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Commitments and Contingencies | 12 Months Ended
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Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Commitments and ContingenciesLetters of Credit and Guarantees. At December 31, 2022 and 2021, respectively, EOG had standby letters of credit and guarantees outstanding totaling approximately $776 million and $831 million, primarily representing guarantees of payment or performance obligations on behalf of subsidiaries. As of February 16, 2023, EOG had received no demands for payment under these guarantees. Minimum Commitments. At December 31, 2022, total minimum commitments from purchase and service obligations and transportation and storage service commitments not qualifying as leases, 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, 2022, were as follows (in millions):
| Total Minimum Commitments
2023 | $ | 1,362 |
2024 | 1,149 |
2025 | 984 |
2026 | 791 |
2027 | 642 |
2028 and beyond | 1,570 |
| $ | 6,498 |
Delivery Commitments. EOG sells crude oil and natural gas from its producing operations under a variety of contractual arrangements. At December 31, 2022, EOG was committed to deliver to multiple parties fixed quantities of crude oil of 7 million barrels (MMBbls) in 2023, 7 MMBbls in 2024 and 1 MMBbls in 2025. Additionally at December 31, 2022, EOG was committed to deliver to multiple parties fixed quantities of natural gas of 347 billion cubic feet (Bcf) in 2023, 321 Bcf in 2024, 277 Bcf in 2025, 297 Bcf in 2026, 293 Bcf in 2027 and 3,540 Bcf thereafter. All delivery commitments are expected to be sourced from future production of available reserves. 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.

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