Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.7.0.1
Stock-Based Compensation
 6 Months Ended
Jun. 30, 2017
Share-based Compensation [Abstract]  
Stock-Based Compensation
STOCK-BASED COMPENSATION
During the three and six months ended June 30, 2017, the Company’s stock-based compensation cost was $2.6 million and $5.2 million, respectively, of which the Company capitalized $1.1 million and $2.1 million, respectively, relating to its exploration and development efforts. 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.
The following table summarizes restricted stock activity for the six months ended June 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
525,808

 
17.31

Vested
(172,988
)
 
32.06

Forfeited
(66,661
)
 
31.18

Unvested shares as of June 30, 2017
899,215

 
$
24.08


Unrecognized compensation expense as of June 30, 2017 related to restricted shares was $16.1 million. The expense is expected to be recognized over a weighted average period of 1.59 years.