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Exploratory Well Costs (Tables)

3 Months Ended

Mar. 31, 2021

Capitalized Exploratory Well Costs [Abstract]

Net Changes In Capitalized 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.

Schedule of Aging of Capitalized Exploratory Well Costs

			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

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- Definition

Tabular disclosure of the change in capitalized exploratory costs during the period.

+ 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
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=68064819&loc=SL6806780-109447

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- Definition

Tabular disclosure of the amount of exploratory well costs that have been capitalized after the completion of drilling and the number of projects for which those costs relate. Additionally, for exploratory well costs that have been capitalized for periods greater than one year at the most recent balance sheet date, this block of text may be used to disclose an aging of those amounts by year, or by using a range of years, and the number of projects to which those costs relate.

+ 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
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=68064819&loc=SL6806780-109447

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