Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [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 (Loss) and Comprehensive Income (Loss) based upon the job function of the employees receiving the grants as follows (in millions):



	Three Months Ended March 31,
	2015		2014
Lease and Well	$	12.1	$	11.6
Gathering and Processing Costs	0.3		0.3
Exploration Costs	7.4		7.9
General and Administrative	13.3		15.8
Total	$	33.1	$	35.6

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, 2015 and 2014 are as follows:



	Stock Options/SARs						ESPP
	Three Months Ended March 31,						Three Months Ended March 31,
	2015			2014			2015			2014
Weighted Average Fair Value of Grants	$	30.35		$	26.11		$	23.39		$	18.30
Expected Volatility	40.01		%	35.89		%	37.47		%	25.83		%
Risk-Free Interest Rate	0.82		%	0.84		%	0.11		%	0.09		%
Dividend Yield	0.73		%	0.48		%	0.72		%	0.44		%
Expected Life	5.3 years			5.3 years			0.5 years			0.5 years

Stock Options and SARs Transactions

The following table sets forth stock option and SAR transactions for the three-month periods ended March 31, 2015 and 2014 (stock options and SARs in thousands):



	Three Months Ended March 31, 2015			Three Months Ended March 31, 2014
	Number of Stock Options/SARs		Weighted Average Grant Price	Number of Stock Options/SARs		Weighted Average Grant Price
Outstanding at January 1	10,493		64.96	10,452		$	54.43
Granted	30		91.85	40		84.74
Exercised ⁽¹⁾	(459	)	47.25	(353	)	44.40
Forfeited	(96	)	77.96	(66	)	61.56
Outstanding at March 31 ⁽²⁾	9,968		65.73	10,073		$	54.85
Vested or Expected to Vest ⁽³⁾	9,586		65.09	9,619		$	54.44
Exercisable at March 31 ⁽⁴⁾	4,882		49.85	4,314		$	44.00


(1)	The total intrinsic value of stock options/SARs exercised for the three months ended March 31, 2015 and 2014 was $20.1 million and $16.2 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, 2015 and 2014 was $279.5 million and $435.5 million, respectively. At March 31, 2015 and 2014, the weighted average remaining contractual life was 4.2 years and 4.4 years, respectively.


(3)	The total intrinsic value of stock options/SARs vested or expected to vest at March 31, 2015 and 2014 was $274.1 million and $419.8 million, respectively. At March 31, 2015 and 2014, the weighted average remaining contractual life was 4.1 years and 4.3 years, respectively.


(4)	The total intrinsic value of stock options/SARs exercisable at March 31, 2015 and 2014 was $204.5 million and $233.3 million, respectively. At March 31, 2015 and 2014, the weighted average remaining contractual life was 2.8 years and 3.0 years, respectively.

Restricted Stock and Restricted Stock Unit Transactions

The following table sets forth restricted stock and restricted stock unit transactions for the three-month periods ended March 31, 2015 and 2014 (shares and units in thousands):



	Three Months Ended March 31, 2015				Three Months Ended March 31, 2014
	Number of Shares and Units		Weighted Average Grant Date Fair Value		Number of Shares and Units		Weighted Average Grant Date Fair Value
Outstanding at January 1	5,394		$	64.39	7,358		$	49.54
Granted	438		87.93		384		94.01
Released ⁽¹⁾	(365	)	51.22		(838	)	24.47
Forfeited	(44	)	76.19		(55	)	57.73
Outstanding at March 31 ⁽²⁾	5,423		$	67.08	6,849		$	55.04


(1)	The total intrinsic value of restricted stock and restricted stock units released for the three months ended March 31, 2015 and 2014 was $32.8 million and $79.0 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date the restricted stock and restricted stock units are released.


(2)	The total intrinsic value of restricted stock and restricted stock units outstanding at March 31, 2015 and 2014 was $497.3 million and $671.8 million, respectively.

Performance Units and Performance Stock Transactions

The following table sets forth performance unit and performance stock transactions for the three-month periods ended March 31, 2015 and 2014 (shares and units in thousands):



	Three Months Ended March 31, 2015			Three Months Ended March 31, 2014
	Number of Shares and Units	Weighted Average Grant Date Fair Value		Number of Shares and Units	Weighted Average Grant Date Fair Value
Outstanding at January 1	333	$	90.17	261	$	82.18
Granted	—	—		—	—
Released	—	—		—	—
Forfeited	—	—		—	—
Outstanding at March 31 ⁽¹⁾	333	$	90.17	261	$	82.18


(1)	The total intrinsic value of performance units and performance stock outstanding at March 31, 2015 and 2014 was $30.6 million and $21.9 million, respectively.