Added a new oil play in the West Texas/New Mexico Delaware Basin (the Second Bone Spring Sand). Identified four strong rate-of-return plays in the DJ and Powder River Basins (the Codell, Niobrara, Parkman and Turner), reflecting new reserve (3) additions of 400 MMBoe. Strengthened its balance sheet with a net debt-to-total capitalization ratio (2) of 18 percent at December 31, Continued double-digit total company production growth with an increase of 17 percent. Achieved non-gaap earnings per share (2) growth of 20 percent.

Realized discretionary cash flow (2) growth of 14 percent. Grew total crude oil and condensate production 31 percent, to MBbld. The company: Reported net income of $2,915 million, up 33 percent from $2,197 million in Delivered on its returns-focused strategy, recording peer-leading ROE (2) of 16 percent and ROCE (2) of 14 percent. HIGHLIGHTS For 2014, EOG had an outstanding year, both operationally and financially. For information regarding forward-looking statements, see pages of EOG s Form 10-K included herein.

ON THE COVER The Unconventional Perspective theme for this year s annual report reflects both EOG s leadership position in developing unconventional resource plays as well as its unique ability to enhance shareholder value by delivering both high returns and longterm growth. is listed on the New York Stock Exchange and is traded under the ticker symbol EOG. 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. $ $ (1) $ (1) Cash Dividends Per Common Share Declared $ $ (1) $ (1) Diluted Average Number of Common Shares (1) (1) THE COMPANY EOG Resources, Inc.

$ $ $ Natural Gas Liquids Volumes (MBbld) Average Natural Gas Liquids Prices ($/Bbl). $ 727 $ 364 $ 686 Wellhead Statistics Crude Oil and Condensate Volumes (MBbld) Average Crude Oil and Condensate Prices ($/Bbl). $ 7,905 $ 6,997 $ 7,068 Other Property, Plant and Equipment Expenditures. $ 2,915 $ 2,197 $ 570 Total Exploration and Development Expenditures. $ 18,035 $ 14,487 $ 11,683 Income Before Interest Expense and Income Taxes. 2 LETTER TO SHAREHOLDERS Financial and Operating Highlights (In millions, except per share data, unless otherwise indicated) Net Operating Revenues.

Unforeseen Help by Sarah Baethge