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SUPPLEMENTARY OIL & GAS INFORMATION (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2018
Extractive Industries [Abstract]  
Schedule of Twelve Month Average Benchmark Prices
The Company has used the following 12-month average benchmark prices to determine its 2018 reserves for SEC requirements.
Crude Oil and NGLs      
 
Natural Gas
WTI Cushing Oklahoma
 

 
WCS

 
Canadian Light Sweet

 
Cromer LSB

 
North Sea Brent

 
Edmonton C5+

 
Henry Hub Louisiana

 
AECO

 
BC Westcoast Station 2

(US$/bbl)

 
(C$/bbl)

 
(C$/bbl)

 
(C$/bbl)

 
(US$/bbl)

 
(C$/bbl)


(US$/MMBtu)

 
(C$/MMBtu)

 
(C$/MMBtu)

65.55

 
53.67

 
70.32

 
75.54

 
72.09

 
80.65

 
3.02

 
1.46

 
1.25
Schedule of Natural Gas Net Proved Reserve Quantities
The following tables summarize the Company's proved and proved developed crude oil and natural gas reserves, net of royalties, as at December 31, 2018, 2017, 2016, and 2015:
 
 
North America
 
 
 
 
 
 
Crude Oil and NGLs (MMbbl)
 
Synthetic
Crude Oil

 
Bitumen(1)

 
Crude Oil
& NGLs

 
North
America
Total

 
North
 Sea

 
Offshore
Africa

 
Total

Net Proved Reserves
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reserves, December 31, 2015
 
2,283

 
1,263

 
471

 
4,017

 
119

 
73

 
4,209

Extensions and discoveries
 
—

 
46

 
15

 
61

 
—

 
—

 
61

Improved recovery
 
—

 
5

 
14

 
19

 
1

 
2

 
22

Purchases of reserves in place
 
—

 
3

 
15

 
18

 
—

 
—

 
18

Sales of reserves in place
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Production
 
(45
)
 
(71
)
 
(43
)
 
(159
)
 
(9
)
 
(8
)
 
(176
)
Economic revisions due to prices
 
108

 
23

 
(19
)
 
112

 
(10
)
 
1

 
103

Revisions of prior estimates
 
196

 
32

 
51

 
279

 
(8
)
 
6

 
277

Reserves, December 31, 2016
 
2,542

 
1,301

 
504

 
4,347

 
93

 
74

 
4,514

Extensions and discoveries
 
—

 
28

 
17

 
45

 
—

 
—

 
45

Improved recovery
 
—

 
7

 
19

 
26

 
1

 
—

 
27

Purchases of reserves in place
 
2,232

 
37

 
67

 
2,336

 
—

 
—

 
2,336

Sales of reserves in place
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Production
 
(100
)
 
(70
)
 
(44
)
 
(214
)
 
(9
)
 
(6
)
 
(229
)
Economic revisions due to prices
 
—

 
18

 
17

 
35

 
18

 
1

 
54

Revisions of prior estimates
 
282

 
44

 
14

 
340

 
4

 
—

 
344

Reserves, December 31, 2017
 
4,956

 
1,365

 
594

 
6,915

 
107

 
69

 
7,091

Extensions and discoveries
 
744

 
151

 
17

 
912

 
—

 
—

 
912

Improved recovery
 
—

 
10

 
50

 
60

 
1

 
3

 
64

Purchases of reserves in place
 
—

 
2

 
7

 
9

 
7

 
—

 
16

Sales of reserves in place
 
—

 
(4
)
 
—

 
(4
)
 
—

 
—

 
(4
)
Production
 
(148
)
 
(64
)
 
(47
)
 
(259
)
 
(9
)
 
(6
)
 
(274
)
Economic revisions due to prices
 
—

 
(45
)
 
(18
)
 
(63
)
 
11

 
1

 
(51
)
Revisions of prior estimates
 
109

 
54

 
1

 
164

 
(3
)
 
4

 
165

Reserves, December 31, 2018
 
5,661

 
1,469

 
604

 
7,734

 
114

 
71

 
7,919

Net proved developed reserves
 
 

 
 

 
 

 
 

 
 

 
 

 
 

December 31, 2015
 
2,194

 
411

 
341

 
2,946

 
3

 
41

 
2,990

December 31, 2016
 
2,527

 
384

 
353

 
3,264

 
12

 
31

 
3,307

December 31, 2017
 
4,967

 
410

 
399

 
5,776

 
28

 
21

 
5,825

December 31, 2018
 
5,661

 
461

 
378

 
6,500

 
37

 
34

 
6,571

(1)
Bitumen as defined by the SEC, "is petroleum in a solid or semi-solid state in natural deposits with a viscosity greater than 10,000 centipoise measured at original temperature in the deposit and atmospheric pressure, on a gas free basis." Under this definition, all the Company's thermal and primary heavy crude oil reserves have been classified as bitumen.
Natural Gas (Bcf)
 
North
 America

 
North
 Sea

 
Offshore
 Africa

 
Total

Net Proved Reserves
 
 
 
 
 
 
 
 
Reserves, December 31, 2015
 
4,523

 
38

 
21

 
4,582

Extensions and discoveries
 
176

 
—

 
—

 
176

Improved recovery
 
166

 
—

 
3

 
169

Purchases of reserves in place
 
85

 
—

 
—

 
85

Sales of reserves in place
 
(5
)
 
—

 
—

 
(5
)
Production
 
(571
)
 
(14
)
 
(11
)
 
(596
)
Economic revisions due to prices
 
(572
)
 
(10
)
 
1

 
(581
)
Revisions of prior estimates
 
792

 
11

 
11

 
814

Reserves, December 31, 2016
 
4,594

 
25

 
25

 
4,644

Extensions and discoveries
 
261

 
—

 
—

 
261

Improved recovery
 
179

 
—

 
—

 
179

Purchases of reserves in place
 
106

 
—

 
—

 
106

Sales of reserves in place
 
—

 
—

 
—

 
—

Production
 
(558
)
 
(14
)
 
(7
)
 
(579
)
Economic revisions due to prices
 
403

 
5

 
(1
)
 
407

Revisions of prior estimates
 
214

 
9

 
(1
)
 
222

Reserves, December 31, 2017
 
5,199

 
25

 
16

 
5,240

Extensions and discoveries
 
90

 
—

 
—

 
90

Improved recovery
 
414

 
—

 
—

 
414

Purchases of reserves in place
 
67

 
—

 
—

 
67

Sales of reserves in place
 
(3
)
 
—

 
—

 
(3
)
Production
 
(523
)
 
(11
)
 
(8
)
 
(542
)
Economic revisions due to prices
 
(746
)
 
—

 
(2
)
 
(748
)
Revisions of prior estimates
 
(192
)
 
13

 
15

 
(164
)
Reserves, December 31, 2018
 
4,306

 
27

 
21

 
4,354

Net proved developed reserves
 
 

 
 

 
 

 
 

December 31, 2015
 
2,883

 
26

 
15

 
2,924

December 31, 2016
 
2,805

 
18

 
18

 
2,841

December 31, 2017
 
3,081

 
22

 
9

 
3,112

December 31, 2018
 
2,382

 
23

 
12

 
2,417
Schedule of Capitalized Costs Relating To Oil And Gas Producing Activities Disclosure
Capitalized Costs Related to Crude Oil and Natural Gas Activities
 
 
2018
(millions of Canadian dollars)
 
North
 America

 
North
 Sea

 
Offshore 
 Africa

 
Total

Proved properties
 
$
110,154

 
$
7,321

 
$
5,471

 
$
122,946

Unproved properties
 
2,600

 
—

 
37

 
2,637

 
 
112,754

 
7,321

 
5,508

 
125,583

Less: accumulated depletion and depreciation
 
(48,862
)
 
(5,735
)
 
(4,203
)
 
(58,800
)
Net capitalized costs
 
$
63,892

 
$
1,586

 
$
1,305

 
$
66,783

 
 
 
2017
(millions of Canadian dollars)
 
North
 America

 
North
 Sea

 
Offshore
 Africa

 
Total

Proved properties
 
$
106,900

 
$
7,126

 
$
4,881

 
$
118,907

Unproved properties
 
2,541

 
—

 
91

 
2,632

 
 
109,441

 
7,126

 
4,972

 
121,539

Less: accumulated depletion and depreciation
 
(44,779
)
 
(5,653
)
 
(3,719
)
 
(54,151
)
Net capitalized costs
 
$
64,662

 
$
1,473

 
$
1,253

 
$
67,388

 
 
 
2016
(millions of Canadian dollars)
 
North
 America

 
North
 Sea

 
Offshore
 Africa

 
Total

Proved properties
 
$
88,685

 
$
7,380

 
$
5,132

 
$
101,197

Unproved properties
 
2,306

 
—

 
76

 
2,382

 
 
90,991

 
7,380

 
5,208

 
103,579

Less: accumulated depletion and depreciation
 
(41,139
)
 
(5,584
)
 
(3,797
)
 
(50,520
)
Net capitalized costs
 
$
49,852

 
$
1,796

 
$
1,411

 
$
53,059
Disclosure of Detailed Information About Costs Incurred In Crude Oil And Natural Gas Activities
Costs Incurred in Crude Oil and Natural Gas Activities
 
 
2018
(millions of Canadian dollars)
 
North
 America

 
North
 Sea

 
Offshore
 Africa

 
Total

Property acquisitions
 
 
 
 
 
 
 
 
Proved
 
$
214

 
$
127

 
$
—

 
$
341

Unproved
 
340

 
—

 
(89
)
 
251

Exploration
 
116

 
—

 
35

 
151

Development
 
3,245

 
110

 
212

 
3,567

Costs incurred
 
$
3,915

 
$
237

 
$
158

 
$
4,310

 
 
 
2017
(millions of Canadian dollars)
 
North
 America

 
North
 Sea

 
Offshore
 Africa

 
Total

Property acquisitions
 
 

 
 

 
 

 
 

Proved
 
$
15,091

 
$
—

 
$
—

 
$
15,091

Unproved
 
321

 
—

 
—

 
321

Exploration
 
112

 
—

 
15

 
127

Development
 
3,753

 
255

 
101

 
4,109

Costs incurred
 
$
19,277

 
$
255

 
$
116

 
$
19,648

 
 
 
2016
(millions of Canadian dollars)
 
North
 America

 
North
 Sea

 
Offshore
 Africa

 
Total

Property acquisitions
 
 

 
 

 
 

 
 

Proved
 
$
50

 
$
—

 
$
—

 
$
50

Unproved
 
—

 
—

 
—

 
—

Exploration
 
17

 
—

 
9

 
26

Development
 
4,125

 
186

 
116

 
4,427

Costs incurred
 
$
4,192

 
$
186

 
$
125

 
$
4,503
Disclosure Of Detailed Information About Results Of Operations From Crude Oil And Natural Gas Activities [Table Text Block]
The Company's results of operations from crude oil and natural gas producing activities for the years ended December 31, 2018, 2017, and 2016 are summarized in the following tables:
 
 
2018
(millions of Canadian dollars)
 
North
 America

 
North
 Sea

 
Offshore
 Africa

 
Total

Crude oil and natural gas revenue, net of royalties, blending and feedstock costs
 
$
16,065

 
$
891

 
$
647

 
$
17,603

Production
 
(5,772
)
 
(405
)
 
(208
)
 
(6,385
)
Transportation
 
(929
)
 
(22
)
 
(2
)
 
(953
)
Depletion, depreciation and amortization
 
(4,689
)
 
(257
)
 
(201
)
 
(5,147
)
Asset retirement obligation accretion
 
(148
)
 
(29
)
 
(9
)
 
(186
)
Petroleum revenue tax
 
—

 
12

 
—

 
12

Income tax
 
(1,223
)
 
(76
)
 
(51
)
 
(1,350
)
Results of operations
 
$
3,304

 
$
114

 
$
176

 
$
3,594

 
 
 
2017
(millions of Canadian dollars)
 
North
 America

 
North
 Sea

 
Offshore
 Africa

 
Total

Crude oil and natural gas revenue, net of royalties, blending and feedstock costs
 
$
13,083

 
$
784

 
$
578

 
$
14,445

Production
 
(4,962
)
 
(400
)
 
(226
)
 
(5,588
)
Transportation
 
(790
)
 
(31
)
 
(1
)
 
(822
)
Depletion, depreciation and amortization
 
(4,463
)
 
(509
)
 
(205
)
 
(5,177
)
Asset retirement obligation accretion
 
(128
)
 
(27
)
 
(9
)
 
(164
)
Petroleum revenue tax
 
—

 
78

 
—

 
78

Income tax
 
(740
)
 
42

 
(28
)
 
(726
)
Results of operations
 
$
2,000

 
$
(63
)
 
$
109

 
$
2,046

 
 
 
2016
(millions of Canadian dollars)
 
North
 America

 
North
 Sea

 
Offshore
 Africa

 
Total

Crude oil and natural gas revenue, net of royalties, blending and feedstock costs
 
$
7,791

 
$
565

 
$
577

 
$
8,933

Production
 
(3,478
)
 
(403
)
 
(200
)
 
(4,081
)
Transportation
 
(623
)
 
(48
)
 
(2
)
 
(673
)
Depletion, depreciation and amortization
 
(4,127
)
 
(458
)
 
(262
)
 
(4,847
)
Asset retirement obligation accretion
 
(95
)
 
(35
)
 
(12
)
 
(142
)
Petroleum revenue tax
 
—

 
333

 
—

 
333

Income tax
 
143

 
18

 
(22
)
 
139

Results of operations
 
$
(389
)
 
$
(28
)
 
$
79

 
$
(338
)
Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure
The following tables summarize the Company's future net cash flows relating to proved crude oil and natural gas reserves based on the standardized measure as prescribed in FASB Topic 932 - "Extractive Activities - Oil and Gas":
 
 
2018
(millions of Canadian dollars)
 
North
 America

 
North
 Sea

 
Offshore
 Africa

 
Total

Future cash inflows
 
$
500,557

 
$
12,002

 
$
6,447

 
$
519,006

Future production costs
 
(193,387
)
 
(5,148
)
 
(2,284
)
 
(200,819
)
Future development costs and asset retirement obligations
 
(63,202
)
 
(2,909
)
 
(1,099
)
 
(67,210
)
Future income taxes
 
(60,526
)
 
(1,484
)
 
(626
)
 
(62,636
)
Future net cash flows
 
183,442

 
2,461

 
2,438

 
188,341

10% annual discount for timing of future cash flows
 
(126,699
)
 
(545
)
 
(771
)
 
(128,015
)
Standardized measure of future net cash flows
 
$
56,743

 
$
1,916

 
$
1,667

 
$
60,326

 
 
 
2017
(millions of Canadian dollars)
 
North
 America

 
North
 Sea

 
Offshore
 Africa

 
Total

Future cash inflows
 
$
413,180

 
$
8,740

 
$
4,786

 
$
426,706

Future production costs
 
(198,304
)
 
(4,168
)
 
(1,876
)
 
(204,348
)
Future development costs and asset retirement obligations
 
(61,169
)
 
(2,853
)
 
(1,258
)
 
(65,280
)
Future income taxes
 
(35,645
)
 
(595
)
 
(248
)
 
(36,488
)
Future net cash flows
 
118,062

 
1,124

 
1,404

 
120,590

10% annual discount for timing of future cash flows
 
(73,171
)
 
(59
)
 
(455
)
 
(73,685
)
Standardized measure of future net cash flows
 
$
44,891

 
$
1,065

 
$
949

 
$
46,905

 
 
2016
(millions of Canadian dollars)
 
North
 America

 
North
 Sea

 
Offshore
 Africa

 
Total

Future cash inflows
 
$
206,729

 
$
5,999

 
$
4,129

 
$
216,857

Future production costs
 
(92,070
)
 
(3,284
)
 
(1,659
)
 
(97,013
)
Future development costs and asset retirement obligations
 
(42,167
)
 
(3,249
)
 
(1,234
)
 
(46,650
)
Future income taxes
 
(15,396
)
 
280

 
(125
)
 
(15,241
)
Future net cash flows
 
57,096

 
(254
)
 
1,111

 
57,953

10% annual discount for timing of future cash flows
 
(33,590
)
 
271

 
(319
)
 
(33,638
)
Standardized measure of future net cash flows
 
$
23,506

 
$
17

 
$
792

 
$
24,315
Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows
The principal sources of change in the standardized measure of discounted future net cash flows are summarized in the following table:
(millions of Canadian dollars)
 
2018

 
2017

 
2016

Sales of crude oil and natural gas produced, net of production costs
 
$
(10,229
)
 
$
(8,013
)
 
$
(4,159
)
Net changes in sales prices and production costs
 
20,386

 
7,466

 
(7,305
)
Extensions, discoveries and improved recovery
 
2,807

 
481

 
700

Changes in estimated future development costs
 
(698
)
 
(5,548
)
 
1,750

Purchases of proved reserves in place
 
396

 
25,782

 
352

Sales of proved reserves in place
 
(55
)
 
—

 
(2
)
Revisions of previous reserve estimates
 
2,711

 
4,245

 
3,668

Accretion of discount
 
6,119

 
3,075

 
3,527

Changes in production timing and other
 
(955
)
 
(662
)
 
(2,137
)
Net change in income taxes
 
(7,061
)
 
(4,236
)
 
385

Net change
 
13,421

 
22,590

 
(3,221
)
Balance - beginning of year
 
46,905

 
24,315

 
27,536

Balance - end of year
 
$
60,326

 
$
46,905

 
$
24,315