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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2012

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, 2012, 2011 and 2010 was as follows (in millions):

		2012		2011		2010

Lease and Well	$	35	$	33	$	27
Gathering and Processing Costs		1		1		1
Exploration Costs		27		26		24
General and Administrative		65		68		55
Total	$	128	$	128	$	107

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, 2012, 2011 and 2010 were as follows:

	Stock Options/SARs			ESPP
	2012	2011	2010	2012	2011	2010

Weighted Average Fair Value of Grants	$37.95	$29.92	$32.12	$25.11	$22.75	$25.45
Expected Volatility	39.68%	40.96%	39.70%	40.92%	29.82%	38.30%
Risk-Free Interest Rate	0.45%	0.58%	0.87%	0.11%	0.14%	0.18%
Dividend Yield	0.60%	0.70%	0.70%	0.60%	0.70%	0.70%
Expected Life	5.6 yrs	5.6 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, 2012, 2011 and 2010 (stock options and SARs in thousands):

	2012		2011		2010
	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	8,374	$ 70.01	8,445	$64.49	8,335	$57.08
Granted	1,240	111.97	1,509	85.29	1,450	93.07
Exercised ⁽¹⁾	(3,246)	54.80	(1,399)	50.86	(1,144)	43.38
Forfeited	(149)	91.18	(181)	87.74	(196)	84.22
Outstanding at December 31	6,219	85.81	8,374	70.01	8,445	64.49

Stock Options/SARs Exercisable at December 31	3,143	74.98	5,148	59.19	5,439	51.71

(1)

The total intrinsic value of stock options/SARs exercised during the years 2012, 2011 and 2010 was $185 million, $78 million and $66 million, respectively. The intrinsic value is based upon the difference between the market price of the 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, 2012 (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⁾

$ 18.00 to $ 69.99	846	1	$ 45.84		838	1	$45.62
70.00 to 81.99	1,168	3	78.44		932	3	77.64
82.00 to 88.99	1,767	5	85.14		790	4	87.14
89.00 to 109.99	1,157	4	93.37		508	4	92.76
110.00 to 136.99	1,281	6	113.03		75	4	121.24
	6,219	4	85.81	$217,879	3,143	3	74.98	$144,335

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

ESPP Activity

At December 31, 2012, approximately 625,000 shares of Common Stock remained available for issuance under the ESPP. The following table summarizes ESPP activities for the years ended December 31, 2012, 2011 and 2010 (in thousands, except number of participants):

		2012		2011		2010

Approximate Number of Participants		1,705		1,525		1,236
Shares Purchased		164		135		114
Aggregate Purchase Price	$	12,522	$	10,947	$	9,172

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, 2012, 2011 and 2010 (shares and units in thousands):

	2012		2011		2010
		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	4,240	$82.93	4,009	$79.13	3,636	$73.69
Granted	767	112.17	932	90.87	850	93.39
Released ⁽¹⁾	(1,059)	72.70	(457)	66.10	(364)	58.00
Forfeited	(130)	85.36	(244)	82.45	(113)	79.37
Outstanding at December 31 ⁽²⁾	3,818	91.06	4,240	82.93	4,009	79.13

(1)

The total intrinsic value of restricted stock and restricted stock units released during the years ended December 31, 2012, 2011 and 2010 was $120 million, $44 million and $35 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, 2012 and 2011 was approximately $461 million and $418 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