XML 36 R25.htm IDEA: XBRL DOCUMENT
v3.21.2

Revenue from Contracts with Customers (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | For the three-month and nine-month periods ended September 30, 2021, the Company recognized $687.5 million and $2,038.9 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, 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.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(Thousands of dollars) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Net crude oil and condensate revenue |  |  |  |  |  |  |
United States | Onshore | $ | 167,010 |  |  | 86,498 |  |  | 464,767 |  |  | 272,284 |
| Offshore | 340,001 |  |  | 216,918 |  |  | 1,079,418 |  |  | 714,143 |
Canada | Onshore | 29,110 |  |  | 32,358 |  |  | 89,708 |  |  | 67,268 |
| Offshore | 20,499 |  |  | 19,173 |  |  | 70,333 |  |  | 54,864 |
Other |  | — |  |  | — |  |  | — |  |  | 1,806 |
Total crude oil and condensate revenue | 556,620 |  |  | 354,947 |  |  | 1,704,226 |  |  | 1,110,365 |
Net natural gas liquids revenue |  |  |  |  |  |  |
United States | Onshore | 16,356 |  |  | 6,766 |  |  | 33,480 |  |  | 16,145 |
| Offshore | 11,046 |  |  | 4,765 |  |  | 31,866 |  |  | 13,255 |
Canada | Onshore | 4,501 |  |  | 2,780 |  |  | 11,728 |  |  | 6,090 |
Total natural gas liquids revenue | 31,903 |  |  | 14,311 |  |  | 77,074 |  |  | 35,490 |
Net natural gas revenue |  |  |  |  |  |  |
United States | Onshore | 11,127 |  |  | 4,529 |  |  | 24,442 |  |  | 14,177 |
| Offshore | 17,444 |  |  | 9,827 |  |  | 56,855 |  |  | 35,487 |
Canada | Onshore | 70,455 |  |  | 41,710 |  |  | 176,308 |  |  | 116,108 |
Total natural gas revenue | 99,026 |  |  | 56,066 |  |  | 257,605 |  |  | 165,772 |
Total revenue from contracts with customers | 687,549 |  |  | 425,324 |  |  | 2,038,905 |  |  | 1,311,627 |
(Loss) gain on derivative instruments | (59,164) |  |  | (5,290) |  |  | (499,794) |  |  | 319,502 |
Gain on sale of assets and other income | 2,315 |  |  | 1,831 |  |  | 21,217 |  |  | 6,006 |
Total revenue and other income | $ | 630,700 |  |  | 421,865 |  |  | 1,560,328 |  |  | 1,637,135 |
Current Long-Term Contracts Outstanding | As of September 30, 2021, 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, 2021
Location |  | Commodity |  | End Date |  | Description |  | Approximate Volumes
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 2021 |  | Contracts to sell natural gas at USD index pricing |  | 10 MMCFD
Canada |  | Natural Gas |  | Q4 2022 |  | Contracts to sell natural gas at USD index pricing |  | 8 MMCFD
Canada |  | Natural Gas |  | Q4 2022 |  | Contracts to sell natural gas at CAD fixed prices |  | 5 MMCFD
Canada |  | Natural Gas |  | Q4 2022 |  | Contracts to sell natural gas at USD fixed pricing |  | 20 MMCFD
Canada |  | Natural Gas |  | Q4 2023 | 1 | Contracts to sell natural gas at USD index pricing |  | 25 MMCFD
Canada |  | Natural Gas |  | Q4 2023 |  | Contracts to sell natural gas at CAD fixed prices |  | 38 MMCFD
Canada |  | Natural Gas |  | Q4 2024 |  | Contracts to sell natural gas at USD index pricing |  | 31 MMCFD
Canada |  | Natural Gas |  | Q4 2024 |  | Contracts to sell natural gas at CAD fixed prices |  | 100 MMCFD
Canada |  | Natural Gas |  | Q4 2024 | 1 | Contracts to sell natural gas at CAD fixed prices |  | 34 MMCFD
Canada |  | Natural Gas |  | Q4 2024 |  | Contracts to sell natural gas at USD fixed pricing |  | 15 MMCFD
Canada |  | Natural Gas |  | Q4 2026 | 1 | Contracts to sell natural gas at USD index pricing |  | 49 MMCFD
1 These contracts are scheduled to commence after the balance sheet date, at various dates between Q4 2021 and Q1 2022.

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=123351226&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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=123351226&loc=SL49130556-203045 + Details
Name: | us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration