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Asset Retirement Obligations | 12 Months Ended
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Dec. 31, 2021
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS
| December 31, 2021 | December 31, 2020
Balance, beginning of year | $ | 760,383 |  | $ | 667,974 |
Liabilities incurred | 14,845 |  | 15,189 |
Liabilities settled | (6,662) |  | (7,168) |
Liabilities acquired from property acquisitions | 249 |  | — |
Liabilities divested | (3,161) |  | (721) |
Property swaps | (4,113) |  | (525) |
Accretion (note 15) | 12,381 |  | 8,978 |
Government grants(1) | (2,857) |  | (2,128) |
Change in estimate | (9,686) |  | (12,771) |
Changes in discount rates and inflation rates(2) | (17,381) |  | 92,576 |
Foreign currency translation | (315) |  | (1,021) |
Balance, end of year | $ | 743,683 |  | $ | 760,383 |
Less current portion of asset retirement obligations | 11,080 |  | 11,820 |
Non-current portion of asset retirement obligations | $ | 732,603 |  | $ | 748,563 |
(1)During 2021, Baytex recognized $2.9 million of non-cash other income and a reduction in asset retirement obligations related to government grants provided by the Government of Alberta and the Government of Saskatchewan ($2.1 million in 2020). (2)The discount and inflation rates at December 31, 2021 were 1.7% and 1.8% respectively (December 31, 2020 - 1.2% and 1.5%). At December 31, 2021, the undiscounted amount of estimated cash flows required to settle the asset retirement obligations is $721.7 million (December 31, 2020 - $721.0 million). The discounted amount of estimated cash flow required to settle the asset retirement obligations at December 31, 2021, calculated using an estimated inflation rate of 1.8% (December 31, 2020 - 1.5%) and a risk free discount rate of 1.7% (December 31, 2020 - 1.2%), is $743.7 million (December 31, 2020 - $760.4 million). These costs are expected to be incurred over the next 60 years.

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- Definition Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] + References No definition available. + Details
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- Definition The entire disclosure for other provisions, contingent liabilities and contingent assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 37 -IssueDate 2021-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=37&code=ifrs-tx-2021-en-r&doctype=Standard&dita_xref=IAS37_g84-92_TI -URIDate 2021-03-24 + Details
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