Commitments and Contingencies

Letters of Credit and Guarantees. At December 31, 2018 and 2017, respectively, EOG had standby letters of credit and guarantees outstanding totaling $294 million and $174 million, primarily representing guarantees of payment or performance obligations on behalf of subsidiaries. As of February 19, 2019, EOG had received no demands for payment under these guarantees.

Minimum Commitments. At December 31, 2018, 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 into United States dollars at December 31, 2018, were as follows (in thousands):



	Total Minimum Commitments

2019	$	2,150,978
2020	1,416,968
2021	996,344
2022	803,240
2023	509,373
2024 and beyond	931,142
	$	6,808,045

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 $233 million, $200 million, and $204 million for 2018, 2017 and 2016, 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.