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Acquisitions and Divestitures (Tables) | 9 Months Ended
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Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Schedule of Business Combination, Recognized Asset Acquired and Liability Assumed | The following table summarizes the preliminary allocation of the consideration to the fair values of the assets acquired and liabilities assumed (in millions):
Total Consideration | $ | 4,484 |
Fair Value of Assets Acquired: |
Cash and Cash Equivalents | $ | 20 |
Accounts Receivable, Net | 326 |
Inventories | 12 |
Assets from Price Risk Management Activities | 26 |
Other Current Assets | 24 |
Oil and Gas Properties (Successful Efforts Method) | 6,685 |
Other Property, Plant and Equipment | 88 |
Other Assets | 67 |
Amount Attributable to Assets Acquired | $ | 7,248 |
Fair Value of Liabilities Assumed: |
Accounts Payable | $ | 632 |
Accrued Taxes Payable | 17 |
Current Liabilities from Price Risk Management Activities | 15 |
Current Portion of Operating Lease Liabilities | 23 |
Other Current Liabilities | 42 |
Senior Notes | 1,266 |
Asset Retirement Obligations | 52 |
Other Liabilities | 72 |
Deferred Income Taxes | 645 |
Amount Attributable to Liabilities Assumed | $ | 2,764 |
Net Assets Acquired and Liabilities Assumed | $ | 4,484 |
Schedule of Business Combination, Pro Forma Information | The following table details revenues and net income for Encino from the acquisition date, August 1, 2025, for the periods presented (in millions):
| Three Months Ended September 30, 2025 |  | Nine Months Ended September 30, 2025
Operating Revenues and Other | $ | 358 |  |  | $ | 358 |
Net Income | 100 |  |  | 100
The following table details unaudited supplemental pro forma financial information for Encino as if EOG had completed the acquisition on January 1, 2024 (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Operating Revenues and Other | $ | 6,083 |  |  | $ | 6,411 |  |  | $ | 18,415 |  |  | $ | 19,414 |
Net Income | 1,601 |  |  | 1,884 |  |  | 4,697 |  |  | 5,324 |

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