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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2011

Notes To Financial Statements [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

Stock-based compensation expense is included on the Consolidated Statements of Income and Comprehensive Income based upon job functions of the employees receiving the grants. Compensation expense related to EOG's stock-based compensation plans for the years ended December 31, 2011, 2010 and 2009 was as follows (in millions):

	2011		2010		2009

Lease and Well	$	33	$	27	$	23
Gathering and Processing Costs		1		1		-
Exploration Costs		26		24		21
General and Administrative		68		55		51
Total	$	128	$	107	$	95

Weighted Average Fair Values and Valuation Assumptions

Weighted average fair values and valuation assumptions used to value stock option, SAR and ESPP grants for the years ended December 31, 2011, 2010 and 2009 were as follows:

	Stock Options/SARs									ESPP
	2011			2010			2009			2011			2010			2009

Weighted Average Fair Value of Grants	$	29.92		$	32.12		$	30.13		$	22.75		$	25.45		$	25.78
Expected Volatility		40.96	%		39.70	%		41.90	%		29.82	%		38.30	%		78.89	%
Risk-Free Interest Rate		0.58	%		0.87	%		1.42	%		0.14	%		0.18	%		0.25	%
Dividend Yield		0.70	%		0.70	%		0.70	%		0.70	%		0.70	%		1.00	%
Expected Life	5.6 yrs			5.5 yrs			5.5 yrs			0.5 yrs			0.5 yrs			0.5 yrs

Schedule of Share Based Compensation Arrangement By Share Based Payment Award

The following table sets forth the stock option and SAR transactions for the years ended December 31, 2011, 2010 and 2009 (stock options and SARs in thousands):

	2011					2010					2009
	Number			Weighted		Number			Weighted		Number			Weighted
	of Stock			Average		of Stock			Average		Of Stock			Average
	Options/			Grant		Options/			Grant		Options/			Grant
	SARs			Price		SARs			Price		SARs			Price

Outstanding at January 1		8,445		$	64.49		8,335		$	57.08		7,802		$	52.56
Granted		1,509			85.29		1,450			93.07		1,270			80.95
Exercised (1)		(1,399	)		50.86		(1,144	)		43.38		(636	)		46.56
Forfeited		(181	)		87.74		(196	)		84.22		(101	)		74.07
Outstanding at December 31		8,374			70.01		8,445			64.49		8,335			57.08

Stock Options/SARs Exercisable at December 31		5,148			59.19		5,439			51.71		5,394			44.45

(1)

The total intrinsic value of stock options/SARs exercised during the years 2011, 2010 and 2009 was $78.4 million, $66.0 million and $21.4 million, respectively. The intrinsic value is based upon the difference between the market price of Common Stock on the date of exercise and the grant price of the stock options/SARs.

Stock Options and SARs Outstanding and Exercisable

The following table summarizes certain information for the stock options and SARs outstanding at December 31, 2011 (stock options and SARs in thousands):

		Stock Options/SARs Outstanding							Stock Options/SARs Exercisable
				Weighted							Weighted
				Average		Weighted					Average		Weighted
Range of		Stock		Remaining		Average		Aggregate	Stock		Remaining		Average		Aggregate
Grant		Options/		Life		Grant		Intrinsic	Options/		Life		Grant		Intrinsic
Prices		SARs		(Years)		Price		Value(1)	SARs		(Years)		Price		Value(1)

$	16.00 to $ 48.99		1,431		1	$	20.30			1,431		1	$	20.30
49.00 to 69.99			1,623		1		61.99			1,609		1		61.94
70.00 to 81.99			1,674		4		78.17			1,159		4		76.66
82.00 to 88.99			2,174		6		85.44			576		4		88.73
89.00 to 136.99			1,472		5		95.09			373		5		96.56
			8,374		4		70.01	$241,474		5,148		2		59.19	$203,646

(1)	Based upon the difference between the closing market price of Common Stock on the last trading day of the year and the grant price of in-the-money stock options and SARs.

ESPP Activity

The following table summarizes ESPP activities for the years ended December 31, 2011, 2010 and 2009 (in thousands, except number of participants):

	2011		2010		2009

Approximate Number of Participants		1,525		1,236		1,128
Shares Purchased		135		114		72
Aggregate Purchase Price	$	10,947	$	9,172	$	4,150

Restricted Stock and Restricted Stock Unit Transactions

The following table sets forth the restricted stock and restricted stock unit transactions for the years ended December 31, 2011, 2010 and 2009 (shares and units in thousands):

	2011					2010					2009
				Weighted					Weighted					Weighted
	Number of			Average		Number of			Average		Number of			Average
	Shares and			Grant Date		Shares and			Grant Date		Shares and			Grant Date
	Units			Fair Value		Units			Fair Value		Units			Fair Value

Outstanding at January 1		4,009		$	79.13		3,636		$	73.69		3,048		$	70.24
Granted		932			90.87		850			93.39		1,197			63.13
Released (1)		(457	)		66.10		(364	)		58.00		(553	)		31.35
Forfeited		(244	)		82.45		(113	)		79.37		(56	)		78.18
Outstanding at December 31(2)		4,240			82.93		4,009			79.13		3,636			73.69

(1)

The total intrinsic value of restricted stock and restricted stock units released during the years ended December 31, 2011, 2010 and 2009 was $44.4 million, $35.2 million and $36.9 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date restricted stock and restricted stock units are released.

(2)	The aggregate intrinsic value of restricted stock and restricted stock units outstanding at December 31, 2011 and 2010 was approximately $417.7 million and $366.4 million, respectively.

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

+ References+ Details

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References+ Details

- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References+ Details