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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2021
Income Taxes [Abstract]  
Provision for income taxes The provision for income taxes has been computed as follows:
Years Ended December 31
2021 2020 
Net income (loss) before income taxes $1,694,840 $(2,599,357)
Expected income taxes at the statutory rate of 25.12% (2020 – 25.42%)
425,744 (660,757)
(Increase) decrease in income tax recovery resulting from:
Share-based compensation1,605 1,834 
Effect of foreign exchange(841)1,017 
Effect of change in income tax rates(65)10,969 
Effect of rate adjustments for foreign jurisdictions(21,746)22,375 
Effect of change in deferred tax benefit not recognized(325,295)444,117 
Effect of U.S. tax change— 19,807 
Adjustments and assessments1,838 245 
Income tax expense (recovery)$81,240 $(160,393)
Continuity of net deferred income tax liability
A continuity of the net deferred income tax liability is detailed in the following tables:
As atJanuary 1, 2021Recognized in Net IncomeForeign Currency Translation AdjustmentDecember 31, 2021
Taxable temporary differences:
Petroleum and natural gas properties$(502,625)$(257,800)$(154)$(760,579)
Financial derivatives— — — — 
Other(22,377)624 137 (21,616)
Deductible temporary differences:
Asset retirement obligations187,840 (2,436)(68)185,336 
Financial derivatives5,410 26,082 — 31,492 
Non-capital losses241,514 104,479 (3,109)342,884 
Finance costs3,705 49,083 2,239 55,027 
Net deferred income tax liability(1)
$(86,533)$(79,968)$(955)$(167,456)
(1)Non-capital loss carry-forwards at December 31, 2021 totaled $2.0 billion and expire from 2033 to 2039.
As atJanuary 1, 2020Recognized in Net LossForeign Currency Translation AdjustmentDecember 31, 2020
Taxable temporary differences:
Petroleum and natural gas properties$(881,994)$378,321 $1,048 $(502,625)
Financial derivatives— — — — 
Other(2,403)(18,839)(1,135)(22,377)
Deductible temporary differences:
Asset retirement obligations164,523 23,432 (115)187,840 
Financial derivatives802 4,608 — 5,410 
Non-capital losses386,717 (141,468)(3,735)241,514 
Finance costs97,047 (85,087)(8,255)3,705 
Net deferred income tax liability(1)
$(235,308)$160,967 $(12,192)$(86,533)
(1)Non-capital loss carry-forwards at December 31, 2020 totaled $2.2 billion and expire from 2034 to 2040.