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Analysis of Inventory
Inventory Accounting Policy
Inventories, consisting primarily of tubular goods, materials for completion operations and well equipment held for use in the exploration for, and development and production of, crude oil and natural gas reserves, are carried at the lower of cost and net realizable value with adjustments made, as appropriate, to recognize any reductions in value.
Source: 10-K (filing date: 2018-02-27).
EOG Resources Inc., Statement of Financial Position, Inventory
USD $ in thousands
|Dec 31, 2017||Dec 31, 2016||Dec 31, 2015||Dec 31, 2014||Dec 31, 2013|
|Inventories||Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.||EOG Resources Inc.'s inventories declined from 2015 to 2016 but then increased from 2016 to 2017 not reaching 2015 level.|