Property, Plant and Equipment and Inventory (Tables)

9 Months Ended

Sep. 30, 2017

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, Plant and Equipment

(Thousands of U.S. Dollars)	As at September 30, 2017			As at December 31, 2016
Oil and natural gas properties
Proved	$	2,836,263		$	2,652,171
Unproved	613,419			647,774
	3,449,682			3,299,945
Other	27,236			29,445
	3,476,918			3,329,390
Accumulated depletion, depreciation and impairment	(2,349,294		)	(2,262,781		)
	$	1,127,624		$	1,066,609

Schedule of Asset Impairment

Asset impairment for the three and nine months ended September 30, 2017, and 2016 was as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(Thousands of U.S. Dollars)	2017		2016		2017		2016
Impairment of oil and gas properties	$	787	$	319,974	$	1,239	$	469,051
Impairment of inventory	—		—		—		664
	$	787	$	319,974	$	1,239	$	469,715

Schedule of the Allocation of the Cost of the Acquisition

The following table shows the allocation of the cost of the acquisition based on the relative fair values of the assets and

liabilities acquired:

(Thousands of U.S. Dollars)
Cost of asset acquisition:
Cash	$	30,410
Allocation of Consideration Paid:
Oil and gas properties
Proved	$	24,405
Unproved	8,649
	33,054
Inventory	869
Asset retirement obligation - long-term	(3,513		)
	$	30,410

Schedule of Assets and Liabilities of the Brazil Business Unit

At December 31, 2016, assets and liabilities of the Brazil business unit were as follows:

(Thousands of U.S. Dollars)	As at December 31, 2016
Current assets	$	1,634
Property, plant and equipment	55,376
	$	57,010
Current liabilities	$	(11,590	)
Long-term liabilities	(2,297		)
	$	(13,887	)