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Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2012
Stock-Based Compensation [Abstract]  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs
As more fully discussed in Note 6 to the Consolidated Financial Statements included in EOG's 2011 Annual Report, EOG maintains various stock-based compensation plans.  Stock-based compensation expense is included in the Consolidated Statements of Income and Comprehensive Income based upon the job function of the employee receiving the grants as follows (in millions):

 
 
Three Months Ended
 
 
Six Months Ended
 
 
 
June 30,
 
 
June 30,
 
 
 
2012
 
 
2011
 
 
2012
 
 
2011
 
 
 
 
 
 
 
 
 
 
Lease and Well
 
$
8.0
 
 
$
7.2
 
 
$
16.5
 
 
$
14.9
 
Gathering and Processing Costs
 
 
0.3
 
 
 
0.2
 
 
 
0.5
 
 
 
0.4
 
Exploration Costs
 
 
6.3
 
 
 
5.5
 
 
 
12.9
 
 
 
11.6
 
General and Administrative
 
 
12.5
 
 
 
13.1
 
 
 
25.5
 
 
 
26.5
 
   Total
 
$
27.1
 
 
$
26.0
 
 
$
55.4
 
 
$
53.4
 
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 six-month periods ended June 30, 2012 and 2011 are as follows:

 
 
Stock Options/SARs
 
 
ESPP
 
 
 
Six Months Ended
 
 
Six Months Ended
 
 
 
June 30,
 
 
June 30,
 
 
 
2012
 
 
2011
 
 
2012
 
 
2011
 
 
 
 
 
 
 
 
 
 
Weighted Average Fair Value of Grants
 
$
35.65
 
 
$
36.57
 
 
$
28.24
 
 
$
21.55
 
Expected Volatility
 
 
39.97
%
 
 
37.13
%
 
 
46.42
%
 
 
30.26
%
Risk-Free Interest Rate
 
 
0.49
%
 
 
1.12
%
 
 
0.06
%
 
 
0.18
%
Dividend Yield
 
 
0.7
%
 
 
0.6
%
 
 
0.6
%
 
 
0.6
%
Expected Life
 
5.5 yrs
 
 
5.4 yrs
 
 
0.5 yrs
 
 
0.5 yrs
 
Stock Options and SARs Transactions
EOG RESOURCES, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
(Unaudited)

 
The following table sets forth stock option and SAR transactions for the six-month periods ended June 30, 2012 and 2011 (stock options and SARs in thousands):
 
 
 
Six Months Ended
 
 
Six Months Ended
 
 
 
June 30, 2012
 
 
June 30, 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
 
 
46
 
 
 
106.00
 
 
 
80
 
 
 
110.36
 
Exercised (1)
 
 
(920
)
 
 
60.34
 
 
 
(1,016
)
 
 
51.11
 
Forfeited
 
 
(82
)
 
 
88.85
 
 
 
(99
)
 
 
87.22
 
Outstanding at June 30 (2)
 
 
7,418
 
 
$
71.23
 
 
 
7,410
 
 
$
66.51
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Vested or Expected to Vest (3)
 
 
7,179
 
 
$
70.69
 
 
 
7,183
 
 
$
65.84
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable at June 30 (4)
 
 
4,379
 
 
$
60.20
 
 
 
4,510
 
 
$
52.53
 
_____________________________________________________________________________________________________________________________________
(1)The total intrinsic value of stock options/SARs exercised for the six months ended June 30, 2012 and 2011 was $45.4 million and $59.9 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 June 30, 2012 and 2011 was $147.8 million and $283.6 million, respectively.  At June 30, 2012 and 2011, the weighted average remaining contractual life was 3.4 years and 3.6 years, respectively.
(3)The total intrinsic value of stock options/SARs vested or expected to vest at June 30, 2012 and 2011 was $146.7 million and $279.8 million, respectively.  At June 30, 2012 and 2011, the weighted average remaining contractual life was 3.3 years and 3.5 years, respectively.
(4)The total intrinsic value of stock options/SARs exercisable at June 30, 2012 and 2011 was $134.3 million and $235.5 million, respectively.  At June 30, 2012 and 2011, the weighted average remaining contractual life was 2.0 years and 2.4 years, respectively.
Restricted Stock and Restricted Stock Unit Transactions
EOG RESOURCES, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
(Unaudited)


The following table sets forth restricted stock and restricted stock units transactions for the six-month periods ended June 30, 2012 and 2011 (shares and units in thousands):

 
 
Six Months Ended
 
 
Six Months Ended
 
 
 
June 30, 2012
 
 
June 30, 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
 
 
290
 
 
 
112.08
 
 
 
292
 
 
 
106.14
 
Released (1)
 
 
(490
)
 
 
70.97
 
 
 
(213
)
 
 
69.29
 
Forfeited
 
 
(75
)
 
 
88.78
 
 
 
(97
)
 
 
80.09
 
Outstanding at June 30 (2)
 
 
3,965
 
 
$
86.42
 
 
 
3,991
 
 
$
81.61
 
_____________________________________________________________________________________________________________________________________
(1)The total intrinsic value of restricted stock and restricted stock units released for the six months ended June 30, 2012 and 2011 was $55.7 million and $22.6 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 June 30, 2012 and 2011 was $357.3 million and $417.3 million, respectively.