Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2016

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 functions of the employees receiving the grants. Compensation expense related to EOG's stock-based compensation plans for the years ended December 31, 2016, 2015 and 2014 was as follows (in millions):



	2016		2015		2014

Lease and Well	$	38	$	44	$	41
Gathering and Processing Costs	1		1		1
Exploration Costs	21		26		27
General and Administrative	68		60		76
Total	$	128	$	131	$	145

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, 2016, 2015 and 2014 were as follows:



	Stock Options/SARs									ESPP
	2016			2015			2014			2016			2015			2014

Weighted Average Fair Value of Grants	$	25.78		$	21.88		$	30.75		$	19.21		$	21.21		$	21.65
Expected Volatility	31.54		%	38.03		%	35.28		%	36.55		%	32.08		%	25.03		%
Risk-Free Interest Rate	0.78		%	0.83		%	0.95		%	0.44		%	0.12		%	0.08		%
Dividend Yield	0.76		%	0.85		%	0.61		%	0.82		%	0.73		%	0.46		%
Expected Life	5.4 years			5.3 years			5.2 years			0.5 years			0.5 years			0.5 years

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, 2016, 2015 and 2014 (stock options and SARs in thousands):



	2016				2015				2014
	Number of Stock Options/ SARs		Weighted Average Grant Price		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	10,452		$	54.43
Granted	1,855		94.82		2,037		69.99		2,146		101.55
Exercised ⁽¹⁾	(2,376	)	54.56		(1,518	)	47.64		(1,718	)	45.68
Forfeited	(373	)	87.38		(268	)	80.31		(387	)	68.95
Outstanding at December 31	9,850		75.53		10,744		67.98		10,493		64.96
Stock Options/SARs Exercisable at December 31	5,613		66.48		5,993		57.96		5,287		49.40


(1)	The total intrinsic value of stock options/SARs exercised during the years 2016, 2015 and 2014 was $84 million, $60 million and $95 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 and exercisable at December 31, 2016 (stock options and SARs in thousands):



Stock Options/SARs Outstanding							Stock Options/SARs Exercisable
Range of Grant Prices	Stock Options/ SARs	Weighted Average Remaining Life (Years)	Weighted Average Grant Price		Aggregate Intrinsic Value⁽¹⁾		Stock Options/ SARs	Weighted Average Remaining Life (Years)	Weighted Average Grant Price		Aggregate Intrinsic Value ⁽¹⁾

$ 34.00 to $ 55.99	1,906	1	$	43.68			1,906	1	$	43.68
56.00 to 69.99	2,922	4	64.12				1,654	3	60.09
70.00 to 94.99	1,526	3	84.62				1,072	3	84.49
95.00 to 99.99	1,794	7	95.10				23	3	97.31
100.00 to 116.99	1,702	4	102.02				958	4	102.00
	9,850	4	75.53		$	253,400	5,613	3	66.48		$	195,186


(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, 2016, approximately 356,000 shares of Common Stock remained available for issuance under the ESPP. The following table summarizes ESPP activities for the years ended December 31, 2016, 2015 and 2014 (in thousands, except number of participants):



	2016		2015		2014

Approximate Number of Participants	1,746		1,963		1,991
Shares Purchased	212		225		202
Aggregate Purchase Price	$	13,787	$	15,045	$	14,927

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, 2016, 2015 and 2014 (shares and units in thousands):



	2016				2015				2014
	Number of Shares and Units		Weighted Average Grant Date Fair Value		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	7,358		$	49.54
Granted	853		88.01		1,044		77.94		1,132		98.72
Released ⁽¹⁾	(1,465	)	53.95		(1,331	)	51.52		(2,761	)	105.24
Forfeited	(334	)	77.29		(199	)	74.56		(335	)	62.55
Outstanding at December 31 ⁽²⁾	3,962		79.63		4,908		70.35		5,394		64.39


(1)	The total intrinsic value of restricted stock and restricted stock units released during the years ended December 31, 2016, 2015 and 2014 was $124 million, $109 million and $291 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 December 31, 2016 and 2015 was approximately $401 million and $347 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 during the years ended December 31, 2016, 2015 and 2014 were as follows:



	2016			2015			2014

Weighted Average Fair Value of Grants	$	119.10		$	80.64		$	119.27
Expected Volatility	32.48		%	29.35		%	32.18		%
Risk-Free Interest Rate	1.15		%	1.07		%	1.18		%