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Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Stock-based compensation expense is included on the Consolidated Statements of Income and Comprehensive Income based upon the job function of the employees receiving the grants as follows (in millions):
 
Three Months Ended 
 March 31,
 
2016
 
2015
Lease and Well
$
10.4

 
$
12.1

Gathering and Processing Costs
0.3

 
0.3

Exploration Costs
6.5

 
7.4

General and Administrative
15.2

 
13.3

Total
$
32.4

 
$
33.1
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 three-month periods ended March 31, 2016 and 2015 are as follows:
 
Stock Options/SARs
 
ESPP
 
Three Months Ended 
 March 31,
 
Three Months Ended 
 March 31,
 
2016
 
2015
 
2016
 
2015
Weighted Average Fair Value of Grants
$
20.87

 
$
30.35

 
$
17.56

 
$
23.39

Expected Volatility
36.45
%
 
40.01
%
 
36.79
%
 
37.47
%
Risk-Free Interest Rate
1.03
%
 
0.82
%
 
0.49
%
 
0.11
%
Dividend Yield
0.86
%
 
0.73
%
 
0.82
%
 
0.72
%
Expected Life
5.3 years

 
5.3 years

 
0.5 years

 
0.5 years
Stock Options and SARs Transactions
The following table sets forth stock option and SAR transactions for the three-month periods ended March 31, 2016 and 2015 (stock options and SARs in thousands):
 
Three Months Ended 
 March 31, 2016
 
Three Months Ended 
 March 31, 2015
 
Number of
Stock
Options/SARs
 
Weighted
Average
Grant
Price
 
Number of
Stock
Options/SARs
 
Weighted
Average
Grant
Price
Outstanding at January 1
10,744

 
$
67.98

 
10,493

 
$
64.96

Granted
5

 
69.03

 
30

 
91.85

Exercised (1)
(258
)
 
43.44

 
(459
)
 
47.25

Forfeited
(60
)
 
85.65

 
(96
)
 
77.96

Outstanding at March 31 (2)
10,431

 
$
68.48

 
9,968

 
$
65.73

Vested or Expected to Vest (3)
10,060

 
$
68.04

 
9,586

 
$
65.09

Exercisable at March 31 (4)
5,770

 
$
58.68

 
4,882

 
$
49.85



(1)
The total intrinsic value of stock options/SARs exercised for the three months ended March 31, 2016 and 2015 was $7.3 million and $20.1 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 March 31, 2016 and 2015 was $122.1 million and $279.5 million, respectively. At March 31, 2016 and 2015, the weighted average remaining contractual life was 3.9 years and 4.2 years, respectively.
(3)
The total intrinsic value of stock options/SARs vested or expected to vest at March 31, 2016 and 2015 was $121.1 million and $274.1 million, respectively. At March 31, 2016 and 2015, the weighted average remaining contractual life was 3.9 years and 4.1 years, respectively.
(4)
The total intrinsic value of stock options/SARs exercisable at March 31, 2016 and 2015 was $108.7 million and $204.5 million, respectively. At March 31, 2016 and 2015, the weighted average remaining contractual life was 2.7 years and 2.8 years, respectively.
Restricted Stock and Restricted Stock Unit Transactions
The following table sets forth restricted stock and restricted stock unit transactions for the three-month periods ended March 31, 2016 and 2015 (shares and units in thousands):
 
Three Months Ended 
 March 31, 2016
 
Three Months Ended 
 March 31, 2015
 
Number of
Shares and
Units
 
Weighted
Average
Grant Date
Fair Value
 
Number of
Shares and
Units
 
Weighted
Average
Grant Date
Fair Value
Outstanding at January 1
4,908

 
$
70.35

 
5,394

 
$
64.39

Granted
284

 
75.26

 
438

 
87.93

Released (1)
(353
)
 
53.88

 
(365
)
 
51.22

Forfeited
(39
)
 
75.35

 
(44
)
 
76.19

Outstanding at March 31 (2)
4,800

 
$
71.81

 
5,423

 
$
67.08

 
(1)
The total intrinsic value of restricted stock and restricted stock units released for the three months ended March 31, 2016 and 2015 was $24.7 million and $32.8 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date the restricted stock and restricted stock units are released.
(2)
The total intrinsic value of restricted stock and restricted stock units outstanding at March 31, 2016 and 2015 was $348.4 million and $497.3 million, respectively.