Share-Based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2017 |
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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| Schedule of Share-based Compensation Expense |
The following table presents share-based compensation expense for each respective period:
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For the Year Ended December 31, |
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2017 |
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2016 |
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2015 |
Share-based compensation cost for: |
Equity-based |
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Liability-based |
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Equity-based |
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Liability-based |
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Equity-based |
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Liability-based |
RSU equity awards (a)
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$ |
10,225 |
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$ |
— |
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$ |
4,536 |
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$ |
— |
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$ |
3,797 |
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$ |
— |
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Cash-settleable RSU awards (a)
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— |
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4,294 |
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— |
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12,285 |
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— |
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11,437 |
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401(k) CPE stock fund contributions |
313 |
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— |
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277 |
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— |
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266 |
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— |
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Total share-based compensation cost (b)
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$ |
10,538 |
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$ |
4,294 |
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$ |
4,813 |
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$ |
12,285 |
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$ |
4,063 |
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$ |
11,437 |
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(a) |
Includes the settlement of the outstanding share-based award agreements of the Company’s former Chief Executive Officer, resulting in $6,351 recorded on the Consolidated Statements of Operations as Settled share-based awards for the year ended December 31, 2017.
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(b) |
The portion of this share-based compensation cost that was included in general and administrative expense totaled $5,194, $9,722 and $9,299 for the years ended December 31, 2017, 2016 and 2015, respectively, and the portion capitalized to oil and gas properties was $3,287, $7,376 and $6,201, for the years ended December 31, 2017, 2016, and 2015, respectively.
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| Schedule of Unrecognized Compensation Cost |
The following table presents the unrecognized compensation cost for the indicated periods:
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December 31, |
Unrecognized compensation cost related to: |
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2017 |
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2016 |
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2015 |
Unvested RSU equity awards |
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$ |
13,158 |
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$ |
7,276 |
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$ |
5,208 |
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Unvested cash-settleable RSU awards |
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3,776 |
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8,948 |
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4,728 |
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| Summary of Liability for Cash-Settled RSU Awards |
The following table summarizes the Company’s liability for cash-settled RSU awards for the periods indicated:
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December 31, |
Consolidated Balance Sheets Classification |
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2017 |
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2016 |
Cash-settled RSU awards (current) |
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$ |
4,621 |
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$ |
8,919 |
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Cash-settled RSU awards (non-current) |
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3,490 |
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8,071 |
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Total cash-settled RSU awards |
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$ |
8,111 |
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$ |
16,990 |
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| Schedule of Unvested Restricted Stock Units Activity |
The following table represents unvested restricted stock activity for the year ended December 31, 2017:
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Weighted average |
(shares in 000s) |
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Number of Shares |
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Grant-Date Fair Value per Share |
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Years Over Which Expense is Expected to be Recognized |
Outstanding at the beginning of the period |
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1,448 |
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$ |
10.81 |
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Granted (a)(b)
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1,173 |
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12.25 |
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Vested (b)(c)
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(797 |
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11.35 |
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Forfeited |
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(34 |
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9.57 |
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Outstanding at the end of the period |
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1,790 |
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$ |
11.54 |
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1.94 |
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(a) |
Includes 89 market-based RSUs that will vest at a range of 0% - 200%. See Note 8 for additional information about market-based RSU equity awards.
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(b) |
Includes 73 market-based RSUs that were granted and subsequently vested at 142% of their issued units in 2017.
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(c) |
The fair value of shares vested was $9,045.
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| Schedule of Cash-Settleable RSUs Outstanding |
As of December 31, 2017, the Company had the following cash-settleable RSUs outstanding (including those that are not based on a market condition):
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(shares in 000s) |
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Base Units Outstanding |
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Potential Minimum Units Vesting |
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Potential Maximum Units Vesting |
Vesting in 2018 |
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165 |
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13 |
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316 |
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Vesting in 2019 |
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200 |
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17 |
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384 |
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Vesting in 2020 |
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— |
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— |
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— |
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Other |
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203 |
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203 |
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203 |
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Total cash-settleable RSUs |
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568 |
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233 |
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903 |
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