Segment Information

9 Months Ended

Sep. 30, 2025

EOG's operations are all crude oil, natural gas liquids (NGLs) and natural gas exploration and production-related. The Segment Reporting Topic of the Accounting Standards Codification (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 and Chief Legal Officer, and the Senior Vice Presidents, 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 for the three-month and nine-month periods ended September 30, 2025 and 2024 (in millions):


	United States		Trinidad		Other International (1)		Total
Three Months Ended September 30, 2025
Crude Oil and Condensate	$	3,234	$	9	$	—	$	3,243
NGLs	604		—		—		604
Natural Gas	626		80		1		707
Gains on Mark-to-Market Financial Commodity and Other Derivative Contracts, Net	116		—		—		116
Gathering, Processing and Marketing	1,175		3		—		1,178
Losses on Asset Dispositions, Net	(18)		—		—		(18)
Other, Net	17		—		—		17
Operating Revenues and Other	5,754		92		1		5,847
Lease and Well	413		13		5
Gathering, Processing and Transportation Costs	587		—		—
Marketing Costs	1,134		—		—
Depreciation, Depletion and Amortization	1,134		35		—
General and Administrative	232		5		2
Taxes Other Than Income	307		1		1
Other Segment Items (2)	113		21		8
Operating Income (Loss)	1,834		17		(15)		1,836
Interest Income							57
Other Income							2
Interest Expense, Net							(71)
Income Before Income Taxes							$	1,824

Other Segment Disclosures:
Additions to Oil and Gas Properties, Excluding Dry Hole Costs (3)	8,046		48		34		8,128


Interest Expense, Net	71		—		—		71
Interest Income	53		3		1		57


	United States		Trinidad		Other International (1)		Total
Three Months Ended September 30, 2024
Crude Oil and Condensate	$	3,482	$	6	$	—	$	3,488
NGLs	524		—		—		524
Natural Gas	296		76		—		372
Gains on Mark-to-Market Financial Commodity and Other Derivative Contracts, Net	79		—		—		79
Gathering, Processing and Marketing	1,481		—		—		1,481
Gains (Losses) on Asset Dispositions, Net	(8)		1		—		(7)
Other, Net	27		1		—		28
Operating Revenues and Other	5,881		84		—		5,965
Lease and Well	380		12		—
Gathering, Processing and Transportation Costs	445		—		—
Marketing Costs	1,500		—		—
Depreciation, Depletion and Amortization	996		35		—
General and Administrative	162		4		1
Taxes Other Than Income	281		1		1
Other Segment Items (2)	54		2		2
Operating Income (Loss)	2,063		30		(4)		2,089
Interest Income							76
Other Income							—
Interest Expense, Net							(31)
Income Before Income Taxes							$	2,134

Other Segment Disclosures:
Additions to Oil and Gas Properties, Excluding Dry Hole Costs	1,246		31		3		1,280


Interest Expense, Net	31		—		—		31
Interest Income	71		4		1		76


	United States		Trinidad		Other International (1)		Total
Nine Months Ended September 30, 2025
Crude Oil and Condensate	$	9,489	$	21	$	—	$	9,510
NGLs	1,710		—		—		1,710
Natural Gas	1,696		247		1		1,944
Gains on Mark-to-Market Financial Commodity and Other Derivative Contracts, Net	32		—		—		32
Gathering, Processing and Marketing	3,761		4		—		3,765
Losses on Asset Dispositions, Net	(18)		—		(1)		(19)
Other, Net	52		—		—		52
Operating Revenues and Other	16,722		272		—		16,994
Lease and Well	1,181		37		10
Gathering, Processing and Transportation Costs	1,481		1		—
Marketing Costs	3,675		—		—
Depreciation, Depletion and Amortization	3,113		122		—
General and Administrative	572		13		11
Taxes Other Than Income	947		3		1
Other Segment Items (2)	274		61		50
Operating Income (Loss)	5,479		35		(72)		5,442
Interest Income							181
Other Expense							(2)
Interest Expense, Net							(169)
Income Before Income Taxes							$	5,452

Other Segment Disclosures:
Additions to Oil and Gas Properties, Excluding Dry Hole Costs (3)	11,030		107		37		11,174
Total Property, Plant and Equipment, Net	42,024		499		62		42,585
Total Assets	50,783		1,145		271		52,199
Interest Expense, Net	169		—		—		169
Interest Income	169		8		4		181


	United States		Trinidad		Other International (1)		Total
Nine Months Ended September 30, 2024
Crude Oil and Condensate	$	10,646	$	14	$	—	$	10,660
NGLs	1,552		—		—		1,552
Natural Gas	852		205		—		1,057
Gains on Mark-to-Market Financial Commodity and Other Derivative Contracts, Net	269		—		—		269
Gathering, Processing and Marketing	4,458		1		—		4,459
Gains (Losses) on Asset Dispositions, Net	44		(5)		—		39
Other, Net	76		1		—		77
Operating Revenues and Other	17,897		216		—		18,113
Lease and Well	1,147		31		—
Gathering, Processing and Transportation Costs	1,281		—		—
Marketing Costs	4,394		—		—
Depreciation, Depletion and Amortization	2,987		101		1
General and Administrative	465		11		4
Taxes Other Than Income	955		2		1
Other Segment Items (2)	194		9		40
Operating Income (Loss)	6,474		62		(46)		6,490
Interest Income							208
Other Expense							(4)
Interest Expense, Net							(100)
Income Before Income Taxes							$	6,594

Other Segment Disclosures:
Additions to Oil and Gas Properties, Excluding Dry Hole Costs	4,089		112		4		4,205
Total Property, Plant and Equipment, Net	33,683		422		21		34,126
Total Assets	44,867		1,094		190		46,151
Interest Expense, Net	100		—		—		100
Interest Income	192		12		4		208

(1) Other International primarily consists of EOG's Australia, Kingdom of Bahrain, Canada and United Arab Emirates operations. EOG is continuing the process of exiting its Canada operations.

(2) Other Segment Items include Exploration Costs, Dry Hole Costs and Impairments. Other Segment Items primarily relate to exploration expense in the Kingdom of Bahrain and United Arab Emirates for the three-month period ended September 30, 2025 and to exploration expense in the Kingdom of Bahrain and United Arab Emirates and impairment in Canada for the nine-month period ended September 30, 2025.

(3) Includes oil and gas properties from the Encino Acquisition Partners, LLC (Encino) acquisition of $6,633 million.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

EOG RESOURCES INC 10-Q