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Impairment Charges (Tables)
6 Months Ended
Jun. 30, 2018
Disclosure Of Impairment Loss Recognised Or Reversed [Abstract]  
Summary of Forward Prices Used to Determine Future Cash Flows

The forward prices as at June 30, 2018, used to determine future cash flows from crude oil, NGLs and natural gas reserves were:

 

Remainder       of 2018

 

 

2019

 

 

2020

 

 

2021

 

 

2022

 

 

Average

Annual

Increase

Thereafter

 

WTI (US$/barrel) (1)

 

68.42

 

 

 

65.77

 

 

 

67.87

 

 

 

69.67

 

 

 

72.35

 

 

 

2.1

%

WCS (C$/barrel) (2)

 

59.66

 

 

 

61.15

 

 

 

64.41

 

 

 

66.51

 

 

 

68.22

 

 

 

2.1

%

Edmonton C5+ (C$/barrel)

 

88.18

 

 

 

81.66

 

 

 

82.01

 

 

 

83.30

 

 

 

85.15

 

 

 

2.1

%

AECO (C$/Mcf) (3) (4)

 

1.90

 

 

 

2.37

 

 

 

2.83

 

 

 

3.13

 

 

 

3.36

 

 

 

2.0

%

(1)

West Texas Intermediate (“WTI”).

(2)

Western Canadian Select (“WCS”).

(3)

Alberta Energy Company (“AECO”) natural gas.

(4)

Assumes gas heating value of one million British thermal units (“MMBtu”) per thousand cubic feet.

Summary of Increase (Decrease) to Impairment

As at June 30, 2018, a change in the discount rate or forward commodity prices would have had the following impact on the impairment of the Clearwater CGU:

 

Increase (Decrease) to Impairment

 

 

One Percent Increase in

the Discount Rate

 

 

One Percent Decrease in the Discount Rate

 

 

Five Percent Increase in

the Forward Price

Estimates

 

 

Five Percent Decrease in the Forward Price Estimates

 

Clearwater

 

24

 

 

 

(26

)

 

 

(54

)

 

 

59