Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.8.0.1
Stock-Based Compensation
 9 Months Ended
Sep. 30, 2017
Share-based Compensation [Abstract]  
Stock-Based Compensation
STOCK-BASED COMPENSATION
During the three and nine months ended September 30, 2017, the Company’s stock-based compensation cost was $2.8 million and $8.0 million, respectively, of which the Company capitalized $1.1 million and $3.2 million, respectively, relating to its exploration and development efforts. During the three and nine months ended September 30, 2016, the Company's stock-based compensation cost was $3.0 million and $9.6 million, respectively, of which the Company capitalized $1.2 million and $3.8 million, respectively, relating to its exploration and development efforts.
The following table summarizes restricted stock activity for the nine months ended September 30, 2017:
 
 
Number of
Unvested
Restricted Shares
 
Weighted
Average
Grant Date
Fair Value
Unvested shares as of January 1, 2017
613,056

 
$
32.90

Granted
870,358

 
15.15

Vested
(399,843
)
 
28.77

Forfeited
(74,024
)
 
30.45

Unvested shares as of September 30, 2017
1,009,547

 
$
19.42


Unrecognized compensation expense as of September 30, 2017 related to restricted shares was $17.2 million. The expense is expected to be recognized over a weighted average period of 1.61 years.