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Share Based Compensation (Tables)
12 Months Ended
Dec. 31, 2015
Share Based Compensation Tables [Abstract]  
Valuation and Expense Information
Valuation and Expense Information
Year Ended December 31,
201520142013
Total cost of share-based payment plans$6,137$8,640$13,957
Amounts capitalized in oil and gas properties and equipment$2,009$3,173$4,190
Amounts charged against income, before
income tax benefit$4,128$5,467$9,767
Amount of related income tax benefit recognized
in income before valuation allowances$1,645$2,285$4,083
Securities Authorized for Issuance Under Equity Compensation Plans
Number of Securities
Remaining Available
Number offor Future Issuance
Securities toWeightedUnder Equity
be IssuedAverageCompensation Plans
Upon Exercise ofExercise Price of(Excluding Securities
OutstandingOutstandingReflected in the
Plan CategoryOptionsOptionsFirst Column)
Equity compensation plans approved by(000's)(000's)
security holders519$58.984,555
Equity compensation plans not approved
by security holdersn/an/an/a
Total519$58.984,555
Changes in Stock Options Outstanding
Weighted
Average
Number ofExercise Price
Options(US$)
(000's)
Balance, December 31, 20121,357$16.97to$98.87
Forfeited(110)$25.68to$75.18
Exercised(1)$16.97to$16.97
Balance, December 31, 20131,246$16.97to$98.87
Forfeited(513)$33.57to$75.18
Exercised(43)$16.97to$25.68
Balance, December 31, 2014690$25.68to$98.87
Forfeited(171)$25.68to$75.18
Balance, December 31, 2015519$49.05to$98.87
Share Based Compensation by Exercise Price Table
The following table summarizes information about the stock options outstanding and exercisable at December 31, 2015:
Options Outstanding and Exercisable
WeightedWeighted
AverageAverageAggregate
NumberRemainingExerciseIntrinsic
Range of Exercise PriceOutstandingContractual LifePriceValue
(000's)(Years)
$50.15-$63.05103 0.60 $55.37 $-
$49.05-$62.23268 1.29 $53.96 $-
$51.60-$98.87148 2.45 $70.61 $-
Weighted Average Grant Date Fair Value of Stock Options
201520142013
Options forfeited during the year$28.00$24.40$25.44
Valuation Assumptions
Valuation Assumptions
The Company estimates the fair value of the market condition related to the LTIP awards on the date of grant using a Monte Carlo simulation with the following assumptions:
2015 LTIP2014 LTIP2013 LTIP
Volatility of common stock40.1%39.0%39.2%
Average volatility of peer companies46.5%n/an/a
Average correlation coefficient of peer companies0.454n/an/a
Risk-free interest rate1.02%0.66%0.40%