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Share Capital and Warrants (Tables) | 12 Months Ended
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Dec. 31, 2021
Disclosure of classes of share capital [abstract] |
Summary of Share Capital | B) Issued and Outstanding – Common Shares
| 2021 |  |  | 2020 |
| Number of Common Shares (thousands) |  |  | Amount |  |  | Number of Common Shares (thousands) |  |  | Amount |
Outstanding, Beginning of Year |  | 1,228,870 |  |  |  | 11,040 |  |  |  | 1,228,828 |  |  |  | 11,040 |
Issued Under the Arrangement, Net of Issuance Costs (Note 5A) |  | 788,518 |  |  |  | 6,111 |  |  |  | — |  |  |  | — |
Issued Upon Exercise of Warrants |  | 314 |  |  |  | 3 |  |  |  | — |  |  |  | — |
Issued Under Stock Option Plans |  | 535 |  |  |  | 7 |  |  |  | 42 |  |  |  | — |
Purchase of Common Shares under NCIB |  | (17,026) |  |  |  | (145) |  |  |  | — |  |  |  | — |
Outstanding, End of Year |  | 2,001,211 |  |  |  | 17,016 |  |  |  | 1,228,870 |  |  |  | 11,040 |
) Issued and Outstanding – Preferred Shares
As at December 31, 2021 | Number of Preferred Shares (thousands) |  |  | Amount |
Outstanding, Beginning of Year |  | — |  |  |  | — |
Issued Under the Arrangement (Note 5A) |  | 36,000 |  |  |  | 519 |
Outstanding, End of Year |  | 36,000 |  |  |  | 519 |
As at December 31, 2021 | Dividend Reset Date |  | Dividend Rate |  |  | Number of Preferred Shares (thousands) |
Series 1 First Preferred Shares | March 31, 2026 |  |  | 2.58 | % |  |  |  | 10,740 |
Series 2 First Preferred Shares | March 31, 2026 |  |  | 1.86 | % |  |  |  | 1,260 |
Series 3 First Preferred Shares | December 31, 2024 |  |  | 4.69 | % |  |  |  | 10,000 |
Series 5 First Preferred Shares | March 31, 2025 |  |  | 4.59 | % |  |  |  | 8,000 |
Series 7 First Preferred Shares | June 30, 2025 |  |  | 3.94 | % |  |  |  | 6,000 |
) Issued and Outstanding – Warrants
As at December 31, 2021 | Number of Warrants (thousands) |  |  | Amount |
Outstanding, Beginning of Year |  | — |  |  |  | — |
Issued Under the Arrangement (Note 5A) |  | 65,433 |  |  |  | 216 |
Exercised |  | (314) |  |  |  | (1) |
Outstanding, End of Year |  | 65,119 |  |  |  | 215 |
Disclosure of reserves within equity [text block] | Cenovus’s paid in surplus reflects the Company’s retained earnings prior to the split of Encana Corporation (“Encana”) under the plan of arrangement into two independent energy companies, Encana (now known as Ovintiv Inc.) and Cenovus (earnings prior to Encana split). In addition, paid in surplus includes stock-based compensation expense related to the Company’s NSRs discussed in Note 32 and the excess of the purchase price of common shares over their average carrying value for shares purchased under the NCIB.
| Earnings Prior to Encana Split |  |  | Stock-Based Compensation |  |  |  | Common Shares |  |  | Total |
As at December 31, 2019 |  | 4,086 |  |  |  | 291 |  |  |  | — |  |  |  | 4,377 |
Stock-Based Compensation Expense |  | — |  |  |  | 14 |  |  |  | — |  |  |  | 14 |
As at December 31, 2020 |  | 4,086 |  |  |  | 305 |  |  |  | — |  |  |  | 4,391 |
Stock-Based Compensation Expense |  | — |  |  |  | 14 |  |  |  | — |  |  |  | 14 |
Purchase of Common Shares Under NCIB |  | — |  |  |  | — |  |  |  | (120) |  |  |  | (120) |
Common Shares Issued on Exercise of Stock Options |  | — |  |  |  | (1) |  |  |  | — |  |  |  | (1) |
As at December 31, 2021 |  | 4,086 |  |  |  | 318 |  |  |  | (120) |  |  |  | 4,284 |

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