Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [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 functions of the employees receiving the grants.  Compensation expense related to EOG's stock-based compensation plans for the years ended December 31, 2019, 2018 and 2017 was as follows (in millions):

	2019		2018		2017
Lease and Well	$	56	$	51	$	41
Gathering and Processing Costs	1		1		1
Exploration Costs	26		25		23
General and Administrative	92		78		69
Total	$	175	$	155	$	134

Vesting Schedule

Grant Type	Vesting Schedule
Stock Options/SARs	Vesting in increments of 33%, 33% and 34% on each of the first three anniversaries, respectively, of the date of grant
Restricted Stock/Restricted Stock Units	"Cliff" vesting three years from the date of grant
Performance Units	"Cliff" vesting approximately 41 months from the date of grant - specifically, on the February 28th immediately following the Compensation Committee's certifications contemplated by the form of award agreement governing such grant of performance units

Weighted Average Fair Values and Valuation Assumptions

Weighted average fair values and valuation assumptions used to value stock option, SAR and ESPP grants for the years ended December 31, 2019, 2018 and 2017 were as follows:

	Stock Options/SARs									ESPP
	2019			2018			2017			2019			2018			2017
Weighted Average Fair Value of Grants	$	19.49		$	33.46		$	23.95		$	22.83		$	25.75		$	22.20
Expected Volatility	32.02		%	28.23		%	28.28		%	34.78		%	24.59		%	27.12		%
Risk-Free Interest Rate	1.69		%	2.68		%	1.52		%	2.27		%	1.89		%	0.88		%
Dividend Yield	1.39		%	0.72		%	0.75		%	1.04		%	0.64		%	0.71		%
Expected Life	5.1 years			5.0 years			5.1 years			0.5 years			0.5 years			0.5 years

Schedule of Share Based Compensation Arrangement By Share Based Payment Award

The following table sets forth the stock option and SAR transactions for the years ended December 31, 2019, 2018 and 2017 (stock options and SARs in thousands):

	2019				2018				2017
	Number of Stock Options/ SARs		Weighted Average Grant Price		Number of Stock Options/ SARs		Weighted Average Grant Price		Number of Stock Options/ SARs		Weighted Average Grant Price
Outstanding at January 1	8,310		$	96.90	9,103		$	83.89	9,850		$	75.53
Granted	1,965		75.39		1,906		126.49		2,274		96.27
Exercised (1)	(606	)	61.43		(2,493	)	72.21		(2,574	)	61.12
Forfeited	(274	)	102.57		(206	)	94.43		(447	)	93.84
Outstanding at December 31	9,395		94.53		8,310		96.90		9,103		83.89
Stock Options/SARs Exercisable at December 31	5,275		94.21		3,969		85.82		4,510		75.76

(1)

The total intrinsic value of stock options/SARs exercised during the years 2019, 2018 and 2017 was $14 million, $118 million and $95 million, respectively.  The intrinsic value is based upon the difference between the market price of the Common Stock on the date of exercise and the grant price of the stock options/SARs.

Stock Options and SARs Outstanding and Exercisable

The following table summarizes certain information for the stock options and SARs outstanding and exercisable at December 31, 2019 (stock options and SARs in thousands):

Stock Options/SARs Outstanding							Stock Options/SARs Exercisable
Range of Grant Prices	Stock Options/ SARs	Weighted Average Remaining Life (Years)	Weighted Average Grant Price		Aggregate Intrinsic Value(1)		Stock Options/ SARs	Weighted Average Remaining Life (Years)	Weighted Average Grant Price		Aggregate Intrinsic Value (1)
$ 59.00 to $  74.99	979	3	$	69.43			953	3	$	69.37
75.00 to    75.99	1,894	7	75.09				8	1	75.09
76.00 to     95.99	1,979	3	91.35				1,607	2	90.67
96.00 to     96.99	1,871	4	96.29				1,234	4	96.29
97.00 to   125.99	923	2	102.72				862	2	102.20
126.00 to   129.99	1,749	6	127.01				611	5	127.01
	9,395	4	94.53		$	30,534	5,275	3	94.21		$	13,839

(1)

Based upon the difference between the closing market price of the Common Stock on the last trading day of the year and the grant price of in-the-money stock options and SARs.

ESPP Activity

The following table summarizes ESPP activity for the years ended December 31, 2019, 2018 and 2017 (in thousands, except number of participants):

	2019		2018		2017
Approximate Number of Participants	1,998		1,934		1,870
Shares Purchased	224		180		180
Aggregate Purchase Price	$	16,533	$	14,887	$	13,997

Restricted Stock and Restricted Stock Unit Transactions

The following table sets forth the restricted stock and restricted stock unit transactions for the years ended December 31, 2019, 2018 and 2017 (shares and units in thousands):

	2019				2018				2017
	Number of Shares and Units		Weighted Average Grant Date Fair Value		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	3,792		$	96.64	3,905		$	88.57	3,962		$	79.63
Granted	1,749		80.01		812		117.55		1,095		97.34
Released (1)	(855	)	96.93		(740	)	78.16		(929	)	61.51
Forfeited	(140	)	97.54		(185	)	92.12		(223	)	85.45
Outstanding at December 31 (2)	4,546		90.16		3,792		96.64		3,905		88.57

(1) The total intrinsic value of restricted stock and restricted stock units released during the years ended December 31, 2019, 2018 and 2017 was $70 million, $84 million and $91 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 December 31, 2019, 2018 and 2017 was $381 million, $331 million and $421 million, respectively.

Weighted Average Fair Values and Valuation Assumptions for Performance Units/Stocks

      Weighted average fair values and valuation assumptions used to value Performance Awards during the years ended December 31, 2019, 2018 and 2017 were as follows:

	2019			2018			2017
Weighted Average Fair Value of Grants	$	79.98		$	136.74		$	113.81
Expected Volatility	29.20		%	29.92		%	32.19		%
Risk-Free Interest Rate	1.51		%	2.85		%	1.60		%

Performance Unit and Performance Stock Transactions

The following table sets forth the Performance Award transactions for the years ended December 31, 2019, 2018 and 2017 (shares and units in thousands):

	2019						2018				2017
	Number of Units and Shares				Weighted Average Price per Grant Date		Number of Units and Shares		Weighted Average Price per Grant Date		Number of Units and Shares		Weighted Average Price per Grant Date
Outstanding at January 1	539				$	101.53	502		$	90.96	545		$	80.92
Granted	172				75.09		113		125.73		78		96.29
Granted for Performance Multiple (1)	72				69.43		72		101.87		119		84.43
Released (2)	(185	)			94.63		(148	)	84.43		(240	)	66.69
Forfeited	—				—		—		—		—		—
Outstanding at December 31 (3)	598		(4	)	92.19		539		101.53		502		90.96

(1) Upon completion of the Performance Period for the Performance Awards granted in 2015, 2014 and 2013, a performance multiple of 200% was applied to each of the grants resulting in additional grants of Performance Awards in February 2019, 2018 and 2017.

(2) The total intrinsic value of Performance Awards released during the years ended December 31, 2019, 2018 and 2017 was $15 million, $18 million and $24 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date Performance Awards are released.

(3) The total intrinsic value of Performance Awards outstanding at December 31, 2019, 2018 and 2017 was $50 million, $47 million and $54 million, respectively. The intrinsic value is based on the closing market price of the Common Stock on the last trading day of the year.

(4)

Upon the application of the relevant performance multiple at the completion of each of the remaining Performance Periods, a minimum of 102 and a maximum of 1,094 Performance Awards could be outstanding.