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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of stock-based compensation recorded, remaining unamortized amounts and weighted average amortization period
The table below sets forth stock-based compensation related to Forest’s continuing operations for the years ended December 31, 2013, 2012, and 2011, and the remaining unamortized amounts and weighted average amortization period as of December 31, 2013.
 
Stock
Options
 
Restricted
Stock
 
Performance
Units
 
Phantom Stock
Units
 
Total(1)(2)
 
(In Thousands)
Year ended December 31, 2013:
 
 
 
 
 
 
 
 
 
Total stock-based compensation costs
$
—

 
$
12,149

 
$
2,288

 
$
3,946

 
$
18,383

Less: stock-based compensation costs capitalized
—

 
(5,355
)
 
(431
)
 
(2,022
)
 
(7,808
)
Stock-based compensation costs expensed
$
—

 
$
6,794

 
$
1,857

 
$
1,924

 
$
10,575

Unamortized stock-based compensation costs as of December 31, 2013(3)
$
—

 
$
9,611

 
$
3,517

 
$
4,662

 
$
17,790

Weighted average amortization period remaining as of December 31, 2013
—

 
1.5 years

 
1.9 years

 
1.8 years

 
1.6 years

Year ended December 31, 2012:
 
 
 
 
 
 
 
 
 
Total stock-based compensation costs
$
—

 
$
14,621

 
$
6,838

 
$
859

 
$
22,318

Less: stock-based compensation costs capitalized
—

 
(5,219
)
 
(1,565
)
 
(569
)
 
(7,353
)
Stock-based compensation costs expensed
$
—

 
$
9,402

 
$
5,273

 
$
290

 
$
14,965

Year ended December 31, 2011:
 
 
 
 
 
 
 
 
 
Total stock-based compensation costs
$
1,536

 
$
30,234

 
$
3,178

 
$
156

 
$
35,104

Less: stock-based compensation costs capitalized
(663
)
 
(13,113
)
 
(957
)
 
(134
)
 
(14,867
)
Stock-based compensation costs expensed
$
873

 
$
17,121

 
$
2,221

 
$
22

 
$
20,237

____________________________________________
(1)
The Company also maintains an employee stock purchase plan (which is not included in the table) under which $.2 million, $.4 million, and $.5 million of compensation costs were recognized for the years ended December 31, 2013, 2012, and 2011, respectively.
(2)
In connection with the 2013 divestitures of the South Texas and Texas Panhandle oil and natural gas properties, Forest incurred $4.9 million ($2.1 million net of capitalized amounts) in stock-based compensation costs due to accelerated vesting of involuntarily terminated employees’ awards. See Note 2 for more information regarding these divestitures.
(3)
The unamortized stock-based compensation costs for liability-based awards are based on the closing price of Forest’s common stock at the reporting period end.
Stock option activity in the entity's stock based compensation plans
The following table summarizes stock option activity in the Stock-based Compensation Plans for the years ended December 31, 2013, 2012, and 2011.
 
Number of
Options
 
Weighted
Average
Exercise
Price
 
Aggregate
Intrinsic
Value
(In Thousands)(1)
 
Number of
Options
Exercisable
Outstanding at January 1, 2011
1,327,695

 
$
21.67

 
$
22,531

 
1,283,232

Granted
—

 
—

 
 

 
 

Exercised
(29,711
)
 
18.55

 
331

 
 

Cancelled
(13,273
)
 
25.11

 
 

 
 

Spin-off adjustment(2)
673,189

 
 
 
 
 
 
Outstanding at September 30, 2011
1,957,900

 
14.29

 
187

 
1,957,900

Granted
—

 
—

 
 
 
 
Exercised
(161,834
)
 
11.32

 
634

 
 
Cancelled
(29,479
)
 
14.86

 
 
 
 
Outstanding at December 31, 2011
1,766,587

 
14.55

 
2,731

 
1,766,587

Granted
—

 
—

 
 

 
 

Exercised
—

 
—

 
—

 
 

Cancelled
(895,771
)
 
11.33

 
 

 
 

Outstanding at December 31, 2012
870,816

 
17.86

 
—

 
870,816

Granted
—

 
—

 
 
 
 
Exercised
—

 
—

 
—

 
 
Cancelled
(239,610
)
 
19.55

 
 
 
 
Outstanding at December 31, 2013
631,206

 
$
17.21

 
$
—

 
631,206

____________________________________________
(1)
The intrinsic value of a stock option is the amount by which the market value of the underlying stock, as of the date outstanding or exercised, exceeds the exercise price of the option.
(2)
In conjunction with the spin-off of Lone Pine, both the number of options outstanding and the option exercise prices were adjusted in accordance with antidilution provisions provided in the Stock-based Compensation Plans.
Schedule of stock option by exercise price range
The following table summarizes information about options outstanding at December 31, 2013:
 
 
Stock Options Outstanding and Exercisable
Range of Exercise Prices
 
Number of Options
 
Weighted Average Remaining Contractual Life (Years)
 
Weighted Average Exercise Price
 
Aggregate Intrinsic Value (In Thousands)
$11.02 - 12.20
 
131,223

 
0.18
 
$
11.12

 
$
—

12.21 - 13.47
 
27,383

 
0.30
 
12.80

 
—

13.48 - 13.68
 
205,508

 
0.76
 
13.56

 
—

13.69 - 24.30
 
128,565

 
2.02
 
19.54

 
—

24.31 - 27.90
 
138,527

 
2.76
 
27.11

 
—

$11.02 - 27.90
 
631,206

 
1.31
 
$
17.21

 
$
—
Summary of restricted stock, performance units, and phantom stock units activity
The following table summarizes the restricted stock, performance unit, and phantom stock unit activity in the Stock-based Compensation Plans for the years ended December 31, 2013, 2012, and 2011.
 
Restricted Stock
 
Performance Units
 
Phantom Stock Units
 
Number of
Shares
 
Weighted
Average
Grant
Date
Fair
Value
 
Vest Date
Fair Value
(In
Thousands)
 
Number of
Units
 
Weighted
Average
Grant
Date
Fair
Value
 
Vest Date
Fair Value
(In
Thousands)
 
Number of
Units
 
Weighted
Average
Grant
Date
Fair
Value
 
Vest Date
Fair Value
(In
Thousands)
Unvested at January 1, 2011
2,272,321

 
$
32.71

 
 

 
264,500

 
$
31.63

 
 

 
510,609

 
$
24.79

 
 

Awarded
1,025,782

 
27.30

 
 

 
226,000

 
27.53

 
 

 
500

 
28.24

 
 

Vested
(610,681
)
 
61.33

 
$
18,416

 
—

 
—

 
$
—

 
(52,587
)
 
60.04

 
$
1,449

Forfeited
(131,330
)
 
23.51

 
 

 
(41,000
)
 
29.98

 
 

 
(25,737
)
 
19.12

 
 

Spin-off adjustment(1)
—

 
 
 
 
 
233,740

 
 
 
 
 
225,004

 
 
 
 
Vested due to spin-off(2)
—

 
 
 
 
 
(19,000
)
 
20.81

 
—

 
(342,765
)
 
15.15

 
3,246

Unvested at September 30, 2011
2,556,092

 
24.18

 
 

 
664,240

 
19.52

 
 

 
315,024

 
12.15

 
 

Awarded
25,700

 
15.19

 
 

 
—

 
—

 
 

 
941,300

 
15.08

 
 

Vested
(48,560
)
 
28.84

 
595

 
—

 
—

 
—

 
(3,505
)
 
17.07

 
43

Forfeited
(59,120
)
 
23.93

 
 

 
(9,120
)
 
20.81

 
 

 
(14,002
)
 
16.21

 
 

Unvested at December 31, 2011
2,474,112

 
24.00

 
 

 
655,120

 
19.50

 
 

 
1,238,817

 
14.32

 
 

Awarded
1,743,757

 
9.95

 
 

 
789,500

 
13.40

 
 

 
718,500

 
6.73

 
 

Vested
(956,547
)
 
19.51

 
7,667

 
(323,760
)
 
18.18

 
—

 
(608,543
)
 
14.15

 
4,511

Forfeited
(539,685
)
 
18.65

 
 

 
(181,680
)
 
17.55

 
 

 
(187,037
)
 
13.10

 
 

Unvested at December 31, 2012
2,721,637

 
17.64

 
 

 
939,180

 
15.20

 
 

 
1,161,737

 
9.91

 
 

Awarded
2,163,877

 
6.04

 
 
 
1,182,500

 
5.47

 
 
 
1,808,701

 
6.28

 
 
Vested
(1,286,322
)
 
18.07

 
6,911

 
(203,240
)
 
19.60

 
—

 
(577,201
)
 
10.60

 
2,881

Forfeited
(808,650
)
 
11.47

 
 
 
(407,300
)
 
9.68

 
 
 
(468,418
)
 
8.03

 
 
Unvested at December 31, 2013
2,790,542

 
$
10.23

 
 
 
1,511,140

 
$
8.48

 
 
 
1,924,819

 
$
6.75

 
 
__________________________________________
(1)
In conjunction with the spin-off of Lone Pine, the number of performance units and phantom stock units outstanding was adjusted in accordance with antidilution provisions provided in the Stock-based Compensation Plans. In addition, the initial stock prices used to measure Forest’s total shareholder returns over the performance periods of the performance units were adjusted in accordance with the antidilution provisions provided in the Stock-based Compensation Plans. The number of restricted stock awards outstanding was not adjusted as a result of the spin-off since holders of restricted stock awards received Lone Pine common shares in the spin-off.
(2)
In conjunction with the spin-off of Lone Pine, Lone Pine employees were deemed to have been involuntarily terminated under the terms of their phantom stock and performance unit agreements, and, therefore, all such awards held by Lone Pine employees vested on September 30, 2011. The phantom stock awards were settled in cash by Lone Pine. No shares were deliverable under the performance unit agreement. No Forest restricted stock awards were held by Lone Pine employees at the time of the spin-off.
Schedule of assumptions used to compute the weighted average fair market value of purchase rights granted
The fair value of each stock purchase right granted under the ESPP during 2013, 2012, and 2011 was estimated using the Black-Scholes option pricing model. The following assumptions were used to compute the weighted average fair market value of purchase rights granted during the periods presented:
 
Year Ended December 31,
 
2013
 
2012
 
2011
Expected option life
3 months
 
3 months
 
3 months
Risk free interest rates
.02% - .08%
 
.02% - .10%
 
.02% - .15%
Estimated volatility
42%
 
46%
 
59%
Dividend yield
0%
 
0%
 
0%
Weighted average fair market value of purchase rights granted
$1.29
 
$2.43
 
$5.00