EOG Resources Declares Quarterly Dividend on Common Stock

          EOG Resources Declares Quarterly Dividend on Common Stock

- Appoints Janet F. Clark to Board of Directors

- Increases 2014 Crude Oil and Natural Gas Hedge Position

PR Newswire

HOUSTON, Dec. 11, 2013

HOUSTON, Dec. 11, 2013 /PRNewswire/ --The Board of Directors of EOG
Resources, Inc. (NYSE: EOG) (EOG) has declared a dividend of $0.1875 per share
on EOG's Common Stock, payable January 31, 2014, to stockholders of record as
of January 17, 2014. The indicated annual rate is $0.75.

Appointment of New Board Member
EOG announced the appointment of Janet F. Clark to its Board of Directors,
effective January 1, 2014. Clark served as Executive Vice President and Chief
Financial Officer of Marathon Oil Corporation, a publicly traded oil and gas
exploration and production company, from January 2007 until her retirement in
October 2013, and as Senior Vice President and Chief Financial Officer of
Marathon Oil Corporation from January 2004 to January 2007.

"We are thrilled to have someone with Janet's industry and financial acumen
join our board," said President and Chief Executive Officer William R. "Bill"
Thomas. "She brings years of industry knowledge to EOG." 

Hedging Activity
In recent weeks, EOG increased the amount of crude oil and natural gas hedges
in place for 2014. For the first half of 2014, EOG has crude oil financial
price swap contracts in place for 138,500 barrels of oil per day (Bopd) at a
weighted average price of $96.45 per barrel, excluding unexercised options.
For the period July 1 through December 31, 2014, EOG has crude oil financial
price swap contracts in place for 58,000 Bopd at an average price of $95.18
per barrel, excluding unexercised options.

For the 2014 calendar year, EOG has natural gas financial price swap contracts
in place for 195,000 million British thermal units per day at a weighted
average price of $4.52 per million British thermal units, excluding
unexercised options. (For a comprehensive summary of crude oil and natural gas
derivative contracts, please refer to the attached tables.)

EOG Resources, Inc. is one of the largest independent (non-integrated) crude
oil and natural gas companies in the United States with proved reserves in the
United States, Canada, Trinidad, the United Kingdom and China. EOG Resources,
Inc. is listed on the New York Stock Exchange and is traded under the ticker
symbol "EOG."



EOG RESOURCES, INC.
CRUDE OIL AND NATURAL GAS FINANCIAL
COMMODITY DERIVATIVE CONTRACTS
EOG has entered into additional crude oil and natural gas derivative contracts
since filing its Quarterly Report on Form 10-Q dated November 6, 2013.
Presented below is a comprehensive summary of EOG's crude oil and natural gas
derivative contracts at December 11, 2013, with notional volumes expressed in
Bbld and MMBtud and prices expressed in $/Bbl and $/MMBtu. EOG accounts for
financial commodity derivative contracts using the mark-to-market accounting
method.
CRUDE OIL DERIVATIVE CONTRACTS
                                                                Weighted
                                                Volume         Average Price
                                                (Bbld)         ($/Bbl)
    2013^(1)
    January 2013 (closed)                       101,000         $      99.29
    February 1, 2013 through April 30, 2013     109,000         99.17
    (closed)
    May 1, 2013 through June 30, 2013 (closed)  101,000         99.29
    July 2013 (closed)                          111,000         98.25
    August 1, 2013 through November 30, 2013    126,000         98.80
    (closed)
    December 31, 2013                           126,000         98.80
    2014^(2)
    January 2014                                131,000         $      96.41
    February 1, 2014 through March 31, 2014     146,000         96.46
    April 1, 2014 through June 30, 2014         136,000         96.45
    July 1, 2014 through December 31, 2014      58,000          95.18
    EOG has entered into crude oil derivative contracts which give
    counterparties the option to extend certain current derivative contracts
    for an additional six-month period. Options covering a notional volume of
(1) 64,000 Bbld are exercisable on December 31, 2013. If the counterparties
    exercise all such options, the notional volume of EOG's existing crude oil
    derivative contracts will increase by 64,000 Bbld at an average price of
    $99.58 per barrel for each month during the period January 1, 2014 through
    June 30, 2014.
    EOG has entered into crude oil derivative contracts which give
    counterparties the option to extend certain current derivative contracts
    for additional six-month and nine-month periods. Options covering a
    notional volume of 10,000 Bbld are exercisable on or about March 31,
    2014. If the counterparties exercise all such options, the notional
    volume of EOG's existing crude oil derivative contracts will increase by
    10,000 Bbld at an average price of $96.60 per barrel for each month during
    the period April 1, 2014 through December 31, 2014. Options covering a
(2) notional volume of 118,000 Bbld are exercisable on or about June 30,
    2014. If the counterparties exercise all such options, the notional
    volume of EOG's existing crude oil derivative contracts will increase by
    118,000 Bbld at an average price of $96.64 per barrel for each month
    during the period July 1, 2014 through December 31, 2014. Options
    covering a notional volume of 63,000 Bbld are exercisable on or about
    December 31, 2014. If the counterparties exercise all such options, the
    notional volume of EOG's existing crude oil derivative contracts will
    increase by 63,000 Bbld at an average price of $95.20 per barrel for each
    month during the period January 1, 2015 through June 30, 2015.
NATURAL GAS DERIVATIVE CONTRACTS
                                                                Weighted
                                                Volume          Average Price
                                                (MMBtud)       ($/MMBtu)
    2013
    January 1, 2013 through April 30, 2013      150,000         $      4.79
    (closed)
    May 1, 2013 through October 31, 2013        200,000         4.72
    (closed)
    November 1, 2013 through December 31, 2013  150,000         4.79
    (closed)
    2014^(3)
    January 1, 2014 through December 31, 2014   195,000         $      4.52
    EOG has entered into natural gas derivative contracts which give
    counterparties the option of entering into derivative contracts at future
    dates. All such options are exercisable monthly up until the settlement
(3) date of each monthly contract. If the counterparties exercise all such
    options, the notional volume of EOG's existing natural gas derivative
    contracts will increase by 345,000 MMBtud at an average price of $4.64 per
    MMBtu for each month during the period January 1, 2014 through December
    31, 2014.
    $/Bbl               Dollars per barrel
    $/MMBtu             Dollars per million British thermal
                        units
    Bbld                Barrels per day
    MMBtu               Million British thermal units
    MMBtud              Million British thermal units per day



For Further Information Contact:  Investors
                                  Maire A. Baldwin
                                  (713) 651-6364
                                  Kimberly A. Matthews
                                  (713) 571-4676
                                  David J. Streit
                                  (713) 571-4902
                                  Media
                                  K Leonard
                                  (713) 571-3870



SOURCE EOG Resources, Inc.

Website: http://www.eogresources.com
 
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