XML 38 R27.htm IDEA: XBRL DOCUMENT
v3.20.2

Revenue from Contracts with Customers (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2020
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | For the three-month and nine-month periods ended September 30, 2020, the Company recognized $425.3 million and $1,311.6 million, respectively, from contracts with customers for the sales of oil, natural gas liquids and natural gas. For the three-month and nine-month periods ended September 30, 2019, the Company recognized $750.3 million and $2,060.1 million respectively, from contracts with customers for the sales of oil, natural gas liquids and natural gas.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(Thousands of dollars) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Net crude oil and condensate revenue |  |  |  |  |  |  |
United States | Onshore | $ | 86,498 |  |  | 219,515 |  |  | 272,284 |  |  | 547,756 |
| Offshore | 216,918 |  |  | 398,518 |  |  | 714,143 |  |  | 1,090,462 |
Canada | Onshore | 32,358 |  |  | 31,758 |  |  | 67,268 |  |  | 88,730 |
| Offshore | 19,173 |  |  | 28,407 |  |  | 54,864 |  |  | 115,686 |
Other |  | — |  |  | 1,933 |  |  | 1,806 |  |  | 7,908 |
Total crude oil and condensate revenue | 354,947 |  |  | 680,131 |  |  | 1,110,365 |  |  | 1,850,542 |
Net natural gas liquids revenue |  |  |  |  |  |  |
United States | Onshore | 6,766 |  |  | 5,557 |  |  | 16,145 |  |  | 22,497 |
| Offshore | 4,765 |  |  | 8,414 |  |  | 13,255 |  |  | 18,184 |
Canada | Onshore | 2,780 |  |  | 2,751 |  |  | 6,090 |  |  | 8,987 |
Total natural gas liquids revenue | 14,311 |  |  | 16,722 |  |  | 35,490 |  |  | 49,668 |
Net natural gas revenue |  |  |  |  |  |  |
United States | Onshore | 4,529 |  |  | 5,848 |  |  | 14,177 |  |  | 20,762 |
| Offshore | 9,827 |  |  | 15,879 |  |  | 35,487 |  |  | 29,575 |
Canada | Onshore | 41,710 |  |  | 31,757 |  |  | 116,108 |  |  | 109,580 |
Total natural gas revenue | 56,066 |  |  | 53,484 |  |  | 165,772 |  |  | 159,917 |
Total revenue from contracts with customers | 425,324 |  |  | 750,337 |  |  | 1,311,627 |  |  | 2,060,127 |
(Loss) gain on crude contracts | (5,290) |  |  | 63,247 |  |  | 319,502 |  |  | 121,163 |
Gain on sale of assets and other income | 1,831 |  |  | 3,493 |  |  | 6,006 |  |  | 10,283 |
Total revenue and other income | $ | 421,865 |  |  | 817,077 |  |  | 1,637,135 |  |  | 2,191,573 |
Current Long-Term Contracts Outstanding | As of September 30, 2020, the Company had the following sales contracts in place which are expected to generate revenue from sales to customers for a period of more than 12 months starting at the inception of the contract: ໿
Current Long-Term Contracts Outstanding at September 30, 2020
|  |  |  |  |  |  |  | Approximate Volumes
Location |  | Commodity |  | End Date |  | Description |
U.S. |  | Oil |  | Q4 2021 |  | Fixed quantity delivery in Eagle Ford |  | 17,000 BOED
U.S. |  | Natural Gas and NGL |  | Q1 2023 |  | Deliveries from dedicated acreage in Eagle Ford |  | As produced
Canada |  | Natural Gas |  | Q4 2020 |  | Contracts to sell natural gas at Alberta AECO fixed prices |  | 59 MMCFD
Canada |  | Natural Gas |  | Q4 2020 |  | Contracts to sell natural gas at USD Index pricing |  | 60 MMCFD
Canada |  | Natural Gas |  | Q4 2021 |  | Contracts to sell natural gas at USD Index pricing |  | 10 MMCFD
Canada |  | Natural Gas |  | Q4 2022 |  | Contracts to sell natural gas at Malin USD fixed prices |  | 20 MMCFD
Canada |  | Natural Gas |  | Q4 2022 |  | Contracts to sell natural gas at USD Index pricing |  | 35 MMCFD
Canada |  | Natural Gas |  | Q4 2024 |  | Contracts to sell natural gas at USD Index pricing |  | 30 MMCFD
Canada |  | Natural Gas |  | Q4 2026 |  | Contracts to sell natural gas at USD Index pricing |  | 49 MMCFD

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of expected timing for satisfying remaining performance obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(1) -URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130556-203045 + Details
Name: | us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration