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Derivative instruments
 12 Months Ended
Dec. 31, 2018
Disclosure Of Derivative instruments [Abstract]  
Disclosure of derivative financial instruments [text block]
9. Derivative instruments
 
The following table reconciles the change in the fair value of Vermilion’s derivative instruments:
 
 
Year Ended
($M)
Dec 31, 2018
 
Dec 31, 2017
Fair value of contracts, beginning of year
(70,713
)
 
(69,651
)
Reversal of opening contracts settled during the year
57,719
 
 
43,324
 
Assumed in acquisitions
(274
)
 
—
 
Realized (loss) gain on contracts settled during the year
(111,258
)
 
4,721
 
Unrealized gain (loss) during the year on contracts outstanding at the end of the year
51,607
 
 
(44,386
)
Net receipt from counterparties on contract settlements during the year
111,258
 
 
(4,721
)
Fair value of contracts, end of year
38,339
 
 
(70,713
)
Comprised of:
 
 
 
Current derivative asset
95,667
 
 
17,988
 
Current derivative liability
(41,016
)
 
(78,905
)
Non-current derivative asset
1,215
 
 
2,552
 
Non-current derivative liability
(17,527
)
 
(12,348
)
Fair value of contracts, end of year
38,339
 
 
(70,713
)
 
The loss (gain) on derivative instruments for 2018 and 2017 were comprised of the following:
 
 
Year Ended
($M)
Dec 31, 2018
 
Dec 31, 2017
Realized loss (gain) on contracts settled during the year
111,258
 
 
(4,721
)
Reversal of opening contracts settled during the year
(57,719
)
 
(43,324
)
Unrealized (gain) loss on contracts outstanding at the end of the year
(51,607
)
 
44,386
 
Loss (gain) on derivative instruments
1,932
 
 
(3,659
)
 
Please refer to Note 19 (Supplemental information) for a listing of Vermilion's outstanding derivative instruments as at December 31, 2018.