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Stock-based compensation (Tables)
 12 Months Ended
Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Return on investment targets for Performance Vested shares
Effective January 1, 2013, we amended and restated the Performance Vested awards to reflect that: (i) those shares which would vest if CCMP receives net cash proceeds from a Transaction that yields a return of at least 400% per share, or 20% of the Performance Vested awards then outstanding, were removed from the initial Performance Vested awards and an equal number of Time Vested shares were granted effective as of January 1, 2013; and (ii) the return on investment targets applicable to the remaining number of Performance Vested shares outstanding and to any new grants of Performance Vested shares were set at the following levels:
Return on investment target
 
Shares vested
175
%
per share
 
20
%
of shares multiplied by the Vesting Fraction
200
%
per share
 
20
%
of shares multiplied by the Vesting Fraction
250
%
per share
 
20
%
of shares multiplied by the Vesting Fraction
300
%
per share
 
20
%
of shares multiplied by the Vesting Fraction
350
%
per share
 
20
%
of shares multiplied by the Vesting Fraction
Assumptions used in valuation of Performance Vested awards
The Monte Carlo simulation method was used to value the Performance Vested awards. A Monte Carlo simulation allows for the analysis of a complex security through statistical measures applied to a model that is simulated thousands of times to build distributions of potential outcomes. The variables and assumptions used in this calculation were as follows:
 
 
2013
 
2012
 
2011
Risk free interest rate
 
0.16
%
to
2.46
%
 
0.25
%
to
1.21
%
 
0.29
%
to
3.04
%
Expected volatility
 
38
%
to
39
%
 
42
%
to
50
%
 
 
 
45
%
Expected life
 
 
 
5 years

 
 
 
6 years

 
 
 
7 years

Expected dividends
 
 
 
$
—

 
 
 
$
—

 
 
 
$
—
Stock-based compensation expense
A portion of stock-based compensation cost associated with employees involved in our acquisition, exploration, and development activities has been capitalized as part of our oil and natural gas properties. The remaining cost is reflected in lease operating and general and administrative expenses in the consolidated statements of operations. We recognized stock-based compensation expense as follows for the years ended December 31:
 
 
2013
 
2012
 
2011
Stock-based compensation cost
 
$
7,819

 
$
4,982

 
$
6,042

Less: stock-based compensation cost capitalized
 
(2,345
)
 
(1,917
)
 
(2,295
)
Stock-based compensation expense
 
$
5,474

 
$
3,065

 
$
3,747

Recognized tax benefit associated with stock-based compensation
 
$
2,031

 
$
1,230

 
$
1,547
Phantom Stock and RSU
  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Rollforward of unvested stock-based compensation awards
A summary of our phantom stock and RSU activity during the three years ended December 31, 2013 is presented in the following table: 
 
 
Phantom Plan
 
RSU Plan
 
 
Weighted
average
grant date
fair value
 
Phantom
shares
 
Vest
date
fair
value
 
Weighted
average
grant date
fair value
 
Restricted Stock Units
 
Vest
date
fair
value
 
 
(per share)
 
 
 
 
 
(per share)
 
 
 
 
Unvested and outstanding at January 1, 2011
 
$
16.04

 
126,859

 
 
 
$
—

 
—

 
 
Granted
 
$
18.55

 
37,316

 
 
 
$
—

 
—

 
 
Vested
 
$
17.91

 
(17,064
)
 
$
309

 
$
—

 
—

 
 
Forfeited
 
$
16.98

 
(21,343
)
 
 
 
$
—

 
—

 
 
Unvested and outstanding at December 31, 2011
 
$
16.37

 
125,768

 
 
 
$
—

 
—

 
 
Granted
 
$
—

 
—

 
 
 
$
17.07

 
177,026

 
 
Vested
 
$
14.38

 
(26,908
)
 
$
431

 
$
—

 
—

 
$
—

Forfeited
 
$
17.18

 
(14,096
)
 
 
 
$
16.80

 
(25,117
)
 
 
Unvested and outstanding at December 31, 2012
 
$
16.87

 
84,764

 
 
 
$
17.12

 
151,909

 
 
Granted
 
$
—

 
—

 
 
 
$
12.45

 
291,253

 
 
Vested
 
$
16.20

 
(21,260
)
 
$
273

 
$
17.12

 
(50,246
)
 
$
626

Forfeited
 
$
17.57

 
(10,342
)
 
 
 
$
14.27

 
(67,619
)
 
 
Unvested and outstanding at December 31, 2013
 
$
17.01

 
53,162

 
 
 
$
13.53

 
325,297

 
 
Restricted Stock
  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Rollforward of unvested stock-based compensation awards
A summary of our Time and Performance award activity during the three years ended December 31, 2013 is presented in the following table:
 
Time Vested
 
Performance Vested
 
Weighted
average
grant date
fair value
 
Restricted
shares
 
Vest
date
fair
value
 
Weighted
average
grant date
fair value
 
Restricted
shares
 
($ per share)
 
 
 
 
 
($ per share)
 
 
Unvested and outstanding at January 1, 2011
$
684.15

 
10,049

 
 
 
$
295.10

 
41,297

Granted
$
674.33

 
4,030

 
 
 
$
307.00

 
13,612

Vested
$
684.15

 
(2,010
)
 
$
1,351

 
$
—

 
—

Forfeited
$
684.15

 
(484
)
 
 
 
$
295.10

 
(1,811
)
Unvested and outstanding at December 31, 2011
$
680.74

 
11,585

 
 
 
$
298.15

 
53,098

Granted
$
572.70

 
2,444

 
 
 
$
394.00

 
15,050

Vested
$
681.41

 
(2,673
)
 
$
1,980

 
$
—

 
—

Forfeited
$
684.43

 
(1,875
)
 
 
 
$
295.96

 
(12,324
)
Unvested and outstanding at December 31, 2012
$
651.97

 
9,481

 
 
 
$
298.15

 
55,824

Granted
$
626.02

 
2,839

 
 
 
$
181.59

 
5,217

Vested
$
662.55

 
(2,509
)
 
$
1,556

 
$
—

 
—

Forfeited
$
618.87

 
(1,734
)
 
 
 
$
340.23

 
(3,171
)
Modified
$
626.00

 
11,169

 
 
 
$
324.47

 
(11,169
)
Unvested and outstanding at December 31, 2013
$
634.67

 
19,246

 
 
 
$
307.45

 
46,701