Risk Management Activities (Tables)

12 Months Ended

Dec. 31, 2024

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, 2024 (closed) and remaining for 2025 and thereafter, as of December 31, 2024. Natural gas volumes are presented in MMBtu per day (MMBtud) and prices are presented in dollars per MMBtu ($/MMBtu).

Natural Gas Financial Price Swap Contracts
		Contracts Sold
Period	Settlement Index	Volume (MMBtud in thousands)	Weighted Average Price ($/MMBtu)
January - December 2024 (closed)	NYMEX Henry Hub	725	$	3.07
January 2025 (closed)	NYMEX Henry Hub	725	3.07
February - December 2025	NYMEX Henry Hub	725	3.07

Natural Gas Basis Swap Contracts
		Contracts Sold
Period	Settlement Index	Volume (MMBtud in thousands)	Weighted Average Price Differential ($/MMBtu)
January - December 2024 (closed)	NYMEX Henry Hub Houston Ship Channel (HSC) Differential (1)	10	$	0.00
January - December 2025	NYMEX Henry Hub HSC Differential	10	0.00

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(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 financial commodity and other derivative instruments at December 31, 2024 and 2023, 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	2024		2023
Asset Derivatives
Crude oil, NGLs and natural gas financial derivative contracts -
Current portion	Assets from Price Risk Management Activities	$	—	$	106
Brent Crude Oil (Brent) Linked Gas Sales Contract -
Noncurrent Portion	Other Assets (1)	110		—
Liability Derivatives
Crude oil, NGLs and natural gas financial derivative contracts -
Current portion	Liabilities from Price Risk Management Activities (2)	$	116	$	—
Noncurrent Portion	Other Liabilities	—		103

(1)    The noncurrent portion related to the Brent Linked Gas Sales Contract consists of gross assets of $110 million at December 31, 2024.

(2)    The current portion of Liabilities from Price Risk Management Activities consists of gross liabilities of $117 million, partially offset by gross assets of $1 million at December 31, 2024.