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EOG Resources, Inc. Declares Quarterly Dividends

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FOR IMMEDIATE RELEASE: Tuesday, February 24, 2004

HOUSTON - The Board of Directors of EOG Resources, Inc. (EOG) declared a dividend of $17.9875 per share on the Series B Preferred Stock of the company, payable March 15, 2004 to shareholders of record as of March 8, 2004.

The Board also declared a dividend of $1,710.00 per share on the Series D Preferred Stock of the company, payable March 15, 2004, to shareholders of record as of March 12, 2004.

The Board had recently announced and declared a 20 percent increase in the regular quarterly dividend to $.06 per share on the common stock of the company, payable April 30, 2004 to shareholders of record as of April 16, 2004. The indicated annual rate is $.24 per share.

EOG Resources, Inc. is one of the largest independent (non-integrated) oil and natural gas companies in the United States and is the operator of substantial proved reserves in the U.S., Canada and offshore Trinidad. EOG Resources, Inc. is listed on the New York Stock Exchange and is traded under the ticker symbol "EOG."

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