Spreadsheet: steven_p_south__39352__04-23-01 Earnings 2 of 2
Sheet: 1Q01

EOG RESOURCES, INC.
FINANCIAL REPORT
(Unaudited; in millions except per share)
 |  |  |  |  |  | Quarter
 |  |  |  |  |  | Ended March 31
 |  |  |  |  |  | 2001 |  |  | 2000
Net Operating Revenues |  |  |  |  |  | $ | 597.253 |  | $ | 259.896
Net Income Available to Common |  |  |  |  |  | $ | 212.526 |  | $ | 38.836
Net Income Per Share Available to Common
 | Basic |  |  |  |  | $ | 1.826086018297657 |  | $ | 0.3296010962208261
 | Diluted |  |  |  |  | $ | 1.786653697822525 |  | $ | 0.3283574466207019
Average Number of Shares Outstanding
 | Basic |  |  |  |  |  | 116.3836176666667 |  |  | 117.8271113333333
 | Diluted |  |  |  |  |  | 118.952261 |  |  | 118.27338
SUMMARY INCOME STATEMENT
(Unaudited; in thousands)
 |  |  |  |  |  | Quarter
 |  |  |  |  |  | Ended March 31
 |  |  |  |  |  | 2001 |  |  | 2000
Net Operating Revenues
 | Natural Gas |  |  |  |  | $ | 521477 |  | $ | 186200
 | Crude Oil, Condensate and Natural Gas Liquids |  |  |  |  |  | 75194 |  |  | 73067
 | Gains on Sales of Reserves and Related Assets and Other, Net |  |  |  |  |  | 582 |  |  | 629
 |  | Total |  |  |  |  | 597253 |  |  | 259896
Operating Expenses
 | Lease and Well |  |  |  |  |  | 42574 |  |  | 33739
 | Exploration |  |  |  |  |  | 20265 |  |  | 12945
 | Dry Hole |  |  |  |  |  | 15684 |  |  | 5761
 | Impairments |  |  |  |  |  | 15764 |  |  | 8402
 | Depreciation, Depletion and Amortization |  |  |  |  |  | 93961 |  |  | 84137
 | General and Administrative |  |  |  |  |  | 17949 |  |  | 16287
 | Taxes Other Than Income |  |  |  |  |  | 37032 |  |  | 18415
 |  | Total |  |  |  |  | 243229 |  |  | 179686
Operating Income |  |  |  |  |  |  | 354024 |  |  | 80210
Other Income (Expense), Net |  |  |  |  |  |  | -639 |  |  | 17
Income Before Interest Expense and Income Taxes |  |  |  |  |  |  | 353385 |  |  | 80227
Interest Expense, Net |  |  |  |  |  |  | 13289 |  |  | 14568
Income Before Income Taxes |  |  |  |  |  |  | 340096 |  |  | 65659
Income Tax Provision |  |  |  |  |  |  | 124849 |  |  | 24169
Net Income |  |  |  |  |  |  | 215247 |  |  | 41490
Preferred Stock Dividends |  |  |  |  |  |  | -2721 |  |  | -2654
Net Income Available to Common |  |  |  |  |  | $ | 212526 |  | $ | 38836
EOG RESOURCES, INC.
OPERATING HIGHLIGHTS
([NAME])
 |  |  |  |  |  | Quarter
 |  |  |  |  |  | Ended March 31
 |  |  |  |  |  | 2001 |  |  | 2000
[NAME] and Prices
Natural Gas Volumes (MMcf/d)
 | United States |  |  |  |  |  | 704.0852451111111 |  |  | 655.6271267032965
 | Canada |  |  |  |  |  | 117.0697555555556 |  |  | 132.3724615384615
 |  | North America |  |  |  |  | 821.1550006666666 |  |  | 787.9995882417583
 | Trinidad |  |  |  |  |  | 119.7153222222222 |  |  | 127.5988207692308
 |  | Total |  |  |  |  | 940.9085895555556 |  |  | 915.639441978022
Average Natural Gas Prices ($/Mcf)
 | United States |  |  |  |  | $ | 6.966828270131027 |  | $ | 2.531665988483956
 | Canada |  |  |  |  |  | 6.599141841170098 |  |  | 2.171552065791049
 |  | North America Composite |  |  |  |  | 6.914408251590551 |  |  | 2.471172090907824
 | Trinidad |  |  |  |  |  | 1.21610739700172 |  |  | 1.165795028373738
 |  | Total Composite |  |  |  |  | 6.189430825080081 |  |  | 2.289257543975703
Crude Oil/Condensate Volumes (MBD)
 | United States |  |  |  |  |  | 22.99236111111111 |  |  | 20.74376186813187
 | Canada |  |  |  |  |  | 1.736388888888889 |  |  | 2.26478021978022
 |  | North America |  |  |  |  | 24.72875 |  |  | 23.00854208791209
 | Trinidad |  |  |  |  |  | 2.159422888888889 |  |  | 2.89854010989011
 |  | Total |  |  |  |  | 26.88817288888889 |  |  | 25.9070821978022
Average Crude Oil/Condensate Prices ($/Bbl)
 | United States |  |  |  |  | $ | 28.08810485124891 |  | $ | 28.13723986598953
 | Canada |  |  |  |  |  | 25.25153735402336 |  |  | 26.83264513937747
 |  | North America Composite |  |  |  |  | 27.88892841553073 |  |  | 28.00882580479559
 | Trinidad |  |  |  |  |  | 28.83875769071222 |  |  | 27.85081743499901
 |  | Total Composite |  |  |  |  | 27.96521039593302 |  |  | 27.99114748833923
Natural Gas Liquids Volumes (MBD)
 | United States |  |  |  |  |  | 3.042587777777777 |  |  | 4.297286593406594
 | Canada |  |  |  |  |  | 0.4559444444444444 |  |  | 0.7701318681318682
 |  | Total |  |  |  |  | 3.498532222222222 |  |  | 5.067418461538461
Average Natural Gas Liquids Prices ($/Bbl)
 | United States |  |  |  |  | $ | 23.94582049855953 |  | $ | 20.63953323165234
 | Canada |  |  |  |  |  | 23.45990008529304 |  |  | 13.63832367797723
 |  | Total Composite |  |  |  |  | 23.88249316618175 |  |  | 19.57550928461135
Natural Gas Equivalent Volumes (MMcfe/d)
 | United States |  |  |  |  |  | 860.2949384444444 |  |  | 804.8734174725272
 | Canada |  |  |  |  |  | 131.2237555555556 |  |  | 150.5819340659341
 |  | North America |  |  |  |  | 990.5186940000001 |  |  | 956.4553515384616
 | Trinidad |  |  |  |  |  | 131.6718595555555 |  |  | 144.9900614285714
 |  | Total |  |  |  |  | 1123.228820222222 |  |  | 1101.486445934066
Total Bcfe Deliveries |  |  |  |  |  |  | 101.09059382 |  |  | 100.23526658
EOG RESOURCES, INC.
SUPPLEMENTAL FINANCIAL INFORMATION
DISCRETIONARY CASH FLOW AVAILABLE TO COMMON
(Unaudited; in thousands)
 |  |  |  |  |  | Quarter
 |  |  |  |  |  | Ended March 31
 |  |  |  |  |  | 2001 |  |  | 2000
Net Income Available to Common |  |  |  |  |  | $ | 212526 |  | $ | 38836
Items Not Requiring Cash
 | Depreciation, Depletion, and Amortization |  |  |  |  |  | 93961 |  |  | 84137
 | Impairments |  |  |  |  |  | 15764 |  |  | 8402
 | Deferred Income Taxes |  |  |  |  |  | 34452 |  |  | 17045
 | Other, Net |  |  |  |  |  | 5497 |  |  | 826
Exploration Expenses |  |  |  |  |  |  | 20265 |  |  | 12945
[NAME] |  |  |  |  |  |  | 15684 |  |  | 5761
Losses on Sales of Reserves and Related Assets and Other, Net |  |  |  |  |  |  | 316 |  |  | 1571
Other, Net |  |  |  |  |  |  | 2013 |  |  | -1890
 | Total Discretionary Cash Flow Available to Common |  |  |  |  | $ | 400478 |  | $ | 167633