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Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2018
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 Condensed 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 
 September 30,
 
Nine Months Ended 
 September 30,
 
2018
 
2017
 
2018
 
2017
Lease and Well
$
12.9

 
$
9.5

 
$
37.1

 
$
30.0

Gathering and Processing Costs
0.1

 
0.1

 
0.3

 
0.5

Exploration Costs
5.8

 
4.7

 
18.4

 
16.1

General and Administrative
30.2

 
29.2

 
60.5

 
54.9

Total
$
49.0

 
$
43.5

 
$
116.3

 
$
101.5
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, 2018 and 2017 are as follows:
 
Stock Options/SARs
 
ESPP
 
Nine Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2018
 
2017
 
2018
 
2017
Weighted Average Fair Value of Grants
$
33.49

 
$
23.94

 
$
25.52

 
$
22.10

Expected Volatility
28.22
%
 
28.28
%
 
24.36
%
 
26.96
%
Risk-Free Interest Rate
2.68
%
 
1.52
%
 
1.86
%
 
0.89
%
Dividend Yield
0.72
%
 
0.75
%
 
0.64
%
 
0.71
%
Expected Life
5.0 years

 
5.1 years

 
0.5 years

 
0.5 years
Stock Options and SARs Transactions
The following table sets forth stock option and SAR transactions for the nine-month periods ended September 30, 2018 and 2017 (stock options and SARs in thousands):
 
Nine Months Ended 
 September 30, 2018
 
Nine Months Ended 
 September 30, 2017
 
Number of
Stock
Options/SARs
 
Weighted
Average
Grant
Price
 
Number of
Stock
Options/SARs
 
Weighted
Average
Grant
Price
Outstanding at January 1
9,103

 
$
83.89

 
9,850

 
$
75.53

Granted
1,884

 
126.65

 
2,260

 
96.24

Exercised (1)
(2,144
)
 
69.62

 
(1,674
)
 
55.63

Forfeited
(167
)
 
91.89

 
(269
)
 
90.22

Outstanding at September 30 (2)
8,676

 
$
96.55

 
10,167

 
$
83.02

Vested or Expected to Vest (3)
8,316

 
$
96.08

 
9,799

 
$
82.69

Exercisable at September 30 (4)
4,202

 
$
85.80

 
5,517

 
$
75.59



(1)
The total intrinsic value of stock options/SARs exercised for the nine months ended September 30, 2018 and 2017 was $103.7 million and $66.6 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, 2018 and 2017 was $269.1 million and $147.8 million, respectively. At September 30, 2018 and 2017, the weighted average remaining contractual life was 4.8 years and 4.3 years, respectively.
(3)
The total intrinsic value of stock options/SARs vested or expected to vest at September 30, 2018 and 2017 was $261.9 million and $145.9 million, respectively. At September 30, 2018 and 2017, the weighted average remaining contractual life was 4.7 years and 4.3 years, respectively.
(4)
The total intrinsic value of stock options/SARs exercisable at September 30, 2018 and 2017 was $175.5 million and $123.2 million, respectively. At September 30, 2018 and 2017, the weighted average remaining contractual life was 3.4 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 nine-month periods ended September 30, 2018 and 2017 (shares and units in thousands):
 
Nine Months Ended 
 September 30, 2018
 
Nine Months Ended 
 September 30, 2017
 
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
3,905

 
$
88.57

 
3,962

 
$
79.63

Granted
792

 
117.67

 
1,061

 
97.26

Released (1)
(708
)
 
77.46

 
(837
)
 
59.67

Forfeited
(150
)
 
91.36

 
(190
)
 
84.66

Outstanding at September 30 (2)
3,839

 
$
96.52

 
3,996

 
$
88.25

 
(1)
The total intrinsic value of restricted stock and restricted stock units released for the nine months ended September 30, 2018 and 2017 was $80.2 million and $81.6 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 September 30, 2018 and 2017 was $489.7 million and $386.6 million, respectively.
Weighted Average Fair Values and Valuation Assumptions for Performance Award Grants
The following table sets forth the Performance Awards transactions for the nine-month periods ended September 30, 2018 and 2017 (units in thousands):
 
Nine Months Ended 
 September 30, 2018
 
Nine Months Ended 
 September 30, 2017
 
Number of
Units
 
Weighted
Average
Price per
Grant Date
 
Number of
Units
 
Weighted
Average
Price per
Grant Date
Outstanding at January 1
502

 
$
90.96

 
545

 
$
80.92

Granted
107

 
127.00

 
78

 
96.29

Granted for Performance Multiple (1)
72

 
101.87

 
119

 
84.43

Released (2)
(148
)
 
84.43

 
(240
)
 
66.69

Forfeited
—

 
—

 
—

 
—

Outstanding at September 30 (3)
533

(4)
$
101.50

 
502

 
$
90.96

 
(1)
Upon completion of the Performance Period for the Performance Awards granted in 2014 and 2013, a performance multiple of 200% was applied to each of the grants resulting in additional grants of Performance Awards in February 2018 and February 2017, respectively.
(2)
The total intrinsic value of Performance Awards released during the nine months ended September 30, 2018 and 2017 was approximately $17.7 million and $23.6 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date the Performance Awards are released.
(3)
The total intrinsic value of Performance Awards outstanding at September 30, 2018 and 2017 was approximately $68.0 million and $48.6 million, respectively.
(4)
Upon the application of the relevant performance multiple at the completion of each of the remaining Performance Periods, a minimum of 143,610 and a maximum of 921,940 Performance Awards could be outstanding.