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EOG Resources, Inc. Announces Increase in Share Repurchase Authorization And Normal Dividend Declaration

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FOR IMMEDIATE RELEASE: Tuesday, February 08, 2000

HOUSTON – The Board of Directors of EOG Resources, Inc. today adopted a resolution authorizing the company to repurchase up to ten million shares replacing the previous authorization that had approximately four million shares remaining. The Board has encouraged the company to repurchase shares at the current stock price.

The Board of Directors has also declared its regular quarterly dividend of $.03 per share on the common stock of the company, payable April 28, 2000, to shareholders of record as of April 14, 2000. The indicated annual rate is $.12.

EOG Resources, Inc., formerly Enron Oil & Gas Company, is among the largest independent (non-integrated) oil and gas companies in the United States, with operations and substantial reserves in the U.S., Canada and Trinidad. EOG common stock is listed on the New York Stock Exchange and is traded under the ticker symbol, “EOG.”

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