XML 38 R19.htm IDEA: XBRL DOCUMENT v3.25.0.1
Business Segment Information
 12 Months Ended
Dec. 31, 2024
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 and interim 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 makers (CODM) are the Chairman of the Board and Chief Executive Officer, the Executive Vice President and Chief Operating Officer, the Executive Vice President and Chief Financial Officer, the Executive Vice President, General Counsel and Corporate Secretary, and the Senior Vice Presidents of Exploration and Production.

The CODM routinely review and make 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 CODM consider the major United States producing areas to be one operating segment. The CODM use operating income (loss) to assess performance and allocate resources.

Financial information by reportable segment is presented below as of and for the years ended December 31, 2024, 2023 and 2022 (in millions):
United
States		Trinidad
Other
International (1)
Total
2024
Crude Oil and Condensate$13,901 $20 $— $13,921 
Natural Gas Liquids2,106 — — 2,106 
Natural Gas1,256 295 — 1,551 
Gains on Mark-to-Market Financial Commodity and Other Derivative Contracts, Net204 — — 204 
Gathering, Processing and Marketing5,799 1 — 5,800 
Gains (Losses) on Asset Dispositions, Net21 (5)— 16 
Other, Net100 — — 100 
Operating Revenues and Other (2)
23,387 311 — 23,698 
Lease and Well1,532 40 — 
Gathering, Processing and Transportation Costs1,722 — — 
Marketing Costs5,717 — — 
Depreciation, Depletion and Amortization3,968 139 1 
General and Administrative639 15 15 
Taxes Other Than Income1,245 3 1 
Other Segment Items (3) (4)
509 19 51 
Operating Income (Loss)8,055 95 (68)8,082 
Interest Income277 
Other Expense(3)
Interest Expense, Net138 
Income Before Income Taxes8,218 
Other Segment Disclosures:
Additions to Oil and Gas Properties, Excluding Dry Hole Costs
5,213 223 12 5,448 
Total Property, Plant and Equipment, Net33,690 497 25 34,212 
Total Assets45,776 1,220 190 47,186 
Interest Expense, Net138 — — 138 
Interest Income257 15 5 277 
United
States		Trinidad
Other
International (1)
Total
2023
Crude Oil and Condensate$13,734 $14 $— $13,748 
Natural Gas Liquids1,884 — — 1,884 
Natural Gas1,530 214 — 1,744 
Gains on Mark-to-Market Financial Commodity and Other Derivative Contracts, Net818 — — 818 
Gathering, Processing and Marketing5,806 — — 5,806 
Gains on Asset Dispositions, Net53 42 — 95 
Other, Net91 — — 91 
Operating Revenues and Other (5)
23,916 270 — 24,186 
Lease and Well1,410 43 1 
Gathering, Processing and Transportation Costs1,620 — — 
Marketing Costs5,709 — — 
Depreciation, Depletion and Amortization3,414 78 — 
General and Administrative618 15 7 
Taxes Other Than Income1,278 6 — 
Other Segment Items (3) (6)
351 4 29 
Operating Income (Loss)9,516 124 (37)9,603 
Interest Income240 
Other Expense(6)
Interest Expense, Net148 
Income Before Income Taxes9,689 
Other Segment Disclosures:
Additions to Oil and Gas Properties, Excluding Dry Hole Costs
5,413 162 4 5,579 
Total Property, Plant and Equipment, Net31,876 404 17 32,297 
Total Assets42,674 1,063 120 43,857 
Interest Expense, Net148 — — 148 
Interest Income223 12 5 240 
United
States		Trinidad
Other
International (1)
Total
2022    
Crude Oil and Condensate$16,349 $18 $— $16,367 
Natural Gas Liquids2,648 — — 2,648 
Natural Gas3,489 292 — 3,781 
Losses on Mark-to-Market Financial Commodity and Other Derivative Contracts, Net(3,982)— — (3,982)
Gathering, Processing and Marketing6,695 1 — 6,696 
Gains (Losses) on Asset Dispositions, Net77 (4)1 74 
Other, Net118 — — 118 
Operating Revenues and Other (7)
25,394 307 1 25,702 
Lease and Well1,294 36 1 
Gathering, Processing and Transportation Costs1,587 — — 
Marketing Costs6,535 — — 
Depreciation, Depletion and Amortization3,469 73 — 
General and Administrative548 13 9 
Taxes Other Than Income1,575 10 — 
Other Segment Items (3) (8)
506 53 27 
Operating Income (Loss)9,880 122 (36)9,966 
Interest Income85 
Other Income29 
Interest Expense, Net179 
Income Before Income Taxes9,901 
Other Segment Disclosures:
Additions to Oil and Gas Properties, Excluding Dry Hole Costs4,599 122 6 4,727 
Total Property, Plant and Equipment, Net29,109 307 13 29,429 
Total Assets40,349 879 143 41,371 
Interest Expense, Net179 — — 179 
Interest Income81 2 2 85 
(1)Other International primarily consists of EOG's Australia and Canada operations. EOG is continuing the process of exiting its Canada operations. EOG exited Block 36 and Block 49 in Oman in 2023.
(2)EOG had sales activity with three significant purchasers in 2024, one totaling $2.9 billion, another totaling $2.6 billion and a third totaling $2.5 billion of consolidated Operating Revenues and Other in the United States segment.
(3)Other Segment Items includes Exploration Costs, Dry Hole Costs and Impairments.
(4)EOG recorded pretax impairment charges of $31 million in 2024 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.
(5)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.
(6)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.
(7)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.
(8)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.