Commitment and Contingencies

9 Months Ended

Sep. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and 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.

Unrecognized Tax Benefits. As a result of a U.S. federal appeals conference scheduled to take place in the fourth quarter of 2020, EOG anticipates that it is reasonably possible that unrecognized tax benefits (associated with certain of EOG's research and experimental expenditures) may change in the next twelve months.