| |
Historical Financial Summary (millions of Canadian dollars unless otherwise stated)
| Years ended December 31 |
2004 |
2003 |
2002 |
2001 |
2000 |
1999 |
1998 |
1997 |
1996 |
1995 |
| Balance Sheets |
(restated) |
| Current assets |
970 |
975 |
917 |
799 |
1,042 |
730 |
272 |
471 |
362 |
256 |
| Other assets |
125 |
139 |
166 |
92 |
82 |
93 |
100 |
88 |
63 |
51 |
| Goodwill |
466 |
473 |
469 |
467 |
- |
- |
- |
- |
- |
- |
| Property, plant and equipment |
10,847 |
10,193 |
10,465 |
9,870 |
7,904 |
7,363 |
5,184 |
4,636 |
3,536 |
2,796 |
| Total assets |
12,408 |
11,780 |
12,017 |
11,228 |
9,028 |
8,186 |
5,556 |
5,195 |
3,961 |
3,103 |
| Current liabilities |
1,643 |
1,218 |
989 |
1,204 |
1,311 |
1,060 |
576 |
497 |
338 |
225 |
| Deferred credits and other liabilities |
3,477 |
3,341 |
3,457 |
3,052 |
2,366 |
1,344 |
781 |
795 |
633 |
345 |
| Long-term debt |
2,457 |
2,203 |
2,997 |
2,794 |
1,703 |
2,157 |
2,071 |
1,739 |
899 |
906 |
| Shareholders' equity |
4,831 |
5,018 |
4,574 |
4,178 |
3,648 |
3,625 |
2,128 |
2,164 |
2,091 |
1,627 |
| Total liabilities and shareholders equity |
12,408 |
11,780 |
12,017 |
11,228 |
9,028 |
8,186 |
5,556 |
5,195 |
3,961 |
3,103 |
| Income Statements |
|
| Revenue |
|
|
| Gross sales |
6,874 |
5,610 |
5,351 |
5,039 |
5,213 |
2,424 |
1,551 |
1,729 |
1,427 |
1,006 |
| Less hedging loss/(gain) |
480 |
194 |
(75) |
(8) |
377 |
106 |
17 |
29 |
20 |
(5) |
| Gross sales, net of hedging |
6,394 |
5,416 |
5,426 |
5,047 |
4,836 |
2,318 |
1,534 |
1,700 |
1,407 |
1,011 |
| Less royalties |
1,124 |
894 |
927 |
989 |
946 |
389 |
214 |
312 |
224 |
144 |
| Net sales |
5,270 |
4,522 |
4,499 |
4,058 |
3,890 |
1,929 |
1,320 |
1,388 |
1,183 |
867 |
| Other |
85 |
76 |
80 |
82 |
99 |
46 |
51 |
42 |
30 |
32 |
| Total revenue |
5,355 |
4,598 |
4,579 |
4,140 |
3,989 |
1,975 |
1,371 |
1,430 |
1,213 |
899 |
| Expenses |
|
|
| Operating |
1,198 |
1,039 |
1,048 |
946 |
827 |
604 |
581 |
480 |
300 |
245 |
| Transportation |
192 |
181 |
194 |
- |
- |
- |
- |
- |
- |
- |
| General and administrative |
183 |
152 |
138 |
108 |
95 |
70 |
59 |
57 |
56 |
57 |
| Depreciation, depletion and amortization |
1,650 |
1,435 |
1,462 |
1,283 |
1,103 |
729 |
597 |
532 |
425 |
374 |
| Dry hole |
311 |
251 |
174 |
113 |
77 |
51 |
91 |
42 |
65 |
26 |
| Exploration |
238 |
213 |
185 |
147 |
100 |
79 |
102 |
92 |
63 |
50 |
| Interest on long-term debt |
158 |
137 |
164 |
139 |
136 |
120 |
91 |
51 |
69 |
86 |
| Stock based compensation |
171 |
185 |
- |
- |
- |
- |
- |
- |
- |
- |
| Other |
89 |
16 |
113 |
78 |
64 |
(140) |
230 |
(15) |
(25) |
(33) |
| Total expenses |
4,190 |
3,609 |
3,478 |
2,814 |
2,402 |
1,513 |
1,751 |
1,239 |
953 |
805 |
| Gain on sale of Sudan operations |
- |
296 |
- |
- |
- |
- |
- |
- |
- |
- |
| Income(loss) before taxes |
1,165 |
1,285 |
1,101 |
1,326 |
1,587 |
462 |
(380) |
191 |
260 |
94 |
| Taxes |
|
|
| Current income tax |
478 |
229 |
258 |
342 |
334 |
49 |
15 |
38 |
51 |
11 |
| Future income tax (recovery) |
(105) |
(48) |
175 |
84 |
216 |
116 |
(93) |
64 |
82 |
48 |
| Petroleum revenue tax |
129 |
92 |
124 |
149 |
150 |
31 |
20 |
32 |
35 |
- |
| |
502 |
273 |
557 |
575 |
700 |
196 |
(58) |
134 |
168 |
59 |
| Net income(loss) |
663 |
1,012 |
544 |
751 |
887 |
266 |
(322) |
57 |
92 |
35 |
| Preferred security charges, net of tax |
(9) |
(22) |
(24) |
(24) |
(22) |
(13) |
- |
- |
- |
- |
| Gain on redemption of preferred securities |
23 |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Income from discontinued operations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
6 |
| Net income (loss) available to common shareholders |
677 |
990 |
520 |
727 |
865 |
253 |
(322) |
57 |
92 |
41 |

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