Stock-Based Compensation (Tables)

9 Months Ended

Sep. 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				Nine Months Ended
		September 30,				September 30,
		2011		2010		2011		2010
Lease and Well	$	9.5	$	8.0	$	24.4	$	20.3
Gathering and Processing Costs		0.2		0.1		0.6		0.4
Exploration Costs		7.8		7.3		19.4		18.1
General and Administrative		24.1		21.3		50.6		42.9
Total	$	41.6	$	36.7	$	95.0	$	81.7

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 nine-month periods ended September 30, 2011 and 2010 are as follows:

		Stock Options/SARs				ESPP
		Nine Months Ended				Nine Months Ended
		September 30,				September 30,
		2011		2010		2011		2010
Weighted Average Fair Value of Grants	$	29.87	$	32.10	$	22.35	$	25.42
Expected Volatility		40.92%		39.74%		29.68%		38.18%
Risk-Free Interest Rate		0.58%		0.87%		0.18%		0.18%
Dividend Yield		0.7%		0.7%		0.7%		0.7%
Expected Life		5.6 yrs		5.5 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 nine-month periods ended September 30, 2011 and 2010 (stock options and SARs in thousands):

	Nine Months Ended			Nine Months Ended
	September 30, 2011			September 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	1,470		85.25	1,420		93.02
Exercised (1)	(1,150)		48.41	(924)		40.11
Forfeited	(133)		87.75	(80)		80.12
Outstanding at September 30 (2)	8,632	$	69.80	8,751	$	64.49
Vested or Expected to Vest (3)	8,387	$	69.29	8,221	$	64.01
Exercisable at September 30 (4)	5,382	$	59.25	5,632	$	51.79

(1) The total intrinsic value of stock options/SARs exercised for the nine months ended September 30, 2011 and 2010 was $69 million and $58 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 September 30, 2011 and 2010 was $91 million and $252 million, respectively.  At September 30, 2011 and 2010, the weighted average remaining contractual life was 3.9 years and 4.1 years, respectively.

(3) The total intrinsic value of stock options/SARs vested or expected to vest at September 30, 2011 and 2010 was $91 million and $241 million, respectively.  At September 30, 2011 and 2010, the weighted average remaining contractual life was 3.8 years and 4.1 years, respectively.

(4) The total intrinsic value of stock options/SARs exercisable at September 30, 2011 and 2010 was $91 million and $233 million, respectively.  At September 30, 2011 and 2010, the weighted average remaining contractual life was 2.6 years and 3.0 years, respectively.

Restricted Stock and Restricted Stock Units

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

	Nine Months Ended			Nine Months Ended
	September 30, 2011			September 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	917		90.93	840		93.36
Released (1)	(410)		65.77	(308)		53.99
Forfeited	(202)		82.51	(57)		77.71
Outstanding at September 30 (2)	4,314	$	82.75	4,111	$	79.13

(1) The total intrinsic value of restricted stock and restricted stock units released for the nine months ended September 30, 2011 and 2010 was $40 million and $30 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 September 30, 2011 and 2010 was $306 million and $382 million, respectively.