The Dallas Cowboys were awarded three compensatory picks in the 2014 NFL Draft, all in the seventh round.
This was in line with expectations. The picks were awarded on the basis of the Cowboys losing Victor Butler, Kenyon Coleman, Mike Jenkins, and John Phillips in free agency in 2013, while only picking up Justin Durant.
The picks are numbers 248, 251 and 254 overall. Dallas already has picks 229, 231 and 238 (corrected thanks to some math help in the comment thread).
Seventh-round picks, especially the ones at the very end of the round, are normally not seen as great values. But the Cowboys have a long history of finding undrafted free agents that can contribute (Tony Romo being the most notable example). This gives them a chance to lock up six players they think have been overlooked by the rest of the league. Will McClay and Tom Ciskowski have a chance to earn their money and find Dallas some gems in the last round.
Something that many might not be aware of is that, since comp picks were instituted in the NFL in 1994, Dallas is tied for getting the second most (33), with only the Baltimore Ravens having more with 41, according to the chart at the end of the press release. It shows that Jerry Jones and company don't make as many outrageous free agent signings as some believe.