Commitments and Contingencies

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Letters of Credit and Guarantees. At December 31, 2015 and 2014, respectively, EOG had standby letters of credit and guarantees outstanding totaling approximately $272 million and $423 million, primarily representing guarantees of payment or performance obligations on behalf of subsidiaries. As of February 25, 2016, there were no demands for payment under these guarantees.

Minimum Commitments. At December 31, 2015, total minimum commitments from long-term non-cancelable operating leases, drilling rig commitments, seismic purchase obligations, fracturing services obligations, other purchase obligations and transportation and storage service commitments, based on current transportation and storage rates and the foreign currency exchange rates used to convert Canadian dollars and British pounds into United States dollars at December 31, 2015, were as follows (in thousands):



	Total Minimum Commitments

2016	$	1,275,650
2017	994,328
2018	781,299
2019	547,299
2020	431,221
2021 and beyond	900,961
	$	4,930,758

Included in the table above are leases for buildings, facilities and equipment with varying expiration dates through 2042. Rental expenses associated with existing leases amounted to $229 million, $237 million and $191 million for 2015, 2014 and 2013, respectively.

Contingencies. There are currently various suits and claims pending against EOG that have arisen in the ordinary course of EOG's business, including contract disputes, personal injury and property damage claims and title disputes. While the ultimate outcome and impact on EOG cannot be predicted, management believes that the resolution of these suits and claims will not, individually or in the aggregate, have a material adverse effect on EOG's consolidated financial position, results of operations or cash flow. EOG records reserves for contingencies when information available indicates that a loss is probable and the amount of the loss can be reasonably estimated.