XML 67 R48.htm IDEA: XBRL DOCUMENT v3.22.4
Segmented Financial Information - Information By Reportable Segment (Details) - CAD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Revenue, net of royalties    
Petroleum and natural gas sales $ 2,889,045 $ 1,868,195
Royalties (562,964) (339,156)
Revenue, net of royalties 2,326,081 1,529,039
Expenses    
Operating 422,666 343,002
Transportation 48,561 32,261
Blending and other 189,454 85,689
General and administrative 50,270 40,804
Exploration and evaluation 30,239 15,212
Depletion and depreciation 587,050 464,580
Impairment reversal (267,744) (1,542,414)
Share-based compensation 3,159 6,389
Financing and interest 104,817 111,159
Financial derivatives loss 199,010 287,872
Foreign exchange loss (gain) 43,441 (2,868)
(Gain) loss on dispositions (4,898) (9,666)
Other expense (income) 3,244 (2,562)
Total expenses 1,435,166 (165,801)
Net income before income taxes 890,915 1,694,840
Income tax (recovery) expense    
Current income tax expense 3,594 1,272
Deferred income tax expense 31,716 79,968
Income tax expense 35,310 81,240
Net income 855,605 1,613,600
Additions to exploration and evaluation assets (6,359) (3,298)
Additions to oil and gas properties 515,183 310,005
Property acquisitions 1,352 1,557
Proceeds from dispositions (25,649) (7,804)
Operating segments | Canada    
Revenue, net of royalties    
Petroleum and natural gas sales 1,926,561 1,128,137
Royalties (277,428) (121,306)
Revenue, net of royalties 1,649,133 1,006,831
Expenses    
Operating 327,894 257,658
Transportation 48,561 32,261
Blending and other 189,454 85,689
General and administrative 0 0
Exploration and evaluation 30,239 15,212
Depletion and depreciation 409,286 303,135
Impairment reversal (267,744) (1,100,000)
Share-based compensation 0 0
Financing and interest 0 0
Financial derivatives loss 0 0
Foreign exchange loss (gain) 0 0
(Gain) loss on dispositions (4,898) (9,856)
Other expense (income) (4,009) (2,857)
Total expenses 728,783 (418,758)
Net income before income taxes 920,350 1,425,589
Income tax (recovery) expense    
Net income 920,350 1,425,589
Additions to exploration and evaluation assets 6,359 3,298
Additions to oil and gas properties 374,443 204,912
Property acquisitions 1,352 1,557
Proceeds from dispositions (25,649) (7,211)
Operating segments | U.S.    
Revenue, net of royalties    
Petroleum and natural gas sales 962,484 740,058
Royalties (285,536) (217,850)
Revenue, net of royalties 676,948 522,208
Expenses    
Operating 94,772 85,344
Transportation 0 0
Blending and other 0 0
General and administrative 0 0
Exploration and evaluation 0 0
Depletion and depreciation 171,747 155,806
Impairment reversal 0 (442,414)
Share-based compensation 0 0
Financing and interest 0 0
Financial derivatives loss 0 0
Foreign exchange loss (gain) 0 0
(Gain) loss on dispositions 0 190
Other expense (income) 0 0
Total expenses 266,519 (201,074)
Net income before income taxes 410,429 723,282
Income tax (recovery) expense    
Net income 410,429 723,282
Additions to exploration and evaluation assets 0 0
Additions to oil and gas properties 140,740 105,093
Property acquisitions 0 0
Proceeds from dispositions 0 (593)
Operating segments | Corporate    
Revenue, net of royalties    
Petroleum and natural gas sales 0 0
Royalties 0 0
Revenue, net of royalties 0 0
Expenses    
Operating 0 0
Transportation 0 0
Blending and other 0 0
General and administrative 50,270 40,804
Exploration and evaluation 0 0
Depletion and depreciation 6,017 5,639
Impairment reversal 0 0
Share-based compensation 29,056 11,130
Financing and interest 104,817 111,159
Financial derivatives loss 199,010 287,872
Foreign exchange loss (gain) 43,441 (2,868)
(Gain) loss on dispositions 0 0
Other expense (income) 7,253 295
Total expenses 439,864 454,031
Net income before income taxes (439,864) (454,031)
Income tax (recovery) expense    
Net income (439,864) (454,031)
Additions to exploration and evaluation assets 0 0
Additions to oil and gas properties 0 0
Property acquisitions 0 0
Proceeds from dispositions 0 0
Operating segments | Consolidated    
Revenue, net of royalties    
Petroleum and natural gas sales 2,889,045 1,868,195
Royalties (562,964) (339,156)
Revenue, net of royalties 2,326,081 1,529,039
Expenses    
Operating 422,666 343,002
Transportation 48,561 32,261
Blending and other 189,454 85,689
General and administrative 50,270 40,804
Exploration and evaluation 30,239 15,212
Depletion and depreciation 587,050 464,580
Impairment reversal (267,744) (1,542,414)
Share-based compensation 29,056 11,130
Financing and interest 104,817 111,159
Financial derivatives loss 199,010 287,872
Foreign exchange loss (gain) 43,441 (2,868)
(Gain) loss on dispositions (4,898) (9,666)
Other expense (income) 3,244 (2,562)
Total expenses 1,435,166 (165,801)
Net income before income taxes 890,915 1,694,840
Income tax (recovery) expense    
Current income tax expense 3,594 1,272
Deferred income tax expense 31,716 79,968
Income tax expense 35,310 81,240
Net income 855,605 1,613,600
Additions to exploration and evaluation assets 6,359 3,298
Additions to oil and gas properties 515,183 310,005
Property acquisitions 1,352 1,557
Proceeds from dispositions $ (25,649) $ (7,804)