Commitments and Contingencies

12 Months Ended

Dec. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

Letters of Credit and Guarantees. At December 31, 2016 and 2015, respectively, EOG had standby letters of credit and guarantees outstanding totaling approximately $226 million and $272 million, primarily representing guarantees of payment or performance obligations on behalf of subsidiaries. As of February 20, 2017, there were no demands for payment under these guarantees.

Minimum Commitments. At December 31, 2016, 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, 2016, were as follows (in thousands):



	Total Minimum Commitments

2017	$	1,201,092
2018	934,037
2019	673,452
2020	460,178
2021	334,601
2022 and beyond	674,287
	$	4,277,647

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 $204 million, $229 million and $237 million for 2016, 2015 and 2014, 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.