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v3.20.4

Segmented Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2020
Operating Segments [Abstract] |
Information by reportable segment | Baytex's reportable segments are determined based on the geographic location and nature of the underlying operations: •Canada includes the exploration for, and the development and production of, crude oil and natural gas in Western Canada; •U.S. includes the exploration for, and the development and production of, crude oil and natural gas in the U.S.; and •Corporate includes corporate activities and items not allocated between operating segments.
| Canada | U.S. | Corporate | Consolidated
Years Ended December 31 | 2020 |  | 2019 | 2020 |  | 2019 | 2020 |  | 2019 | 2020 |  | 2019
Revenue, net of royalties |  |  |  |  |  |  |  |
Petroleum and natural gas sales | $ | 571,741 |  | $ | 1,077,724 |  | $ | 403,736 |  | $ | 728,195 |  | $ | — |  | $ | — |  | $ | 975,477 |  | $ | 1,805,919 |
Royalties | (46,064) |  | (107,467) |  | (117,671) |  | (212,774) |  | — |  | — |  | (163,735) |  | (320,241) |
| 525,677 |  | 970,257 |  | 286,065 |  | 515,421 |  | — |  | — |  | 811,742 |  | 1,485,678 |
Expenses |  |  |  |  |  |  |  |
Operating | 247,050 |  | 298,303 |  | 84,295 |  | 99,413 |  | — |  | — |  | 331,345 |  | 397,716 |
Transportation | 28,437 |  | 43,942 |  | — |  | — |  | — |  | — |  | 28,437 |  | 43,942 |
Blending and other | 48,381 |  | 68,795 |  | — |  | — |  | — |  | — |  | 48,381 |  | 68,795 |
General and administrative | — |  | — |  | — |  | — |  | 34,268 |  | 45,469 |  | 34,268 |  | 45,469 |
Exploration and evaluation | 14,011 |  | 11,764 |  | — |  | — |  | — |  | — |  | 14,011 |  | 11,764 |
Depletion and depreciation | 309,420 |  | 463,501 |  | 169,439 |  | 261,766 |  | 7,521 |  | 6,419 |  | 486,380 |  | 731,686 |
Impairment | 1,737,000 |  | 187,822 |  | 623,220 |  | — |  | — |  | — |  | 2,360,220 |  | 187,822 |
Share-based compensation | — |  | — |  | — |  | — |  | 9,469 |  | 15,894 |  | 9,469 |  | 15,894 |
Financing and interest | — |  | — |  | — |  | — |  | 125,441 |  | 125,865 |  | 125,441 |  | 125,865 |
Financial derivatives (gain) loss | — |  | — |  | — |  | — |  | (29,336) |  | 7,197 |  | (29,336) |  | 7,197 |
Foreign exchange loss (gain) | — |  | — |  | — |  | — |  | 8,688 |  | (61,787) |  | 8,688 |  | (61,787) |
Gain on dispositions | (901) |  | (2,238) |  | — |  | — |  | — |  | — |  | (901) |  | (2,238) |
Other income | (2,128) |  | — |  | — |  | — |  | (3,176) |  | (7,526) |  | (5,304) |  | (7,526) |
| 2,381,270 |  | 1,071,889 |  | 876,954 |  | 361,179 |  | 152,875 |  | 131,531 |  | 3,411,099 |  | 1,564,599 |
Net income (loss) before income taxes | (1,855,593) |  | (101,632) |  | (590,889) |  | 154,242 |  | (152,875) |  | (131,531) |  | (2,599,357) |  | (78,921) |
Income tax expense (recovery) |  |  |  |  |  |  |  |
Current income tax expense | 469 |  | 101 |  | 105 |  | 1,992 |  | — |  | — |  | 574 |  | 2,093 |
Deferred income tax (recovery) expense | (77,201) |  | (32,942) |  | (57,199) |  | 10,055 |  | (26,567) |  | (45,668) |  | (160,967) |  | (68,555) |
| (76,732) |  | (32,841) |  | (57,094) |  | 12,047 |  | (26,567) |  | (45,668) |  | (160,393) |  | (66,462) |
Net income (loss) | $ | (1,778,861) |  | $ | (68,791) |  | $ | (533,795) |  | $ | 142,195 |  | $ | (126,308) |  | $ | (85,863) |  | $ | (2,438,964) |  | $ | (12,459) |
Total oil and natural gas capital expenditures (1) | $ | 174,770 |  | $ | 376,543 |  | $ | 105,388 |  | $ | 177,928 |  | $ | — |  | $ | — |  | $ | 280,158 |  | $ | 554,471 |
(1)Includes acquisitions, net of proceeds from divestitures.
Assets by segment |
As at | December 31, 2020 | December 31, 2019
Canadian assets | $ | 1,646,412 |  | $ | 3,484,123 |
U.S. assets | 1,737,533 |  | 2,403,310 |
Corporate assets | 24,151 |  | 26,650 |
Total consolidated assets | $ | 3,408,096 |  | $ | 5,914,083 |

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