Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2012

Stock-Based Compensation [Abstract]

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

Stock-based compensation expense is included in the Consolidated Statements of Income and Comprehensive Income based upon job functions of the employees receiving the grants as follows (in millions):

	Three Months Ended
	March 31,
	2012		2011
Lease and Well	$	8.5	$	7.7
Gathering and Processing Costs		0.2		0.2
Exploration Costs		6.6		6.1
General and Administrative		13.0		13.4
Total	$	28.3	$	27.4

Weighted Average Fair Values and Valuation Assumptions

Weighted average fair values and valuation assumptions used to value stock option, SAR and ESPP grants during the three-month periods ended March 31, 2012 and 2011 are as follows:

	Stock Options/SARs						ESPP
	Three Months Ended						Three Months Ended
	March 31,						March 31,
	2012			2011			2012			2011
Weighted Average Fair Value of Grants	$	37.97		$	34.20		$	28.24		$	21.55
Expected Volatility		41.11	%		36.77	%		46.42	%		30.26	%
Risk-Free Interest Rate		0.49	%		1.18	%		0.06	%		0.18	%
Dividend Yield		0.6	%		0.6	%		0.6	%		0.6	%
Expected Life	5.6 yrs.			5.5 yrs.			0.5 yrs.			0.5 yrs.

Stock Options and SARs Transactions

The following table sets forth stock option and SAR transactions for the three-month periods ended March 31, 2012 and 2011 (stock options and SARs in thousands):

	Three Months Ended					Three Months Ended
	March 31, 2012					March 31, 2011
				Weighted					Weighted
	Number of			Average		Number of			Average
	Stock			Grant		Stock			Grant
	Options/SARs			Price		Options/SARs			Price
Outstanding at January 1		8,374		$	70.01		8,445		$	64.49
Granted		20			107.99		16			101.30
Exercised (1)		(656	)		63.99		(857	)		50.15
Forfeited		(36	)		87.99		(49	)		86.73
Outstanding at March 31 (2)		7,702		$	70.54		7,555		$	66.05
Vested or Expected to Vest (3)		7,456		$	69.98		7,323		$	65.36
Exercisable at March 31 (4)		4,594		$	59.20		4,601		$	52.12

(1) The total intrinsic value of stock options/SARs exercised for the three months ended March 31, 2012 and 2011 was $32.4 million and $51.1 million, respectively.  The intrinsic value is based upon the difference between the market price of EOG's common stock on the date of exercise and the grant price of the stock options/SARs.

(2) The total intrinsic value of stock options/SARs outstanding at March 31, 2012 and 2011 was $313.3 million and $396.8 million, respectively.  At March 31, 2012 and 2011, the weighted average remaining contractual life was 3.5 years and 3.8 years, respectively.

(3) The total intrinsic value of stock options/SARs vested or expected to vest at March 31, 2012 and 2011 was $307.5 million and $389.6 million, respectively.  At March 31, 2012 and 2011, the weighted average remaining contractual life was 3.5 years and 3.7 years, respectively.

(4) The total intrinsic value of stock options/SARs exercisable at March 31, 2012 and 2011 was $239.1 million and $305.8 million, respectively.  At March 31, 2012 and 2011, the weighted average remaining contractual life was 2.2 years and 2.6 years, respectively.

Restricted Stock and Restricted Stock Unit Transactions

The following table sets forth the restricted stock and restricted stock unit transactions for the three-month periods ended March 31, 2012 and 2011 (shares and units in thousands):

	Three Months Ended					Three Months Ended
	March 31, 2012					March 31, 2011
				Weighted					Weighted
	Number of			Average		Number of			Average
	Shares and			Grant Date		Shares and			Grant Date
	Units			Fair Value		Units			Fair Value
Outstanding at January 1		4,240		$	82.93		4,009		$	79.13
Granted		271			112.53		266			105.65
Released (1)		(466	)		70.13		(182	)		67.27
Forfeited		(36	)		88.18		(48	)		78.30
Outstanding at March 31 (2)		4,009		$	86.36		4,045		$	81.42

(1) The total intrinsic value of restricted stock and restricted stock units released for the three months ended March 31, 2012 and 2011 was $53.1 million and $19.3 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 total intrinsic value of restricted stock and restricted stock units outstanding at March 31, 2012 and 2011 was $445.4 million and $479.4 million, respectively.