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Risk Management Activities (Tables) | 12 Months Ended
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Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | Presented below is a comprehensive summary of EOG's financial commodity derivative contracts settled during the year ended December 31, 2022 (closed) and remaining for 2023 and thereafter, as of December 31, 2022. Crude oil and NGLs volumes are presented in MBbld and prices are presented in $/Bbl. Natural gas volumes are presented in MMBtu per day (MMBtud) and prices are presented in dollars per MMBtu ($/MMBtu).
Crude Oil Financial Price Swap Contracts
|  |  |  | Contracts Sold |  | Contracts Purchased
Period |  | Settlement Index |  | Volume (MBbld) |  | Weighted Average Price ($/Bbl) |  | Volume (MBbld) |  | Weighted Average Price ($/Bbl)
January - March 2022 (closed) |  | NYMEX WTI |  | 140 |  |  | $ | 65.58 |  |  | — |  |  | $ | — |
April - June 2022 (closed) |  | NYMEX WTI |  | 140 |  |  | 65.62 |  |  | — |  |  | — |
July - September 2022 (closed) |  | NYMEX WTI |  | 140 |  |  | 65.59 |  |  | — |  |  | — |
October - December 2022 (closed) (1) |  | NYMEX WTI |  | 53 |  |  | 66.11 |  |  | — |  |  | — |
October - December 2022 (closed) |  | NYMEX WTI |  | 87 |  |  | 65.41 |  |  | 87 |  |  | 88.85 |
January - March 2023 (closed) (1) (2) |  | NYMEX WTI |  | 55 |  |  | 67.96 |  |  | — |  |  | — |
January - March 2023 |  | NYMEX WTI |  | 95 |  |  | 67.90 |  |  | 6 |  |  | 102.26 |
April - May 2023 (closed) (1) |  | NYMEX WTI |  | 29 |  |  | 68.28 |  |  | — |  |  | — |
April - May 2023 |  | NYMEX WTI |  | 91 |  |  | 67.63 |  |  | 2 |  |  | 98.15 |
June 2023 (closed) (1) |  | NYMEX WTI |  | 118 |  |  | 67.77 |  |  | — |  |  | — |
June 2023 |  | NYMEX WTI |  | 2 |  |  | 69.10 |  |  | 2 |  |  | 98.15 |
July - September 2023 (closed) (1) |  | NYMEX WTI |  | 100 |  |  | 70.15 |  |  | — |  |  | — |
October - December 2023 (closed) (1) |  | NYMEX WTI |  | 69 |  |  | 69.41 |  |  | — |  |  | — |
_________________ (1) In the second quarter of 2022, EOG executed the early termination provision granting EOG the right to terminate certain of its October 2022 - December 2023 crude oil financial price swap contracts which were open at that time. EOG paid net cash of $593 million for the settlement of these contracts. (2) In the third quarter of 2022, EOG executed the early termination provision granting EOG the right to terminate certain of its January 2023 - March 2023 crude oil financial price swap contracts which were open at that time. EOG paid net cash of $63 million for the settlement of these contracts.
Crude Oil Basis Swap Contracts
|  |  |  | Contracts Sold
Period |  | Settlement Index |  | Volume (MBbld) |  | Weighted Average Price Differential ($/Bbl)
January - December 2022 (closed) |  | NYMEX WTI Roll Differential (1) |  | 125 |  |  | $ | 0.15 |
(1) This settlement index is used to fix the differential in pricing between the NYMEX calendar month average and the physical crude oil delivery month.
Natural Gas Financial Price Swap Contracts
|  |  |  | Contracts Sold
Period |  | Settlement Index |  | Volume (MMBtud in thousands) |  | Weighted Average Price ($/MMBtu)
January - September 2022 (closed) |  | NYMEX Henry Hub |  | 725 |  |  | $ | 3.57 |
October - December 2022 (closed) (1) |  | NYMEX Henry Hub |  | 425 |  |  | 3.05 |
October - December 2022 (closed) |  | NYMEX Henry Hub |  | 300 |  |  | 4.32 |
January - December 2023 (closed) (1) |  | NYMEX Henry Hub |  | 425 |  |  | 3.05 |
January 2023 (closed) |  | NYMEX Henry Hub |  | 300 |  |  | 3.36 |
February - December 2023 |  | NYMEX Henry Hub |  | 300 |  |  | 3.36 |
January - December 2024 |  | NYMEX Henry Hub |  | 725 |  |  | 3.07 |
January - December 2025 |  | NYMEX Henry Hub |  | 725 |  |  | 3.07 |
_________________ (1) In the second quarter of 2022, EOG executed the early termination provision granting EOG the right to terminate certain of its October 2022 - December 2023 natural gas financial price swap contracts which were open at that time. EOG paid net cash of $735 million for the settlement of these contracts
Natural Gas Basis Swap Contracts
|  |  |  | Contracts Sold
Period |  | Settlement Index |  | Volume (MMBtud in thousands) |  | Weighted Average Price ($/MMBtu)
January - December 2022 (closed) |  | NYMEX Henry Hub Houston Ship Channel (HSC) Differential (1) |  | 210 |  |  | $ | 0.01 |
January - December 2023 |  | NYMEX Henry Hub HSC Differential |  | 135 |  |  | 0.01 |
January - December 2024 |  | NYMEX Henry Hub HSC Differential |  | 10 |  |  | 0.00 |
January - December 2025 |  | NYMEX Henry Hub HSC Differential |  | 10 |  |  | 0.00 |
(1) This settlement index is used to fix the differential between pricing at the Houston Ship Channel and NYMEX Henry Hub prices.
Schedule of Derivative Instruments In Statement Of Financial Position, Fair Value | The following table sets forth the amounts and classification of EOG's outstanding derivative financial instruments at December 31, 2022 and 2021, respectively. Certain amounts may be presented on a net basis on the consolidated financial statements when such amounts are with the same counterparty and subject to a master netting arrangement (in millions):
|  |  |  | Fair Value at December 31,
Description |  | Location on Balance Sheet |  | 2022 |  | 2021
Asset Derivatives |  |  |  |  |  |
Crude oil, NGLs and natural gas financial derivative contracts - |  |  |  |  |  |
Noncurrent portion |  | Other Assets |  | $ | — |  |  | $ | 6 |
Liability Derivatives |  |  |  |  |  |
Crude oil, NGLs and natural gas financial derivative contracts - |  |  |  |  |  |
Current portion |  | Liabilities from Price Risk Management Activities (1) |  | $ | 169 |  |  | $ | 269 |
Noncurrent Portion |  | Other Liabilities (2) |  | 371 |  |  | 37 |
(1) The current portion of Liabilities from Price Risk Management Activities consists of gross liabilities of $287 million, partially offset by gross assets of $26 million and collateral posted with counterparties of $92 million, at December 31, 2022. (2) The noncurrent portion of Liabilities from Price Risk Management Activities consists of gross liabilities of $606 million, partially offset by gross assets of $3 million and collateral posted with counterparties of $232 million, at December 31, 2022.

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959 + Details
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