Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.5.0.2
Stock-Based Compensation
 6 Months Ended
Jun. 30, 2016
Share-based Compensation [Abstract]  
Stock-Based Compensation
STOCK-BASED COMPENSATION
During the three and six months ended June 30, 2016 , the Company’s stock-based compensation cost was $3.3 million and $6.6 million, respectively, of which the Company capitalized $1.3 million and $2.6 million, respectively, relating to its exploration and development efforts. During the three and six months ended June 30, 2015, the Company’s stock-based compensation cost was $3.2 million and $6.7 million, respectively, of which the Company capitalized $1.3 million and $2.7 million, respectively, relating to its exploration and development efforts.
 The following table summarizes restricted stock activity for the six months ended June 30, 2016:
 
 
Number of
Unvested
Restricted Shares
 
Weighted
Average
Grant Date
Fair Value
Unvested shares as of January 1, 2016
484,239

 
$
43.51

Granted
255,204

 
27.71

Vested
(137,916
)
 
47.31

Forfeited
(8,042
)
 
34.76

Unvested shares as of June 30, 2016
593,485

 
$
35.95


Unrecognized compensation expense as of June 30, 2016 related to restricted shares was $16.0 million. The expense is expected to be recognized over a weighted average period of 1.69 years.