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Oil and Gas Properties (Tables) | 12 Months Ended
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Dec. 31, 2022
Disclosure of detailed information about property, plant and equipment [abstract] |
Plant and equipment |
| Cost | Accumulated depletion | Net book value
Balance, December 31, 2020 | $ | 11,423,676 |  | $ | (8,346,128) |  | $ | 3,077,548 |
Capital expenditures | 310,005 |  | — |  | 310,005 |
Property acquisitions | 274 |  | — |  | 274 |
Transfers from exploration and evaluation assets (note 5) | 7,727 |  | — |  | 7,727 |
Change in asset retirement obligations (note 9) | (12,222) |  | — |  | (12,222) |
Divestitures | (37,835) |  | 32,844 |  | (4,991) |
Property swaps | (26,131) |  | 25,900 |  | (231) |
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 |
Capital expenditures | 515,183 |  | — |  | 515,183 |
Property acquisitions | 1,173 |  | — |  | 1,173 |
Transfers from exploration and evaluation assets (note 5) | 8,496 |  | — |  | 8,496 |
Change in asset retirement obligations (note 9) | (147,020) |  | — |  | (147,020) |
Divestitures | (265,166) |  | 241,892 |  | (23,274) |
Impairment reversal | — |  | 245,241 |  | 245,241 |
Foreign currency translation | 296,033 |  | (158,404) |  | 137,629 |
Depletion | — |  | (581,033) |  | (581,033) |
Balance, December 31, 2022 | $ | 12,042,216 |  | $ | (7,421,450) |  | $ | 4,620,766 |
Disclosure of recoverable amount of CGU benchmark reference prices | The prices and costs subsequent to 2032 have been adjusted for inflation at an annual rate of 2.0%.
| 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 | 2032
WTI crude oil (US$/bbl) | 80.33 |  | 78.50 |  | 76.95 |  | 77.61 |  | 79.16 |  | 80.74 |  | 82.36 |  | 84.00 |  | 85.69 |  | 87.40 |
WCS heavy oil ($/bbl) | 76.54 |  | 77.75 |  | 77.55 |  | 80.07 |  | 81.89 |  | 84.02 |  | 85.73 |  | 87.44 |  | 89.20 |  | 91.11 |
LLS crude oil (US$/bbl) | 82.83 |  | 80.68 |  | 78.81 |  | 79.49 |  | 81.07 |  | 82.68 |  | 84.33 |  | 86.00 |  | 87.71 |  | 89.46 |
Edmonton par oil ($/bbl) | 103.76 |  | 97.74 |  | 95.27 |  | 95.58 |  | 97.07 |  | 99.01 |  | 100.99 |  | 103.01 |  | 105.07 |  | 106.69 |
Henry Hub gas (US$/mmbtu) | 4.74 |  | 4.50 |  | 4.31 |  | 4.40 |  | 4.49 |  | 4.58 |  | 4.67 |  | 4.76 |  | 4.86 |  | 4.95 |
AECO gas ($/mmbtu) | 4.23 |  | 4.40 |  | 4.21 |  | 4.27 |  | 4.34 |  | 4.43 |  | 4.51 |  | 4.60 |  | 4.69 |  | 4.79 |
Exchange rate (CAD/USD) | 1.34 |  | 1.31 |  | 1.30 |  | 1.30 |  | 1.29 |  | 1.29 |  | 1.29 |  | 1.29 |  | 1.29 |  | 1.29 |
Sensitivity of The Estimated Recoverable Amount of Changes in Assumptions | The following table summarizes the recoverable amount and impairment reversal for each of the five CGUs at December 31, 2022 and demonstrates the sensitivity of the impairment reversal to reasonably possible changes in key assumptions inherent in the calculation.
| Recoverable amount | Impairment 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 (1) | $ | 119,031 |  | $ | 23,707 |  | $ | — |  | $ | — |  | $ | — |
Peace River CGU (1) | 676,939 |  | 140,534 |  | — |  | — |  | — |
Lloydminster CGU | 449,250 |  | — |  | 11,500 |  | 53,000 |  | — |
Viking CGU | 1,322,193 |  | 81,000 |  | 39,500 |  | 78,000 |  | 4,000 |
Eagle Ford CGU | 2,102,646 |  | — |  | 95,800 |  | 131,100 |  | 28,500 |
| $ | 4,670,059 |  | $ | 245,241 |  | $ | 146,800 |  | $ | 262,100 |  | $ | 32,500 |
(1)The impairment reversals for the Conventional and Peace River CGUs were limited to the total accumulated impairments less subsequent depletion of $23.7 million and $140.5 million, respectively. As a result, changes in the key assumptions presented in the table above have no impact on the amount of the impairment reversal as at December 31, 2022.

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