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Long-Term Debt (Notes)
3 Months Ended
Mar. 31, 2018
Debt Disclosure [Abstract]  
Long-Term Debt
Long-Term Debt

During the three months ended March 31, 2018, EOG utilized commercial paper borrowings, bearing market interest rates, for various corporate financing purposes. EOG did not utilize any such borrowings during the three months ended March 31, 2017. At March 31, 2018 and December 31, 2017, EOG had no outstanding commercial paper borrowings or uncommitted credit facility borrowings. The average borrowings outstanding under the commercial paper program were $18 million and zero during the three months ended March 31, 2018 and March 31, 2017, respectively. The weighted average interest rate for commercial paper borrowings during the three months ended March 31, 2018, was 1.76%.

EOG currently has a $2.0 billion senior unsecured Revolving Credit Agreement (Agreement) with domestic and foreign lenders. The Agreement has a scheduled maturity date of July 21, 2020, and includes an option for EOG to extend, on up to two occasions, the term for successive one-year periods subject to certain terms and conditions. Advances under the Agreement will accrue interest based, at EOG's option, on either the London InterBank Offered Rate plus an applicable margin (Eurodollar rate) or the base rate (as defined in the Agreement) plus an applicable margin. At March 31, 2018 and December 31, 2017, there were no borrowings or letters of credit outstanding under the Agreement. The Eurodollar rate and applicable base rate, had there been any amounts borrowed under the Agreement at March 31, 2018, would have been 2.88% and 4.75%, respectively.