Depreciation, Depletion and Amortization
 
1,430,408
 
314,663 
 
70,553 
 
15,399 
 
1,831,023
Income (Loss) Before Income Taxes
 
922,838
 
(506,012)
 
319,780 
 
(31,036)
 
705,570
Income Tax Provision (Benefit)
 
375,855
 
(151,315)
 
140,413 
 
(14,245)
 
350,708
Results of Operations
$
546,983
$
(354,697)
$
179,367 
$
(16,791)
$
354,862

(1)Excludes gains or losses on the mark-to-market of financial commodity derivative contracts, gains or losses on sales of reserves and related assets, interest charges and general corporate expenses for each of the three years in the period ended December 31, 2012.
(2)Other International primarily consists of EOG's United Kingdom, China and Argentina operations.
Production Costs Per Barrel of Oil Equivalent
The following table sets forth production costs per barrel of oil equivalent, excluding severance/production and ad valorem taxes, for the years ended December 31, 2012, 2011 and 2010:

 
 
United
 
 
 
 
 
Other
 
 
 
 
States
 
Canada
 
Trinidad
 
International (1)
 
Composite
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2012
$
5.96
$
16.42
$
0.98
$
18.97
$
5.85
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2011
$
6.19
$
14.26
$
0.78
$
13.82
$
6.03
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2010
$
5.00
$
10.28
$
0.65
$
9.34
$
4.85
 
 
 
 
 
 
 
 
 
 
 

(1)    Other International primarily consists of EOG's United Kingdom, China and Argentina operations.
Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves Table
The following table sets forth the standardized measure of discounted future net cash flows from projected production of EOG's oil and gas reserves for the years ended December 31, 2012, 2011 and 2010:

 
 
United
 
 
 
 
 
Other
 
 
 
 
States
 
Canada
 
Trinidad
 
International (1)
 
Total
2012
 
 
 
 
 
 
 
 
 
 
 
Future cash inflows (2)
$
89,324,274 
$
1,816,369 
$
2,408,116 
$
1,063,854 
$
94,612,613 
 
Future production costs
 
(35,892,997)
 
(751,113)
 
(342,113)
 
(198,609)
 
(37,184,832)
 
Future development costs
 
(15,825,040)
 
(813,061)
 
(171,737)
 
(221,893)
 
(17,031,731)
 
Future income taxes
 
(10,247,007)
 
- 
 
(691,109)
 
(212,626)
 
(11,150,742)
 
Future net cash flows
 
27,359,230 
 
252,195 
 
1,203,157 
 
430,726 
 
29,245,308 
 
Discount to present value at 10% annual rate
 
(12,177,896)
 
146,954 
 
(242,087)
 
(56,807)
 
(12,329,836)
 
Standardized measure of discounted future net cash flows relating to proved oil and gas reserves
$
15,181,334 
$
399,149 
$
961,070 
$
373,919 
$
16,915,472 
 
 
 
 
 
 
 
 
 
 
 
2011
 
 
 
 
 
 
 
 
 
 
 
Future cash inflows (3)
$
84,518,638 
$
5,056,501 
$
2,851,545 
$
103,853 
$
92,530,537 
 
Future production costs
 
(33,294,343)
 
(2,315,110)
 
(388,199)
 
(62,938)
 
(36,060,590)
 
Future development costs
 
(13,811,449)
 
(1,566,917)
 
(149,884)
 
(331)
 
(15,528,581)
 
Future income taxes
 
(10,539,182)
 
(81,590)
 
(794,856)
 
(2,457)
 
(11,418,085)
 
Future net cash flows
 
26,873,664 
 
1,092,884 
 
1,518,606 
 
38,127 
 
29,523,281 
 
Discount to present value at 10% annual rate
 
(12,498,010)
 
(456,537)
 
(334,399)
 
(9,054)
 
(13,298,000)
 
Standardized measure of discounted future net cash flows relating to proved oil and gas reserves
$
14,375,654 
$
636,347 
$
1,184,207 
$
29,073 
$
16,225,281 
 
 
 
 
 
 
 
 
 
 
 
2010
 
 
 
 
 
 
 
 
 
 
 
Future cash inflows (4)
$
62,063,123 
$
6,040,422 
$
2,760,819 
$
91,805 
$
70,956,169 
 
Future production costs
 
(22,616,039)
 
(2,711,415)
 
(384,147)
 
(48,953)
 
(25,760,554)
 
Future development costs
 
(9,596,005)
 
(1,716,734)
 
(198,072)
 
(334)
 
(11,511,145)
 
Future income taxes
 
(8,503,301)
 
(129,816)
 
(850,699)
 
(3,598)
 
(9,487,414)
 
Future net cash flows
 
21,347,778 
 
1,482,457 
 
1,327,901 
 
38,920 
 
24,197,056 
 
Discount to present value at 10% annual rate
 
(10,718,854)
 
(736,222)
 
(339,035)
 
(11,121)
 
(11,805,232)
 
Standardized measure of discounted future net cash flows relating to proved oil and gas reserves
$
10,628,924 
$
746,235 
$
988,866 
$
27,799 
$
12,391,824 

(1)Other International includes EOG's United Kingdom, China and Argentina operations.
(2)Estimated crude oil prices used to calculate 2012 future cash inflows for the United States, Canada, Trinidad and Other International were $99.78, $84.77, $94.46 and $109.94, respectively. Estimated NGLs prices used to calculate 2012 future cash inflows for the United States and Canada were $36.95 and $47.80, respectively.  Estimated natural gas prices used to calculate 2012 future cash inflows for the United States, Canada, Trinidad and Other International were $2.63, $2.22, $3.61 and $5.04, respectively.
(3)Estimated crude oil prices used to calculate 2011 future cash inflows for the United States, Canada, Trinidad and Other International were $97.75, $90.70, $92.50 and $102.86, respectively. Estimated NGLs prices used to calculate 2011 future cash inflows for the United States and Canada were $51.77  and $46.97, respectively.  Estimated natural gas prices used to calculate 2011 future cash inflows for the United States, Canada, Trinidad and Other International were $4.03, $3.28, $3.37, and $5.07, respectively.
(4)Estimated crude oil prices used to calculate 2010 future cash inflows for the United States, Canada, Trinidad and Other International were $76.38, $72.59, $69.56 and $73.88, respectively. Estimated NGLs prices used to calculate 2010 future cash inflows for the United States and Canada were $43.85 and $26.56, respectively.  Estimated natural gas prices used to calculate 2010 future cash inflows for the United States, Canada, Trinidad and Other International were $4.36, $3.67, $2.94 and $5.02, respectively.
Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves
Changes in Standardized Measure of Discounted Future Net Cash Flows.  The following table sets forth the changes in the standardized measure of discounted future net cash flows at December 31, for each of the three years in the period ended December 31, 2012:

 
 
United
 
 
 
 
 
Other
 
 
 
 
States
 
Canada
 
Trinidad
 
International
 
Total
December 31, 2009
$
5,822,916 
$
1,037,244 
$
665,563 
$
15,295 
$
7,541,018 
 
Sales and transfers of oil and gas produced, net of
    production costs
 
(2,792,005)
 
(292,857)
 
(395,379)
 
(17,720)
 
(3,497,961)
 
Net changes in prices and production costs
 
2,468,907 
 
(559)
 
721,796 
 
7,259 
 
3,197,403 
 
Extensions, discoveries, additions and improved
    recovery, net of related costs
 
4,319,659 
 
75,162 
 
183,453 
 
- 
 
4,578,274 
 
Development costs incurred
 
864,700 
 
175,100 
 
67,300 
 
- 
 
1,107,100 
 
Revisions of estimated development cost
 
(257,360)
 
260,290 
 
(767)
 
9 
 
2,172 
 
Revisions of previous quantity estimates
 
(164,748)
 
(38,382)
 
(175,002)
 
4,006 
 
(374,126)
 
Accretion of discount
 
755,001 
 
102,022 
 
101,549 
 
1,778 
 
960,350 
 
Net change in income taxes
 
(1,171,384)
 
101,966 
 
(258,354)
 
2,469 
 
(1,325,303)
 
Purchases of reserves in place
 
265 
 
- 
 
- 
 
- 
 
265 
 
Sales of reserves in place
 
(54,057)
 
(290,592)
 
- 
 
- 
 
(344,649)
 
Changes in timing and other
 
837,030 
 
(383,159)
 
78,707 
 
14,703 
 
547,281 
December 31, 2010
 
10,628,924 
 
746,235 
 
988,866 
 
27,799 
 
12,391,824 
 
Sales and transfers of oil and gas produced, net of
    production costs
 
(4,296,926)
 
(278,910)
 
(504,205)
 
(15,614)
 
(5,095,655)
 
Net changes in prices and production costs
 
716,682 
 
(57,545)
 
331,196 
 
3,328 
 
993,661 
 
Extensions, discoveries, additions and improved
    recovery, net of related costs
 
6,223,552 
 
22,591 
 
102,548 
 
- 
 
6,348,691 
 
Development costs incurred
 
1,422,500 
 
48,200 
 
74,800 
 
- 
 
1,545,500 
 
Revisions of estimated development cost
 
(210,919)
 
64,001 
 
(14,074)
 
2 
 
(160,990)
 
Revisions of previous quantity estimates
 
(482,496)
 
(70,718)
 
(56,884)
 
801 
 
(609,297)
 
Accretion of discount
 
1,352,740 
 
62,725 
 
159,715 
 
2,782 
 
1,577,962 
 
Net change in income taxes
 
(1,049,641)
 
(118,988)
 
9,511 
 
13 
 
(1,159,105)
 
Purchases of reserves in place
 
5,241 
 
- 
 
- 
 
- 
 
5,241 
 
Sales of reserves in place
 
(658,468)
 
- 
 
- 
 
- 
 
(658,468)
 
Changes in timing and other
 
724,465 
 
218,756 
 
92,734 
 
9,962 
 
1,045,917 
December 31, 2011
 
14,375,654 
 
636,347 
 
1,184,207 
 
29,073 
 
16,225,281 
 
Sales and transfers of oil and gas produced, net of
   production costs
 
(5,192,392)
 
(159,577)
 
(526,134)
 
(10,214)
 
(5,888,317)
 
Net changes in prices and production costs
 
(393,585)
 
(67,964)
 
162,600 
 
(2,283)
 
(301,232)
 
Extensions, discoveries, additions and improved
    recovery, net of related costs
 
5,517,945 
 
79,529 
 
- 
 
484,648 
 
6,082,122 
 
Development costs incurred
 
2,042,300 
 
23,600 
 
23,500 
 
5,200 
 
2,094,600 
 
Revisions of estimated development cost
 
1,987,330 
 
383,215 
 
(28,835)
 
(234)
 
2,341,476 
 
Revisions of previous quantity estimates
 
(3,286,943)
 
(396,408)
 
(62,285)
 
2,809 
 
(3,742,827)
 
Accretion of discount
 
1,832,377 
 
63,635 
 
178,298 
 
2,907 
 
2,077,217 
 
Net change in income taxes
 
174,418 
 
- 
 
88,853 
 
(138,206)
 
125,065 
 
Purchases of reserves in place
 
64,317 
 
- 
 
- 
 
5,623 
 
69,940 
 
Sales of reserves in place
 
(869,534)
 
(44,227)
 
- 
 
-
 
(913,761)
 
Changes in timing and other
 
(1,070,553)
 
(119,001)
 
(59,134)
 
(5,404)
 
(1,254,092)
December 31, 2012
$
15,181,334 
$
399,149 
$
961,070 
$
373,919 
$
16,915,472