EOG Resources Launches Tender Offer for Series B Preferred Stock

EOG Resources, Inc.

EOG Resources, Inc. (NYSE: EOG) has commenced a cash tender offer to purchase any and all shares of EOG's 7.195% Fixed Rate Cumulative Perpetual Senior Preferred Stock, Series B at a price of $1,074.01 per share plus accrued and unpaid dividends up to the date of purchase. The tender offer will expire at 9:00 a.m., New York City time, on November 8, 2006, unless it is extended or terminated by EOG. The terms and conditions of the tender offer are described in an Offer to Purchase dated October 11, 2006.

This press release is neither an offer to purchase nor a solicitation of an offer to sell with respect to any securities of EOG. The tender offer is being made solely by the Offer to Purchase and the related Letter of Transmittal.

EOG has retained UBS Securities LLC and Lehman Brothers Inc. to serve as dealer managers, and D.F. King & Co., to serve as information agent and depositary for the tender offer.