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Stock Compensation Plans
 3 Months Ended
Mar. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Compensation Plans
STOCK COMPENSATION PLANS
We recognized $0.9 million and $1.2 million of stock compensation expense for the three months ended March 31, 2012 and 2011, respectively. These non-cash expenses are reflected as a component of the Company’s general and administrative expense. To the extent recognized compensation costs relates to employees directly involved in exploration and development activities, such amounts are capitalized to oil and natural gas properties. Stock based compensation capitalized as part of oil and natural gas properties was $0.1 million and $0.1 million for the three months ended March 31, 2012 and 2011, respectively.
Restricted Stock
A summary of the status of our unvested shares of restricted stock and the changes for the year ended December 31, 2011 and the three months ended March 31, 2012 is presented below:
 
 
Number of
unvested
restricted shares
 
Weighted
average  grant-
date fair value
per share
Unvested shares as of December 31, 2010
691,996

 
$
13.47

Granted
807,848

 
$
4.79

Vested
(245,924
)
 
$
16.46

Forfeited
(5,521
)
 
$
19.42

Unvested shares as of December 31, 2011
1,248,399

 
$
7.24

Forfeited
(1,824
)
 
$
18.48

Unvested shares as of March 31, 2012
1,246,575

 
$
7.23


As of March 31, 2012, there was $6.2 million of unrecognized compensation expense related to non-vested restricted stock grants. This unrecognized compensation cost is expected to be recognized over a weighted-average period of 1.39 years.