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Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs Stock-based compensation expense is included on the Condensed 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 
 June 30,
 
Six Months Ended 
 June 30,
 
2019
 
2018
 
2019
 
2018
Lease and Well
$
13.6

 
$
11.4

 
$
27.3

 
$
24.2

Gathering and Processing Costs
0.3

 
0.1

 
0.5

 
0.2

Exploration Costs
6.5

 
5.7

 
13.0

 
12.6

General and Administrative
18.2

 
14.6

 
36.9

 
30.3

Total
$
38.6

 
$
31.8

 
$
77.7

 
$
67.3
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, 2019 and 2018 are as follows:
 
Stock Options/SARs
 
ESPP
 
Six Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
2019
 
2018
 
2019
 
2018
Weighted Average Fair Value of Grants
$
25.68

 
$
29.18

 
$
22.98

 
$
23.27

Expected Volatility
31.50
%
 
28.88
%
 
36.31
%
 
22.04
%
Risk-Free Interest Rate
2.38
%
 
2.23
%
 
2.48
%
 
1.60
%
Dividend Yield
0.96
%
 
0.67
%
 
0.83
%
 
0.66
%
Expected Life
5.1 years
 
5.0 years

 
0.5 years

 
0.5 years
Stock Options and SARs Transactions
The following table sets forth stock option and SAR transactions for the six-month periods ended June 30, 2019 and 2018 (stock options and SARs in thousands):
 
Six Months Ended 
 June 30, 2019
 
Six Months Ended 
 June 30, 2018
 
Number of
Stock
Options/SARs
 
Weighted
Average
Grant
Price
 
Number of
Stock
Options/SARs
 
Weighted
Average
Grant
Price
Outstanding at January 1
8,310

 
$
96.90

 
9,103

 
$
83.89

Granted
32

 
93.29

 
32

 
110.17

Exercised (1)
(157
)
 
73.39

 
(1,662
)
 
71.33

Forfeited
(107
)
 
105.47

 
(124
)
 
92.07

Outstanding at June 30 (2)
8,078

 
$
97.23

 
7,349

 
$
86.71

Vested or Expected to Vest (3)
7,741

 
$
96.78

 
7,006

 
$
86.44

Exercisable at June 30 (4)
3,905

 
$
86.71

 
2,938

 
$
78.74



(1)
The total intrinsic value of stock options/SARs exercised during the six months ended June 30, 2019 and 2018 was $3.9 million and $74.5 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, 2019 and 2018 was $45.0 million and $277.2 million, respectively. At June 30, 2019 and 2018, the weighted average remaining contractual life was 4.0 years and 4.3 years, respectively.
(3)
The total intrinsic value of stock options/SARs vested or expected to vest at June 30, 2019 and 2018 was $44.4 million and $266.2 million, respectively. At June 30, 2019 and 2018, the weighted average remaining contractual life was 3.9 years and 4.3 years, respectively.
(4)
The total intrinsic value of stock options/SARs exercisable at June 30, 2019 and 2018 was $37.1 million and $134.2 million, respectively. At June 30, 2019 and 2018, the weighted average remaining contractual life was 2.5 years and 2.7 years, respectively.
Restricted Stock and Restricted Stock Unit Transactions
The following table sets forth restricted stock and restricted stock unit transactions for the six-month periods ended June 30, 2019 and 2018 (shares and units in thousands):
 
Six Months Ended 
 June 30, 2019
 
Six Months Ended 
 June 30, 2018
 
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
3,792

 
$
96.64

 
3,905

 
$
88.57

Granted
401

 
96.22

 
309

 
103.52

Released (1)
(395
)
 
93.84

 
(331
)
 
69.55

Forfeited
(68
)
 
98.27

 
(120
)
 
91.28

Outstanding at June 30 (2)
3,730

 
$
96.86

 
3,763

 
$
91.39

 
(1)
The total intrinsic value of restricted stock and restricted stock units released during the six months ended June 30, 2019 and 2018 was $35.7 million and $34.9 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 June 30, 2019 and 2018 was $347.5 million and $468.2 million, respectively.
Weighted Average Fair Values and Valuation Assumptions for Performance Award Grants
The following table sets forth the performance unit transactions for the six-month periods ended June 30, 2019 and 2018 (units in thousands):
 
Six Months Ended 
 June 30, 2019
 
Six Months Ended 
 June 30, 2018
 
Number of
Units
 
Weighted
Average
Price per
Grant Date
 
Number of
Units
 
Weighted
Average
Price per
Grant Date
Outstanding at January 1
539

 
$
101.53

 
502

 
$
90.96

Granted
—

 
—

 
—

 
—

Granted for Performance Multiple (1)
72

 
69.43

 
72

 
101.87

Released (2)
(83
)
 
85.65

 
—

 
—

Forfeited
—

 
—

 
—

 
—

Outstanding at June 30 (3)
528

(4)
$
99.64

 
574

 
$
92.33

 
(1)
Upon completion of the Performance Period for the performance units granted in 2015 and 2014, a performance multiple of 200% was applied to each of the grants resulting in additional grants of performance units in February 2019 and February 2018, respectively.
(2)
The total intrinsic value of performance units released during the six months ended June 30, 2019, was $7.7 million. The intrinsic value is based upon the closing price of EOG's common stock on the date the performance units are released.
(3)
The total intrinsic value of performance units outstanding at June 30, 2019 and 2018 was approximately $49.2 million and $71.4 million, respectively.
(4)
Upon the application of the relevant performance multiple at the completion of each of the remaining Performance Periods, a minimum of 205 and a maximum of 852 performance units could be outstanding.