EOG Resources (EOG) 10-K22 Feb 242023 FY Annual reportFinancial data

Company Profile

Cover

Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Dec. 31, 2023	Feb. 15, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-9743
Entity Registrant Name	EOG RESOURCES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-0684736
Entity Address, Address Line One	1111 Bagby
Entity Address, Address Line Two	Sky Lobby 2
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77002
City Area Code	713
Local Phone Number	651-7000
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	EOG
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 66,533
Entity Common Stock, Shares Outstanding		580,001,872
Documents Incorporated by Reference	Documents incorporated by reference. Portions of the Definitive Proxy Statement for the registrant's 2024 Annual Meeting of Stockholders, to be filed within 120 days after December 31, 2023, are incorporated by reference into Part III of this report.
Entity Central Index Key	0000821189
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Auditor Information [Abstract]
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	Houston, Texas
Auditor Firm ID	34

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Revenues and Other
Gains on Asset Dispositions, Net	$ 95	$ 74	$ 17
Total	24,186	25,702	18,642
Operating Expenses
Lease and Well	1,454	1,331	1,135
Transportation Costs	957	966	863
Gathering and Processing Costs	663	621	559
Exploration Costs	181	159	154
Dry Hole Costs	1	45	71
Impairments	202	382	376
Marketing Costs	5,709	6,535	4,173
Depreciation, Depletion and Amortization	3,492	3,542	3,651
General and Administrative	640	570	511
Taxes Other Than Income	1,284	1,585	1,047
Total	14,583	15,736	12,540
Operating Income	9,603	9,966	6,102
Other Income, Net	234	114	9
Income Before Interest Expense and Income Taxes	9,837	10,080	6,111
Interest Expense
Incurred	181	215	211
Capitalized	(33)	(36)	(33)
Interest Expense, Net	148	179	178
Income Before Income Taxes	9,689	9,901	5,933
Income Tax Provision	2,095	2,142	1,269
Net Income	$ 7,594	$ 7,759	$ 4,664
Net Income Per Share
Basic ( in usd per share)	$ 13.07	$ 13.31	$ 8.03
Diluted (in usd per share)	$ 13	$ 13.22	$ 7.99
Average Number of Common Shares
Basic (in shares)	581	583	581
Diluted (in shares)	584	587	584
Comprehensive Income
Net Income	$ 7,594	$ 7,759	$ 4,664
Other Comprehensive Income (Loss)
Foreign Currency Translation Adjustments	(1)	4	(1)
Other, Net of Tax	0	0	1
Other Comprehensive Income (Loss)	(1)	4	0
Comprehensive Income	7,593	7,763	4,664
Crude Oil and Condensate
Operating Revenues and Other
Revenue from contract with customer	13,748	16,367	11,125
Natural Gas Liquids
Operating Revenues and Other
Revenue from contract with customer	1,884	2,648	1,812
Natural Gas
Operating Revenues and Other
Revenue from contract with customer	1,744	3,781	2,444
Gains (Losses) on Mark-to-Market Financial Commodity Derivative Contracts, Net
Operating Revenues and Other
Revenue not from contract with customer	818	(3,982)	(1,152)
Gathering, Processing and Marketing
Operating Revenues and Other
Revenue from contract with customer	5,806	6,696	4,288
Other, Net
Operating Revenues and Other
Revenue not from contract with customer	$ 91	$ 118	$ 108

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current Assets
Cash and Cash Equivalents	$ 5,278	$ 5,972
Accounts Receivable, Net	2,716	2,774
Inventories	1,275	1,058
Assets from Price Risk Management Activities	106	0
Income Taxes Receivable	0	97
Other	560	574
Total	9,935	10,475
Property, Plant and Equipment
Oil and Gas Properties (Successful Efforts Method)	72,090	67,322
Other Property, Plant and Equipment	5,497	4,786
Total Property, Plant and Equipment	77,587	72,108
Less: Accumulated Depreciation, Depletion and Amortization	(45,290)	(42,679)
Total Property, Plant and Equipment, Net	32,297	29,429
Deferred Income Taxes	42	33
Other Assets	1,583	1,434
Total Assets	43,857	41,371
Current Liabilities
Accounts Payable	2,437	2,532
Accrued Taxes Payable	466	405
Dividends Payable	526	482
Liabilities from Price Risk Management Activities	0	169
Current Portion of Long-Term Debt	34	1,283
Current Portion of Operating Lease Liabilities	325	296
Other	286	346
Total	4,074	5,513
Long-Term Debt	3,765	3,795
Other Liabilities	2,526	2,574
Deferred Income Taxes	5,402	4,710
Commitments and Contingencies (Note 8)
Stockholders' Equity
Common Stock, $0.01 Par, 1,280,000,000 Shares Authorized and 588,748,473 Shares and 588,396,757 Shares Issued at December 31, 2023 and 2022, respectively	206	206
Additional Paid in Capital	6,166	6,187
Accumulated Other Comprehensive Loss	(9)	(8)
Retained Earnings	22,634	18,472
Common Stock Held in Treasury, 7,888,105 Shares and 700,281 Shares at December 31, 2023 and 2022, respectively	(907)	(78)
Total Stockholders' Equity	28,090	24,779
Total Liabilities and Stockholders' Equity	$ 43,857	$ 41,371

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,280,000,000	1,280,000,000
Common stock, shares issued (in shares)	588,748,473	588,396,757
Common stock held in treasury (in shares)	7,888,105	700,281

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common Stock	Additional Paid In Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Common Stock Held In Treasury
Beginning balance at Dec. 31, 2020	$ 20,302	$ 206	$ 5,945	$ (12)	$ 14,170	$ (7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	4,664				4,664
Common Stock Issued Under Stock Plans	17		17
Common Stock Dividends Declared	(2,915)				(2,915)
Other Comprehensive Income (Loss)	0			0
Change in Treasury Stock - Stock Compensation Plans, Net	(40)		(22)			(18)
Restricted Stock and Restricted Stock Units, Net	0		(5)			5
Stock-Based Compensation Expenses	152		152
Treasury Stock Issued as Compensation	0					0
Ending balance at Dec. 31, 2021	22,180	206	6,087	(12)	15,919	(20)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	7,759				7,759
Common Stock Issued Under Stock Plans	24		24
Common Stock Dividends Declared	(5,206)				(5,206)
Other Comprehensive Income (Loss)	4			4
Change in Treasury Stock - Stock Compensation Plans, Net	(116)		(55)			(61)
Restricted Stock and Restricted Stock Units, Net	0		(2)			2
Stock-Based Compensation Expenses	133		133
Treasury Stock Issued as Compensation	1					1
Ending balance at Dec. 31, 2022	24,779	206	6,187	(8)	18,472	(78)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	7,594				7,594
Common Stock Dividends Declared	(3,432)				(3,432)
Other Comprehensive Income (Loss)	(1)			(1)
Treasury Stock Repurchased	(979)					(979)
Change in Treasury Stock - Stock Compensation Plans, Net	(48)		(36)			(12)
Restricted Stock and Restricted Stock Units, Net	0		(162)			162
Stock-Based Compensation Expenses	177		177
Ending balance at Dec. 31, 2023	$ 28,090	$ 206	$ 6,166	$ (9)	$ 22,634	$ (907)

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Common stock dividends declared (in USD per share)	$ 5.8850	$ 8.8750	$ 4.9875

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash Flows from Operating Activities
Net Income	$ 7,594	$ 7,759	$ 4,664
Items Not Requiring (Providing) Cash
Depreciation, Depletion and Amortization	3,492	3,542	3,651
Impairments	202	382	376
Stock-Based Compensation Expenses	177	133	152
Deferred Income Taxes	683	(61)	(122)
Gains on Asset Dispositions, Net	(95)	(74)	(17)
Other, Net	27	0	13
Dry Hole Costs	1	45	71
Mark-to-Market Financial Commodity Derivative Contracts
(Gains) Losses, Net	(818)	3,982	1,152
Net Cash Payments for Settlements of Financial Commodity Derivative Contracts	(112)	(3,501)	(638)
Other, Net	(2)	45	7
Changes in Components of Working Capital and Other Assets and Liabilities
Accounts Receivable	(38)	(347)	(821)
Inventories	(231)	(534)	(13)
Accounts Payable	(119)	90	456
Accrued Taxes Payable	61	(113)	312
Other Assets	39	(364)	(136)
Other Liabilities	184	(266)	(116)
Changes in Components of Working Capital Associated with Investing Activities	295	375	(200)
Net Cash Provided by Operating Activities	11,340	11,093	8,791
Investing Cash Flows
Additions to Oil and Gas Properties	(5,385)	(4,619)	(3,638)
Additions to Other Property, Plant and Equipment	(800)	(381)	(212)
Proceeds from Sales of Assets	140	349	231
Other Investing Activities	0	(30)	0
Changes in Components of Working Capital Associated with Investing Activities	(295)	(375)	200
Net Cash Used in Investing Activities	(6,340)	(5,056)	(3,419)
Financing Cash Flows
Long-Term Debt Repayments	(1,250)	0	(750)
Dividends Paid	(3,386)	(5,148)	(2,684)
Treasury Stock Purchased	(1,038)	(118)	(41)
Proceeds from Stock Options Exercised and Employee Stock Purchase Plan	20	28	19
Debt Issuance Costs	(8)	0	0
Repayment of Finance Lease Liabilities	(32)	(35)	(37)
Net Cash Used in Financing Activities	(5,694)	(5,273)	(3,493)
Effect of Exchange Rate Changes on Cash	0	(1)	1
Increase (Decrease) in Cash and Cash Equivalents	(694)	763	1,880
Cash and Cash Equivalents at Beginning of Year	5,972	5,209	3,329
Cash and Cash Equivalents at End of Year	$ 5,278	$ 5,972	$ 5,209

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Nature of Business. EOG Resources, Inc., a Delaware corporation organized in 1985, together with its subsidiaries (collectively, EOG), explores for, develops, produces and markets crude oil, natural gas liquids (NGLs) and natural gas primarily in major producing basins in the United States of America (United States or U.S.) and the Republic of Trinidad and Tobago (Trinidad). EOG is making preparations to drill offshore Australia, as well as evaluating additional exploration, development and exploitation opportunities in these and other select international areas. In addition, EOG is executing an abandonment and reclamation program in Canada. EOG completed the exit of Block 36 and Block 49 located in the Sultanate of Oman (Oman) in 2023. EOG sold its operations in the China Sichuan Basin (China) in the second quarter of 2021. Principles of Consolidation. The consolidated financial statements of EOG include the accounts of all domestic and foreign subsidiaries. Any investments in unconsolidated affiliates, in which EOG is able to exercise significant influence, are accounted for using the equity method. All intercompany accounts and transactions have been eliminated. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Financial Instruments. EOG's financial instruments consist of cash and cash equivalents, financial commodity derivative contracts, accounts receivable, accounts payable and current and long-term debt. The carrying values of cash and cash equivalents, financial commodity derivative contracts, accounts receivable and accounts payable approximate fair value. See Notes 2, 12 and 13. Cash and Cash Equivalents. EOG records as cash equivalents all highly liquid short-term investments with original maturities of three months or less. Oil and Gas Operations. EOG accounts for its crude oil and natural gas exploration and production activities under the successful efforts method of accounting. Oil and gas lease acquisition costs are capitalized when incurred. Unproved properties with acquisition costs that are not individually significant are aggregated, and the portion of such costs estimated to be nonproductive is amortized over the remaining lease term. Unproved properties with individually significant acquisition costs are reviewed individually for impairment. If the unproved properties are determined to be productive, the appropriate related costs are transferred to proved oil and gas properties. Lease rentals are expensed as incurred. Oil and gas exploration costs, other than the costs of drilling exploratory wells, are expensed as incurred. The costs of drilling exploratory wells are capitalized pending determination of whether EOG has discovered commercial quantities of proved reserves. If commercial quantities of proved reserves are not discovered, such drilling costs are expensed. In some circumstances, it may be uncertain whether commercial quantities of proved reserves have been discovered when drilling has been completed. Such exploratory well drilling costs may continue to be capitalized if the estimated reserve quantity is sufficient to justify its completion as a producing well and sufficient progress in assessing the reserves and the economic and operating viability of the project is being made (see Note 16). Costs to develop proved reserves, including the costs of all development wells and related equipment used in the production of crude oil and natural gas, are capitalized. Depreciation, depletion and amortization of the cost of proved oil and gas properties is calculated using the unit-of-production method. The reserve base used to calculate depreciation, depletion and amortization for leasehold acquisition costs and the cost to acquire proved properties is the sum of proved developed reserves and proved undeveloped reserves. With respect to lease and well equipment costs, which include development costs and successful exploration drilling costs, the reserve base includes only proved developed reserves. Estimated future dismantlement, restoration and abandonment costs, net of salvage values, are taken into account. Oil and gas properties are grouped in accordance with the provisions of the Extractive Industries - Oil and Gas Topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC). The basis for grouping is a reasonable aggregation of properties with a common geological structural feature or stratigraphic condition, such as a reservoir or field. Amortization rates are updated quarterly to reflect: 1) the addition of capital expenditures, 2) reserve revisions (upwards or downwards) and additions, 3) property acquisitions and/or property dispositions and 4) impairments. When circumstances indicate that proved oil and gas properties may be impaired, EOG compares expected undiscounted future cash flows at a depreciation, depletion and amortization group level to the unamortized capitalized cost of the group. If the expected undiscounted future cash flows, based on EOG's estimate of (and assumptions regarding) future crude oil, NGLs and natural gas prices, operating costs, development expenditures, anticipated production from proved reserves and other relevant data, are lower than the unamortized capitalized cost, the capitalized cost is reduced to fair value. Fair value is generally calculated using the Income Approach described in the Fair Value Measurement Topic of the ASC. In certain instances, EOG utilizes accepted offers from third-party purchasers as the basis for determining fair value. Other Property, Plant and Equipment . Other property, plant and equipment consists of gathering and processing assets, compressors, carbon capture and storage assets, buildings and leasehold improvements, computer hardware and software, vehicles, and furniture and fixtures. Other property, plant and equipment is generally depreciated on a straight-line basis over the estimated useful lives of the property, plant and equipment, which range from 3 years to 45 years. Inventories. Inventories consist primarily of tubular goods, materials for completion operations, well equipment and gathering lines held for use in the exploration for, and development and production of, crude oil, NGLs and natural gas reserves. EOG accounts for inventories at the lower of cost and net realizable value with adjustments made, as appropriate, to recognize any reductions in value. Revenue Recognition. EOG presents disaggregated revenues by type of commodity within its Consolidated Statements of Income and Comprehensive Income and by geographic areas defined as operating segments. See Note 11. Revenues are recognized for the sale of crude oil and condensate, NGLs and natural gas at the point control of the product is transferred to the customer, typically when production is delivered and title or risk of loss transfers to the customer. Arrangements for such sales are evidenced by signed contracts with prices typically based on stated market indices, with certain adjustments for product quality and geographic location. As EOG typically invoices customers shortly after performance obligations have been fulfilled, contract assets and contract liabilities are not recognized. The balances of accounts receivable from contracts with customers as of December 31, 2023 and 2022, were $2,237 million and $2,340 million, respectively, and are included in Accounts Receivable, Net on the Consolidated Balance Sheets. Losses incurred on receivables from contracts with customers are infrequent and have been immaterial. Certain arrangements provide for the sale of fixed quantities of commodities in future years with pricing mechanisms based on future market prices of the commodity at time of delivery. EOG does not disclose the value of these obligations given the uncertainty of the future realized transaction price. Crude Oil and Condensate. EOG sells its crude oil and condensate production at the wellhead or further downstream at a contractually-specified delivery point. Revenue is recognized when control transfers to the customer based on contract terms which reflect prevailing market prices. Any costs incurred prior to the transfer of control, such as gathering and transportation, are recognized as Operating Expenses. Natural Gas Liquids. EOG delivers certain of its natural gas production to either EOG-owned processing facilities or third-party processing facilities, where extraction of NGLs occurs. For EOG-owned facilities, revenue is recognized after processing upon transfer of NGLs to a customer. For third-party facilities, extracted NGLs are sold to the owner of the processing facility at the tailgate, or EOG takes possession and sells the extracted NGLs at the tailgate or exercises its option to sell further downstream to various customers. Under typical arrangements for third-party facilities, revenue is recognized after processing upon the transfer of control of the NGLs, either at the tailgate of the processing plant or further downstream. EOG recognizes revenues based on contract terms which reflect prevailing market prices, with any costs prior to the transfer of control, such as processing, transportation and fractionation fees, recognized as Transportation Costs and Gathering and Processing Costs, as appropriate. Natural Gas. EOG sells its natural gas production either at the wellhead or further downstream at a contractually-specified delivery point. In connection with the extraction of NGLs, EOG sells residue gas under separate agreements. Typically, EOG takes possession of the natural gas at the tailgate of the processing facility and sells it at the tailgate or further downstream. In each case, EOG recognizes revenues when control transfers to the customer, based on contract terms which reflect prevailing market prices. Gathering, Processing and Marketing. Gathering, processing and marketing revenues represent sales of third-party crude oil and condensate, NGLs and natural gas, as well as fees associated with gathering and processing third-party natural gas and revenues from sales of EOG-owned sand. EOG evaluates whether it is the principal or agent under these transactions. As control of the underlying commodity is transferred to EOG prior to the gathering, processing and marketing activities, EOG considers itself the principal of these arrangements. Accordingly, EOG recognizes these transactions on a gross basis. Purchases of third-party commodities are recorded as Marketing Costs, with sales of third-party commodities and fees received for gathering and processing recorded as Gathering, Processing and Marketing revenues. Capitalized Interest Costs. Interest costs have been capitalized as a part of the historical cost of unproved oil and gas properties. The amount capitalized is an allocation of the interest cost incurred during the reporting period. Capitalized interest is computed only during the exploration and development phases and ceases once production begins. The interest rate used for capitalization purposes is based on the interest rates on EOG's outstanding borrowings. Accounting for Risk Management Activities. Financial commodity derivative instruments are recorded on the balance sheet as either an asset or liability measured at fair value, and changes in the instrument's fair value are recognized currently in earnings unless specific hedge accounting criteria are met. During the three-year period ended December 31, 2023, EOG elected not to designate any of its financial commodity derivative instruments as accounting hedges and, accordingly, changes in the fair value of these outstanding derivative instruments are recognized as gains or losses in the period of change. The gains or losses are recorded as Gains (Losses) on Mark-to-Market Financial Commodity Derivative Contracts on the Consolidated Statements of Income and Comprehensive Income. The related cash flow impact of settled contracts is reflected as cash flows from operating activities. EOG employs net presentation of financial commodity derivative assets and liabilities for financial reporting purposes when such assets and liabilities are with the same counterparty and subject to a master netting arrangement. See Note 12. Income Taxes. Income taxes are accounted for using the asset and liability approach. Under this approach, deferred tax assets and liabilities are recognized based on anticipated future tax consequences attributable to differences between financial statement carrying amounts of assets and liabilities and their respective tax basis. EOG assesses the realizability of deferred tax assets and recognizes valuation allowances as appropriate. See Note 6. Effective January 1, 2021, EOG adopted the provisions of ASU 2019-12, "Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes" (ASU 2019-12). There was no impact upon adoption of ASU 2019-12 to EOG's consolidated financial statements or related disclosures. Foreign Currency Translation. The United States dollar is the functional currency for all of EOG's consolidated subsidiaries except for its Canadian subsidiaries, for which the functional currency is the Canadian dollar. For subsidiaries whose functional currency is deemed to be other than the United States dollar, asset and liability accounts are translated at year-end exchange rates and revenues and expenses are translated at average exchange rates prevailing during the year. Translation adjustments are included in Accumulated Other Comprehensive Loss on the Consolidated Balance Sheets. Any gains or losses on transactions or monetary assets or liabilities in currencies other than the functional currency are included in net income in the current period. See Note 4. Net Income Per Share. Basic net income per share is computed on the basis of the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed based upon the weighted-average number of common shares outstanding during the period plus the assumed issuance of common shares for all potentially dilutive securities. See Note 9. Stock-Based Compensation . EOG measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. See Note 7. Leases. In the ordinary course of business, EOG enters into contracts for drilling, fracturing, compression, real estate and other services which contain equipment and other assets and that meet the definition of a lease under ASC "Leases (Topic 842)." The lease term for these contracts, which includes any renewals at EOG's option that are reasonably certain to be exercised, ranges from one month to 30 years. Right of Use (ROU) assets and related liabilities are recognized on the commencement date on the Consolidated Balance Sheets based on future lease payments, discounted based on the rate implicit in the contract, if readily determinable, or EOG's incremental borrowing rate commensurate with the lease term of the contract. EOG estimates its incremental borrowing rate based on the approximate rate required to borrow on a collateralized basis. Contracts with lease terms of less than 12 months are not recorded on the Consolidated Balance Sheets, but instead are disclosed as short-term lease cost. EOG has elected not to separate non-lease components for most asset classes, except for those asset classes where the non-lease (i.e. service) components comprise a material amount of the minimum lease payments. See Note 18. Recently Issued Accounting Standards. In October 2023, the FASB issued ASU 2023-06, "Disclosure Improvements." The ASU incorporates several disclosure and presentation requirements currently residing in SEC Regulations S-X and S-K. The amendments will be applied prospectively and are effective when the SEC removes the related requirements from Regulations S-X or S-K. Any amendments the SEC does not remove by June 30, 2027, will not be effective. As EOG is currently subject to these SEC requirements, this ASU is not expected to have a material impact on our consolidated financial statements or related disclosures. In November 2023, the FASB issued ASU 2023-07 "Segment Reporting (Topic 820)," which updates reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition, the amendment prescribes interim disclosure requirements, clarifies circumstances in which an entity can disclose multiple segment measures of profit or loss, provides new segment disclosure requirements for entities with a single reportable segment, and contains other disclosure requirements. The ASU is effective for public companies with annual periods beginning after December 15, 2023, and interim periods within annual periods beginning after December 15, 2024, with early adoption permitted. EOG is currently evaluating the impact of the standard on our segment reporting disclosures. In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" (ASU 2023-09). ASU 2023-09 requires companies to disclose, on an annual basis, specific categories in the effective tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. In addition, ASU 2023-09 requires companies to disclose additional information about income taxes paid. ASU 2023-09 will be effective for annual periods beginning after December 15, 2024, and although permitted, EOG does not intend to early adopt. EOG is continuing to evaluate the provisions of ASU 2023-09 and does not anticipate a material impact on its consolidated financial statements and related disclosures upon adoption.

Long-Term Debt

Long-Term Debt	12 Months Ended
Long-Term Debt	Dec. 31, 2023
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-Term Debt at December 31, 2023 and 2022 consisted of the following (in millions): 2023 2022 2.625% Senior Notes due 2023 $ — $ 1,250 3.15% Senior Notes due 2025 500 500 4.15% Senior Notes due 2026 750 750 6.65% Senior Notes due 2028 140 140 4.375% Senior Notes due 2030 750 750 3.90% Senior Notes due 2035 500 500 5.10% Senior Notes due 2036 250 250 4.950% Senior Notes due 2050 750 750 Long-Term Debt 3,640 4,890 Finance Leases (see Note 18) 183 215 Less: Current Portion of Long-Term Debt 34 1,283 Unamortized Debt Discount 21 23 Debt Issuance Costs 3 4 Total Long-Term Debt $ 3,765 $ 3,795 The senior notes in the table above are senior, unsecured obligations that rank equally in right of payment with all of our other unsecured and unsubordinated outstanding debt. At December 31, 2023, the aggregate annual maturities of current and long-term debt (excluding finance lease obligations) were zero in 2024, $500 million in 2025, $750 million in 2026, zero in 2027 and $140 million in 2028. At December 31, 2023 and 2022, EOG had no outstanding commercial paper borrowings and did not utilize any commercial paper borrowings during 2023 or 2022. On March 15, 2023, EOG repaid upon maturity the $1,250 million aggregate principal amount of its 2.625% Senior Notes due 2023. On June 7, 2023, EOG entered into a $1.9 billion senior unsecured Revolving Credit Agreement (New Facility) with domestic and foreign lenders (Banks). The New Facility replaced EOG's $2.0 billion senior unsecured Revolving Credit Agreement, dated as of June 27, 2019, with domestic and foreign lenders (2019 Facility), which had a scheduled maturity date of June 27, 2024 and was terminated by EOG (without penalty), effective as of June 7, 2023, in connection with the completion of the New Facility. The New Facility has a scheduled maturity date of June 7, 2028 and includes an option for EOG to extend, on up to two occasions, the term for successive one-year periods, subject to, among certain other terms and conditions, the consent of the Banks holding greater than 50% of the commitments then outstanding under the New Facility. The New Facility commits the Banks to provide advances up to an aggregate principal amount of $1.9 billion outstanding at any given time, with an option for EOG to request increases in the aggregate commitments to an amount not to exceed $3.0 billion, subject to certain terms and conditions. The New Facility also includes a swingline subfacility and a letter of credit subfacility. Advances under the New Facility will accrue interest based, at EOG's option, on either the Secured Overnight Financing Rate (SOFR) plus 0.1% plus an applicable margin, or the Base Rate (as defined in the New Facility) plus an applicable margin. The applicable margin used in connection with interest rates and fees will be based on EOG's credit rating for its senior unsecured long-term debt at the applicable time. Consistent with the terms of the 2019 Facility, the New Facility contains representations, warranties, covenants and events of default that EOG believes are customary for investment grade, senior unsecured commercial bank credit agreements, including a financial covenant for the maintenance of a ratio of Total Debt to Total Capitalization (as such terms are defined in the New Facility) of no greater than 65%. At December 31, 2023, EOG was in compliance with this financial covenant. There were no borrowings or letters of credit outstanding under the 2019 Facility as of (i) December 31, 2022 or (ii) the June 7, 2023 effective date of the closing of the New Facility and termination of the 2019 Facility. Further, at December 31, 2023, there were no borrowings or letters of credit outstanding under the New Facility. The SOFR and Base Rate (inclusive of the applicable margins), had there been any amounts borrowed under the New Facility at December 31, 2023, would have been 6.35% and 8.50%, respectively.

Stockholder's Equity

Stockholder's Equity	12 Months Ended
Stockholder's Equity	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Stockholder's Equity	Stockholders' Equity Common Stock. In September 2001, EOG's Board of Directors (Board) authorized the repurchase of an aggregate maximum of 10 million shares of common stock that superseded all previous authorizations (September 2001 Authorization). EOG last repurchased shares under the September 2001 Authorization in March 2003. Effective November 4, 2021, the Board (i) established a new share repurchase authorization to allow for the repurchase by EOG of up to $5 billion of common stock (November 2021 Authorization) and (ii) revoked and terminated the September 2001 Authorization. Under the November 2021 Authorization, EOG may repurchase shares from time to time, at management's discretion, in accordance with applicable securities laws, including through open market transactions, privately negotiated transactions or any combination thereof. The timing and amount of repurchases is at the discretion of EOG's management and depends on a variety of factors, including the trading price of EOG's common stock, corporate and regulatory requirements, other market and economic conditions, the availability of cash to effect repurchases and EOG's anticipated future capital expenditures and other commitments requiring cash. Repurchased shares are held as treasury shares and are available for general corporate purposes. The November 2021 Authorization has no time limit, does not require EOG to repurchase a specific number of shares and may be modified, suspended, or terminated by the Board at any time. During year ended December 31, 2023, EOG repurchased 8.6 million shares of common stock for approximately $971 million (inclusive of transaction fees and commissions) pursuant to the November 2021 Authorization. As of December 31, 2023, approximately $4 billion remained available for repurchases under the November 2021 Authorization. Included in the Treasury Stock Repurchased amounts on the Consolidated Statements of Stockholders' Equity for the year ended December 31, 2023, is $8 million of estimated federal excise tax. Shares of common stock are from time to time withheld by, or returned to, EOG in satisfaction of tax withholding obligations arising upon the exercise of employee stock options or stock-settled stock appreciation rights (SARs), the vesting of restricted stock, restricted stock unit or performance unit grants or in payment of the exercise price of employee stock options. Such shares withheld or returned prior to November 4, 2021 did not count against the September 2001 Authorization, and such shares withheld or returned on or subsequent to November 4, 2021 have not counted, and will not count, against the November 2021 Authorization. Shares purchased, withheld and returned are held in treasury for, among other purposes, fulfilling any obligations arising under EOG's stock-based compensation plans and any other approved transactions or activities for which such shares of common stock may be required. On February 22, 2024, the Board declared a quarterly cash dividend on the common stock of $0.91 per share to be paid on April 30, 2024, to stockholders of record as of April 16, 2024. The following summarizes Common Stock activity for each of the years ended December 31, 2023, 2022 and 2021 (in thousands): Common Shares Issued Treasury Outstanding Balance at December 31, 2020 583,695 (124) 583,571 Common Stock Issued Under Stock-Based Compensation Plans 1,511 — 1,511 Treasury Stock Purchased (1) — (504) (504) Common Stock Issued Under Employee Stock Purchase Plan 316 — 316 Treasury Stock Issued Under Stock-Based Compensation Plans — 371 371 Balance at December 31, 2021 585,522 (257) 585,265 Common Stock Issued Under Stock-Based Compensation Plans 2,674 — 2,674 Treasury Stock Purchased (1) — (997) (997) Common Stock Issued Under Employee Stock Purchase Plan 201 — 201 Treasury Stock Issued Under Stock-Based Compensation Plans — 554 554 Balance at December 31, 2022 588,397 (700) 587,697 Common Stock Issued Under Stock-Based Compensation Plans 159 — 159 Treasury Stock Purchased (2) — (9,177) (9,177) Common Stock Issued Under Employee Stock Purchase Plan 193 — 193 Treasury Stock Issued Under Stock-Based Compensation Plans — 1,989 1,989 Balance at December 31, 2023 588,749 (7,888) 580,861 (1) Represents shares that were withheld by or returned to EOG (i) in satisfaction of tax withholding obligations that arose upon the exercise of employee stock options or SARs or the vesting of restricted stock, restricted stock unit or performance unit grants or (ii) in payment of the exercise price of employee stock options. (2) Represents shares that were repurchased under the November 2021 Authorization and/or that were withheld by or returned to EOG (i) in satisfaction of tax withholding obligations that arose upon the exercise of employee stock options or SARs or the vesting of restricted stock, restricted stock unit or performance unit grants or (ii) in payment of the exercise price of employee stock options. Preferred Stock . EOG currently has one authorized series of preferred stock - its Series E junior participating preferred stock (Series E Preferred Stock), of which 3,000,000 shares have been designated and authorized. As of December 31, 2023, no shares of Series E Preferred Stock have been issued or are outstanding.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
Accumulated Other Comprehensive Loss	Dec. 31, 2023
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Accumulated other comprehensive loss includes certain transactions that have been reported in the Consolidated Statements of Stockholders' Equity. The components of Accumulated Other Comprehensive Loss at December 31, 2023 and 2022 consisted of the following (in millions): Foreign Currency Translation Adjustment Other Total December 31, 2021 $ (11) $ (1) $ (12) Other comprehensive income before taxes 4 — 4 Tax effects — — — Other comprehensive income 4 — 4 December 31, 2022 (7) (1) (8) Other comprehensive loss before taxes (1) — (1) Tax effects — — — Other comprehensive loss (1) — (1) December 31, 2023 $ (8) $ (1) $ (9) No significant amount was reclassified out of Accumulated Other Comprehensive Loss during the years ended December 31, 2023 and 2022.

Other Income, Net

Other Income, Net	12 Months Ended
Other Income, Net	Dec. 31, 2023
Other Income and Expenses [Abstract]
Other Income, Net	Other Income, NetOther income, net for 2023 included interest income ($240 million), partially offset by an upward adjustment to deferred compensation expense ($7 million). Other income, net for 2022 included interest income ($85 million) and equity income from investments in ammonia plants in Trinidad ($46 million), partially offset by an upward adjustment to deferred compensation expense ($15 million). Other income, net for 2021 included equity income from investments in ammonia plants in Trinidad ($18 million) and interest income ($3 million), partially offset by an upward adjustment to deferred compensation expense ($13 million).

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The principal components of EOG's total net deferred income tax liabilities at December 31, 2023 and 2022 were as follows (in millions): 2023 2022 Deferred Income Tax Assets (Liabilities) Foreign Oil and Gas Exploration and Development Costs Deducted for Tax Under Book Depreciation, Depletion and Amortization $ (26) $ (18) Foreign Asset Retirement Obligations 84 81 Foreign Accrued Expenses and Liabilities 12 13 Foreign Net Operating Loss 97 82 Foreign Valuation Allowances (126) (116) Foreign Other 1 (9) Total Net Deferred Income Tax Assets $ 42 $ 33 Deferred Income Tax (Assets) Liabilities Oil and Gas Exploration and Development Costs Deducted for Tax Over Book Depreciation, Depletion and Amortization $ 5,778 $ 5,291 Financial Commodity Derivative Contracts — (421) Deferred Compensation Plans (61) (58) Equity Awards (59) (60) Corporate Alternative Minimum Tax (212) — Other (44) (42) Total Net Deferred Income Tax Liabilities $ 5,402 $ 4,710 Total Net Deferred Income Tax Liabilities $ 5,360 $ 4,677 The components of Income Before Income Taxes for the years indicated below were as follows (in millions): 2023 2022 2021 United States $ 9,576 $ 9,752 $ 5,787 Foreign 113 149 146 Total $ 9,689 $ 9,901 $ 5,933 The principal components of EOG's Income Tax Provision (Benefit) for the years indicated below were as follows (in millions): 2023 2022 2021 Current: Federal $ 1,334 $ 2,020 $ 1,203 State 76 126 85 Foreign 5 62 105 Total 1,415 2,208 1,393 Deferred: Federal 628 (2) (41) State 55 (37) (62) Foreign — (22) (19) Total 683 (61) (122) Other Non-Current: Foreign (3) (5) (2) Total (3) (5) (2) Income Tax Provision $ 2,095 $ 2,142 $ 1,269 The differences between taxes computed at the U.S. federal statutory tax rate and EOG's effective rate for the years indicated below were as follows: 2023 2022 2021 Statutory Federal Income Tax Rate 21.0 % 21.0 % 21.0 % State Income Tax, Net of Federal Benefit 1.0 0.7 0.3 Income Tax Provision Related to Foreign Operations (0.2) — 0.9 Stock-Based Compensation — — 0.2 Other (0.2) — (1.0) Effective Income Tax Rate 21.6 % 21.7 % 21.4 % Deferred tax assets are recorded for future deductible amounts and certain other tax benefits, such as tax net operating losses (NOLs) and tax credit carryforwards, provided that management assesses the utilization of such assets to be "more likely than not." Management assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets. On the basis of this evaluation, EOG has recorded valuation allowances for the portion of certain foreign and state deferred tax assets that management does not believe are more likely than not to be realized. The principal components of EOG's rollforward of valuation allowances for deferred income tax assets for the years indicated below were as follows (in millions): 2023 2022 2021 Beginning Balance $ 207 $ 219 $ 219 Increase (1) 8 27 15 Decrease (2) — (33) (14) Other (3) 1 (6) (1) Ending Balance $ 216 $ 207 $ 219 (1) Increase in valuation allowance related to the generation of tax NOLs and other deferred tax assets. (2) Decrease in valuation allowance associated with adjustments to certain deferred tax assets and their related allowances. (3) Represents dispositions, revisions and/or foreign exchange rate variances and the effect of statutory income tax rate changes. As of December 31, 2023, EOG has state income tax NOLs of approximately $1.9 billion. Certain state NOLs have an indefinite carryforward and all others expire between 2024 and 2040. EOG also has Canadian NOLs of $333 million, some of which can be carried forward up to 20 years. In 2023, EOG accrued corporate alternative minimum tax (CAMT) of $212 million which resulted in a credit that can be carried forward indefinitely to offset regular federal income taxes in subsequent years. As described previously, these NOLs and other tax benefits have been evaluated for the likelihood of utilization, and valuation allowances have been established for the portion of these deferred income tax assets that do not meet the "more likely than not" threshold. The ability of EOG to utilize CAMT credit carryforwards may be subject to various limitations under the Internal Revenue Code. Such limitations may arise if certain ownership changes (as defined for federal income tax purposes) were to occur. As of December 31, 2023, EOG does not have any unrecognized tax benefits. Consequently, no interest or penalties have been recognized in the Consolidated Statements of Income and Comprehensive Income. EOG does not expect its unrecognized tax benefits to change significantly in the next twelve months. EOG and its subsidiaries file income tax returns and are subject to tax audits in the U.S. and various state, local and foreign jurisdictions. EOG's earliest open tax years in its principal jurisdictions are as follows: U.S. federal (2020), Trinidad (2015), Canada (2019), Oman (2020) and Australia (2021). EOG's foreign subsidiaries' undistributed earnings are not considered to be permanently reinvested outside of the U.S. and, when appropriate, deferred income taxes have been accrued on any such outside basis differences. Additionally, EOG’s foreign earnings may be subject to the U.S. federal "global intangible low-taxed income" (GILTI) inclusion. EOG records any GILTI tax as a period expense.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Employee Benefit Plans	Employee Benefit Plans Stock-Based Compensation During 2023, EOG maintained various stock-based compensation plans as discussed below. EOG recognizes compensation expense on grants of stock options, SARs, restricted stock, restricted stock units and restricted stock units with performance-based conditions (together with the performance units granted under the 2008 Plan (as defined below), Performance Units) and grants made under the EOG Resources, Inc. Employee Stock Purchase Plan (ESPP). Stock-based compensation expense is calculated based upon the grant date estimated fair value of the awards, net of forfeitures, based upon EOG's historical employee turnover rate. Compensation expense is amortized over the shorter of the vesting period or the period from date of grant until the date the employee becomes eligible to retire without company approval. Stock-based compensation expense is included on the Consolidated Statements of Income and Comprehensive Income based upon the job functions of the employees receiving the grants. Compensation expense related to EOG's stock-based compensation plans for the years ended December 31, 2023, 2022 and 2021 was as follows (in millions): 2023 2022 2021 Lease and Well $ 54 $ 40 $ 49 Gathering and Processing Costs 4 4 3 Exploration Costs 24 15 20 General and Administrative 95 74 80 Total $ 177 $ 133 $ 152 The Amended and Restated EOG Resources, Inc. 2008 Omnibus Equity Compensation Plan (2008 Plan) provided for grants of stock options, SARs, restricted stock and restricted stock units, Performance Units, and other stock-based awards. EOG's stockholders approved the EOG Resources, Inc. 2021 Omnibus Equity Compensation Plan (2021 Plan) at the 2021 Annual Meeting of Stockholders. Therefore, no further grants were made from the 2008 Plan from and after the April 29, 2021 effective date of the 2021 Plan. The 2021 Plan provides for grants of stock options, SARs, restricted stock and restricted stock units, Performance Units and other stock-based awards, up to an aggregate maximum of 20 million shares of common stock, plus any shares that were subject to outstanding awards under the 2008 Plan as of April 29, 2021, that are subsequently canceled or forfeited, expire or are otherwise not issued or are settled in cash. Under the 2021 Plan, grants may be made to employees and non-employee members of EOG's Board. The vesting schedules for grants of stock options, SARs, restricted stock and restricted stock units, and Performance Units are generally as follows: Grant Type Vesting Schedule Stock Options/SARs Vesting in increments of one-third on each of the first three anniversaries, respectively, of the date of grant Restricted Stock/Restricted Stock Units "Cliff" vesting three years from the date of grant Performance Units "Cliff" vesting on the February 28th following the three At December 31, 2023, approximately 15 million common shares remained available for grant under the 2021 Plan. EOG's policy is to issue shares related to the 2021 Plan from previously authorized unissued shares or treasury shares to the extent treasury shares are available. During 2023, 2022 and 2021, EOG issued shares in connection with stock option/SAR exercises, restricted stock grants, restricted stock unit and Performance Unit releases and ESPP purchases. Excess net tax benefits / (deficiencies) recognized within the income tax provision were $32 million, $22 million and $(11) million for the years ended December 31, 2023, 2022 and 2021, respectively. Stock Options and Stock-Settled Stock Appreciation Rights and Employee Stock Purchase Plan. Participants in EOG's stock-based compensation plans (including the 2008 Plan and 2021 Plan) have been or may be granted options to purchase shares of Common Stock. In addition, participants in EOG's stock-based compensation plans (including the 2008 Plan and 2021 Plan) have been or may be granted SARs, representing the right to receive shares of Common Stock based on the appreciation in the stock price from the date of grant on the number of SARs granted. Stock options and SARs are granted at a price not less than the market price of the Common Stock on the date of grant. Terms for stock options and SARs granted have generally not exceeded a maximum term of seven years. EOG did not grant any stock options or SARs in 2023. EOG's ESPP allows eligible employees to semi-annually purchase, through payroll deductions, shares of Common Stock at 85 percent of the fair market value at specified dates. Contributions to the ESPP are limited to 10 percent of the employee's pay (subject to certain ESPP limits) during each of the two six-month offering periods each year. The fair value of stock option grants and SAR grants is estimated using the Hull-White II binomial option pricing model. The fair value of ESPP grants is estimated using the Black-Scholes-Merton model. Stock-based compensation expense related to stock option, SAR and ESPP grants totaled $24 million, $34 million and $48 million for the years ended December 31, 2023, 2022 and 2021, respectively. Weighted average fair values and valuation assumptions used to value stock option, SAR and ESPP grants for the years ended December 31, 2023, 2022 and 2021 were as follows: Stock Options/SARs ESPP 2022 2021 2023 2022 2021 Weighted Average Fair Value of Grants $ 28.30 $ 24.92 $ 29.35 $ 26.62 $ 18.12 Expected Volatility 42.20 % 42.24 % 38.01 % 43.00 % 51.27 % Risk-Free Interest Rate 0.89 % 0.50 % 5.02 % 1.30 % 0.07 % Dividend Yield 3.28 % 2.26 % 2.68 % 2.89 % 2.89 % Expected Life 5.3 years 5.2 years 0.5 years 0.5 years 0.5 years Expected volatility is based on an equal weighting of historical volatility and implied volatility from traded options in EOG's Common Stock. The risk-free interest rate is based upon United States Treasury yields in effect at the time of grant. The expected life is based upon historical experience and contractual terms of stock option, SAR and ESPP grants. The following table sets forth the stock option and SAR transactions for the years ended December 31, 2023, 2022 and 2021 (stock options and SARs in thousands): 2023 2022 2021 Number Weighted Number Weighted Number Weighted Outstanding at January 1 4,225 $ 77.49 9,969 $ 84.37 10,186 $ 84.08 Granted — — 2 97.64 1,982 81.68 Exercised (1) (1,294) 73.01 (5,526) 89.70 (1,130) 63.98 Forfeited (88) 87.74 (220) 82.74 (1,069) 98.15 Outstanding at December 31 2,843 79.22 4,225 77.49 9,969 84.37 Stock Options/SARs Exercisable at December 31 2,282 78.60 2,462 84.53 6,197 95.33 (1) The total intrinsic value of stock options/SARs exercised during the years 2023, 2022 and 2021 was $70 million, $190 million and $27 million, respectively. The intrinsic value is based upon the difference between the market price of the Common Stock on the date of exercise and the grant price of the stock options/SARs. At December 31, 2023, there were 2.8 million stock options/SARs vested or expected to vest with a weighted average grant price of $79.17 per share, an intrinsic value of $119 million and a weighted average remaining contractual life of 3.3 years. The following table summarizes certain information for the stock options and SARs outstanding and exercisable at December 31, 2023 (stock options and SARs in thousands): Stock Options/SARs Outstanding Stock Options/SARs Exercisable Range of Stock Weighted Weighted Aggregate Intrinsic Value (1) Stock Weighted Weighted Aggregate Intrinsic Value (1) $ 34.00 to $ 52.99 634 3 $ 37.49 633 3 $ 37.46 53.00 to 80.99 380 3 74.99 376 3 75.03 81.00 to 81.99 1,140 5 81.81 588 4 81.81 82.00 to 96.99 246 1 95.97 242 1 96.09 97.00 to 129.99 443 2 126.57 443 2 126.58 2,843 3 79.22 $ 121 2,282 3 78.60 $ 99 (1) Based upon the difference between the closing market price of the Common Stock on the last trading day of the year and the grant price of in-the-money stock options and SARs, in millions. At December 31, 2023, unrecognized compensation expense related to non-vested stock option and SAR grants totaled $13 million. This unrecognized expense will be amortized on a straight-line basis over a weighted average period of 0.7 years. At the 2018 Annual Meeting of Stockholders, EOG stockholders approved an amendment and restatement of the ESPP to (among other changes) increase the number of shares available for grant. At December 31, 2023, approximately 1.2 million shares of Common Stock remained available for grant under the ESPP. The following table summarizes ESPP activity for the years ended December 31, 2023, 2022 and 2021 (in thousands, except number of participants): 2023 2022 2021 Approximate Number of Participants 2,015 1,969 2,036 Shares Purchased 193 201 316 Aggregate Purchase Price $ 18,759 $ 17,250 $ 17,224 Restricted Stock and Restricted Stock Units. Employees may be granted restricted (non-vested) stock and/or restricted stock units without cost to them. Upon vesting of restricted stock, shares of Common Stock are released to the employee. Upon vesting, restricted stock units are converted into shares of Common Stock and released to the employee. Stock-based compensation expense related to restricted stock and restricted stock units totaled $137 million, $88 million and $89 million for the years ended December 31, 2023, 2022 and 2021, respectively. The following table sets forth the restricted stock and restricted stock unit transactions for the years ended December 31, 2023, 2022 and 2021 (shares and units in thousands): 2023 2022 2021 Number of Shares and Units Weighted Average Grant Date Fair Value Number of Shares and Units Weighted Average Grant Date Fair Value Number of Shares and Units Weighted Average Grant Date Fair Value Outstanding at January 1 4,113 $ 80.77 4,680 $ 69.37 4,742 $ 74.97 Granted 1,680 131.10 1,637 113.21 1,422 81.50 Released (1) (1,295) 42.03 (2,019) 81.76 (1,388) 101.00 Forfeited (134) 93.54 (185) 68.89 (96) 68.26 Outstanding at December 31 (2) 4,364 111.24 4,113 80.77 4,680 69.37 (1) (1) The total intrinsic value of restricted stock and restricted stock units released during the years ended December 31, 2023, 2022 and 2021 was $166 million, $223 million and $110 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date restricted stock and restricted stock units are released. (2) (2) The total intrinsic value of restricted stock and restricted stock units outstanding at December 31, 2023, 2022 and 2021 was $528 million, $533 million and $416 million, respectively. The intrinsic value is based on the closing market price of the Common Stock on the last trading day of the year. At December 31, 2023, unrecognized compensation expense related to restricted stock and restricted stock units totaled $357 million. Such unrecognized expense will be recognized on a straight-line basis over a weighted average period of 1.8 years. Performance Units. EOG has granted Performance Units to its executive officers annually since 2012. For the grants made prior to September 2022, as more fully discussed in the grant agreements, the applicable performance metric is EOG's total shareholder return (TSR) over a three-year performance period relative to the TSR over the same period of a designated group of peer companies. Upon the application of the applicable performance multiple at the completion of the three-year performance period, a minimum of 0% and a maximum of 200% of the Performance Units granted could be outstanding. For the grants made beginning in September 2022, as more fully discussed in the grant agreements, the applicable performance metrics are 1) EOG's TSR over a three-year performance period relative to the TSR over the same period of a designated group of peer companies and 2) EOG's average return on capital employed (ROCE) over the three-year performance period. At the end of the three-year performance period, a performance multiple based on EOG's relative TSR ranking will be determined, with a minimum performance multiple of 0% and a maximum performance multiple of 200%. A specified modifier ranging from -70% to +70% will then be applied to the performance multiple based on EOG's average ROCE over the three-year performance period, provided that in no event shall the performance multiple, after applying the ROCE modifier, be less than 0% or exceed 200%. Furthermore, if EOG's TSR over the three-year performance period is negative (i.e., less than 0%), the performance multiple will be capped at 100%, regardless of EOG's relative TSR ranking or three-year average ROCE. The fair value of the Performance Units is estimated using a Monte Carlo simulation. Stock-based compensation expense related to the Performance Unit grants totaled $16 million, $11 million and $15 million for the years ended December 31, 2023, 2022 and 2021, respectively. Weighted average fair values and valuation assumptions used to value Performance Units during the years ended December 31, 2023, 2022 and 2021 were as follows: 2023 2022 2021 Weighted Average Fair Value of Grants $ 142.20 $ 126.55 $ 95.16 Expected Volatility 44.76 % 56.11 % 53.80 % Risk-Free Interest Rate 4.53 % 4.01 % 0.59 % Expected volatility is based on the term-matched historical volatility over the simulated term, which is calculated as the time between the grant date and the end of the performance period. The risk-free interest rate is derived from the Treasury Constant Maturities yield curve on the grant date. The following table sets forth the Performance Unit transactions for the years ended December 31, 2023, 2022 and 2021 (units in thousands): 2023 2022 2021 Number of Units Weighted Average Grant Date Fair Value Number of Units Weighted Average Grant Date Fair Value Number of Units Weighted Average Grant Date Fair Value Outstanding at January 1 688 $ 83.82 679 $ 84.97 613 $ 88.38 Granted 114 142.20 122 126.55 222 95.16 Granted for Performance Multiple (1) — — — — 19 113.81 Released (2) (86) 79.98 (57) 136.74 (175) 113.06 Forfeited for Performance Multiple (3) (86) 79.98 (56) 136.74 — — Outstanding at December 31 (4) 630 (5) 95.49 688 83.82 679 84.97 (1) Upon completion of the performance period for the Performance Units granted in 2017, a performance multiple of 125% was applied to the grants resulting in additional grants of Performance Units in February 2021. (2) The total intrinsic value of Performance Units released during the years ended December 31, 2023, 2022 and 2021 was $10 million, $7 million and $13 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date Performance Units are released. (3) Upon completion of the performance period for the Performance Units granted in 2019 and 2018, a performance multiple of 50% was applied to each of the grants resulting in a forfeiture of Performance Units in both February 2023 and February 2022. (4) The total intrinsic value of Performance Units outstanding at December 31, 2023, 2022 and 2021 was $76 million, $89 million and $60 million, respectively. The intrinsic value is based on the closing market price of the Common Stock on the last trading day of the year. (5) Upon the application of the relevant performance multiple at the completion of each of the remaining performance periods, a minimum of zero and a maximum of 1,261 Performance Units could be outstanding. At December 31, 2023, unrecognized compensation expense related to Performance Units totaled $18 million. Such unrecognized expense will be amortized on a straight-line basis over a weighted average period of 1.7 years. Upon completion of the performance period for the Performance Units granted in September 2020, a performance multiple of 25% was applied to the grants resulting in a forfeiture of 134,981 Performance Units in February 2024. Pension Plans. EOG has a defined contribution pension plan in place for most of its employees in the United States. EOG's contributions to the pension plan are based on various percentages of compensation and, in some instances, are based upon the amount of the employees' contributions. EOG's total costs recognized for the plan were $61 million, $56 million and $52 million for 2023, 2022 and 2021, respectively. In addition, EOG's Trinidadian subsidiary maintains a contributory defined benefit pension plan and a matched savings plan. These pension plans are available to most employees of the Trinidadian subsidiary. EOG's combined contributions to these plans were $1 million, for each of 2023, 2022 and 2021, respectively. For the Trinidadian defined benefit pension plan, the benefit obligation, fair value of plan assets and (prepaid)/accrued benefit cost totaled $16 million, $16 million and $(0.9) million, respectively, at December 31, 2023, and $14 million, $15 million and $(0.5) million, respectively, at December 31, 2022. Postretirement Health Care. EOG has postretirement medical and dental benefits in place for eligible United States and Trinidad employees and their eligible dependents, the costs of which are not material.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Letters of Credit and Guarantees. At December 31, 2023 and 2022, respectively, EOG had standby letters of credit and guarantees outstanding totaling approximately $907 million and $776 million, primarily representing guarantees of payment or performance obligations on behalf of subsidiaries. As of February 16, 2024, EOG had received no demands for payment under these guarantees. Minimum Commitments. At December 31, 2023, total minimum commitments from purchase and service obligations and transportation and storage service commitments not qualifying as leases, based on current transportation and storage rates and the foreign currency exchange rates used to convert Canadian dollars into United States dollars at December 31, 2023, were as follows (in millions): Total Minimum 2024 $ 1,751 2025 1,201 2026 983 2027 829 2028 545 2029 and beyond 1,375 $ 6,684 Delivery Commitments. EOG sells crude oil and natural gas from its producing operations under a variety of contractual arrangements. At December 31, 2023, EOG was committed to deliver to multiple parties fixed quantities of crude oil of 7 million barrels (MMBbls) in 2024 and 1 MMBbls in 2025. Additionally at December 31, 2023, EOG was committed to deliver to multiple parties fixed quantities of natural gas of 371 billion cubic feet (Bcf) in 2024, 282 Bcf in 2025, 297 Bcf in 2026, 293 Bcf in 2027, 263 Bcf in 2028 and 3,277 Bcf thereafter. All delivery commitments are expected to be sourced from future production of available reserves. Contingencies. There are currently various suits and claims pending against EOG that have arisen in the ordinary course of EOG's business, including contract disputes, personal injury and property damage claims and title disputes. While the ultimate outcome and impact on EOG cannot be predicted, management believes that the resolution of these suits and claims will not, individually or in the aggregate, have a material adverse effect on EOG's consolidated financial position, results of operations or cash flow. EOG records reserves for contingencies when information available indicates that a loss is probable and the amount of the loss can be reasonably estimated.

Net Income Per Share

Net Income Per Share	12 Months Ended
Net Income Per Share	Dec. 31, 2023
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share The following table sets forth the computation of Net Income Per Share for the years ended December 31, 2023, 2022 and 2021 (in millions, except per share data): 2023 2022 2021 Numerator for Basic and Diluted Earnings per Share - Net Income $ 7,594 $ 7,759 $ 4,664 Denominator for Basic Earnings per Share - Weighted Average Shares 581 583 581 Potential Dilutive Common Shares - Stock Options/SARs 1 2 — Restricted Stock/Units and Performance Units 2 2 3 Denominator for Diluted Earnings per Share - Adjusted Diluted Weighted Average Shares 584 587 584 Net Income Per Share Basic $ 13.07 $ 13.31 $ 8.03 Diluted $ 13.00 $ 13.22 $ 7.99

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
Supplemental Cash Flow Information	Dec. 31, 2023
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Net cash paid for interest and income taxes was as follows for the years ended December 31, 2023, 2022 and 2021 (in millions): 2023 2022 2021 Interest, Net of Capitalized Interest $ 161 $ 173 $ 185 Income Taxes, Net of Refunds Received $ 1,229 $ 2,475 $ 1,114 EOG's accrued capital expenditures and amounts recorded within accounts payable at December 31, 2023, 2022 and 2021 were $631 million, $713 million and $592 million, respectively. Non-cash investing activities for the year ended December 31, 2023, included additions of $195 million to EOG's oil and gas properties as a result of property exchanges. Non-cash investing activities for the year ended December 31, 2022, included additions of $153 million to EOG's oil and gas properties as a result of property exchanges. Non-cash investing activities for the year ended December 31, 2021, included additions of $50 million to EOG's oil and gas properties as a result of property exchanges and an addition of $74 million to EOG's other property, plant and equipment made in connection with finance lease transactions for storage facilities. Cash paid for leases for the years ended December 31, 2023, 2022 and 2021, is disclosed in Note 18.

Business Segment Information

Business Segment Information	12 Months Ended
Business Segment Information	Dec. 31, 2023
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information EOG's operations are all crude oil, NGLs and natural gas exploration and production-related. The Segment Reporting Topic of the ASC establishes standards for reporting information about operating segments in annual financial statements. Operating segments are defined as components of an enterprise about which separate financial information is available and evaluated regularly by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. EOG's chief operating decision-making process is informal and involves the Chairman of the Board and Chief Executive Officer and other key officers. This group routinely reviews and makes operating decisions related to significant issues associated with each of EOG's major producing areas (including in the United States and in Trinidad) and its exploration programs both inside and outside the United States. For segment reporting purposes, the chief operating decision makers consider the major United States producing areas to be one operating segment. Financial information by reportable segment is presented below as of and for the years ended December 31, 2023, 2022 and 2021 (in millions): United Trinidad Other International (1) Total 2023 Crude Oil and Condensate $ 13,734 $ 14 $ — $ 13,748 Natural Gas Liquids 1,884 — — 1,884 Natural Gas 1,530 214 — 1,744 Gains on Mark-to-Market Financial Commodity Derivative Contracts, Net 818 — — 818 Gathering, Processing and Marketing 5,806 — — 5,806 Gains on Asset Dispositions, Net 53 42 — 95 Other, Net 91 — — 91 Operating Revenues and Other (2) 23,916 270 — 24,186 Depreciation, Depletion and Amortization 3,414 78 — 3,492 Operating Income (Loss) (3) 9,516 124 (37) 9,603 Interest Income 223 12 5 240 Other Income (Expense) (6) 1 (1) (6) Interest Expense, Net 148 — — 148 Income (Loss) Before Income Taxes 9,585 137 (33) 9,689 Income Tax Provision 2,093 2 — 2,095 Additions to Oil and Gas Properties, Excluding Dry Hole Costs 5,413 162 4 5,579 Total Property, Plant and Equipment, Net 31,876 404 17 32,297 Total Assets 42,674 1,063 120 43,857 2022 Crude Oil and Condensate $ 16,349 $ 18 $ — $ 16,367 Natural Gas Liquids 2,648 — — 2,648 Natural Gas 3,489 292 — 3,781 Losses on Mark-to-Market Financial Commodity Derivative Contracts, Net (3,982) — — (3,982) Gathering, Processing and Marketing 6,695 1 — 6,696 Gains (Losses) on Asset Dispositions, Net 77 (4) 1 74 Other, Net 118 — — 118 Operating Revenues and Other (4) 25,394 307 1 25,702 Depreciation, Depletion and Amortization 3,469 73 — 3,542 Operating Income (Loss) (5) 9,880 122 (36) 9,966 Interest Income 81 2 2 85 Other Income (Expense) (17) 46 — 29 Interest Expense, Net 179 — — 179 Income (Loss) Before Income Taxes 9,765 170 (34) 9,901 Income Tax Provision 2,106 35 1 2,142 Additions to Oil and Gas Properties, Excluding Dry Hole Costs 4,599 122 6 4,727 Total Property, Plant and Equipment, Net 29,109 307 13 29,429 Total Assets 40,349 879 143 41,371 United Trinidad Other International (1) Total 2021 Crude Oil and Condensate $ 11,094 $ 31 $ — $ 11,125 Natural Gas Liquids 1,812 — — 1,812 Natural Gas 2,156 270 18 2,444 Losses on Mark-to-Market Financial Commodity Derivative Contracts, Net (1,152) — — (1,152) Gathering, Processing and Marketing 4,287 1 — 4,288 Gains (Losses) on Asset Dispositions, Net (40) (2) 59 17 Other, Net 108 — — 108 Operating Revenues and Other (6) 18,265 300 77 18,642 Depreciation, Depletion and Amortization 3,558 87 6 3,651 Operating Income (Loss) (7) 6,013 151 (62) 6,102 Interest Income 3 — — 3 Other Income (Expense) (14) 8 12 6 Interest Expense, Net 178 — — 178 Income (Loss) Before Income Taxes 5,824 159 (50) 5,933 Income Tax Provision (Benefit) 1,247 66 (44) 1,269 Additions to Oil and Gas Properties, Excluding Dry Hole Costs 3,557 55 5 3,617 Total Property, Plant and Equipment, Net 28,213 204 9 28,426 Total Assets 37,436 637 163 38,236 (1) Other International primarily consists of EOG's China and Canada operations. The China operations were sold in the second quarter of 2021. EOG is continuing the process of exiting its Canada operations. EOG began exploration programs in Australia in the third quarter of 2021 and in Oman in the third quarter of 2020. The decision was reached in the fourth quarter of 2021 to exit Block 36 and Block 49 in Oman. (2) EOG had sales activity with three significant purchasers in 2023, one totaling $3.3 billion and two others totaling $2.6 billion each of consolidated Operating Revenues and Other in the United States segment. (3) EOG recorded pretax impairment charges of $18 million in 2023 for proved oil and gas properties and firm commitment contracts related to its decision to exit the Horn River Basin in British Columbia, Canada, in the Other International segment. See Note 14. (4) EOG had sales activity with three significant purchasers in 2022, one totaling $3.3 billion, another totaling $3.1 billion and a third totaling $3.0 billion of consolidated Operating Revenues and Other in the United States segment. (5) EOG recorded pretax impairment charges of $15 million in 2022 for proved oil and gas properties and firm commitment contracts related to its decision to exit the Horn River Basin in British Columbia, Canada, in the Other International segment. See Note 14. (6) EOG had sales activity with two significant purchasers in 2021, one totaling $2.7 billion and the other totaling $2.6 billion of consolidated Operating Revenues and Other in the United States segment. (7) EOG recorded pretax impairment charges of $45 million and dry hole costs of $42 million in 2021 in the Other International segment related to its decision in the fourth quarter of 2021 to exit Block 36 and Block 49 in Oman. In addition, EOG recorded net gains of asset dispositions of $58 million in 2021 in the Other International segment during the second quarter of 2021 due to the sale of its China operations. See Notes 14 and 17, respectively.

Risk Management Activities

Risk Management Activities	12 Months Ended
Risk Management Activities	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Risk Management Activities	Risk Management Activities Commodity Price Transactions. EOG engages in price risk management activities from time to time. These activities are intended to manage EOG's exposure to fluctuations in commodity prices for crude oil, NGLs and natural gas. EOG utilizes financial commodity derivative instruments, primarily price swap, option, swaption, collar and basis swap contracts, as a means to manage this price risk. During 2023, 2022 and 2021, EOG elected not to designate any of its financial commodity derivative contracts as accounting hedges and, accordingly, accounted for these financial commodity derivative contracts using the mark-to-market accounting method. Under this accounting method, changes in the fair value of outstanding financial instruments are recognized as gains or losses in the period of change and are recorded as Gains (Losses) on Mark-to-Market Financial Commodity Derivative Contracts, Net on the Consolidated Statements of Income and Comprehensive Income. The related cash flow impact is reflected in Cash Flows from Operating Activities. During 2023, 2022 and 2021, EOG recognized net gains (losses) on the mark-to-market of financial commodity derivative contracts of $818 million, $(3,982) million and $(1,152) million, respectively, which included net cash payments for settlements of crude oil, NGLs and natural gas financial derivative contracts of $(112) million, $(3,501) million and $(638) million, respectively. Presented below is a comprehensive summary of EOG's financial commodity derivative contracts settled during the year ended December 31, 2023 (closed) and remaining for 2024 and thereafter, as of December 31, 2023. Crude oil 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 Volume (MBbld) Weighted Average January - March 2023 (closed) NYMEX WTI 95 $ 67.90 6 $ 102.26 April - May 2023 (closed) NYMEX WTI 91 67.63 2 98.15 June 2023 (closed) NYMEX WTI 2 69.10 2 98.15 Natural Gas Financial Price Swap Contracts Contracts Sold Period Settlement Index Volume Weighted Average January 2023 - December 2023 (closed) NYMEX Henry Hub 300 $ 3.36 January 2024 (closed) NYMEX Henry Hub 725 3.07 February - December 2024 NYMEX Henry Hub 725 3.07 January - December 2025 NYMEX Henry Hub 725 3.07 Natural Gas Basis Swap Contracts Contracts Sold Period Settlement Index Volume Weighted Average Price Differential January - December 2023 (closed) NYMEX Henry Hub Houston Ship Channel (HSC) Differential (1) 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. Financial Commodity Derivatives Location on Balance Sheet. The following table sets forth the amounts and classification of EOG's outstanding derivative financial instruments at December 31, 2023 and 2022, 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 2023 2022 Asset Derivatives Crude oil, NGLs and natural gas financial derivative contracts - Current portion Assets from Price Risk Management (1) $ 106 $ — Liability Derivatives Crude oil, NGLs and natural gas financial derivative contracts - Current portion Liabilities from Price Risk Management Activities $ — $ 169 Noncurrent Portion Other Liabilities (2) 103 371 (1) The current portion of Assets from Price Risk Management Activities consists of gross assets of $106 million at December 31, 2023. (2) The noncurrent portion of Liabilities from Price Risk Management Activities consists of gross liabilities of $104 million, partially offset by gross assets of $1 million, at December 31, 2023. Credit Risk. Notional contract amounts are used to express the magnitude of a financial derivative. The amounts potentially subject to credit risk, in the event of nonperformance by the counterparties, are equal to the fair value of such contracts (see Note 13). EOG evaluates its exposure to significant counterparties on an ongoing basis, including those arising from physical and financial transactions. In some instances, EOG renegotiates payment terms and/or requires collateral, parent guarantees or letters of credit to minimize credit risk. At December 31, 2023, EOG's net accounts receivable balance related to United States hydrocarbon sales included three receivable balances, each of which accounted for more than 10% of the total balance. The receivables were due from three petroleum refinery companies. The related amounts were collected during early 2024. At December 31, 2022, EOG's net accounts receivable balance related to United States hydrocarbon sales included one receivable balance which accounted for more than 10% of the total balance. The receivable was due from a petroleum refinery company. The related amount was collected during early 2023. In 2023 and 2022, all natural gas from EOG's Trinidad operations was sold to the National Gas Company of Trinidad and Tobago Limited and its subsidiary. In 2023 and 2022, all crude oil and condensate from EOG's Trinidad operations was sold to Heritage Petroleum Company Limited. All of EOG's financial derivative instruments are covered by International Swap Dealers Association Master Agreements (ISDAs) with counterparties. The ISDAs may contain provisions that (i) require EOG, if it is the party in a net liability position, to post collateral with the counterparty when the amount of the net liability exceeds the threshold level specified for EOG's then-current credit ratings or (ii) require the counterparty, if it is in a net liability position, to post collateral with EOG when the amount of the net liability exceeds the threshold level specified for the counterparty's then-current credit ratings. In addition, the ISDAs may also provide that as a result of certain circumstances, including certain events that cause EOG's credit ratings to become materially weaker than its then-current ratings, the counterparty may require all outstanding financial derivatives under the ISDA to be settled immediately. See Note 13 for the aggregate fair value of all financial derivative instruments that were in a net liability position at December 31, 2023 and 2022. EOG had no collateral posted or held at December 31, 2023 and had $324 million of collateral posted and no collateral held at December 31, 2022.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
Fair Value Measurements	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Certain of EOG's financial and nonfinancial assets and liabilities are reported at fair value on the Consolidated Balance Sheets. An established fair value hierarchy prioritizes the relative reliability of inputs used in fair value measurements. The hierarchy gives highest priority to Level 1 inputs that represent unadjusted quoted market prices in active markets for identical assets and liabilities that the reporting entity has the ability to access at the measurement date. Level 2 inputs are directly or indirectly observable inputs other than quoted prices included within Level 1. Level 3 inputs are unobservable inputs and have the lowest priority in the hierarchy. EOG gives consideration to the credit risk of its counterparties, as well as its own credit risk, when measuring financial assets and liabilities at fair value. Recurring Fair Value Measurements. The following table provides fair value measurement information within the fair value hierarchy for certain of EOG's financial assets and liabilities carried at fair value on a recurring basis at December 31, 2023 and 2022 (in millions): Fair Value Measurements Using: Quoted Significant Significant Total At December 31, 2023 Financial Assets: Natural Gas Swaps $ — $ 105 $ — $ 105 Natural Gas Basis Swaps — 2 — 2 Financial Liabilities: Natural Gas Swaps — 104 — 104 At December 31, 2022 Financial Assets: Natural Gas Basis Swaps $ — $ 29 $ — $ 29 Financial Liabilities: Natural Gas Swaps — 703 — 703 Crude Oil Swaps — 190 — 190 See Note 12 for the balance sheet amounts and classification of EOG's financial derivative instruments at December 31, 2023 and 2022. The estimated fair value of crude oil, NGLs and natural gas financial derivative contracts (including options/collars) was based upon forward commodity price curves based on quoted market prices. Financial commodity derivative contracts were valued by utilizing an independent third-party derivative valuation provider who uses various types of valuation models, as applicable. Non-Recurring Fair Value Measurements. The initial measurement of asset retirement obligations at fair value is calculated using discounted cash flow techniques and based on internal estimates of future retirement costs associated with property, plant and equipment. Significant Level 3 inputs used in the calculation of asset retirement obligations include plugging costs and reserve lives. A reconciliation of EOG's asset retirement obligations is presented in Note 15. When circumstances indicate that proved oil and gas properties may be impaired, EOG compares expected undiscounted future cash flows at a depreciation, depletion and amortization group level to the unamortized capitalized cost of the group. If the expected undiscounted future cash flows, based on EOG's estimate of (and assumptions regarding) significant Level 3 inputs, including future crude oil, NGLs and natural gas prices, operating costs, development expenditures, anticipated production from proved reserves and other relevant data, are lower than the unamortized capitalized cost, the capitalized cost is reduced to fair value. Fair value is generally calculated using the Income Approach described in the Fair Value Measurement Topic of the ASC. In certain instances, EOG utilizes accepted offers from third-party purchasers as the basis for determining fair value. During 2023, proved oil and gas properties with a carrying amount of $59 million were written down to their fair value of $15 million, resulting in pretax impairment charges of $44 million. During 2022, proved oil and gas properties with a carrying amount of $146 million were written down to their fair value of $26 million, resulting in pretax impairment charges of $120 million During 2021, proved oil and gas properties with a carrying amount of $27 million were written down to their fair value of $7 million, resulting in pretax impairment charges of $20 million. EOG utilized average prices per acre from comparable market transactions and estimated discounted cash flows as the basis for determining the fair value of unproved and proved properties, respectively, received in non-cash property exchanges. See Note 10. Fair Value of Debt. At December 31, 2023 and 2022, respectively, EOG had outstanding $3,640 million and $4,890 million aggregate principal amount of senior notes, which had estimated fair values of $3,574 million and $4,740 million, respectively. The estimated fair value of debt was based upon quoted market prices and, where such prices were not available, other observable (Level 2) inputs regarding interest rates available to EOG at year-end. Natural Gas Sales Linked to Brent Crude Oil . In February 2024, EOG entered into a 10-year agreement, commencing in 2027, to sell 180,000 MMBtud of its domestic natural gas production, with 140,000 MMBtud to be sold at a price indexed to Brent Crude Oil (Brent) and the remaining volumes to be sold at a price indexed to Brent or a U.S. Gulf Coast gas index. It was determined that this agreement meets the definition of a derivative under the Derivatives and Hedging Topic of the ASC and does not qualify for the normal purchases and normal sales scope exception. As such, this agreement will be accounted for as a derivative beginning in the first quarter of 2024 (effective upon the execution of the agreement) using the mark-to-market accounting method. Changes in the fair value will be recognized as gains or losses in the period of change on the Consolidated Statements of Income and Comprehensive Income.

Impairment Expense

Impairment Expense	12 Months Ended
Impairment Expense	Dec. 31, 2023
Impairment Expense [Abstract]
Impairment Expense	Impairment Expense Impairment expense was as follows for the years ended December 31, 2023, 2022 and 2021 (in millions): 2023 2022 2021 Proved properties $ 44 $ 120 $ 20 Unproved properties (1) 125 206 310 Other assets 31 29 28 Inventories — 25 13 Firm commitment contracts 2 2 5 Total $ 202 $ 382 $ 376 (1) Unproved properties with acquisition costs that are not individually significant are aggregated, and the portion of such costs estimated to be nonproductive is amortized over the remaining lease term. Unproved properties with individually significant acquisition costs are reviewed individually for impairment. Impairments of unproved oil and gas properties included $38 million in 2021 for the decision in the fourth quarter of 2021 to exit Block 36 and Block 49 in Oman. See Note 1.

Asset Retirement Obligations

Asset Retirement Obligations	12 Months Ended
Asset Retirement Obligations	Dec. 31, 2023
Asset Retirement Obligations, Noncurrent [Abstract]
Asset Retirement Obligations	Asset Retirement Obligations The following table presents the reconciliation of the beginning and ending aggregate carrying amounts of short-term and long-term legal obligations associated with the retirement of property, plant and equipment for the years ended December 31, 2023 and 2022 (in millions): 2023 2022 Carrying Amount at Beginning of Period $ 1,328 $ 1,231 Liabilities Incurred 71 100 Liabilities Settled (1) (114) (215) Accretion 53 43 Revisions 166 173 Foreign Currency Translations 2 (4) Carrying Amount at End of Period $ 1,506 $ 1,328 Current Portion $ 37 $ 38 Noncurrent Portion $ 1,469 $ 1,290 (1) Includes settlements related to asset sales and property exchanges. The current and noncurrent portions of EOG's asset retirement obligations are included in Current Liabilities - Other and Other Liabilities, respectively, on the Consolidated Balance Sheets.

Exploratory Well Costs

Exploratory Well Costs	12 Months Ended
Exploratory Well Costs	Dec. 31, 2023
Capitalized Exploratory Well Costs [Abstract]
Exploratory Well Costs	Exploratory Well Costs EOG's net changes in capitalized exploratory well costs for the years ended December 31, 2023, 2022 and 2021 are presented below (in millions): 2023 2022 2021 Balance at January 1 $ 15 $ 7 $ 29 Additions Pending the Determination of Proved Reserves 195 135 73 Reclassifications to Proved Properties (133) (88) (41) Costs Charged to Expense (1) (1) (39) (54) Balance at December 31 $ 76 $ 15 $ 7 (1) Includes capitalized exploratory well costs charged to either dry hole costs or impairments. 2023 2022 2021 Capitalized exploratory well costs that have been capitalized for a period of one year or less $ 73 $ 15 $ 7 Capitalized exploratory well costs that have been capitalized for a period greater than one year (1) 3 — — Balance at December 31 $ 76 $ 15 $ 7 Number of exploratory wells that have been capitalized for a period greater than one year 2 — — (1) Consists of costs related to two projects in the United States at December 31, 2023.

Acquisitions and Divestitures

Acquisitions and Divestitures	12 Months Ended
Acquisitions and Divestitures	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures During 2023, EOG paid cash for property acquisitions of $144 million, primarily to acquire a gathering and processing system in the Powder River Basin. Additionally during 2023, EOG recognized net gains on asset dispositions of $95 million and received proceeds of $140 million primarily due to the sale of EOG's equity interest in ammonia plant investments in Trinidad, the sale of certain legacy assets in the Texas Panhandle, the sale of certain gathering and processing assets and the sale of certain other assets. During 2022, EOG paid cash for property acquisitions of $393 million in the United States. Additionally during 2022, EOG recognized net gains on asset dispositions of $74 million and received proceeds of $349 million primarily due to the sale of certain legacy natural gas assets in the Rocky Mountain area, unproved leasehold in Texas and producing properties in the Mid-Continent area. During 2021, EOG paid cash for property acquisitions of $95 million in the United States. Additionally during 2021, EOG recognized net gains on asset dispositions of $17 million and received proceeds of $231 million primarily due to the sale of the China assets and the disposition of the Northwest Shelf assets in New Mexico. Additionally, in the fourth quarter of 2021, EOG signed a purchase and sale agreement for the sale of primarily producing properties in the Rocky Mountain area. At December 31, 2021, the book value of these assets and their related asset retirement obligations were $99 million and $105 million, respectively.

Leases

Leases	12 Months Ended
Leases	Dec. 31, 2023
Leases [Abstract]
Leases	Leases Lease costs are classified by the function of the ROU asset. The lease costs related to exploration and development activities are initially included in the Oil and Gas Properties line on the Consolidated Balance Sheets and subsequently accounted for in accordance with the Extractive Industries - Oil and Gas Topic of the ASC. Variable lease cost represents costs incurred above the contractual minimum payments and other charges associated with leased equipment, primarily for drilling and fracturing contracts classified as operating leases. The components of lease cost for the years ended December 31, 2023, 2022 and 2021 were as follows (in millions): 2023 2022 2021 Operating Lease Cost $ 387 $ 282 $ 295 Finance Lease Cost: Amortization of Lease Assets 33 36 39 Interest on Lease Liabilities 5 6 7 Variable Lease Cost 91 71 63 Short-Term Lease Cost 567 425 257 Total Lease Cost $ 1,083 $ 820 $ 661 The following table sets forth the amounts and classification of EOG's outstanding ROU assets and related lease liabilities at December 31, 2023 and 2022 and supplemental information for the years ended December 31, 2023 and 2022 (in millions, except lease terms and discount rates): Description Location on Balance Sheet 2023 2022 Assets Operating Leases Other Assets $ 974 $ 846 Finance Leases Property, Plant and Equipment, Net (1) 170 203 Total $ 1,144 $ 1,049 Liabilities Current Operating Leases Current Portion of Operating Lease Liabilities $ 325 $ 296 Finance Leases Current Portion of Long-Term Debt 34 33 Long-Term Operating Leases Other Liabilities 676 584 Finance Leases Long-Term Debt 149 182 Total $ 1,184 $ 1,095 (1) Finance lease assets are recorded net of accumulated amortization of $190 million and $157 million at December 31, 2023 and 2022, respectively. 2023 2022 Weighted Average Remaining Lease Term (in years): Operating Leases 5.3 4.9 Finance Leases 5.5 6.5 Weighted Average Discount Rate: Operating Leases 4.3 % 3.4 % Finance Leases 2.6 % 2.6 % Cash paid for leases for the years ended December 31, 2023, 2022 and 2021 was as follows (in millions): 2023 2022 2021 Repayment of Operating Lease Liabilities Associated with Operating Activities $ 226 $ 199 $ 207 Repayment of Operating Lease Liabilities Associated with Investing Activities 172 95 98 Repayment of Finance Lease Liabilities 32 35 37 Non-cash leasing activities for the year ended December 31, 2023, included the additions of $727 million of operating leases and no finance leases. Non-cash leasing activities for the year ended December 31, 2022, included the additions of $511 million of operating leases and no finance leases. Non-cash leasing activities for the year ended December 31, 2021, included the additions of $333 million of operating leases and $74 million of finance leases. At December 31, 2023, the future minimum lease payments under non-cancellable leases were as follows (in millions): Operating Leases Finance Leases 2024 $ 363 $ 37 2025 213 35 2026 129 30 2027 100 30 2028 99 30 2029 and beyond 222 35 Total Lease Payments 1,126 197 Less: Discount to Present Value 125 14 Total Lease Liabilities 1,001 183 Less: Current Portion of Lease Liabilities 325 34 Long-Term Lease Liabilities $ 676 $ 149 At December 31, 2023, EOG had additional minimum lease payments of $350 million, which are expected to commence beginning in 2024 with lease terms of two
Leases	Leases Lease costs are classified by the function of the ROU asset. The lease costs related to exploration and development activities are initially included in the Oil and Gas Properties line on the Consolidated Balance Sheets and subsequently accounted for in accordance with the Extractive Industries - Oil and Gas Topic of the ASC. Variable lease cost represents costs incurred above the contractual minimum payments and other charges associated with leased equipment, primarily for drilling and fracturing contracts classified as operating leases. The components of lease cost for the years ended December 31, 2023, 2022 and 2021 were as follows (in millions): 2023 2022 2021 Operating Lease Cost $ 387 $ 282 $ 295 Finance Lease Cost: Amortization of Lease Assets 33 36 39 Interest on Lease Liabilities 5 6 7 Variable Lease Cost 91 71 63 Short-Term Lease Cost 567 425 257 Total Lease Cost $ 1,083 $ 820 $ 661 The following table sets forth the amounts and classification of EOG's outstanding ROU assets and related lease liabilities at December 31, 2023 and 2022 and supplemental information for the years ended December 31, 2023 and 2022 (in millions, except lease terms and discount rates): Description Location on Balance Sheet 2023 2022 Assets Operating Leases Other Assets $ 974 $ 846 Finance Leases Property, Plant and Equipment, Net (1) 170 203 Total $ 1,144 $ 1,049 Liabilities Current Operating Leases Current Portion of Operating Lease Liabilities $ 325 $ 296 Finance Leases Current Portion of Long-Term Debt 34 33 Long-Term Operating Leases Other Liabilities 676 584 Finance Leases Long-Term Debt 149 182 Total $ 1,184 $ 1,095 (1) Finance lease assets are recorded net of accumulated amortization of $190 million and $157 million at December 31, 2023 and 2022, respectively. 2023 2022 Weighted Average Remaining Lease Term (in years): Operating Leases 5.3 4.9 Finance Leases 5.5 6.5 Weighted Average Discount Rate: Operating Leases 4.3 % 3.4 % Finance Leases 2.6 % 2.6 % Cash paid for leases for the years ended December 31, 2023, 2022 and 2021 was as follows (in millions): 2023 2022 2021 Repayment of Operating Lease Liabilities Associated with Operating Activities $ 226 $ 199 $ 207 Repayment of Operating Lease Liabilities Associated with Investing Activities 172 95 98 Repayment of Finance Lease Liabilities 32 35 37 Non-cash leasing activities for the year ended December 31, 2023, included the additions of $727 million of operating leases and no finance leases. Non-cash leasing activities for the year ended December 31, 2022, included the additions of $511 million of operating leases and no finance leases. Non-cash leasing activities for the year ended December 31, 2021, included the additions of $333 million of operating leases and $74 million of finance leases. At December 31, 2023, the future minimum lease payments under non-cancellable leases were as follows (in millions): Operating Leases Finance Leases 2024 $ 363 $ 37 2025 213 35 2026 129 30 2027 100 30 2028 99 30 2029 and beyond 222 35 Total Lease Payments 1,126 197 Less: Discount to Present Value 125 14 Total Lease Liabilities 1,001 183 Less: Current Portion of Lease Liabilities 325 34 Long-Term Lease Liabilities $ 676 $ 149 At December 31, 2023, EOG had additional minimum lease payments of $350 million, which are expected to commence beginning in 2024 with lease terms of two

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income	$ 7,594	$ 7,759	$ 4,664

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation. The consolidated financial statements of EOG include the accounts of all domestic and foreign subsidiaries. Any investments in unconsolidated affiliates, in which EOG is able to exercise significant influence, are accounted for using the equity method. All intercompany accounts and transactions have been eliminated. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Financial Instruments	Financial Instruments. EOG's financial instruments consist of cash and cash equivalents, financial commodity derivative contracts, accounts receivable, accounts payable and current and long-term debt. The carrying values of cash and cash equivalents, financial commodity derivative contracts, accounts receivable and accounts payable approximate fair value. See Notes 2, 12 and 13.
Cash and Cash Equivalents	Cash and Cash Equivalents. EOG records as cash equivalents all highly liquid short-term investments with original maturities of three months or less.
Oil and Gas Operations	Oil and Gas Operations. EOG accounts for its crude oil and natural gas exploration and production activities under the successful efforts method of accounting. Oil and gas lease acquisition costs are capitalized when incurred. Unproved properties with acquisition costs that are not individually significant are aggregated, and the portion of such costs estimated to be nonproductive is amortized over the remaining lease term. Unproved properties with individually significant acquisition costs are reviewed individually for impairment. If the unproved properties are determined to be productive, the appropriate related costs are transferred to proved oil and gas properties. Lease rentals are expensed as incurred. Oil and gas exploration costs, other than the costs of drilling exploratory wells, are expensed as incurred. The costs of drilling exploratory wells are capitalized pending determination of whether EOG has discovered commercial quantities of proved reserves. If commercial quantities of proved reserves are not discovered, such drilling costs are expensed. In some circumstances, it may be uncertain whether commercial quantities of proved reserves have been discovered when drilling has been completed. Such exploratory well drilling costs may continue to be capitalized if the estimated reserve quantity is sufficient to justify its completion as a producing well and sufficient progress in assessing the reserves and the economic and operating viability of the project is being made (see Note 16). Costs to develop proved reserves, including the costs of all development wells and related equipment used in the production of crude oil and natural gas, are capitalized. Depreciation, depletion and amortization of the cost of proved oil and gas properties is calculated using the unit-of-production method. The reserve base used to calculate depreciation, depletion and amortization for leasehold acquisition costs and the cost to acquire proved properties is the sum of proved developed reserves and proved undeveloped reserves. With respect to lease and well equipment costs, which include development costs and successful exploration drilling costs, the reserve base includes only proved developed reserves. Estimated future dismantlement, restoration and abandonment costs, net of salvage values, are taken into account. Oil and gas properties are grouped in accordance with the provisions of the Extractive Industries - Oil and Gas Topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC). The basis for grouping is a reasonable aggregation of properties with a common geological structural feature or stratigraphic condition, such as a reservoir or field. Amortization rates are updated quarterly to reflect: 1) the addition of capital expenditures, 2) reserve revisions (upwards or downwards) and additions, 3) property acquisitions and/or property dispositions and 4) impairments. When circumstances indicate that proved oil and gas properties may be impaired, EOG compares expected undiscounted future cash flows at a depreciation, depletion and amortization group level to the unamortized capitalized cost of the group. If the expected undiscounted future cash flows, based on EOG's estimate of (and assumptions regarding) future crude oil, NGLs and natural gas prices, operating costs, development expenditures, anticipated production from proved reserves and other relevant data, are lower than the unamortized capitalized cost, the capitalized cost is reduced to fair value. Fair value is generally calculated using the Income Approach described in the Fair Value Measurement Topic of the ASC. In certain instances, EOG utilizes accepted offers from third-party purchasers as the basis for determining fair value.
Other Property, Plant and Equipment	Other Property, Plant and Equipment . Other property, plant and equipment consists of gathering and processing assets, compressors, carbon capture and storage assets, buildings and leasehold improvements, computer hardware and software, vehicles, and furniture and fixtures. Other property, plant and equipment is generally depreciated on a straight-line basis over the estimated useful lives of the property, plant and equipment, which range from 3 years to 45 years.
Inventories	Inventories. Inventories consist primarily of tubular goods, materials for completion operations, well equipment and gathering lines held for use in the exploration for, and development and production of, crude oil, NGLs and natural gas reserves. EOG accounts for inventories at the lower of cost and net realizable value with adjustments made, as appropriate, to recognize any reductions in value.
Revenue Recognition	Revenue Recognition. EOG presents disaggregated revenues by type of commodity within its Consolidated Statements of Income and Comprehensive Income and by geographic areas defined as operating segments. See Note 11. Revenues are recognized for the sale of crude oil and condensate, NGLs and natural gas at the point control of the product is transferred to the customer, typically when production is delivered and title or risk of loss transfers to the customer. Arrangements for such sales are evidenced by signed contracts with prices typically based on stated market indices, with certain adjustments for product quality and geographic location. As EOG typically invoices customers shortly after performance obligations have been fulfilled, contract assets and contract liabilities are not recognized. The balances of accounts receivable from contracts with customers as of December 31, 2023 and 2022, were $2,237 million and $2,340 million, respectively, and are included in Accounts Receivable, Net on the Consolidated Balance Sheets. Losses incurred on receivables from contracts with customers are infrequent and have been immaterial. Certain arrangements provide for the sale of fixed quantities of commodities in future years with pricing mechanisms based on future market prices of the commodity at time of delivery. EOG does not disclose the value of these obligations given the uncertainty of the future realized transaction price. Crude Oil and Condensate. EOG sells its crude oil and condensate production at the wellhead or further downstream at a contractually-specified delivery point. Revenue is recognized when control transfers to the customer based on contract terms which reflect prevailing market prices. Any costs incurred prior to the transfer of control, such as gathering and transportation, are recognized as Operating Expenses. Natural Gas Liquids. EOG delivers certain of its natural gas production to either EOG-owned processing facilities or third-party processing facilities, where extraction of NGLs occurs. For EOG-owned facilities, revenue is recognized after processing upon transfer of NGLs to a customer. For third-party facilities, extracted NGLs are sold to the owner of the processing facility at the tailgate, or EOG takes possession and sells the extracted NGLs at the tailgate or exercises its option to sell further downstream to various customers. Under typical arrangements for third-party facilities, revenue is recognized after processing upon the transfer of control of the NGLs, either at the tailgate of the processing plant or further downstream. EOG recognizes revenues based on contract terms which reflect prevailing market prices, with any costs prior to the transfer of control, such as processing, transportation and fractionation fees, recognized as Transportation Costs and Gathering and Processing Costs, as appropriate. Natural Gas. EOG sells its natural gas production either at the wellhead or further downstream at a contractually-specified delivery point. In connection with the extraction of NGLs, EOG sells residue gas under separate agreements. Typically, EOG takes possession of the natural gas at the tailgate of the processing facility and sells it at the tailgate or further downstream. In each case, EOG recognizes revenues when control transfers to the customer, based on contract terms which reflect prevailing market prices. Gathering, Processing and Marketing. Gathering, processing and marketing revenues represent sales of third-party crude oil and condensate, NGLs and natural gas, as well as fees associated with gathering and processing third-party natural gas and revenues from sales of EOG-owned sand. EOG evaluates whether it is the principal or agent under these transactions. As control of the underlying commodity is transferred to EOG prior to the gathering, processing and marketing activities, EOG considers itself the principal of these arrangements. Accordingly, EOG recognizes these transactions on a gross basis. Purchases of third-party commodities are recorded as Marketing Costs, with sales of third-party commodities and fees received for gathering and processing recorded as Gathering, Processing and Marketing revenues.
Capitalized Interest Costs	Capitalized Interest Costs.
Accounting for Risk Management Activities	Accounting for Risk Management Activities. Financial commodity derivative instruments are recorded on the balance sheet as either an asset or liability measured at fair value, and changes in the instrument's fair value are recognized currently in earnings unless specific hedge accounting criteria are met. During the three-year period ended December 31, 2023, EOG elected not to designate any of its financial commodity derivative instruments as accounting hedges and, accordingly, changes in the fair value of these outstanding derivative instruments are recognized as gains or losses in the period of change. The gains or losses are recorded as Gains (Losses) on Mark-to-Market Financial Commodity Derivative Contracts on the Consolidated Statements of Income and Comprehensive Income. The related cash flow impact of settled contracts is reflected as cash flows from operating activities. EOG employs net presentation of financial commodity derivative assets and liabilities for financial reporting purposes when such assets and liabilities are with the same counterparty and subject to a master netting arrangement. See Note 12.
Income Taxes	Income Taxes. Income taxes are accounted for using the asset and liability approach. Under this approach, deferred tax assets and liabilities are recognized based on anticipated future tax consequences attributable to differences between financial statement carrying amounts of assets and liabilities and their respective tax basis. EOG assesses the realizability of deferred tax assets and recognizes valuation allowances as appropriate. See Note 6. Effective January 1, 2021, EOG adopted the provisions of ASU 2019-12, "Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes" (ASU 2019-12). There was no impact upon adoption of ASU 2019-12 to EOG's consolidated financial statements or related disclosures.
Foreign Currency Translation	Foreign Currency Translation. The United States dollar is the functional currency for all of EOG's consolidated subsidiaries except for its Canadian subsidiaries, for which the functional currency is the Canadian dollar. For subsidiaries whose functional currency is deemed to be other than the United States dollar, asset and liability accounts are translated at year-end exchange rates and revenues and expenses are translated at average exchange rates prevailing during the year. Translation adjustments are included in Accumulated Other Comprehensive Loss on the Consolidated Balance Sheets. Any gains or losses on transactions or monetary assets or liabilities in currencies other than the functional currency are included in net income in the current period. See Note 4.
Net Income Per Share	Net Income Per Share. Basic net income per share is computed on the basis of the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed based upon the weighted-average number of common shares outstanding during the period plus the assumed issuance of common shares for all potentially dilutive securities. See Note 9.
Stock-Based Compensation	Stock-Based Compensation . EOG measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. See Note 7.
Leases	Leases. In the ordinary course of business, EOG enters into contracts for drilling, fracturing, compression, real estate and other services which contain equipment and other assets and that meet the definition of a lease under ASC "Leases (Topic 842)." The lease term for these contracts, which includes any renewals at EOG's option that are reasonably certain to be exercised, ranges from one month to 30 years. Right of Use (ROU) assets and related liabilities are recognized on the commencement date on the Consolidated Balance Sheets based on future lease payments, discounted based on the rate implicit in the contract, if readily determinable, or EOG's incremental borrowing rate commensurate with the lease term of the contract. EOG estimates its incremental borrowing rate based on the approximate rate required to borrow on a collateralized basis. Contracts with lease terms of less than 12 months are not recorded on the Consolidated Balance Sheets, but instead are disclosed as short-term lease cost. EOG has elected not to separate non-lease components for most asset classes, except for those asset classes where the non-lease (i.e. service) components comprise a material amount of the minimum lease payments. See Note 18.
Recently Issued Accounting Standards	Recently Issued Accounting Standards. In October 2023, the FASB issued ASU 2023-06, "Disclosure Improvements." The ASU incorporates several disclosure and presentation requirements currently residing in SEC Regulations S-X and S-K. The amendments will be applied prospectively and are effective when the SEC removes the related requirements from Regulations S-X or S-K. Any amendments the SEC does not remove by June 30, 2027, will not be effective. As EOG is currently subject to these SEC requirements, this ASU is not expected to have a material impact on our consolidated financial statements or related disclosures. In November 2023, the FASB issued ASU 2023-07 "Segment Reporting (Topic 820)," which updates reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition, the amendment prescribes interim disclosure requirements, clarifies circumstances in which an entity can disclose multiple segment measures of profit or loss, provides new segment disclosure requirements for entities with a single reportable segment, and contains other disclosure requirements. The ASU is effective for public companies with annual periods beginning after December 15, 2023, and interim periods within annual periods beginning after December 15, 2024, with early adoption permitted. EOG is currently evaluating the impact of the standard on our segment reporting disclosures. In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" (ASU 2023-09). ASU 2023-09 requires companies to disclose, on an annual basis, specific categories in the effective tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. In addition, ASU 2023-09 requires companies to disclose additional information about income taxes paid. ASU 2023-09 will be effective for annual periods beginning after December 15, 2024, and although permitted, EOG does not intend to early adopt. EOG is continuing to evaluate the provisions of ASU 2023-09 and does not anticipate a material impact on its consolidated financial statements and related disclosures upon adoption.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
Long-Term Debt (Tables)	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-Term Debt at December 31, 2023 and 2022 consisted of the following (in millions): 2023 2022 2.625% Senior Notes due 2023 $ — $ 1,250 3.15% Senior Notes due 2025 500 500 4.15% Senior Notes due 2026 750 750 6.65% Senior Notes due 2028 140 140 4.375% Senior Notes due 2030 750 750 3.90% Senior Notes due 2035 500 500 5.10% Senior Notes due 2036 250 250 4.950% Senior Notes due 2050 750 750 Long-Term Debt 3,640 4,890 Finance Leases (see Note 18) 183 215 Less: Current Portion of Long-Term Debt 34 1,283 Unamortized Debt Discount 21 23 Debt Issuance Costs 3 4 Total Long-Term Debt $ 3,765 $ 3,795

Stockholder's Equity (Tables)

Stockholder's Equity (Tables)	12 Months Ended
Stockholder's Equity (Tables)	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Schedule of Common Stock Activity	The following summarizes Common Stock activity for each of the years ended December 31, 2023, 2022 and 2021 (in thousands): Common Shares Issued Treasury Outstanding Balance at December 31, 2020 583,695 (124) 583,571 Common Stock Issued Under Stock-Based Compensation Plans 1,511 — 1,511 Treasury Stock Purchased (1) — (504) (504) Common Stock Issued Under Employee Stock Purchase Plan 316 — 316 Treasury Stock Issued Under Stock-Based Compensation Plans — 371 371 Balance at December 31, 2021 585,522 (257) 585,265 Common Stock Issued Under Stock-Based Compensation Plans 2,674 — 2,674 Treasury Stock Purchased (1) — (997) (997) Common Stock Issued Under Employee Stock Purchase Plan 201 — 201 Treasury Stock Issued Under Stock-Based Compensation Plans — 554 554 Balance at December 31, 2022 588,397 (700) 587,697 Common Stock Issued Under Stock-Based Compensation Plans 159 — 159 Treasury Stock Purchased (2) — (9,177) (9,177) Common Stock Issued Under Employee Stock Purchase Plan 193 — 193 Treasury Stock Issued Under Stock-Based Compensation Plans — 1,989 1,989 Balance at December 31, 2023 588,749 (7,888) 580,861 (1) Represents shares that were withheld by or returned to EOG (i) in satisfaction of tax withholding obligations that arose upon the exercise of employee stock options or SARs or the vesting of restricted stock, restricted stock unit or performance unit grants or (ii) in payment of the exercise price of employee stock options. (2) Represents shares that were repurchased under the November 2021 Authorization and/or that were withheld by or returned to EOG (i) in satisfaction of tax withholding obligations that arose upon the exercise of employee stock options or SARs or the vesting of restricted stock, restricted stock unit or performance unit grants or (ii) in payment of the exercise price of employee stock options.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive (Loss) (Tables)	12 Months Ended
Accumulated Other Comprehensive (Loss) (Tables)	Dec. 31, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of Accumulated Other Comprehensive Loss at December 31, 2023 and 2022 consisted of the following (in millions): Foreign Currency Translation Adjustment Other Total December 31, 2021 $ (11) $ (1) $ (12) Other comprehensive income before taxes 4 — 4 Tax effects — — — Other comprehensive income 4 — 4 December 31, 2022 (7) (1) (8) Other comprehensive loss before taxes (1) — (1) Tax effects — — — Other comprehensive loss (1) — (1) December 31, 2023 $ (8) $ (1) $ (9)

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Deferred Income Tax Assets (Liabilities), Net	The principal components of EOG's total net deferred income tax liabilities at December 31, 2023 and 2022 were as follows (in millions): 2023 2022 Deferred Income Tax Assets (Liabilities) Foreign Oil and Gas Exploration and Development Costs Deducted for Tax Under Book Depreciation, Depletion and Amortization $ (26) $ (18) Foreign Asset Retirement Obligations 84 81 Foreign Accrued Expenses and Liabilities 12 13 Foreign Net Operating Loss 97 82 Foreign Valuation Allowances (126) (116) Foreign Other 1 (9) Total Net Deferred Income Tax Assets $ 42 $ 33 Deferred Income Tax (Assets) Liabilities Oil and Gas Exploration and Development Costs Deducted for Tax Over Book Depreciation, Depletion and Amortization $ 5,778 $ 5,291 Financial Commodity Derivative Contracts — (421) Deferred Compensation Plans (61) (58) Equity Awards (59) (60) Corporate Alternative Minimum Tax (212) — Other (44) (42) Total Net Deferred Income Tax Liabilities $ 5,402 $ 4,710 Total Net Deferred Income Tax Liabilities $ 5,360 $ 4,677
Schedule of Components of Income (Loss) Before Income Taxes	The components of Income Before Income Taxes for the years indicated below were as follows (in millions): 2023 2022 2021 United States $ 9,576 $ 9,752 $ 5,787 Foreign 113 149 146 Total $ 9,689 $ 9,901 $ 5,933
Schedule of Components of Income Tax Provision (Benefit)	The principal components of EOG's Income Tax Provision (Benefit) for the years indicated below were as follows (in millions): 2023 2022 2021 Current: Federal $ 1,334 $ 2,020 $ 1,203 State 76 126 85 Foreign 5 62 105 Total 1,415 2,208 1,393 Deferred: Federal 628 (2) (41) State 55 (37) (62) Foreign — (22) (19) Total 683 (61) (122) Other Non-Current: Foreign (3) (5) (2) Total (3) (5) (2) Income Tax Provision $ 2,095 $ 2,142 $ 1,269
Schedule of Tax Rate Reconciliation	The differences between taxes computed at the U.S. federal statutory tax rate and EOG's effective rate for the years indicated below were as follows: 2023 2022 2021 Statutory Federal Income Tax Rate 21.0 % 21.0 % 21.0 % State Income Tax, Net of Federal Benefit 1.0 0.7 0.3 Income Tax Provision Related to Foreign Operations (0.2) — 0.9 Stock-Based Compensation — — 0.2 Other (0.2) — (1.0) Effective Income Tax Rate 21.6 % 21.7 % 21.4 %
Schedule of Valuation Allowance	The principal components of EOG's rollforward of valuation allowances for deferred income tax assets for the years indicated below were as follows (in millions): 2023 2022 2021 Beginning Balance $ 207 $ 219 $ 219 Increase (1) 8 27 15 Decrease (2) — (33) (14) Other (3) 1 (6) (1) Ending Balance $ 216 $ 207 $ 219 (1) Increase in valuation allowance related to the generation of tax NOLs and other deferred tax assets. (2) Decrease in valuation allowance associated with adjustments to certain deferred tax assets and their related allowances.

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
Employee Benefit Plans (Tables)	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	Stock-based compensation expense is included on the Consolidated Statements of Income and Comprehensive Income based upon the job functions of the employees receiving the grants. Compensation expense related to EOG's stock-based compensation plans for the years ended December 31, 2023, 2022 and 2021 was as follows (in millions): 2023 2022 2021 Lease and Well $ 54 $ 40 $ 49 Gathering and Processing Costs 4 4 3 Exploration Costs 24 15 20 General and Administrative 95 74 80 Total $ 177 $ 133 $ 152
Schedule of Vesting	The vesting schedules for grants of stock options, SARs, restricted stock and restricted stock units, and Performance Units are generally as follows: Grant Type Vesting Schedule Stock Options/SARs Vesting in increments of one-third on each of the first three anniversaries, respectively, of the date of grant Restricted Stock/Restricted Stock Units "Cliff" vesting three years from the date of grant Performance Units "Cliff" vesting on the February 28th following the three
Schedule of Weighted Average Fair Values and Valuation Assumptions	Weighted average fair values and valuation assumptions used to value stock option, SAR and ESPP grants for the years ended December 31, 2023, 2022 and 2021 were as follows: Stock Options/SARs ESPP 2022 2021 2023 2022 2021 Weighted Average Fair Value of Grants $ 28.30 $ 24.92 $ 29.35 $ 26.62 $ 18.12 Expected Volatility 42.20 % 42.24 % 38.01 % 43.00 % 51.27 % Risk-Free Interest Rate 0.89 % 0.50 % 5.02 % 1.30 % 0.07 % Dividend Yield 3.28 % 2.26 % 2.68 % 2.89 % 2.89 % Expected Life 5.3 years 5.2 years 0.5 years 0.5 years 0.5 years
Schedule of Share Based Compensation Arrangement By Share Based Payment Award	The following table sets forth the stock option and SAR transactions for the years ended December 31, 2023, 2022 and 2021 (stock options and SARs in thousands): 2023 2022 2021 Number Weighted Number Weighted Number Weighted Outstanding at January 1 4,225 $ 77.49 9,969 $ 84.37 10,186 $ 84.08 Granted — — 2 97.64 1,982 81.68 Exercised (1) (1,294) 73.01 (5,526) 89.70 (1,130) 63.98 Forfeited (88) 87.74 (220) 82.74 (1,069) 98.15 Outstanding at December 31 2,843 79.22 4,225 77.49 9,969 84.37 Stock Options/SARs Exercisable at December 31 2,282 78.60 2,462 84.53 6,197 95.33 (1) The total intrinsic value of stock options/SARs exercised during the years 2023, 2022 and 2021 was $70 million, $190 million and $27 million, respectively. The intrinsic value is based upon the difference between the market price of the Common Stock on the date of exercise and the grant price of the stock options/SARs.
Schedule of Stock Options and SARs Outstanding and Exercisable	The following table summarizes certain information for the stock options and SARs outstanding and exercisable at December 31, 2023 (stock options and SARs in thousands): Stock Options/SARs Outstanding Stock Options/SARs Exercisable Range of Stock Weighted Weighted Aggregate Intrinsic Value (1) Stock Weighted Weighted Aggregate Intrinsic Value (1) $ 34.00 to $ 52.99 634 3 $ 37.49 633 3 $ 37.46 53.00 to 80.99 380 3 74.99 376 3 75.03 81.00 to 81.99 1,140 5 81.81 588 4 81.81 82.00 to 96.99 246 1 95.97 242 1 96.09 97.00 to 129.99 443 2 126.57 443 2 126.58 2,843 3 79.22 $ 121 2,282 3 78.60 $ 99 (1) Based upon the difference between the closing market price of the Common Stock on the last trading day of the year and the grant price of in-the-money stock options and SARs, in millions.
Schedule of ESPP Activity	The following table summarizes ESPP activity for the years ended December 31, 2023, 2022 and 2021 (in thousands, except number of participants): 2023 2022 2021 Approximate Number of Participants 2,015 1,969 2,036 Shares Purchased 193 201 316 Aggregate Purchase Price $ 18,759 $ 17,250 $ 17,224
Schedule of Restricted Stock and Restricted Stock Unit Transactions	The following table sets forth the restricted stock and restricted stock unit transactions for the years ended December 31, 2023, 2022 and 2021 (shares and units in thousands): 2023 2022 2021 Number of Shares and Units Weighted Average Grant Date Fair Value Number of Shares and Units Weighted Average Grant Date Fair Value Number of Shares and Units Weighted Average Grant Date Fair Value Outstanding at January 1 4,113 $ 80.77 4,680 $ 69.37 4,742 $ 74.97 Granted 1,680 131.10 1,637 113.21 1,422 81.50 Released (1) (1,295) 42.03 (2,019) 81.76 (1,388) 101.00 Forfeited (134) 93.54 (185) 68.89 (96) 68.26 Outstanding at December 31 (2) 4,364 111.24 4,113 80.77 4,680 69.37 (1) (1) The total intrinsic value of restricted stock and restricted stock units released during the years ended December 31, 2023, 2022 and 2021 was $166 million, $223 million and $110 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date restricted stock and restricted stock units are released. (2) (2) The total intrinsic value of restricted stock and restricted stock units outstanding at December 31, 2023, 2022 and 2021 was $528 million, $533 million and $416 million, respectively. The intrinsic value is based on the closing market price of the Common Stock on the last trading day of the year.
Schedule of Weighted Average Fair Values and Valuation Assumptions for Performance Units/Stocks	Weighted average fair values and valuation assumptions used to value Performance Units during the years ended December 31, 2023, 2022 and 2021 were as follows: 2023 2022 2021 Weighted Average Fair Value of Grants $ 142.20 $ 126.55 $ 95.16 Expected Volatility 44.76 % 56.11 % 53.80 % Risk-Free Interest Rate 4.53 % 4.01 % 0.59 %
Schedule of Performance Unit and Performance Stock Transactions	The following table sets forth the Performance Unit transactions for the years ended December 31, 2023, 2022 and 2021 (units in thousands): 2023 2022 2021 Number of Units Weighted Average Grant Date Fair Value Number of Units Weighted Average Grant Date Fair Value Number of Units Weighted Average Grant Date Fair Value Outstanding at January 1 688 $ 83.82 679 $ 84.97 613 $ 88.38 Granted 114 142.20 122 126.55 222 95.16 Granted for Performance Multiple (1) — — — — 19 113.81 Released (2) (86) 79.98 (57) 136.74 (175) 113.06 Forfeited for Performance Multiple (3) (86) 79.98 (56) 136.74 — — Outstanding at December 31 (4) 630 (5) 95.49 688 83.82 679 84.97 (1) Upon completion of the performance period for the Performance Units granted in 2017, a performance multiple of 125% was applied to the grants resulting in additional grants of Performance Units in February 2021. (2) The total intrinsic value of Performance Units released during the years ended December 31, 2023, 2022 and 2021 was $10 million, $7 million and $13 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date Performance Units are released. (3) Upon completion of the performance period for the Performance Units granted in 2019 and 2018, a performance multiple of 50% was applied to each of the grants resulting in a forfeiture of Performance Units in both February 2023 and February 2022. (4) The total intrinsic value of Performance Units outstanding at December 31, 2023, 2022 and 2021 was $76 million, $89 million and $60 million, respectively. The intrinsic value is based on the closing market price of the Common Stock on the last trading day of the year. (5)

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
Commitments and Contingencies (Tables)	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Minimum Commitments for Unrecorded Unconditional Purchase Obligations	At December 31, 2023, total minimum commitments from purchase and service obligations and transportation and storage service commitments not qualifying as leases, based on current transportation and storage rates and the foreign currency exchange rates used to convert Canadian dollars into United States dollars at December 31, 2023, were as follows (in millions): Total Minimum 2024 $ 1,751 2025 1,201 2026 983 2027 829 2028 545 2029 and beyond 1,375 $ 6,684

Net Income Per Share (Tables)

Net Income Per Share (Tables)	12 Months Ended
Net Income Per Share (Tables)	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of Computation of Net Income Per Share	The following table sets forth the computation of Net Income Per Share for the years ended December 31, 2023, 2022 and 2021 (in millions, except per share data): 2023 2022 2021 Numerator for Basic and Diluted Earnings per Share - Net Income $ 7,594 $ 7,759 $ 4,664 Denominator for Basic Earnings per Share - Weighted Average Shares 581 583 581 Potential Dilutive Common Shares - Stock Options/SARs 1 2 — Restricted Stock/Units and Performance Units 2 2 3 Denominator for Diluted Earnings per Share - Adjusted Diluted Weighted Average Shares 584 587 584 Net Income Per Share Basic $ 13.07 $ 13.31 $ 8.03 Diluted $ 13.00 $ 13.22 $ 7.99

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	12 Months Ended
Supplemental Cash Flow Information (Tables)	Dec. 31, 2023
Supplemental Cash Flow Information [Abstract]
Schedule of Net Cash Paid For Interest and Income Taxes	Net cash paid for interest and income taxes was as follows for the years ended December 31, 2023, 2022 and 2021 (in millions): 2023 2022 2021 Interest, Net of Capitalized Interest $ 161 $ 173 $ 185 Income Taxes, Net of Refunds Received $ 1,229 $ 2,475 $ 1,114

Business Segment Information (T

Business Segment Information (Tables)	12 Months Ended
Business Segment Information (Tables)	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of Selected Financial Information by Reportable Segment	Financial information by reportable segment is presented below as of and for the years ended December 31, 2023, 2022 and 2021 (in millions): United Trinidad Other International (1) Total 2023 Crude Oil and Condensate $ 13,734 $ 14 $ — $ 13,748 Natural Gas Liquids 1,884 — — 1,884 Natural Gas 1,530 214 — 1,744 Gains on Mark-to-Market Financial Commodity Derivative Contracts, Net 818 — — 818 Gathering, Processing and Marketing 5,806 — — 5,806 Gains on Asset Dispositions, Net 53 42 — 95 Other, Net 91 — — 91 Operating Revenues and Other (2) 23,916 270 — 24,186 Depreciation, Depletion and Amortization 3,414 78 — 3,492 Operating Income (Loss) (3) 9,516 124 (37) 9,603 Interest Income 223 12 5 240 Other Income (Expense) (6) 1 (1) (6) Interest Expense, Net 148 — — 148 Income (Loss) Before Income Taxes 9,585 137 (33) 9,689 Income Tax Provision 2,093 2 — 2,095 Additions to Oil and Gas Properties, Excluding Dry Hole Costs 5,413 162 4 5,579 Total Property, Plant and Equipment, Net 31,876 404 17 32,297 Total Assets 42,674 1,063 120 43,857 2022 Crude Oil and Condensate $ 16,349 $ 18 $ — $ 16,367 Natural Gas Liquids 2,648 — — 2,648 Natural Gas 3,489 292 — 3,781 Losses on Mark-to-Market Financial Commodity Derivative Contracts, Net (3,982) — — (3,982) Gathering, Processing and Marketing 6,695 1 — 6,696 Gains (Losses) on Asset Dispositions, Net 77 (4) 1 74 Other, Net 118 — — 118 Operating Revenues and Other (4) 25,394 307 1 25,702 Depreciation, Depletion and Amortization 3,469 73 — 3,542 Operating Income (Loss) (5) 9,880 122 (36) 9,966 Interest Income 81 2 2 85 Other Income (Expense) (17) 46 — 29 Interest Expense, Net 179 — — 179 Income (Loss) Before Income Taxes 9,765 170 (34) 9,901 Income Tax Provision 2,106 35 1 2,142 Additions to Oil and Gas Properties, Excluding Dry Hole Costs 4,599 122 6 4,727 Total Property, Plant and Equipment, Net 29,109 307 13 29,429 Total Assets 40,349 879 143 41,371 United Trinidad Other International (1) Total 2021 Crude Oil and Condensate $ 11,094 $ 31 $ — $ 11,125 Natural Gas Liquids 1,812 — — 1,812 Natural Gas 2,156 270 18 2,444 Losses on Mark-to-Market Financial Commodity Derivative Contracts, Net (1,152) — — (1,152) Gathering, Processing and Marketing 4,287 1 — 4,288 Gains (Losses) on Asset Dispositions, Net (40) (2) 59 17 Other, Net 108 — — 108 Operating Revenues and Other (6) 18,265 300 77 18,642 Depreciation, Depletion and Amortization 3,558 87 6 3,651 Operating Income (Loss) (7) 6,013 151 (62) 6,102 Interest Income 3 — — 3 Other Income (Expense) (14) 8 12 6 Interest Expense, Net 178 — — 178 Income (Loss) Before Income Taxes 5,824 159 (50) 5,933 Income Tax Provision (Benefit) 1,247 66 (44) 1,269 Additions to Oil and Gas Properties, Excluding Dry Hole Costs 3,557 55 5 3,617 Total Property, Plant and Equipment, Net 28,213 204 9 28,426 Total Assets 37,436 637 163 38,236 (1) Other International primarily consists of EOG's China and Canada operations. The China operations were sold in the second quarter of 2021. EOG is continuing the process of exiting its Canada operations. EOG began exploration programs in Australia in the third quarter of 2021 and in Oman in the third quarter of 2020. The decision was reached in the fourth quarter of 2021 to exit Block 36 and Block 49 in Oman. (2) EOG had sales activity with three significant purchasers in 2023, one totaling $3.3 billion and two others totaling $2.6 billion each of consolidated Operating Revenues and Other in the United States segment. (3) EOG recorded pretax impairment charges of $18 million in 2023 for proved oil and gas properties and firm commitment contracts related to its decision to exit the Horn River Basin in British Columbia, Canada, in the Other International segment. See Note 14. (4) EOG had sales activity with three significant purchasers in 2022, one totaling $3.3 billion, another totaling $3.1 billion and a third totaling $3.0 billion of consolidated Operating Revenues and Other in the United States segment. (5) EOG recorded pretax impairment charges of $15 million in 2022 for proved oil and gas properties and firm commitment contracts related to its decision to exit the Horn River Basin in British Columbia, Canada, in the Other International segment. See Note 14. (6) EOG had sales activity with two significant purchasers in 2021, one totaling $2.7 billion and the other totaling $2.6 billion of consolidated Operating Revenues and Other in the United States segment. (7) EOG recorded pretax impairment charges of $45 million and dry hole costs of $42 million in 2021 in the Other International segment related to its decision in the fourth quarter of 2021 to exit Block 36 and Block 49 in Oman. In addition, EOG recorded net gains of asset dispositions of $58 million in 2021 in the Other International segment during the second quarter of 2021 due to the sale of its China operations. See Notes 14 and 17, respectively.

Risk Management Activities (Tab

Risk Management Activities (Tables)	12 Months Ended
Risk Management Activities (Tables)	Dec. 31, 2023
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, 2023 (closed) and remaining for 2024 and thereafter, as of December 31, 2023. Crude oil 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 Volume (MBbld) Weighted Average January - March 2023 (closed) NYMEX WTI 95 $ 67.90 6 $ 102.26 April - May 2023 (closed) NYMEX WTI 91 67.63 2 98.15 June 2023 (closed) NYMEX WTI 2 69.10 2 98.15 Natural Gas Financial Price Swap Contracts Contracts Sold Period Settlement Index Volume Weighted Average January 2023 - December 2023 (closed) NYMEX Henry Hub 300 $ 3.36 January 2024 (closed) NYMEX Henry Hub 725 3.07 February - December 2024 NYMEX Henry Hub 725 3.07 January - December 2025 NYMEX Henry Hub 725 3.07 Natural Gas Basis Swap Contracts Contracts Sold Period Settlement Index Volume Weighted Average Price Differential January - December 2023 (closed) NYMEX Henry Hub Houston Ship Channel (HSC) Differential (1) 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, 2023 and 2022, 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 2023 2022 Asset Derivatives Crude oil, NGLs and natural gas financial derivative contracts - Current portion Assets from Price Risk Management (1) $ 106 $ — Liability Derivatives Crude oil, NGLs and natural gas financial derivative contracts - Current portion Liabilities from Price Risk Management Activities $ — $ 169 Noncurrent Portion Other Liabilities (2) 103 371 (1) The current portion of Assets from Price Risk Management Activities consists of gross assets of $106 million at December 31, 2023. (2) The noncurrent portion of Liabilities from Price Risk Management Activities consists of gross liabilities of $104 million, partially offset by gross assets of $1 million, at December 31, 2023.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
Fair Value Measurements (Tables)	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis	The following table provides fair value measurement information within the fair value hierarchy for certain of EOG's financial assets and liabilities carried at fair value on a recurring basis at December 31, 2023 and 2022 (in millions): Fair Value Measurements Using: Quoted Significant Significant Total At December 31, 2023 Financial Assets: Natural Gas Swaps $ — $ 105 $ — $ 105 Natural Gas Basis Swaps — 2 — 2 Financial Liabilities: Natural Gas Swaps — 104 — 104 At December 31, 2022 Financial Assets: Natural Gas Basis Swaps $ — $ 29 $ — $ 29 Financial Liabilities: Natural Gas Swaps — 703 — 703 Crude Oil Swaps — 190 — 190

Impairment Expense (Tables)

Impairment Expense (Tables)	12 Months Ended
Impairment Expense (Tables)	Dec. 31, 2023
Impairment Expense [Abstract]
Schedule of Impairment Expenses	Impairment expense was as follows for the years ended December 31, 2023, 2022 and 2021 (in millions): 2023 2022 2021 Proved properties $ 44 $ 120 $ 20 Unproved properties (1) 125 206 310 Other assets 31 29 28 Inventories — 25 13 Firm commitment contracts 2 2 5 Total $ 202 $ 382 $ 376 (1) Unproved properties with acquisition costs that are not individually significant are aggregated, and the portion of such costs estimated to be nonproductive is amortized over the remaining lease term. Unproved properties with individually significant acquisition costs are reviewed individually for impairment. Impairments of unproved oil and gas properties included $38 million in 2021 for the decision in the fourth quarter of 2021 to exit Block 36 and Block 49 in Oman. See Note 1.

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	12 Months Ended
Asset Retirement Obligations (Tables)	Dec. 31, 2023
Asset Retirement Obligations, Noncurrent [Abstract]
Schedule of Asset Retirement Obligation Rollforward Analysis	The following table presents the reconciliation of the beginning and ending aggregate carrying amounts of short-term and long-term legal obligations associated with the retirement of property, plant and equipment for the years ended December 31, 2023 and 2022 (in millions): 2023 2022 Carrying Amount at Beginning of Period $ 1,328 $ 1,231 Liabilities Incurred 71 100 Liabilities Settled (1) (114) (215) Accretion 53 43 Revisions 166 173 Foreign Currency Translations 2 (4) Carrying Amount at End of Period $ 1,506 $ 1,328 Current Portion $ 37 $ 38 Noncurrent Portion $ 1,469 $ 1,290 (1) Includes settlements related to asset sales and property exchanges.

Exploratory Well Costs (Tables)

Exploratory Well Costs (Tables)	12 Months Ended
Exploratory Well Costs (Tables)	Dec. 31, 2023
Capitalized Exploratory Well Costs [Abstract]
Schedule of Net Changes in Capitalized Exploratory Well Costs	EOG's net changes in capitalized exploratory well costs for the years ended December 31, 2023, 2022 and 2021 are presented below (in millions): 2023 2022 2021 Balance at January 1 $ 15 $ 7 $ 29 Additions Pending the Determination of Proved Reserves 195 135 73 Reclassifications to Proved Properties (133) (88) (41) Costs Charged to Expense (1) (1) (39) (54) Balance at December 31 $ 76 $ 15 $ 7 (1) Includes capitalized exploratory well costs charged to either dry hole costs or impairments.
Schedule of Aging of Capitalized Exploratory Well Costs	2023 2022 2021 Capitalized exploratory well costs that have been capitalized for a period of one year or less $ 73 $ 15 $ 7 Capitalized exploratory well costs that have been capitalized for a period greater than one year (1) 3 — — Balance at December 31 $ 76 $ 15 $ 7 Number of exploratory wells that have been capitalized for a period greater than one year 2 — — (1) Consists of costs related to two projects in the United States at December 31, 2023.

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 31, 2023
Leases [Abstract]
Schedule of Lease	The components of lease cost for the years ended December 31, 2023, 2022 and 2021 were as follows (in millions): 2023 2022 2021 Operating Lease Cost $ 387 $ 282 $ 295 Finance Lease Cost: Amortization of Lease Assets 33 36 39 Interest on Lease Liabilities 5 6 7 Variable Lease Cost 91 71 63 Short-Term Lease Cost 567 425 257 Total Lease Cost $ 1,083 $ 820 $ 661
Schedule of Outstanding Lease Assets And Lease Liabilities	The following table sets forth the amounts and classification of EOG's outstanding ROU assets and related lease liabilities at December 31, 2023 and 2022 and supplemental information for the years ended December 31, 2023 and 2022 (in millions, except lease terms and discount rates): Description Location on Balance Sheet 2023 2022 Assets Operating Leases Other Assets $ 974 $ 846 Finance Leases Property, Plant and Equipment, Net (1) 170 203 Total $ 1,144 $ 1,049 Liabilities Current Operating Leases Current Portion of Operating Lease Liabilities $ 325 $ 296 Finance Leases Current Portion of Long-Term Debt 34 33 Long-Term Operating Leases Other Liabilities 676 584 Finance Leases Long-Term Debt 149 182 Total $ 1,184 $ 1,095 (1) Finance lease assets are recorded net of accumulated amortization of $190 million and $157 million at December 31, 2023 and 2022, respectively.
Schedule of Weighted Average Remaining Lease Term And Discount Rate	2023 2022 Weighted Average Remaining Lease Term (in years): Operating Leases 5.3 4.9 Finance Leases 5.5 6.5 Weighted Average Discount Rate: Operating Leases 4.3 % 3.4 % Finance Leases 2.6 % 2.6 %
Schedule of Cash Paid for Leases	Cash paid for leases for the years ended December 31, 2023, 2022 and 2021 was as follows (in millions): 2023 2022 2021 Repayment of Operating Lease Liabilities Associated with Operating Activities $ 226 $ 199 $ 207 Repayment of Operating Lease Liabilities Associated with Investing Activities 172 95 98 Repayment of Finance Lease Liabilities 32 35 37
Schedule of Operating And Finance Non-Cancellable Leases Maturity	At December 31, 2023, the future minimum lease payments under non-cancellable leases were as follows (in millions): Operating Leases Finance Leases 2024 $ 363 $ 37 2025 213 35 2026 129 30 2027 100 30 2028 99 30 2029 and beyond 222 35 Total Lease Payments 1,126 197 Less: Discount to Present Value 125 14 Total Lease Liabilities 1,001 183 Less: Current Portion of Lease Liabilities 325 34 Long-Term Lease Liabilities $ 676 $ 149

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accounts receivable from contracts with customers	$ 2,237	$ 2,340
Minimum
Property, plant and equipment, useful life	3 years
Lease term	1 month
Maximum
Property, plant and equipment, useful life	45 years
Lease term	30 years

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-Term Debt	$ 3,640	$ 4,890
Finance Leases (see Note 18)	183	215
Less: Current Portion of Long-Term Debt	34	1,283
Unamortized Debt Discount	21	23
Debt Issuance Costs	3	4
Total Long-Term Debt	$ 3,765	3,795
2.625% Senior Notes due 2023
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)	2.625%
Long-Term Debt	$ 0	1,250
3.15% Senior Notes due 2025
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)	3.15%
Long-Term Debt	$ 500	500
4.15% Senior Notes due 2026
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)	4.15%
Long-Term Debt	$ 750	750
6.65% Senior Notes due 2028
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)	6.65%
Long-Term Debt	$ 140	140
4.375% Senior Notes due 2030
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)	4.375%
Long-Term Debt	$ 750	750
3.90% Senior Notes due 2035
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)	3.90%
Long-Term Debt	$ 500	500
5.10% Senior Notes due 2036
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)	5.10%
Long-Term Debt	$ 250	250
4.950% Senior Notes due 2050
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)	4.95%
Long-Term Debt	$ 750	$ 750

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details)	12 Months Ended
Long-Term Debt - Narrative (Details)	Dec. 31, 2023 USD ($) Term	Mar. 15, 2023 USD ($)	Feb. 17, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 27, 2019 USD ($)
Long-Term Debt by Maturity [Abstract]
Aggregate annual maturity of long-term debt (excluding capital lease obligations) in 2024	$ 0
Aggregate annual maturity of long-term debt (excluding capital lease obligations) in 2025	500,000,000
Aggregate annual maturity of long-term debt (excluding capital lease obligations) in 2026	750,000,000
Aggregate annual maturity of long-term debt (excluding capital lease obligations) in 2027	0
Aggregate annual maturity of long-term debt (excluding capital lease obligations) in 2028	$ 140,000,000
SOFR
Long-Term Debt by Maturity [Abstract]
Basis spread on debt	0.10%
Revolving Credit Facility \| Revolving Credit Agreement (New Facility)
Long-Term Debt by Maturity [Abstract]
Debt instrument, face amount					$ 2,000,000,000
Maximum borrowing capacity	$ 1,900,000,000		$ 1,900,000,000
Line of credit facility, maturity term extensions \| Term	2
Line of credit facility, extension period	1 year
Commitment threshold	0.50
Line of credit facility increase additional borrowings (not to exceed)	$ 3,000,000,000
Maximum total debt-to-total capitalization ratio allowed under financial covenant (in hundredths)	65%
Revolving Credit Facility \| Revolving Credit Agreement (New Facility) \| Eurodollar
Long-Term Debt by Maturity [Abstract]
Weighted average interest rate (in hundredths)	6.35%
Revolving Credit Facility \| Revolving Credit Agreement (New Facility) \| Base Rate
Long-Term Debt by Maturity [Abstract]
Weighted average interest rate (in hundredths)	8.50%
Commercial Paper
Long-Term Debt by Maturity [Abstract]
Line of credit facility, current borrowing capacity	$ 0			$ 0
Senior Notes \| Senior Notes Due 2021
Long-Term Debt by Maturity [Abstract]
Debt instrument, face amount		$ 1,250,000,000
Debt instrument, interest rate (as a percent)		2.625%

Stockholder's Equity (Details)

Stockholder's Equity (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Feb. 22, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Nov. 04, 2021	Sep. 30, 2001
Common Stock Activity [Line Items]
An aggregate maximum of shares of common stock authorized for repurchase (in shares)						10,000,000
Stock repurchase program, authorized amount					$ 5,000
Stock repurchased during period, shares		8,600,000
Stock repurchased during period, value		$ 971
Stock repurchase program, remaining authorized repurchase amount		4,000
Estimated federal excise taxes		$ 8
Common stock dividends declared (in USD per share)		$ 5.8850	$ 8.8750	$ 4.9875
Series E Preferred stock, shares issued (in shares)		0
Series E Preferred stock, shares outstanding (in shares)		0
Subsequent Event
Common Stock Activity [Line Items]
Common stock dividends declared (in USD per share)	$ 0.91
Series E Preferred Stock
Common Stock Activity [Line Items]
Series E Preferred stock, shares authorized (in shares)		3,000,000

Stockholder's Equity - Schedule

Stockholder's Equity - Schedule of Common Stock Activity (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Common Stock Activity [Roll Forward]
Beginning Balance (in shares)	588,396,757
Treasury Stock Purchased (in shares)	(8,600,000)
Ending Balance (in shares)	588,748,473	588,396,757
Common Shares, Issued
Common Stock Activity [Roll Forward]
Beginning Balance (in shares)	588,397,000	585,522,000	583,695,000
Common Stock Issued Under Stock-Based Compensation Plans (in shares)	159,000	2,674,000	1,511,000
Treasury Stock Purchased (in shares)	0	0	0
Common Stock Issued Under Employee Stock Purchase Plan (in shares)	193,000	201,000	316,000
Treasury Stock Issued Under Stock-Based Compensation Plans (in shares)	0	0	0
Ending Balance (in shares)	588,749,000	588,397,000	585,522,000
Common Stock Held In Treasury
Common Stock Activity [Roll Forward]
Beginning Balance (in shares)	700,000	257,000	124,000
Common Stock Issued Under Stock-Based Compensation Plans (in shares)	0	0	0
Treasury Stock Purchased (in shares)	(9,177,000)	(997,000)	(504,000)
Common Stock Issued Under Employee Stock Purchase Plan (in shares)	0	0	0
Treasury Stock Issued Under Stock-Based Compensation Plans (in shares)	1,989,000	554,000	371,000
Ending Balance (in shares)	7,888,000	700,000	257,000
Common Shares, Outstanding
Common Stock Activity [Roll Forward]
Beginning Balance (in shares)	587,697,000	585,265,000	583,571,000
Common Stock Issued Under Stock-Based Compensation Plans (in shares)	159,000	2,674,000	1,511,000
Treasury Stock Purchased (in shares)	(9,177,000)	(997,000)	(504,000)
Common Stock Issued Under Employee Stock Purchase Plan (in shares)	193,000	201,000	316,000
Treasury Stock Issued Under Stock-Based Compensation Plans (in shares)	1,989,000	554,000	371,000
Ending Balance (in shares)	580,861,000	587,697,000	585,265,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 24,779	$ 22,180	$ 20,302
Other comprehensive income (Loss) before taxes	(1)	4
Tax effects	0	0
Other comprehensive income		4
Other comprehensive (loss) income	(1)	4	0
Ending balance	28,090	24,779	22,180
Significant amount reclassified out of AOCI	0	0
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(7)	(11)
Other comprehensive income (Loss) before taxes	(1)	4
Tax effects	0	0
Other comprehensive income		4
Other comprehensive (loss) income	(1)
Ending balance	(8)	(7)	(11)
Other
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(1)	(1)
Other comprehensive income (Loss) before taxes	0	0
Tax effects	0	0
Other comprehensive income		0
Other comprehensive (loss) income	0
Ending balance	(1)	(1)	(1)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(8)	(12)	(12)
Other comprehensive (loss) income	(1)	4	0
Ending balance	$ (9)	$ (8)	$ (12)

Other Income, Net (Details)

Other Income, Net (Details) - USD ($) $ in Millions	12 Months Ended
Other Income, Net (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Income and Expenses [Abstract]
Interest income	$ 240	$ 85	$ 3
Adjustment to deferred compensation expense	$ 7	15	13
Equity income (loss) from investments in Trinidad		$ 46	$ 18

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Income Tax Assets (Liabilities), Net (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deferred Income Tax Assets (Liabilities)
Foreign Oil and Gas Exploration and Development Costs Deducted for Tax Under Book Depreciation, Depletion and Amortization	$ (26)	$ (18)
Foreign Asset Retirement Obligations	84	81
Foreign Accrued Expenses and Liabilities	12	13
Foreign Net Operating Loss	97	82
Foreign Valuation Allowances	(126)	(116)
Foreign Other	1	(9)
Total Net Deferred Income Tax Assets	42	33
Deferred Income Tax (Assets) Liabilities
Oil and Gas Exploration and Development Costs Deducted for Tax Over Book Depreciation, Depletion and Amortization	5,778	5,291
Financial Commodity Derivative Contracts	0	(421)
Deferred Compensation Plans	(61)	(58)
Equity Awards	(59)	(60)
Corporate Alternative Minimum Tax	(212)	0
Other	(44)	(42)
Total Net Deferred Income Tax Liabilities	5,402	4,710
Total Net Deferred Income Tax Liabilities	$ 5,360	$ 4,677

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Income Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Components Income (Loss) Before Income Taxes [Abstract]
United States	$ 9,576	$ 9,752	$ 5,787
Foreign	113	149	146
Total	$ 9,689	$ 9,901	$ 5,933

Income Taxes - Schedule of Co_2

Income Taxes - Schedule of Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
Federal	$ 1,334	$ 2,020	$ 1,203
State	76	126	85
Foreign	5	62	105
Total	1,415	2,208	1,393
Deferred:
Federal	628	(2)	(41)
State	55	(37)	(62)
Foreign	0	(22)	(19)
Total	683	(61)	(122)
Other Non-Current
Foreign	(3)	(5)	(2)
Total	(3)	(5)	(2)
Income Tax Provision	$ 2,095	$ 2,142	$ 1,269

Income Taxes - Schedule of Tax

Income Taxes - Schedule of Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Federal Statutory and Effective Income Tax Rates [Abstract]
Statutory Federal Income Tax Rate	21%	21%	21%
State Income Tax, Net of Federal Benefit	1%	0.70%	0.30%
Income Tax Provision Related to Foreign Operations	(0.20%)	0%	0.90%
Stock-Based Compensation	0%	0%	0.20%
Other	(0.20%)	0%	(1.00%)
Effective Income Tax Rate	21.60%	21.70%	21.40%

Income Taxes - Schedule of Valu

Income Taxes - Schedule of Valuation Allowance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Increase Decrease of Valuation of Allowance [Roll Forward]
Beginning Balance	$ 207	$ 219	$ 219
Increase	8	27	15
Decrease	0	(33)	(14)
Other	1	(6)	(1)
Ending Balance	$ 216	$ 207	$ 219

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Balance of state net operating income expected to be carried forward	$ 1,900
Canadian Net operating loss carryforwards	333
Corporate Alternative Minimum Tax	$ 212	$ 0

Employee Benefit Plans -Schedul

Employee Benefit Plans -Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expenses	$ 177	$ 133	$ 152
Lease and Well
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expenses	54	40	49
Gathering and Processing Costs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expenses	4	4	3
Exploration Costs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expenses	24	15	20
General and Administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expenses	$ 95	$ 74	$ 80

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Feb. 22, 2024 shares	Dec. 31, 2023 USD ($) awardPeriod $ / shares shares	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate maximum of common shares (in shares) \| shares		20,000,000
Common shares available for grant(in shares) \| shares		15,000,000
Net tax benefits / (deficiencies) recognized		$ 32	$ 22	$ (11)
Stock-Based Compensation Expenses		177	133	152
Pension Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total pension plan costs		61	56	52
Company contributions to foreign pension plans		1	1	1
Defined benefit plan, benefit obligation		16	14
Fair value of foreign pension plan assets		16	15
(Prepaid) / Accrued benefit cost		$ (0.9)	(0.5)
Stock Options/SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Terms for stock options and SARs granted maximum		7 years
Stock-based compensation expense		$ 24	34	48
Stock options/SARs vested or expected to vest (in shares) \| shares		2,800,000
Weighted average grant price vested or expected to vest (per share) \| $ / shares		$ 79.17
Intrinsic value of stock options/SARs vested or expected to vest		$ 119
Weighted average remaining contractual life		3 years 3 months 18 days
Unrecognized compensation expense		$ 13
Weighted average period over which unrecognized compensation expense will be recognized		8 months 12 days
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares available for grant(in shares) \| shares		1,200,000
Percentage of fair market value at which employees may purchase company stock via the ESPP		85%
Contributions to the ESPP percentage		10%
Number of award offerings \| awardPeriod		2
ESPP offering period		6 months
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 137	88	89
Unrecognized compensation expense		$ 357
Weighted average period over which unrecognized compensation expense will be recognized		1 year 9 months 18 days
Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense		$ 18
Weighted average period over which unrecognized compensation expense will be recognized		1 year 8 months 12 days
Performance period for performance units		3 years
Minimum performance multiple at the completion performance period		0%
Maximum performance multiple at the completion performance period		200%
Maximum performance multiple if TSR is negative		100%
Average return of capital employed, number of years		3 years
Stock-Based Compensation Expenses		$ 16	$ 11	$ 15
Performance multiple applied at the completion period					50%	50%	125%
Performance Units \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance multiple applied at the completion period	25%
Additional performance awards granted (in shares) \| shares	134,981
Performance Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Modifier applied to performance based multiple		(70.00%)
Performance Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Modifier applied to performance based multiple		70%

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Vesting (Details)	12 Months Ended
Employee Benefit Plans - Schedule of Vesting (Details)	Dec. 31, 2023
Stock Options/SARs \| Vesting Schedule - First Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period increments	33.30%
Stock Options/SARs \| Vesting Schedule - Second Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period increments	33.30%
Stock Options/SARs \| Vesting Schedule - Third Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period increments	33.40%
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, award vesting period	3 years
Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cliff vesting period	3 years

Employee Benefit Plans- Schedul

Employee Benefit Plans- Schedule of Weighted Average Fair Values and Valuation Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stock Options/SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Fair Value of Grants (in usd per share)		$ 28.30	$ 24.92
Expected Volatility		42.20%	42.24%
Risk-Free Interest Rate		0.89%	0.50%
Dividend Yield		3.28%	2.26%
Expected Life		5 years 3 months 18 days	5 years 2 months 12 days
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Fair Value of Grants (in usd per share)	$ 29.35	$ 26.62	$ 18.12
Expected Volatility	38.01%	43%	51.27%
Risk-Free Interest Rate	5.02%	1.30%	0.07%
Dividend Yield	2.68%	2.89%	2.89%
Expected Life	6 months	6 months	6 months

Employee Benefit Plans- Sched_2

Employee Benefit Plans- Schedule of Stock Options and SARs Transactions (Details) - Stock Options/SARs - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stock Options and SARs Rollforward [Abstract]
Beginning balance (in shares)	4,225	9,969	10,186
Granted (in shares)	0	2	1,982
Exercised (in shares)	(1,294)	(5,526)	(1,130)
Forfeited (in shares)	(88)	(220)	(1,069)
Ending balance (in shares)	2,843	4,225	9,969
Vested or Expected to Vest (in shares)	2,282	2,462	6,197
Stock Options and SARs Rollforward [Abstract]
Beginning balance (in USD per share)	$ 77.49	$ 84.37	$ 84.08
Granted (in USD per share)	0	97.64	81.68
Exercised (in USD per share)	73.01	89.70	63.98
Forfeited (in USD per share)	87.74	82.74	98.15
Ending balance (in USD per share)	79.22	77.49	84.37
Vested or Expected to Vest (in USD per share)	$ 78.60	$ 84.53	$ 95.33
Intrinsic value of stock options/SARs exercised during the year	$ 70	$ 190	$ 27

Employee Benefit Plans - Sche_2

Employee Benefit Plans - Schedule of Stock Options and SARs Outstanding and Exercisable (Details) - Stock Options/SARs $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Summary Information By Grant Price Range For Stock Options And SARs Outstanding And Exercisable At End Of Period [Line Items]
Stock Options and SARs Outstanding (in shares) \| shares	2,843
Weighted Average Remaining Life for Stock Options/SARs Outstanding (Years)	3 years
Weighted Average Grant Price For Stock Options/SARs Outstanding (in usd per share)	$ 79.22
Aggregate Intrinsic Value For Stock Options/SARs Outstanding \| $	$ 121
Stock Options and SARs Exercisable (in shares) \| shares	2,282
Weighted Average Remaining Life For Stock Options/SARs Exercisable (Years)	3 years
Weighted Average Grant Price For Stock Options/SARs Exercisable (in usd per share)	$ 78.60
Aggregate Intrinsic Value For Stock Options/SARs Exercisable \| $	$ 99
$ 34.00 to $ 52.99
Summary Information By Grant Price Range For Stock Options And SARs Outstanding And Exercisable At End Of Period [Line Items]
Range of Grant Prices Lower Limit (in USD per share)	$ 34
Range of Grant Prices Upper Range Limit (in USD per share)	$ 52.99
Stock Options and SARs Outstanding (in shares) \| shares	634
Weighted Average Remaining Life for Stock Options/SARs Outstanding (Years)	3 years
Weighted Average Grant Price For Stock Options/SARs Outstanding (in usd per share)	$ 37.49
Stock Options and SARs Exercisable (in shares) \| shares	633
Weighted Average Remaining Life For Stock Options/SARs Exercisable (Years)	3 years
Weighted Average Grant Price For Stock Options/SARs Exercisable (in usd per share)	$ 37.46
53.00 to 80.99
Summary Information By Grant Price Range For Stock Options And SARs Outstanding And Exercisable At End Of Period [Line Items]
Range of Grant Prices Lower Limit (in USD per share)	53
Range of Grant Prices Upper Range Limit (in USD per share)	$ 80.99
Stock Options and SARs Outstanding (in shares) \| shares	380
Weighted Average Remaining Life for Stock Options/SARs Outstanding (Years)	3 years
Weighted Average Grant Price For Stock Options/SARs Outstanding (in usd per share)	$ 74.99
Stock Options and SARs Exercisable (in shares) \| shares	376
Weighted Average Remaining Life For Stock Options/SARs Exercisable (Years)	3 years
Weighted Average Grant Price For Stock Options/SARs Exercisable (in usd per share)	$ 75.03
81.00 to 81.99
Summary Information By Grant Price Range For Stock Options And SARs Outstanding And Exercisable At End Of Period [Line Items]
Range of Grant Prices Lower Limit (in USD per share)	81
Range of Grant Prices Upper Range Limit (in USD per share)	$ 81.99
Stock Options and SARs Outstanding (in shares) \| shares	1,140
Weighted Average Remaining Life for Stock Options/SARs Outstanding (Years)	5 years
Weighted Average Grant Price For Stock Options/SARs Outstanding (in usd per share)	$ 81.81
Stock Options and SARs Exercisable (in shares) \| shares	588
Weighted Average Remaining Life For Stock Options/SARs Exercisable (Years)	4 years
Weighted Average Grant Price For Stock Options/SARs Exercisable (in usd per share)	$ 81.81
82.00 to 96.99
Summary Information By Grant Price Range For Stock Options And SARs Outstanding And Exercisable At End Of Period [Line Items]
Range of Grant Prices Lower Limit (in USD per share)	82
Range of Grant Prices Upper Range Limit (in USD per share)	$ 96.99
Stock Options and SARs Outstanding (in shares) \| shares	246
Weighted Average Remaining Life for Stock Options/SARs Outstanding (Years)	1 year
Weighted Average Grant Price For Stock Options/SARs Outstanding (in usd per share)	$ 95.97
Stock Options and SARs Exercisable (in shares) \| shares	242
Weighted Average Remaining Life For Stock Options/SARs Exercisable (Years)	1 year
Weighted Average Grant Price For Stock Options/SARs Exercisable (in usd per share)	$ 96.09
97.00 to 129.99
Summary Information By Grant Price Range For Stock Options And SARs Outstanding And Exercisable At End Of Period [Line Items]
Range of Grant Prices Lower Limit (in USD per share)	97
Range of Grant Prices Upper Range Limit (in USD per share)	$ 129.99
Stock Options and SARs Outstanding (in shares) \| shares	443
Weighted Average Remaining Life for Stock Options/SARs Outstanding (Years)	2 years
Weighted Average Grant Price For Stock Options/SARs Outstanding (in usd per share)	$ 126.57
Stock Options and SARs Exercisable (in shares) \| shares	443
Weighted Average Remaining Life For Stock Options/SARs Exercisable (Years)	2 years
Weighted Average Grant Price For Stock Options/SARs Exercisable (in usd per share)	$ 126.58

Employee Benefit Plans - Sche_3

Employee Benefit Plans - Schedule of ESPP Activity (Details) - ESPP shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) participant shares	Dec. 31, 2022 USD ($) participant shares	Dec. 31, 2021 USD ($) participant shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Approximate Number of Participants \| participant	2,015	1,969	2,036
Shares Purchased (in shares) \| shares	193	201	316
Aggregate Purchase Price \| $	$ 18,759	$ 17,250	$ 17,224

Employee Benefit Plans - Sche_4

Employee Benefit Plans - Schedule of Restricted Stock and Restricted Stock Unit Transactions (Details) - Restricted Stock and Restricted Stock Units - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Number of Shares and Units [Roll Forward]
Beginning balance (in shares)	4,113	4,680	4,742
Granted (in shares)	1,680	1,637	1,422
Released (in shares)	(1,295)	(2,019)	(1,388)
Forfeited (in shares)	(134)	(185)	(96)
Ending balance (in shares)	4,364	4,113	4,680
Weighted Average Grant Price Stock Option and SARs [Rollfoward]
Beginning balance (in USD per share)	$ 80.77	$ 69.37	$ 74.97
Granted (in USD per share)	131.10	113.21	81.50
Released (in USD per share)	42.03	81.76	101
Forfeited (in USD per share)	93.54	68.89	68.26
Ending balance (in USD per share)	$ 111.24	$ 80.77	$ 69.37
Intrinsic value of restricted stock and restrcited stock units	$ 166	$ 223	$ 110
Aggregate intrinsic value of restricted stock and restricted stock units	$ 528	$ 533	$ 416

Employee Benefit Plans - Sche_5

Employee Benefit Plans - Schedule of Weighted Average Fair Values and Valuation Assumptions for Performance Units/Stocks (Details) - Performance Units - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Fair Value of Grants (in usd per share)	$ 142.20	$ 126.55	$ 95.16
Expected Volatility	44.76%	56.11%	53.80%
Risk-Free Interest Rate	4.53%	4.01%	0.59%

Employee Benefit Plans - Sche_6

Employee Benefit Plans - Schedule of Performance Unit and Performance Stock Transactions (Details) - Performance Units - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Number of Shares and Units [Roll Forward]
Beginning balance (in shares)	688,000	679,000	613,000
Granted (in shares)	114,000	122,000	222,000
Granted for Performance Multiple (in shares)	0	0	19,000
Released (in shares)	(86,000)	(57,000)	(175,000)
Forfeited for Performance Multiple (in shares)	(86,000)	(56,000)	0
Ending balance (in shares)	630,000	688,000	679,000
Weighted Average Grant Price Stock Option and SARs [Rollfoward]
Beginning balance (in USD per share)	$ 83.82	$ 84.97	$ 88.38
Granted (in USD per share)	142.20	126.55	95.16
Granted for Performance Multiple (in USD per share)	0	0	113.81
Released (in USD per share)	79.98	136.74	113.06
Forfeited for Performance Multiple (in USD per share)	79.98	136.74	0
Ending balance (in USD per share)	$ 95.49	$ 83.82	$ 84.97
Performance multiple applied at the completion period				50%	50%	125%
Intrinsic value of performance units released during the years	$ 10	$ 7	$ 13
Aggregate intrinsic value of Performance units outstanding	$ 76	$ 89	$ 60
Minimum performance units and stock allowed to be outstanding (in shares)	0
Maximum performance units and stock allowed to be outstanding (in shares)	1,261,000

Commitments and Contingencies_2

Commitments and Contingencies (Details)	Feb. 16, 2024 USD ($)	Dec. 31, 2023 USD ($) Bcfe MBbls	Dec. 31, 2022 USD ($)
Loss Contingencies [Line Items]
Standby letters of credit and guarantees outstanding		$ 907,000,000	$ 776,000,000
Total Minimum Commitments [Abstract]
2024		1,751,000,000
2025		1,201,000,000
2026		983,000,000
2027		829,000,000
2028		545,000,000
2029 and beyond		1,375,000,000
Total Minimum Commitments		$ 6,684,000,000
Oil and gas, delivery commitment, quantity committed, year 2024 \| MBbls		7,000
Oil and gas, delivery commitment, quantity committed, year 2025 \| MBbls		1,000
Natural gas, delivery commitment, quantity committed, year 2024 \| Bcfe		371
Natural gas, delivery commitment, quantity committed, year 2025 \| Bcfe		282
Natural gas, delivery commitment, quantity committed, year 2026 \| Bcfe		297
Natural gas, delivery commitment, quantity committed, year 2027 \| Bcfe		293
Natural gas, delivery commitment, quantity committed, year 2028 \| Bcfe		263
Natural gas, delivery commitment, quantity committed, thereafter \| Bcfe		3,277
Subsequent Event
Loss Contingencies [Line Items]
Subsidiary guarantees demand for payment	$ 0

Net Income Per Share - Schedule

Net Income Per Share - Schedule of Computation of Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator for Basic and Diluted Earnings per Share -
Net income (loss) - basic	$ 7,594	$ 7,759	$ 4,664
Net income (loss) - diluted	$ 7,594	$ 7,759	$ 4,664
Denominator for Basic Earnings per Share -
Weighted average shares (in shares)	581	583	581
Denominator for Diluted Earnings per Share -
Adjusted diluted weighted average shares (in shares)	584	587	584
Net Income Per Share
Basic ( in usd per share)	$ 13.07	$ 13.31	$ 8.03
Diluted (in usd per share)	$ 13	$ 13.22	$ 7.99
Stock Options/SARs
Potential Dilutive Common Shares -
Common shares attributable to dilutive effect of share-based payment arrangements (in shares)	1	2	0
Restricted Stock/Units and Performance Units
Potential Dilutive Common Shares -
Common shares attributable to dilutive effect of share-based payment arrangements (in shares)	2	2	3

Net Income Per Share - Narrativ

Net Income Per Share - Narrative (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stock Options/SARs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount ( in shares)	1	1	6

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Schedule of Computation of Net Income Per Share (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Supplemental Cash Flow Information [Abstract]
Interest, Net of Capitalized Interest	$ 161	$ 173	$ 185
Income Taxes, Net of Refunds Received	$ 1,229	$ 2,475	$ 1,114

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Accrued capital expenditures	$ 631	$ 713	$ 592
Non-cash property exchanges	$ 195	$ 153	50
Noncash additions to other property, plant and equipment			$ 74

Business Segment Information -

Business Segment Information - Narrative (Details)	12 Months Ended
Business Segment Information - Narrative (Details)	Dec. 31, 2023 Segment
Segment Reporting [Abstract]
Number of operating segments	1

Business Segment Information _2

Business Segment Information - Schedule of Selected Financial Information by Reportable Segment (Details) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2021 USD ($)	Dec. 31, 2023 USD ($) purchaser	Dec. 31, 2022 USD ($) purchaser	Dec. 31, 2021 USD ($) purchaser
Schedule of Segment Reporting Information By Segment [Abstract]
Gains on Asset Dispositions, Net		$ 95	$ 74	$ 17
Operating Revenues and Other		24,186	25,702	18,642
Depreciation, Depletion and Amortization		3,492	3,542	3,651
Operating Income (Loss)		9,603	9,966	6,102
Interest Income		240	85	3
Other Income (Expense)		(6)	29	6
Interest Expense, Net		148	179	178
Income Before Income Taxes		9,689	9,901	5,933
Income Tax Provision		2,095	2,142	1,269
Additions to Oil and Gas Properties, Excluding Dry Hole Costs		5,579	4,727	3,617
Total Property, Plant and Equipment, Net		32,297	29,429	28,426
Total Assets		$ 43,857	$ 41,371	$ 38,236
Number of significant purchaser \| purchaser		3	3	2
First sale with significant purchaser \| purchaser		1	1	1
Sales made with second significant purchaser \| purchaser		2	1
Sales made with third significant purchaser \| purchaser			1	1
Dry hole costs		$ 1	$ 45	$ 71
Crude Oil and Condensate
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue from contract with customer		13,748	16,367	11,125
Natural Gas Liquids
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue from contract with customer		1,884	2,648	1,812
Natural Gas
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue from contract with customer		1,744	3,781	2,444
Gains (Losses) on Mark-to-Market Financial Commodity Derivative Contracts, Net
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue not from contract with customer		818	(3,982)	(1,152)
Gathering, Processing and Marketing
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue from contract with customer		5,806	6,696	4,288
Other, Net
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue not from contract with customer		91	118	108
United States
Schedule of Segment Reporting Information By Segment [Abstract]
Gains on Asset Dispositions, Net		53	77	(40)
Operating Revenues and Other		23,916	25,394	18,265
Depreciation, Depletion and Amortization		3,414	3,469	3,558
Operating Income (Loss)		9,516	9,880	6,013
Interest Income		223	81	3
Other Income (Expense)		(6)	(17)	(14)
Interest Expense, Net		148	179	178
Income Before Income Taxes		9,585	9,765	5,824
Income Tax Provision		2,093	2,106	1,247
Additions to Oil and Gas Properties, Excluding Dry Hole Costs		5,413	4,599	3,557
Total Property, Plant and Equipment, Net		31,876	29,109	28,213
Total Assets		42,674	40,349	37,436
Amount of sales with a single significant purchaser in the United States segment		3,300	3,300	2,700
Amount of sales with a second significant purchaser in the United States segment.		2,600	3,100	2,600
Amount of sales with a third significant purchaser in the United States segment.		2,600	3,000
United States \| Crude Oil and Condensate
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue from contract with customer		13,734	16,349	11,094
United States \| Natural Gas Liquids
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue from contract with customer		1,884	2,648	1,812
United States \| Natural Gas
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue from contract with customer		1,530	3,489	2,156
United States \| Gains (Losses) on Mark-to-Market Financial Commodity Derivative Contracts, Net
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue not from contract with customer		818	(3,982)	(1,152)
United States \| Gathering, Processing and Marketing
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue from contract with customer		5,806	6,695	4,287
United States \| Other, Net
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue not from contract with customer		91	118	108
Trinidad
Schedule of Segment Reporting Information By Segment [Abstract]
Gains on Asset Dispositions, Net		42	(4)	(2)
Operating Revenues and Other		270	307	300
Depreciation, Depletion and Amortization		78	73	87
Operating Income (Loss)		124	122	151
Interest Income		12	2	0
Other Income (Expense)		1	46	8
Interest Expense, Net		0	0	0
Income Before Income Taxes		137	170	159
Income Tax Provision		2	35	66
Additions to Oil and Gas Properties, Excluding Dry Hole Costs		162	122	55
Total Property, Plant and Equipment, Net		404	307	204
Total Assets		1,063	879	637
Trinidad \| Crude Oil and Condensate
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue from contract with customer		14	18	31
Trinidad \| Natural Gas Liquids
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue from contract with customer		0	0	0
Trinidad \| Natural Gas
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue from contract with customer		214	292	270
Trinidad \| Gains (Losses) on Mark-to-Market Financial Commodity Derivative Contracts, Net
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue not from contract with customer		0	0	0
Trinidad \| Gathering, Processing and Marketing
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue from contract with customer		0	1	1
Trinidad \| Other, Net
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue not from contract with customer		0	0	0
Other International
Schedule of Segment Reporting Information By Segment [Abstract]
Gains on Asset Dispositions, Net	$ 58	0	1	59
Operating Revenues and Other		0	1	77
Depreciation, Depletion and Amortization		0	0	6
Operating Income (Loss)		(37)	(36)	(62)
Interest Income		5	2	0
Other Income (Expense)		(1)	0	12
Interest Expense, Net		0	0	0
Income Before Income Taxes		(33)	(34)	(50)
Income Tax Provision		0	1	(44)
Additions to Oil and Gas Properties, Excluding Dry Hole Costs		4	6	5
Total Property, Plant and Equipment, Net		17	13	9
Total Assets		120	143	163
Pretax impairment charges		18	15	45
Dry hole costs				42
Other International \| Crude Oil and Condensate
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue from contract with customer		0	0	0
Other International \| Natural Gas Liquids
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue from contract with customer		0	0	0
Other International \| Natural Gas
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue from contract with customer		0	0	18
Other International \| Gains (Losses) on Mark-to-Market Financial Commodity Derivative Contracts, Net
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue not from contract with customer		0	0	0
Other International \| Gathering, Processing and Marketing
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue from contract with customer		0	0	0
Other International \| Other, Net
Schedule of Segment Reporting Information By Segment [Abstract]
Revenue not from contract with customer		$ 0	$ 0	$ 0

Risk Management Activities - Na

Risk Management Activities - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Unrealized gain (loss) on derivatives and commodity contracts	$ 818	$ (3,982)	$ (1,152)
Cash received from (payments for) settlements of crude oil	$ (112)	$ (3,501)	$ (638)
Receivable major customer percentage	10%	10%
Collateral already posted on derivative	$ 0	$ 324
Collateral held on derivative	$ 0	$ 0

Risk Management Activities - Sc

Risk Management Activities - Schedule of Derivative Instruments (Details)	12 Months Ended
	Dec. 31, 2023 MMBoe MMBTU $ / bbl $ / MMBTU $ / mMBTu MBbls
Crude Oil \| Derivative Contracts - January through March (closed) \| Price Swaps
Derivatives, Fair Value [Line Items]
Volume (Bbld) \| MBbls	95
Weighted Average Price ($/MMBtu)(in usd per share) \| $ / bbl	67.90
Crude Oil \| OffSetting Derivative Contracts - January through March (closed) \| Price Swaps
Derivatives, Fair Value [Line Items]
Volume (Bbld) \| MBbls	6
Weighted Average Price ($/MMBtu)(in usd per share) \| $ / bbl	102.26
Crude Oil \| Derivative Contracts - April Through May (closed) \| Price Swaps
Derivatives, Fair Value [Line Items]
Volume (Bbld) \| MBbls	91
Weighted Average Price ($/MMBtu)(in usd per share) \| $ / bbl	67.63
Crude Oil \| offsetting Derivative Contracts - April Through May (closed) \| Price Swaps
Derivatives, Fair Value [Line Items]
Volume (Bbld) \| MBbls	2
Weighted Average Price ($/MMBtu)(in usd per share) \| $ / bbl	98.15
Crude Oil \| Derivative Contracts - June (closed) \| Price Swaps
Derivatives, Fair Value [Line Items]
Volume (Bbld) \| MBbls	2
Weighted Average Price ($/MMBtu)(in usd per share) \| $ / bbl	69.10
Crude Oil \| OffSetting Derivative Contracts - June (closed) \| Price Swaps
Derivatives, Fair Value [Line Items]
Volume (Bbld) \| MBbls	2
Weighted Average Price ($/MMBtu)(in usd per share) \| $ / bbl	98.15
Natural Gas \| Derivative Contracts - January - December (closed) \| Price Swaps
Derivatives, Fair Value [Line Items]
Weighted Average Price ($/MMBtu)(in usd per share) \| $ / mMBTu	3.36
Volume (MMBtu) \| MMBoe	300
Natural Gas \| Derivative Contracts - January - December (closed) \| HSC Differential Basis Swaps
Derivatives, Fair Value [Line Items]
Volume (MMBtu) \| MMBTU	135
Weighted Average Price Differential (MMBtu) ( in usd per share) \| $ / MMBTU	0.01
Natural Gas \| Derivative Contracts - January (closed) \| Price Swaps
Derivatives, Fair Value [Line Items]
Weighted Average Price ($/MMBtu)(in usd per share) \| $ / mMBTu	3.07
Volume (MMBtu) \| MMBoe	725
Natural Gas \| Derivative Contracts - February Through December \| Price Swaps
Derivatives, Fair Value [Line Items]
Weighted Average Price ($/MMBtu)(in usd per share) \| $ / mMBTu	3.07
Volume (MMBtu) \| MMBoe	725
Natural Gas \| Derivative Contracts - January through December Year One \| Price Swaps
Derivatives, Fair Value [Line Items]
Weighted Average Price ($/MMBtu)(in usd per share) \| $ / mMBTu	3.07
Volume (MMBtu) \| MMBoe	725
Natural Gas \| Derivative Contracts - January through December Year Two \| HSC Differential Basis Swaps
Derivatives, Fair Value [Line Items]
Volume (MMBtu) \| MMBTU	10
Weighted Average Price Differential (MMBtu) ( in usd per share) \| $ / MMBTU	0
Natural Gas \| Derivative Contracts - January through December Year Three \| HSC Differential Basis Swaps
Derivatives, Fair Value [Line Items]
Volume (MMBtu) \| MMBTU	10
Weighted Average Price Differential (MMBtu) ( in usd per share) \| $ / MMBTU	0

Risk Management Activities - _2

Risk Management Activities - Schedule of Derivative Instruments In Statement Of Financial Position, Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Assets from Price Risk Management, Current	$ 106
Liabilities from Price Risk Management Activities	0	$ 169
Price Risk Derivative
Derivatives, Fair Value [Line Items]
Assets from Price Risk Management, Current		0
Liabilities from Price Risk Management Activities	0	169
Other Liabilities	103	$ 371
Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative gross liability	104
Derivative , gross asset	$ 1

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Details) - Commodity Contract - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Natural Gas \| Price Swaps
Financial Liabilities:
Liabilities, fair value disclosure	$ 104	$ 703
Natural Gas \| Price Swaps \| Quoted Prices in Active Markets (Level 1)
Financial Liabilities:
Liabilities, fair value disclosure	0	0
Natural Gas \| Price Swaps \| Significant Other Observable Inputs (Level 2)
Financial Liabilities:
Liabilities, fair value disclosure	104	703
Natural Gas \| Price Swaps \| Significant Unobservable Inputs (Level 3)
Financial Liabilities:
Liabilities, fair value disclosure	0	0
Natural Gas \| Basis Swaps
Financial Assets:
Assets, fair value disclosure	2	29
Natural Gas \| Basis Swaps \| Quoted Prices in Active Markets (Level 1)
Financial Assets:
Assets, fair value disclosure	0	0
Natural Gas \| Basis Swaps \| Significant Other Observable Inputs (Level 2)
Financial Assets:
Assets, fair value disclosure	2	29
Natural Gas \| Basis Swaps \| Significant Unobservable Inputs (Level 3)
Financial Assets:
Assets, fair value disclosure	0	0
Natural Gas Swaps \| Basis Swaps
Financial Assets:
Assets, fair value disclosure	105
Natural Gas Swaps \| Basis Swaps \| Quoted Prices in Active Markets (Level 1)
Financial Assets:
Assets, fair value disclosure	0
Natural Gas Swaps \| Basis Swaps \| Significant Other Observable Inputs (Level 2)
Financial Assets:
Assets, fair value disclosure	105
Natural Gas Swaps \| Basis Swaps \| Significant Unobservable Inputs (Level 3)
Financial Assets:
Assets, fair value disclosure	$ 0
Crude Oil \| Price Swaps
Financial Liabilities:
Liabilities, fair value disclosure		190
Crude Oil \| Price Swaps \| Quoted Prices in Active Markets (Level 1)
Financial Liabilities:
Liabilities, fair value disclosure		0
Crude Oil \| Price Swaps \| Significant Other Observable Inputs (Level 2)
Financial Liabilities:
Liabilities, fair value disclosure		190
Crude Oil \| Price Swaps \| Significant Unobservable Inputs (Level 3)
Financial Liabilities:
Liabilities, fair value disclosure		$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) MMBTU in Thousands, $ in Millions	1 Months Ended	12 Months Ended
	Feb. 22, 2024 MMBTU	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Proved Oil and Gas Properties, Other Property, Plant and Equipment and Other Assets [Abstract]
Proved oil and gas properties carrying amount		$ 59	$ 146	$ 27
Assets written down during the period - fair value at end of period		15	26	7
Pretax impairment charges		44	120	$ 20
Debt Disclosure [Abstract]
Aggregate principal amount of current and long-term debt		3,640	4,890
Estimated fair value of debt		$ 3,574	$ 4,740
Subsequent Event
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Sales agreement term	10 years
Agreement to sell domestic gas production \| MMBTU	180
Agreement to sell at a price indexed to Brent Crude Oil \| MMBTU	140

Impairment Expense (Details)

Impairment Expense (Details) - USD ($) $ in Millions	12 Months Ended
Impairment Expense (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Impairment of Oil and Gas Properties [Line Items]
Impairment of oil and gas properties	$ 202	$ 382	$ 376
Proved Properties
Impairment of Oil and Gas Properties [Line Items]
Impairment of oil and gas properties	44	120	20
Unproved Properties
Impairment of Oil and Gas Properties [Line Items]
Impairment of oil and gas properties	125	206	310
Impairment of oil and gas properties due to exit activities			38
Other Assets
Impairment of Oil and Gas Properties [Line Items]
Impairment of oil and gas properties	31	29	28
Inventories
Impairment of Oil and Gas Properties [Line Items]
Impairment of oil and gas properties	0	25	13
Firm Commitments Contracts
Impairment of Oil and Gas Properties [Line Items]
Impairment of oil and gas properties	$ 2	$ 2	$ 5

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Carrying Amount at Beginning of Period	$ 1,328	$ 1,231
Liabilities Incurred	71	100
Liabilities Settled	(114)	(215)
Accretion	53	43
Revisions	166	173
Foreign Currency Translations	2	(4)
Carrying Amount at End of Period	1,506	1,328
Current Portion	37	38
Noncurrent Portion	$ 1,469	$ 1,290

Exploratory Well Costs (Details

Exploratory Well Costs (Details) $ in Millions	12 Months Ended
Exploratory Well Costs (Details) $ in Millions	Dec. 31, 2023 USD ($) well project	Dec. 31, 2022 USD ($) well	Dec. 31, 2021 USD ($) well
Increase (Decrease) in Capitalized Exploratory Well Costs that are Pending Determination of Proved Reserves [Roll Forward]
Beginning balance	$ 15	$ 7	$ 29
Additions Pending the Determination of Proved Reserves	195	135	73
Reclassifications to Proved Properties	(133)	(88)	(41)
Costs Charged to Expense	(1)	(39)	(54)
Ending balance	76	15	7
Capitalized exploratory well costs that have been capitalized for a period of one year or less	73	15	7
Capitalized exploratory well costs that have been capitalized for a period greater than one year	$ 3	$ 0	$ 0
Number of exploratory wells that have been capitalized for a period greater than one year \| well	2	0	0
Number of projects \| project	2

Acquisitions and Divestitures (

Acquisitions and Divestitures (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Combination, Separately Recognized Transactions [Line Items]
Gains (losses) on asset dispositions, net	$ 95	$ 74	$ 17
Proceeds on asset dispositions	140	349	231
United States
Business Combination, Separately Recognized Transactions [Line Items]
Payments to acquire oil and gas property	$ 144	$ 393	95
Held-for-sale
Business Combination, Separately Recognized Transactions [Line Items]
Book value of assets held-for-sale			99
Book value of asset retirement obligations			$ 105

Leases - Schedule of Lease (Det

Leases - Schedule of Lease (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating Lease Cost	$ 387	$ 282	$ 295
Amortization of Lease Assets	33	36	39
Interest on Lease Liabilities	5	6	7
Variable Lease Cost	91	71	63
Short-Term Lease Cost	567	425	257
Total Lease Cost	$ 1,083	$ 820	$ 661

Leases - Schedule of Outstandin

Leases - Schedule of Outstanding Lease Assets And Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Operating and Finance Leases [Line Items]
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent	Other Assets, Noncurrent
Other Assets	$ 974	$ 846
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Gross	Property, Plant and Equipment, Gross
Property, Plant and Equipment, Net	$ 170	$ 203
Total	$ 1,144	$ 1,049
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Current Portion of Operating Lease Liabilities	Current Portion of Operating Lease Liabilities
Current Portion of Operating Lease Liabilities	$ 325	$ 296
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Current Portion of Long-Term Debt	Current Portion of Long-Term Debt
Current Portion of Long-Term Debt	$ 34	$ 33
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities	Other Liabilities
Other Liabilities	$ 676	$ 584
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-Term Debt	Long-Term Debt
Long-Term Debt	$ 149	$ 182
Total	1,184	1,095
Property, Plant and Equipment
Operating and Finance Leases [Line Items]
Finance lease, accumulated amortization	$ 190	$ 157

Leases - Schedule of Weighted A

Leases - Schedule of Weighted Average Remaining Lease Term And Discount Rate (Details)	Dec. 31, 2023	Dec. 31, 2022
Weighted Average Remaining Lease Term (in years):
Operating Leases	5 years 3 months 18 days	4 years 10 months 24 days
Finance Leases	5 years 6 months	6 years 6 months
Weighted Average Discount Rate:
Operating Leases	4.30%	3.40%
Finance Leases	2.60%	2.60%

Leases - Schedule of Cash Paid

Leases - Schedule of Cash Paid for Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating and Finance Leases [Line Items]
Repayment of Finance Lease Liabilities	$ 32	$ 35	$ 37
Operating Activities
Operating and Finance Leases [Line Items]
Repayment of Operating Lease Liabilities Associated with Operating Activities and Investing Activities	226	199	207
Investing Activities
Operating and Finance Leases [Line Items]
Repayment of Operating Lease Liabilities Associated with Operating Activities and Investing Activities	$ 172	$ 95	$ 98

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating leases non-cash leasing activities	$ 727	$ 511	$ 333
Finance leases non-Cash leasing activities	0	$ 0	$ 74
Leases not yet commenced	$ 350
Minimum commenced lease term	2 years
Maximum commenced lease term	10 years

Leases - Schedule of Operating

Leases - Schedule of Operating And Finance Non-Cancellable Leases Maturity (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Operating Leases
2024	$ 363
2025	213
2026	129
2027	100
2028	99
2029 and beyond	222
Total Lease Payments	1,126
Less: Discount to Present Value	125
Total Lease Liabilities	1,001
Less: Current Portion of Lease Liabilities	325	$ 296
Long-Term Lease Liabilities	676	584
Finance Leases
2024	37
2025	35
2026	30
2027	30
2028	30
2029 and beyond	35
Total Lease Payments	197
Less: Discount to Present Value	14
Total Lease Liabilities	183	215
Less: Current Portion of Lease Liabilities	34	33
Long-Term Lease Liabilities	$ 149	$ 182