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Oil and Gas Properties (Tables)
 12 Months Ended
Dec. 31, 2021
Property, plant and equipment [abstract]  
Plant and equipment
CostAccumulated
 depletion		Net book value
Balance, December 31, 2019$11,128,297 $(5,740,408)$5,387,889 
Capital expenditures275,850 — 275,850 
Transfers from exploration and evaluation assets (note 5)8,585 — 8,585 
Change in asset retirement obligations (note 9)94,994 — 94,994 
Property swaps(1,190)178 (1,012)
Impairment— (2,247,162)(2,247,162)
Foreign currency translation(82,860)120,123 37,263 
Depletion— (478,859)(478,859)
Balance, December 31, 2020$11,423,676 $(8,346,128)$3,077,548 
Capital expenditures310,005 — 310,005 
Property acquisitions274 — 274 
Divestitures(37,835)32,844 (4,991)
Property swaps(26,131)25,900 (231)
Transfers from exploration and evaluation assets (note 5)7,727 — 7,727 
Change in asset retirement obligations (note 9)(12,222)— (12,222)
Impairment reversal— 1,542,414 1,542,414 
Foreign currency translation(31,977)34,765 2,788 
Depletion— (458,941)(458,941)
Balance, December 31, 2021$11,633,517 $(7,169,146)$4,464,371 
Disclosure of recoverable amount of CGU benchmark reference prices The prices and costs subsequent to 2031 have been adjusted for inflation at an annual rate of 2.0%.
2022202320242025202620272028202920302031
WTI crude oil (US$/bbl)72.83 68.78 66.76 68.09 69.45 70.84 72.26 73.70 75.18 76.68 
WCS heavy oil ($/bbl)74.42 69.17 66.54 67.87 69.23 70.61 72.02 73.46 74.69 76.19 
LLS crude oil (US$/bbl)74.33 70.28 68.27 69.62 71.01 72.41 73.85 75.32 76.82 78.35 
Edmonton par oil ($/bbl)86.82 80.73 78.01 79.57 81.16 82.78 84.44 86.13 87.85 89.61 
Henry Hub gas (US$/mmbtu)3.85 3.44 3.17 3.24 3.30 3.37 3.44 3.50 3.58 3.65 
AECO gas ($/mmbtu)3.56 3.21 3.05 3.11 3.17 3.23 3.30 3.36 3.43 3.50 
Exchange rate (CAD/USD)1.26 1.26 1.26 1.26 1.26 1.26 1.26 1.26 1.26 1.26 
At June 30, 2021, the recoverable amount of the Company's CGUs were calculated using the following benchmark reference prices for the years 2021 to 2030 adjusted for commodity differentials specific to the Company. The prices and costs subsequent to 2030 have been adjusted for inflation at an annual rate of 2.0%.
2021202220232024202520262027202820292030
WTI crude oil (US$/bbl)71.33 67.20 63.95 63.23 64.50 65.79 67.10 68.44 69.81 71.21 
WCS heavy oil ($/bbl)72.22 66.84 61.73 60.70 61.91 63.15 64.42 65.70 67.02 68.36 
LLS crude oil (US$/bbl)72.17 68.53 65.80 65.10 66.39 67.71 69.05 70.42 71.82 73.26 
Edmonton par oil ($/bbl)83.20 78.27 74.06 73.05 74.51 76.00 77.52 79.07 80.66 82.27 
Henry Hub gas (US$/mmbtu)3.42 3.19 2.92 2.96 3.02 3.08 3.14 3.21 3.27 3.34 
AECO gas ($/mmbtu)3.46 3.13 2.72 2.71 2.76 2.82 2.88 2.94 2.99 3.05 
Exchange rate (CAD/USD)1.24 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 
At December 31, 2020, the recoverable amount of the Company's CGUs were calculated using the following benchmark reference prices for the years 2021 to 2030 adjusted for commodity differentials specific to the Company. The prices and costs subsequent to 2030 have been adjusted for inflation at an annual rate of 2%.
2021202220232024202520262027202820292030
WTI crude oil (US$/bbl)47.17 50.17 53.17 54.97 56.07 57.19 58.34 59.50 60.69 61.91 
WCS heavy oil ($/bbl)44.63 48.18 52.10 54.10 55.19 56.29 57.42 58.57 59.74 60.93 
LLS crude oil (US$/bbl)49.50 52.85 55.87 57.69 58.82 59.97 61.15 62.34 63.56 64.83 
Edmonton par oil ($/bbl)55.76 59.89 63.48 65.76 67.13 68.53 69.95 71.40 72.88 74.34 
Henry Hub gas (US$/mmbtu)2.83 2.87 2.90 2.96 3.02 3.08 3.14 3.20 3.26 3.33 
AECO gas ($/mmbtu)2.78 2.70 2.61 2.65 2.70 2.76 2.81 2.87 2.92 2.98 
Exchange rate (CAD/USD)1.30 1.31 1.31 1.31 1.31 1.31 1.31 1.31 1.31 1.31 
At March 31, 2020, the recoverable amount of the Company's CGUs were calculated using the following benchmark reference prices for the years 2020 to 2029 adjusted for commodity differentials specific to the Company. The prices and costs subsequent to 2029 have been adjusted for inflation at an annual rate of 2%.
2020202120222023202420252026202720282029
WTI crude oil (US$/bbl)29.17 40.45 49.17 53.28 55.66 56.87 58.01 59.17 60.35 61.56 
WCS heavy oil ($/bbl)19.21 34.65 46.34 51.25 54.28 55.72 56.96 58.22 59.51 60.82 
LLS crude oil (US$/bbl)32.17 43.80 52.55 56.68 59.10 60.35 61.52 62.72 63.94 65.19 
Edmonton par oil ($/bbl)29.22 46.85 59.27 65.02 68.43 69.81 71.24 72.70 74.19 75.71 
Henry Hub gas (US$/mmbtu)2.10 2.58 2.79 2.86 2.93 3.00 3.07 3.13 3.19 3.25 
AECO gas ($/mmbtu)1.74 2.20 2.38 2.45 2.53 2.60 2.66 2.72 2.79 2.85 
Exchange rate (CAD/USD)1.41 1.37 1.34 1.34 1.34 1.33 1.33 1.33 1.33 1.33 
Sensitivity of The Estimated Recoverable Amount of Changes in Assumptions
The following table summarizes the recoverable amount and impairment reversal at December 31, 2021 and demonstrates the sensitivity of the estimated recoverable amount of the five CGUs with respect to reasonably possible changes in key assumptions inherent in the estimate.
Recoverable amountImpairment
 reversal
Change in discount rate of 1%
Change in oil price of $2.50/bbl
Change in gas price of $0.25/mcf
Conventional CGU$77,846 $19,000 $— $3,000 $8,000 
Peace River CGU489,274 251,000 8,500 53,000 3,500 
Lloydminster CGU479,411 146,000 12,500 52,000 — 
Viking CGU1,320,094 — 38,000 85,500 4,500 
Eagle Ford CGU2,008,478 — 97,200 138,800 31,300 
$4,375,103 $416,000 $156,200 $332,300 $47,300 
The following table summarizes the recoverable amount and impairment reversal at June 30, 2021 and demonstrates the sensitivity of the estimated recoverable amount of the Company's CGUs comprising oil and gas properties to reasonably possible changes in key assumptions inherent in the estimate.
Recoverable amountImpairment
 reversal
Change in discount rate of 1%
Change in oil price of $2.50/bbl
Change in gas price of $0.25/mcf
Conventional CGU$57,891 $15,000 $1,000 $1,000 $8,000 
Peace River CGU238,714 154,000 4,000 40,000 2,500 
Lloydminster CGU340,730 154,000 12,500 52,000 — 
Duvernay CGU(1)
115,157 5,000 45,000 44,500 44,500 
Viking CGU1,338,985 356,000 47,000 89,500 4,500 
Eagle Ford CGU2,015,118 442,415 109,400 103,900 24,400 
$4,106,595 $1,126,415 $218,900 $330,900 $83,900 
(1)     The impairment reversal for the Duvernay CGU was limited to total accumulated impairments less subsequent depletion of $5.0 million.
The following table demonstrates the sensitivity of the estimated recoverable amount of the Company's CGUs to reasonably possible changes in key assumptions inherent in the estimate.
Recoverable amountImpairment
reversal
Change in discount rate of 1%
Change in oil price of $2.50/bbl
Change in gas price of $0.25/mcf
Conventional CGU$54,265 $— $1,000 $3,000 $9,000 
Peace River CGU104,225 — 1,000 49,500 3,000 
Lloydminster CGU212,979 — 7,000 57,500 500 
Duvernay CGU70,491 — 5,500 12,000 1,500 
Viking CGU1,026,026 116,000 34,500 106,500 5,000 
Eagle Ford CGU1,609,562 225,326 91,600 157,500 38,400 
$3,077,548 $341,326 $140,600 $386,000 $57,400 
The following table demonstrates the sensitivity of the estimated recoverable amount of the Company's CGUs to reasonably possible changes in key assumptions inherent in the estimate.
Recoverable amountImpairment
Change in discount rate of 1%
Change in oil price of $2.50/bbl
Change in gas price of $0.25/mcf
Conventional CGU$37,444 $41,000 $3,000 $3,500 $8,500 
Peace River CGU109,631 345,000 9,500 53,500 3,000 
Lloydminster CGU227,967 470,000 25,000 69,500 — 
Duvernay CGU61,197 5,000 5,500 9,500 1,500 
Viking CGU962,134 915,000 57,000 123,000 4,000 
Eagle Ford CGU1,576,423 812,488 120,750 141,500 32,000 
$2,974,796 $2,588,488 $220,750 $400,500 $49,000