| EOG RESOURCES, INC. |
| Quantitative Reconciliation of Total Exploration and Development Expenditures for Drilling Only (Non-GAAP) |
| and Total Exploration and Development Expenditures, Net of Proceeds from Sales in Place (Non-GAAP) |
| as Used In the Calculation of
Reserve Replacement Costs ($ / Mcfe) |
| to Total Costs Incurred in Exploration and Development Activities (GAAP) |
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(Unaudited; In Millions, Except Ratio Information) |
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| The following chart reconciles Total Costs Incurred in Exploration and Development Activities (GAAP) to Total Exploration and Development Expenditures for Drilling Only (Non-GAAP) and Total Exploration and Development Expenditures, Net of Proceeds from Sales in Place (Non-GAAP) as used in the calculation of
Reserve Replacement Costs per Mcfe. There are numerous ways that industry participants present
Reserve Replacement Costs, including "Drilling Only" and "All-In," which reflect total exploration and development expenditures divided by total net reserve additions from extensions and discoveries only, or from all sources. Combined with Reserve Replacement, these statistics provide management and investors with an indication of the results of the current year capital investment program. |
| Reserve
Replacement Cost statistics are widely recognized and reported by industry
participants and are used by EOG management and other third parties for
comparative purposes within the industry. Please note that the actual cost of
adding reserves will vary from the reported statistics due to timing differences
in reserve bookings and capital expenditures. Accordingly, some analysts use
three or five year averages of reported statistics, while others prefer to
estimate future costs. EOG has not included future capital costs to develop
proved undeveloped reserves in Total Exploration and Development Expenditures. |
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