Share-Based Compensation (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Share-based Payment Arrangement [Abstract] |
|
| Summary of changes in unvested restricted stock |
A summary of the changes in unvested restricted stock during 2019, 2018 and 2017 is presented below: | | | | | | | | | | | | | | | | | Shares of Unvested Restricted Stock(a) | | Weighted Average Grant Date Fair Value(a) | | | (in thousands) | | | | Unvested restricted stock as of January 1, 2019 | | 59 | | | $ | 886 | | | Granted | | 30 | | | $ | 530 | | | Vested | | (30) | | | $ | 876 | | | Forfeited | | (7) | | | $ | 744 | | | Unvested restricted stock as of December 31, 2019 | | 52 | | | $ | 710 | | | | | | | | Unvested restricted stock as of January 1, 2018 | | 66 | | | $ | 1,274 | | | Granted | | 30 | | | $ | 746 | | | Vested | | (29) | | | $ | 1,534 | | | Forfeited | | (8) | | | $ | 1,204 | | | Unvested restricted stock as of December 31, 2018 | | 59 | | | $ | 886 | | | | | | | | Unvested restricted stock as of January 1, 2017 | | 45 | | | $ | 2,278 | | | Granted | | 49 | | | $ | 1,080 | | | Vested | | (22) | | | $ | 2,746 | | | Forfeited | | (6) | | | $ | 1,664 | | | Unvested restricted stock as of December 31, 2017 | | 66 | | | $ | 1,274 | |
___________________________________________ (a)Amount has been retroactively adjusted to reflect a 1-for-200 (1:200) reverse stock split effective April 14, 2020. See Note 26 for additional information.
|
| Schedule of share-based payment assumptions |
We used the following weighted average assumptions to estimate the grant date fair value of the stock options granted in 2019: | | | | | | | | | | Expected option life – years | | 6.0 | | Volatility | | 65.61 | % | | Risk-free interest rate | | 2.47 | % | | Dividend yield | | — | % |
|
| Schedule of information related to stock option activity |
The following table provides information related to stock option activity for 2019, 2018 and 2017: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Number of Shares Underlying Options(a) | | Weighted Average Exercise Price Per Share(a) | | Weighted Average Contract Life in Years | | Aggregate Intrinsic Value(b) | | | (in thousands) | | | | | | ($ in millions) | Outstanding as of January 1, 2019 | | 90 | | | $ | 1,440 | | | 7.15 | | $ | — | | | Granted | | 5 | | | $ | 594 | | | | | | Exercised | | — | | | $ | — | | | | | $ | — | | Expired | | (2) | | | $ | 1,272 | | | | | | Forfeited | | (3) | | | $ | 794 | | | | | | Outstanding as of December 31, 2019 | | 90 | | | $ | 1,420 | | | 5.70 | | $ | — | | | Exercisable as of December 31, 2019 | | 65 | | | $ | 1,656 | | | 4.86 | | $ | — | | | | | | | | | | | Outstanding as of January 1, 2018 | | 81 | | | $ | 1,650 | | | 7.73 | | $ | 1 | | | Granted | | 18 | | | $ | 602 | | | | | | Exercised | | — | | | $ | — | | | | | $ | — | | Expired | | (3) | | | $ | 2,766 | | | | | | Forfeited | | (6) | | | $ | 1,090 | | | | | | Outstanding as of December 31, 2018 | | 90 | | | $ | 1,440 | | | 7.15 | | $ | — | | | Exercisable as of December 31, 2018 | | 41 | | | $ | 2,146 | | | 5.73 | | $ | — | | | | | | | | | | | Outstanding as of January 1, 2017 | | 42 | | | $ | 2,376 | | | 7.22 | | $ | 14 | | | Granted | | 46 | | | $ | 1,090 | | | | | | Exercised | | — | | | $ | — | | | | | $ | — | | Expired | | (2) | | | $ | 3,700 | | | | | | Forfeited | | (5) | | | $ | 1,824 | | | | | | Outstanding as of December 31, 2017 | | 81 | | | $ | 1,650 | | | 7.73 | | $ | 1 | | | Exercisable as of December 31, 2017 | | 22 | | | $ | 3,030 | | | 5.26 | | $ | — | |
___________________________________________ (a)Amount has been retroactively adjusted to reflect a 1-for-200 (1:200) reverse stock split effective April 14, 2020. See Note 26 for additional information. (b)The intrinsic value of a stock option is the amount by which the current market value or the market value upon exercise of the underlying stock exceeds the exercise price of the option.
|
| Schedule of compensation costs (credit), net of actual forfeitures |
We recognized the following compensation costs, net of actual forfeitures, related to restricted stock and stock options for the years ended December 31, 2019, 2018 and 2017: | | | | | | | | | | | | | | | | | | | | | | | | Years Ended December 31, | | | | 2019 | | 2018 | | 2017 | | | | ($ in millions) | | General and administrative expenses | | $ | 26 | | | $ | 31 | | | $ | 43 | | | Oil and natural gas properties | | 2 | | | 2 | | | 5 | | | Oil, natural gas and NGL production expenses | | 3 | | | 5 | | | 12 | | | Exploration expenses | | 1 | | | 1 | | | 1 | | | Total restricted stock and stock option compensation | | $ | 32 | | | $ | 39 | | | $ | 61 | |
We recognized the following compensation costs (credits), net of actual forfeitures, related to our liability-classified awards for the years ended December 31, 2019, 2018 and 2017: | | | | | | | | | | | | | | | | | | | | | | | | Years Ended December 31, | | | | 2019 | | 2018 | | 2017 | | | | ($ in millions) | | General and administrative expenses | | $ | 5 | | | $ | 9 | | | $ | (4) | | | Oil and natural gas properties | | 1 | | | 1 | | | — | | | Oil, natural gas and NGL production expenses | | 3 | | | 2 | | | — | | | Restructuring and other termination costs | | 1 | | | — | | | — | | | Total liability-classified awards compensation | | $ | 10 | | | $ | 12 | | | $ | (4) | |
|
| Summary of liability-classified awards |
The following table presents a summary of our liability-classified awards: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Grant Date Fair Value | | December 31, 2019 | | | Units | | | Fair Value | | Vested Liability | | | | | ($ in millions) | | ($ in millions) | | 2019 PSU Awards: | | | | | | | | | Payable 2020, 2021 and 2022 | | 4,674,503 | | | $ | 14 | | | $ | 4 | | | $ | — | | | 2018 PSU Awards: | | | | | | | | | Payable 2020 and 2021 | | 2,340,157 | | | $ | 7 | | | $ | 2 | | | $ | — | | | 2017 PSU Awards: | | | | | | | | | | Payable 2020 | | 1,174,973 | | | $ | 8 | | | $ | 1 | | | $ | — | | | 2018 CRSU Awards: | | | | | | | | | Payable 2020 and 2021 | | 8,233,207 | | | $ | 25 | | | $ | 7 | | | $ | — | |
|