Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2017

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Weighted-Average Assumptions Used to Estimate Grant Date Fair Values for Stock Options Granted

Weighted-average assumptions used to estimate the grant date fair values for stock options granted for the three and six month periods ended June 30, 2016 follow:

	Three Months Ended			Six Months Ended
	June 30,			June 30,
	2016			2016
Volatility		34.87	%		35.13	%
Expected term (in years)		5.00			5.00
Dividend yield		2.16	%		2.19	%
Risk-free interest rate		1.40	%		1.42	%

Stock Option Activity

Stock option activity from January 1, 2017 to June 30, 2017 follows:

				Weighted
				Average
	Underlying			Exercise Price
	Shares			Per Share
Outstanding at January 1, 2017		6,687,150		$	20.68
Exercised		(10,000	)	$	22.29
Expired		(600,000	)	$	24.17
Outstanding at June 30, 2017		6,077,150		$	20.34
Exercisable at June 30, 2017		5,271,650		$	20.53

Restricted Stock Activity

Restricted stock activity from January 1, 2017 to June 30, 2017 follows:

				Weighted
				Average Grant
				Date Fair Value
	Shares			Per Share
Non-vested restricted stock outstanding at January 1, 2017		1,427,455		$	22.26
Granted		890,904		$	21.78
Vested		(674,852	)	$	23.94
Forfeited		(14,853	)	$	22.92
Non-vested restricted stock outstanding at June 30, 2017		1,628,654		$	21.30

Restricted Stock Unit Activity

Restricted stock unit activity from January 1, 2017 to June 30, 2017 follows:

				Weighted
				Average Grant
				Date Fair Value
	Shares			Per Share
Non-vested restricted stock units outstanding at January 1, 2017		191,655		$	19.85
Assumed (1)		505,551		$	22.45
Vested		(34,189	)	$	24.35
Forfeited		(17,781	)	$	22.27
Non-vested restricted stock units outstanding at June 30, 2017		645,236		$	21.58

(1) Restricted stock unit awards under the Seventy Seven Energy Inc. 2016 Omnibus Incentive Plan, which was adopted, assumed, amended and renamed by the Company in connection with the SSE merger. No additional awards will be made under this plan.  

Performance Units

The total target number of shares with respect to the Performance Units for the awards in 2013-2017 is set forth below:

	2017		2016		2015		2014		2013
	Performance		Performance		Performance		Performance		Performance
	Unit Awards		Unit Awards		Unit Awards		Unit Awards		Unit Awards
Target number of shares		186,198		185,000		190,600		154,000		236,500

Fair Value of Performance Units

The fair value of the Performance Units is set forth below (in thousands):

	2017		2016		2015		2014		2013
	Performance		Performance		Performance		Performance		Performance
	Unit Awards		Unit Awards		Unit Awards		Unit Awards		Unit Awards
Fair value at date of grant	$	5,780	$	3,854	$	4,052	$	5,388	$	5,564

Compensation Expense Associated with Performance Units

These fair value amounts are charged to expense on a straight-line basis over the performance period. Compensation expense associated with the Performance Units is shown below (in thousands):

	2017		2016		2015		2014		2013
	Performance		Performance		Performance		Performance		Performance
	Unit Awards		Unit Awards		Unit Awards		Unit Awards		Unit Awards
Three months ended June 30, 2017	$	321	$	321	$	338	NA		NA
Three months ended June 30, 2016	NA		$	321	$	338	$	449	NA
Six months ended June 30, 2017	$	321	$	642	$	675	$	449	NA
Six months ended June 30, 2016	NA		$	321	$	675	$	898	$	464