UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: January 6, 2005
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EOG RESOURCES, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-9743 47-0684736
(State or other (Commission (I.R.S. Employer
jurisdiction File Identification No.)
of incorporation or Number)
organization)
333 Clay
Suite 4200 77002
Houston, Texas (Zip code)
(Address of principal
executive offices)
713/651-7000
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions.
[ ] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
EOG RESOURCES, INC.
Item 7.01 Regulation FD Disclosure.
I. 2004 Fourth Quarter Financial Commodity Contracts
For the fourth quarter of 2004, EOG anticipates a gain of
$2.8 million on mark-to-market financial commodity collar and
price swap contracts compared to a loss of $43.1 million for
the prior year period. During the fourth quarter of 2004, the
net cash outflow related to settled natural gas financial
collar contracts, premium payments associated with certain
natural gas financial collar contracts and settled natural gas
financial price swap contracts was $12.7 million compared to a
net cash inflow related to settled natural gas financial
collar contracts, premium payments associated with certain
natural gas financial collar contracts and settled natural gas
and crude oil financial price swap contracts of $1.2 million
for the prior year period.
II. 2005 Natural Gas Financial Collar Contracts and Natural
Gas and Crude Oil Financial Price Swap Contracts
With the objective of enhancing the certainty of future
revenues, from time to time EOG enters into New York Mercantile
Exchange related financial commodity collar and price swap
contracts. In addition to these financial transactions, EOG is a
party to various physical commodity contracts for the sale of
hydrocarbons that cover varying periods of time and have varying
pricing provisions. The financial impact of these various
physical commodity contracts is included in revenues at the time
of settlement, which in turn affects average realized hydrocarbon
prices.
EOG has not entered into any additional natural gas
financial collar contracts or natural gas or crude oil financial
price swap contracts since EOG filed its Quarterly Report on Form
10-Q on October 28, 2004, which provided an update of all such
financial contracts as of that date. EOG accounts for these
collar and price swap contracts using the mark-to-market
accounting method.
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III. Forward-Looking Statements
This document includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Forward-looking
statements are not guarantees of performance. Although EOG
believes its expectations reflected in forward-looking statements
are based on reasonable assumptions, no assurance can be given
that these expectations will be achieved. Important factors that
could cause actual results to differ materially from the
expectations reflected in the forward-looking statements include,
among others: the timing and extent of changes in commodity
prices for crude oil, natural gas and related products, foreign
currency exchange rates and interest rates; the timing and impact
of liquefied natural gas imports and changes in demand or prices
for ammonia or methanol; the extent and effect of any hedging
activities engaged in by EOG; the extent of EOG's success in
discovering, developing, marketing and producing reserves and in
acquiring oil and gas properties; the accuracy of reserve
estimates, which by their nature involve the exercise of
professional judgment and may therefore be imprecise; the
availability and cost of drilling rigs, experienced drilling
crews and tubular steel; the availability of pipeline
transportation capacity; the extent to which EOG can replicate on
its other Barnett Shale acreage the results of its most recent
Barnett Shale wells; the results of wells yet to be drilled that
are necessary to test whether substantial Barnett Shale acreage
positions in Erath, Somervell, Hood, Jack, Palo Pinto and Hill
Counties, Texas, contain suitable drilling prospects; whether EOG
is successful in its efforts to more densely develop its acreage
in the Barnett Shale and other production areas; political
developments around the world; acts of war and terrorism and
responses to these acts; and financial market conditions. In
light of these risks, uncertainties and assumptions, the events
anticipated by EOG's forward-looking statements might not occur.
EOG undertakes no obligations to update or revise its forward-
looking statements, whether as a result of new information,
future events or otherwise.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
EOG RESOURCES, INC.
(Registrant)
Date: January 6, 2005 By: /s/TIMOTHY K. DRIGGERS
Timothy K. Driggers
Vice President and Chief
Accounting Officer
(Principal Accounting Officer)
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