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Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2016
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 and Comprehensive Income based upon the job function of the employees receiving the grants as follows (in millions):
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2016
 
2015
 
2016
 
2015
Lease and Well
$
8.9

 
$
10.3

 
$
28.2

 
$
32.9

Gathering and Processing Costs
0.4

 
0.4

 
1.0

 
1.0

Exploration Costs
4.1

 
6.0

 
15.6

 
19.3

General and Administrative
24.2

 
23.6

 
52.3

 
48.8

Total
$
37.6

 
$
40.3

 
$
97.1

 
$
102.0
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 nine-month periods ended September 30, 2016 and 2015 are as follows:
 
Stock Options/SARs
 
ESPP
 
Nine Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2016
 
2015
 
2016
 
2015
Weighted Average Fair Value of Grants
$
25.77

 
$
21.87

 
$
19.28

 
$
21.40

Expected Volatility
31.52
%
 
38.04
%
 
36.54
%
 
32.54
%
Risk-Free Interest Rate
0.78
%
 
0.83
%
 
0.43
%
 
0.12
%
Dividend Yield
0.76
%
 
0.85
%
 
0.82
%
 
0.72
%
Expected Life
5.4 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 nine-month periods ended September 30, 2016 and 2015 (stock options and SARs in thousands):
 
Nine Months Ended 
 September 30, 2016
 
Nine Months Ended 
 September 30, 2015
 
Number of
Stock
Options/SARs
 
Weighted
Average
Grant
Price
 
Number of
Stock
Options/SARs
 
Weighted
Average
Grant
Price
Outstanding at January 1
10,744

 
$
67.98

 
10,493

 
$
64.96

Granted
1,821

 
94.87

 
2,029

 
69.95

Exercised (1)
(1,673
)
 
49.85

 
(1,291
)
 
47.25

Forfeited
(241
)
 
85.77

 
(203
)
 
80.12

Outstanding at September 30 (2)
10,651

 
$
75.02

 
11,028

 
$
67.67

Vested or Expected to Vest (3)
10,300

 
$
74.60

 
10,653

 
$
67.22

Exercisable at September 30 (4)
6,302

 
$
66.46

 
6,121

 
$
57.34



(1)
The total intrinsic value of stock options/SARs exercised for the nine months ended September 30, 2016 and 2015 was $58.7 million and $52.4 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 September 30, 2016 and 2015 was $240.8 million and $136.9 million, respectively. At September 30, 2016 and 2015, the weighted average remaining contractual life was 4.1 years and 4.4 years, respectively.
(3)
The total intrinsic value of stock options/SARs vested or expected to vest at September 30, 2016 and 2015 was $237.2 million and $135.7 million, respectively. At September 30, 2016 and 2015, the weighted average remaining contractual life was 4.0 years and 4.3 years, respectively.
(4)
The total intrinsic value of stock options/SARs exercisable at September 30, 2016 and 2015 was $196.3 million and $121.6 million, respectively. At September 30, 2016 and 2015, the weighted average remaining contractual life was 2.8 years and 3.1 years, respectively.
Restricted Stock and Restricted Stock Unit Transactions
The following table sets forth restricted stock and restricted stock unit transactions for the nine-month periods ended September 30, 2016 and 2015 (shares and units in thousands):
 
Nine Months Ended 
 September 30, 2016
 
Nine Months Ended 
 September 30, 2015
 
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
4,908

 
$
70.35

 
5,394

 
$
64.39

Granted
833

 
87.76

 
1,036

 
77.90

Released (1)
(1,392
)
 
53.15

 
(1,250
)
 
51.02

Forfeited
(269
)
 
76.40

 
(152
)
 
74.83

Outstanding at September 30 (2)
4,080

 
$
79.37

 
5,028

 
$
70.18

 
(1)
The total intrinsic value of restricted stock and restricted stock units released for the nine months ended September 30, 2016 and 2015 was $116.3 million and $102.5 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 September 30, 2016 and 2015 was $394.6 million and $366.0 million, respectively.
Weighted Average Fair Values and Valuation Assumptions for Performance Units/Stocks
Weighted average fair values and valuation assumptions used to value performance unit and performance stock grants of Performance Awards during the nine-month periods ended September 30, 2016 and 2015 are as follows:

 
Nine Months Ended 
 September 30,
 
2016
 
2015
Weighted Average Fair Value of Grants
$
112.09

 
$
80.64

Expected Volatility
32.01
%
 
29.35
%
Risk-Free Interest Rate
0.89
%
 
1.07
%