I. Estimated Realizations

Presented below are EOG's estimated natural gas, crude oil and condensate and natural gas liquids price realizations for the three months ended March 31, 2009, excluding the impact of EOG's financial collar, price swap and basis swap contracts.

                                                             Three Months
                                                            Ended March 31,
                                                                 2009
      Estimated Wellhead Prices
      Average Natural Gas Prices ($/Mcf) (A)
           United States                                  $      4.06
           Canada                                                4.43
           Trinidad                                              1.32
           Other International (B)                               6.03

      Average Crude Oil and Condensate Prices ($/Bbl) (A)
           United States                                  $      33.24
           Canada                                                37.11
           Trinidad                                              33.45
           Other International (B)                               46.71

      Average Natural Gas Liquids Prices ($/Bbl) (A)
           United States                                  $      22.12
           Canada                                                25.52

(A) Dollars per thousand cubic feet or per barrel, as applicable. (B) Other International includes EOG's United Kingdom operations and, effective July 1, 2008, EOG's China operations.

II. Forward-Looking Statements

This document includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, including, among others, statements and projections regarding EOG's future financial position, operations, performance, business strategy, budgets, reserve information, levels of production and costs and statements regarding the plans and objectives of EOG's management for future operations, are forward-looking statements. EOG typically uses words such as "expect," "anticipate," "estimate," "project," "strategy," "intend," "plan," "target," "goal," "may," "will" and "believe" or the negative of those terms or other variations or comparable terminology to identify its forward-looking statements. In particular, statements, express or implied, concerning EOG's future operating results and returns or EOG's ability to replace or increase reserves, increase production or generate income or cash flows are forward-looking statements. Forward-looking statements are not guarantees of performance. Although EOG believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions, no assurance can be given that these assumptions are accurate or that these expectations will be achieved or will prove to have been correct. Moreover, EOG's forward-looking statements may be affected by known and unknown risks, events or circumstances that may be outside EOG's control. Important factors that could cause EOG's actual results to differ materially from the expectations reflected in EOG's forward-looking statements include, among others:

º the timing and extent of changes in prices for natural gas, crude oil and related commodities;

º changes in demand for natural gas, crude oil and related commodities, including ammonia and methanol;

º the extent to which EOG is successful in its efforts to discover, develop, market and produce reserves and to acquire natural gas and crude oil properties;

º the extent to which EOG can optimize reserve recovery and economically develop its plays utilizing horizontal and vertical drilling and advanced completion technologies;

º the extent to which EOG is successful in its efforts to economically develop its acreage in the Barnett Shale, the Bakken Formation, its Horn River Basin and Haynesville plays and its other exploration and development areas;

º EOG's ability to achieve anticipated production levels from existing and future natural gas and crude oil development projects, given the risks and uncertainties inherent in drilling, completing and operating natural gas and crude oil wells and the potential for interruptions of production, whether involuntary or intentional as a result of market or other conditions;

º the availability, proximity and capacity of, and costs associated with, gathering, processing, compression and transportation facilities;

º the availability, cost, terms and timing of issuance or execution of, and competition for, mineral licenses and leases and governmental and other permits and rights of way;

º competition in the oil and gas exploration and production industry for employees and other personnel, equipment, materials and services and, related thereto, the availability and cost of employees and other personnel, equipment, materials and services;

º EOG's ability to obtain access to surface locations for drilling and production facilities;

º the extent to which EOG's third party-operated natural gas and crude oil properties are operated successfully and economically;

º EOG's ability to effectively integrate acquired natural gas and crude oil properties into its operations, fully identify existing and potential problems with respect to such properties and accurately estimate reserves, production and costs with respect to such properties;

º weather, including its impact on natural gas and crude oil demand, and weather-related delays in drilling and in the installation and operation of gathering and production facilities;

º the ability of EOG's customers and other contractual counterparties to satisfy their obligations to EOG and, related thereto, to access the credit and capital markets to obtain financing needed to satisfy their obligations to EOG;

º EOG's ability to access the commercial paper market and other credit and capital markets to obtain financing on terms it deems acceptable, if at all;

º the accuracy of reserve estimates, which by their nature involve the exercise of professional judgment and may therefore be imprecise;

º the timing and extent of changes in foreign currency exchange rates, interest rates, inflation rates, global and domestic financial market conditions and global and domestic general economic conditions;

º the extent and effect of any hedging activities engaged in by EOG;

º the timing and impact of liquefied natural gas imports;

º the use of competing energy sources and the development of alternative energy sources;

º political developments around the world, including in the areas in which EOG operates;

º changes in government policies, legislation and regulations, including environmental regulations;

º the extent to which EOG incurs uninsured losses and liabilities;

º acts of war and terrorism and responses to these acts; and

º the other factors described under Item 1A, "Risk Factors," on pages 13 through 19 of EOG's Annual Report on Form 10-K for the year ended December 31, 2008 and any updates to those factors set forth in EOG's subsequent Quarterly Reports on Form 10-Q.

In light of these risks, uncertainties and assumptions, the events anticipated by EOG's forward-looking statements may not occur, and you should not place any undue reliance on any of EOG's forward-looking statements. EOG's forward-looking statements speak only as of the date made and EOG undertakes no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.