Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2011

Notes To Financial Statements [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

Stock-based compensation expense is included in the Consolidated Statements of Income based upon the job function of the employee receiving the grants as follows (in millions):

		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2011		2010		2011		2010
Lease and Well	$	7.2	$	6.0	$	14.9	$	12.3
Gathering and Processing Costs		0.2		0.3		0.4		0.3
Exploration Costs		5.5		5.3		11.6		10.8
General and Administrative		13.1		10.9		26.5		21.6
Total	$	26.0	$	22.5	$	53.4	$	45.0

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, 2011 and 2010 are as follows:

		Stock Options/SARs				ESPP
		Six Months Ended				Six Months Ended
		June 30,				June 30,
		2011		2010		2011		2010
Weighted Average Fair Value of Grants	$	36.57	$	33.38	$	21.55	$	24.66
Expected Volatility		37.13%		38.05%		30.26%		34.78%
Risk-Free Interest Rate		1.12%		1.21%		0.18%		0.15%
Dividend Yield		0.6%		0.6%		0.6%		0.7%
Expected Life		5.4 yrs		5.0 yrs		0.5 yrs		0.5 yrs

Schedule of Share-Based Compensation Arrangement By Share-Based Payment Award

The following table sets forth stock option and SAR transactions for the six-month periods ended June 30, 2011 and 2010 (stock options and SARs in thousands):

	Six Months Ended			Six Months Ended
	June 30, 2011			June 30, 2010
			Weighted			Weighted
	Number of		Average	Number of		Average
	Stock		Grant	Stock		Grant
	Options/SARs		Price	Options/SARs		Price
Outstanding at January 1	8,445	$	64.49	8,335	$	57.08
Granted	80		110.36	91		103.36
Exercised (1)	(1,016)		51.11	(724)		40.72
Forfeited	(99)		87.22	(56)		79.22
Outstanding at June 30 (2)	7,410	$	66.51	7,646	$	59.02
Vested or Expected to Vest (3)	7,183	$	65.84	7,414	$	58.32
Exercisable at June 30 (4)	4,510	$	52.53	4,750	$	45.71

(1) The total intrinsic value of stock options/SARs exercised for the six months ended June 30, 2011 and 2010 was $59.9 million and $45.2 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, 2011 and 2010 was $283.6 million and $302.7 million, respectively.  At June 30, 2011 and 2010, the weighted average remaining contractual life was 3.6 years and 3.8 years, respectively.

(3) The total intrinsic value of stock options/SARs vested or expected to vest at June 30, 2011 and 2010 was $279.8 million and $298.7 million, respectively.  At June 30, 2011 and 2010, the weighted average remaining contractual life was 3.5 years and 3.8 years, respectively.

(4) The total intrinsic value of stock options/SARs exercisable at June 30, 2011 and 2010 was $235.5 million and $251.0 million, respectively.  At June 30, 2011 and 2010, the weighted average remaining contractual life was 2.4 years and 2.9 years, respectively.

Restricted Stock and Restricted Stock Units

The following table sets forth the restricted stock and restricted stock units transactions for the six-month periods ended June 30, 2011 and 2010 (shares and units in thousands):

	Six Months Ended			Six Months Ended
	June 30, 2011			June 30, 2010
			Weighted			Weighted
	Number of		Average	Number of		Average
	Shares and		Grant Date	Shares and		Grant Date
	Units		Fair Value	Units		Fair Value
Outstanding at January 1	4,009	$	79.13	3,636	$	73.69
Granted	292		106.14	251		95.95
Released (1)	(213)		69.29	(206)		49.46
Forfeited	(97)		80.09	(44)		76.23
Outstanding at June 30 (2)	3,991	$	81.61	3,637	$	76.57

(1) The total intrinsic value of restricted stock and restricted stock units released for the six months ended June 30, 2011 and 2010 was $22.6 million and $20.4 million, respectively.  The intrinsic value is based upon the closing price of EOG's common stock on the date restricted stock and restricted stock units are released.

(2) The total intrinsic value of restricted stock and restricted stock units outstanding at June 30, 2011 and 2010 was $417.3 million and $357.7 million, respectively.