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Stock-Based Payments (Tables)
 3 Months Ended
Mar. 31, 2021
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 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
March 31,
 20212020
Lease and Well$14 $15 
Gathering and Processing Costs— — 
Exploration Costs6 7 
General and Administrative15 18 
Total$35 $40 
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, 2021 and 2020 are as follows:
 Stock Options/SARsESPP
Three Months Ended
March 31,		Three Months Ended
March 31,
 2021202020212020
Weighted Average Fair Value of Grants$17.03 $19.67 $14.69 $20.80 
Expected Volatility47.18 %33.43 %54.99 %35.24 %
Risk-Free Interest Rate0.28 %1.43 %0.09 %1.56 %
Dividend Yield3.25 %1.60 %3.41 %1.56 %
Expected Life5.2 years5.0 years0.5 years0.5 years
Stock Options and SARs Transactions
The following table sets forth stock option and SAR transactions for the three-month periods ended March 31, 2021 and 2020 (stock options and SARs in thousands):
Three Months Ended
March 31, 2021		Three Months Ended
March 31, 2020
Number of
Stock
Options/SARs		Weighted
Average
Grant
Price		Number of
Stock
Options/SARs		Weighted
Average
Grant
Price
Outstanding at January 110,186 $84.08 9,395 $94.53 
Granted7 53.98 9 75.44 
Exercised (1)
(26)63.25 (23)69.59 
Forfeited(103)89.21 (47)96.81 
Outstanding at March 31 (2)
10,064 $84.06 9,334 $94.56 
Vested or Expected to Vest (3)
9,749 $84.74 8,998 $94.55 
Exercisable at March 31 (4)
6,288 $96.47 5,249 $94.33 
(1)The total intrinsic value of stock options/SARs exercised during the three months ended March 31, 2021 and 2020 was $0.2 million and $0.4 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, 2021 and 2020 was $71 million and zero, respectively. At March 31, 2021 and 2020, the weighted average remaining contractual life was 4.0 years.
(3)The total intrinsic value of stock options/SARs vested or expected to vest at March 31, 2021 and 2020 was $66 million and zero, respectively. At March 31, 2021 and 2020, the weighted average remaining contractual life was 4.0 years.
(4)The total intrinsic value of stock options/SARs exercisable at March 31, 2021 and 2020 was $3 million and zero, respectively. At March 31, 2021 and 2020, the weighted average remaining contractual life was 3.0 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, 2021 and 2020 (shares and units in thousands):
Three Months Ended
March 31, 2021		Three Months Ended
March 31, 2020
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 14,742 $74.97 4,546 $90.16 
Granted12 60.27 26 63.48 
Released (1)
(430)90.27 (259)88.19 
Forfeited(25)71.16 (11)89.86 
Outstanding at March 31 (2)
4,299 $73.42 4,302 $90.12 
(1)The total intrinsic value of restricted stock and restricted stock units released during the three months ended March 31, 2021 and 2020 was $31 million and $11 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, 2021 and 2020 was $312 million and $155 million, respectively.
Performance Award Transactions
The following table sets forth the performance unit transactions for the three-month periods ended March 31, 2021 and 2020 (units in thousands):
Three Months Ended
March 31, 2021		Three Months Ended
March 31, 2020
Number of
Units		Weighted
Average
Price per
Grant Date		Number of
Units		Weighted
Average
Price per
Grant Date
Outstanding at January 1613 $79.10 598 $92.19 
Granted8 49.86 — — 
Granted for Performance Multiple (1)
19 96.29 66 100.95 
Released (2)
(98)96.29 (121)104.69 
Forfeited— — — — 
Outstanding at March 31 (3)
542 (4)$76.18 543 $90.48 
(1)Upon completion of the Performance Period for the performance units granted in 2017 and 2016, a performance multiple of 125% and 150%, respectively, was applied to each of the grants resulting in additional grants of performance units in February 2021 and February 2020, respectively.
(2)The total intrinsic value of performance units released during the three months ended March 31, 2021 and 2020 was $6 million and $9 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date the performance units are released.
(3)The total intrinsic value of performance units outstanding at March 31, 2021 and 2020 was approximately $39 million and $20 million, respectively.
(4)Upon the application of the relevant performance multiple at the completion of each of the remaining Performance Periods, a minimum of 76,785 and a maximum of 1,007,705 performance units could be outstanding.