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Stock Compensation
 6 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Compensation
STOCK COMPENSATION

Stock Incentive Plan
Restricted Stock: The Stock Incentive Plan provides for the grant of restricted stock and restricted stock units (restricted stock awards) which have been valued based on the quoted market price of Energen’s common stock at the date of grant. Restricted stock awards vest within three years from grant date. A summary of restricted stock award activity during the six months ended June 30, 2017 is presented below:

 
Shares
Weighted Average Price
Nonvested at December 31, 2016
325,643

$
44.44

Restricted stock units granted
124,659

52.45

Vested
(38,000
)
70.00

Forfeited
(2,669
)
44.31

Nonvested at June 30, 2017
409,633

$
44.51



Performance Share Awards: In addition, the Stock Incentive Plan provides for the grant of performance share awards to eligible employees based on predetermined Energen performance criteria at the end of an award period. The Stock Incentive Plan provides that payment of earned performance share awards be made in the form of Energen common stock. Performance share awards are valued using the Monte Carlo model which uses historical volatility and other assumptions to estimate the probability of satisfying the market condition of the award and have a three-year vesting period. A summary of performance share award activity during the six months ended June 30, 2017 is presented below:



Shares
Weighted
Average Price
Nonvested at December 31, 2016
336,442

$
57.03

Granted (two-year vesting period)
3,116

$
96.54

Granted (three-year vesting period)
137,084

66.89

Vested and paid
(59,530
)
93.52

Forfeited
(2,937
)
45.61

Nonvested at June 30, 2017
414,175

$
55.43



Stock Repurchase Program
During the three months and six months ended June 30, 2017, Energen had non-cash purchases of approximately $15,000 and $3.2 million, respectively, of Energen common stock in conjunction with tax withholdings on other stock compensation and our non-qualified deferred compensation plan. Energen had non-cash purchases of Energen common stock of $19,000 and $2.4 million during the three months and six months June 30, 2016. Energen utilized internally generated cash flows in payment of the related tax withholdings.