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Stock Compensation
 9 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Compensation
STOCK COMPENSATION

Stock Incentive Plan
Restricted Stock: The Stock Incentive Plan provides for the grant of restricted stock and restricted stock units (restricted stock awards) which have been valued based on the quoted market price of Energen’s common stock at the date of grant. Restricted stock awards vest within three years from the grant date. A summary of restricted stock award activity during the nine months ended September 30, 2018 is presented below:

 
Shares
Weighted Average Price
Nonvested at December 31, 2017
405,536

$
44.58

Restricted stock units granted
133,920

52.21

Vested
(148,041
)
56.83

Forfeited
(2,716
)
49.15

Nonvested at September 30, 2018
388,699

$
42.51



Performance Share Awards: In addition, the Stock Incentive Plan provides for the grant of performance share awards to eligible employees based on predetermined Energen performance criteria at the end of an award period. The Stock Incentive Plan provides that payment of earned performance share awards be made in the form of Energen common stock. Performance share awards are valued using the Monte Carlo model which uses historical volatility and other assumptions to estimate the probability of satisfying the market condition of the award and have a two to three-year vesting period. A summary of performance share award activity during the nine months ended September 30, 2018 is presented below:



Shares
Weighted
Average Price
Nonvested at December 31, 2017
400,037

$
55.65

Granted (three-year vesting period)
158,262

68.08

Vested and paid
(112,710
)
83.94

Forfeited
(3,129
)
60.98

Nonvested at September 30, 2018
442,460

$
52.85



Stock Repurchase Program
During the three months and nine months ended September 30, 2018, Energen had non-cash purchases of approximately $1.3 million and $8.2 million, respectively, of Energen common stock in conjunction with tax withholdings on other stock compensation and our non-qualified deferred compensation plan. Energen had non-cash purchases of Energen common stock of $0.1 million and $3.3 million during the three months and nine months September 30, 2017. Energen utilized internally generated cash flows in payment of the related tax withholdings.