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Exploratory Well Costs

3 Months Ended

Mar. 31, 2021

Capitalized Exploratory Well Costs [Abstract]

Exploratory Well Costs

Exploratory Well Costs

EOG's net changes in capitalized exploratory well costs for the three-month period ended March 31, 2021, are presented below (in millions):

			Three Months Ended March 31, 2021
Balance at January 1			$	29
Additions Pending the Determination of Proved Reserves			12
Reclassifications to Proved Properties			(3)
Costs Charged to Expense (1)			(5)
Balance at March 31			$	33

(1)Includes capitalized exploratory well costs charged to either dry hole costs or impairments.

			Three Months Ended March 31, 2021
Capitalized exploratory well costs that have been capitalized for a period of one year or less			$	18
Capitalized exploratory well costs that have been capitalized for a period greater than one year (1)			15
Balance at March 31			$	33
Number of exploratory wells that have been capitalized for a period greater than one year			1

(1)Consists of costs related to a project in Trinidad at March 31, 2021.

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- References

No definition available.

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- Definition

The entire disclosure for parts or all of the information related to suspended well costs.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 932
-SubTopic 235
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=68064819&loc=SL6806780-109447

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