Vermilion Energy (VET) 40-F 1 Mar 18 2017 FY Annual report (Canada) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2017shares
Document Information [Line Items]
Document Type	40-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Entity Registrant Name	VERMILION ENERGY INC.
Entity Central Index Key	1,293,135
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Trading Symbol	VET
Entity Common Stock, Shares Outstanding	122,118,974

CONSOLIDATED BALANCE SHEET

CONSOLIDATED BALANCE SHEET - CAD CAD in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current
Cash and cash equivalents	CAD 46,561	CAD 62,775
Accounts receivable	165,760	131,719
Crude oil inventory	17,105	14,528
Derivative instruments	17,988	4,336
Prepaid expenses	14,432	12,548
Current assets	261,846	225,906
Derivative instruments	2,552	1,157
Deferred taxes	80,324	152,046
Exploration and evaluation assets	292,278	274,830
Capital assets	3,337,965	3,433,245
Assets	3,974,965	4,087,184
Current
Accounts payable and accrued liabilities	219,084	181,557
Dividends payable	26,256	25,426
Derivative instruments	78,905	47,660
Income taxes payable	39,061	36,219
Current liabilities	363,306	290,862
Derivative instruments	12,348	27,484
Long-term debt	1,270,330	1,362,192
Finance lease obligation	15,807	19,628
Asset retirement obligations	517,180	525,022
Deferred taxes	253,108	283,533
Liabilities	2,432,079	2,508,721
SHAREHOLDERS’ EQUITY
Shareholders’ capital	2,650,706	2,452,722
Contributed surplus	84,354	101,788
Accumulated other comprehensive income	71,829	30,339
Deficit	(1,264,003)	(1,006,386)
Equity attributable to owners of parent	1,542,886	1,578,463
Equity and liabilities	CAD 3,974,965	CAD 4,087,184

CONSOLIDATED STATEMENTS OF NET

CONSOLIDATED STATEMENTS OF NET EARNINGS (LOSS) AND COMPREHENSIVE INCOME (LOSS) - CAD shares in Thousands, CAD in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
REVENUE
Petroleum and natural gas sales	CAD 1,098,838	CAD 882,791
Royalties	(74,476)	(54,284)
Petroleum and natural gas revenue	1,024,362	828,507
EXPENSES
Operating	242,267	222,185
Transportation	43,448	39,511
Equity based compensation	61,579	69,235
(Gain) loss on derivative instruments	(3,659)	72,617
Interest expense	57,313	56,957
General and administration	54,373	52,829
Foreign exchange gain	(74,058)	(3,249)
Other income	(37)	(3,896)
Accretion	26,971	24,783
Depletion and depreciation	491,683	528,002
Impairment	0	14,762
Gain on business combination	0	(22,001)
Expenses, by nature	899,880	1,051,735
EARNINGS (LOSS) BEFORE INCOME TAXES	124,482	(223,228)
TAXES
Deferred	30,117	(82,855)
Current	32,107	19,678
Tax expense (income), continuing operations	62,224	(63,177)
NET EARNINGS (LOSS)	62,258	(160,051)
OTHER COMPREHENSIVE INCOME (LOSS)
Currency translation adjustments	41,490	(83,308)
COMPREHENSIVE INCOME (LOSS)	CAD 103,748	CAD (243,359)
NET EARNINGS (LOSS) PER SHARE
Basic	CAD 0.52	CAD (1.38)
Diluted	CAD 0.51	CAD (1.38)
WEIGHTED AVERAGE SHARES OUTSTANDING ('000s)
Basic	120,582	115,695
Diluted	122,408	115,695

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD CAD in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
OPERATING
Net earnings (loss)	CAD 62,258	CAD (160,051)
Adjustments:
Accretion	26,971	24,783
Depletion and depreciation	491,683	528,002
Impairment	0	14,762
Gain on business combination	0	(22,001)
Unrealized loss on derivative instruments	1,062	137,993
Equity based compensation	61,579	69,235
Unrealized foreign exchange (gain) loss	(71,742)	792
Unrealized other expense	637	131
Deferred taxes	30,117	(82,855)
Asset retirement obligations settled	(9,334)	(9,617)
Changes in non-cash operating working capital	665	8,366
Cash flows from operating activities	593,896	509,540
INVESTING
Drilling and development	(290,593)	(241,545)
Exploration and evaluation	(29,856)	(863)
Property acquisitions	(27,637)	(98,524)
Changes in non-cash investing working capital	407	(12,298)
Cash flows used in investing activities	(347,679)	(353,230)
FINANCING
(Repayments) borrowings on the revolving credit facility	(450,646)	202,617
Issuance (repayment) of senior unsecured notes	391,906	(225,000)
Decrease in finance lease obligation	(4,874)	(4,270)
Cash dividends	(200,074)	(104,723)
Cash flows used in investing activities	(263,688)	(131,376)
Foreign exchange gain (loss) on cash held in foreign currencies	1,257	(3,835)
Net change in cash and cash equivalents	(16,214)	21,099
Cash and cash equivalents, beginning of period	62,775	41,676
Cash and cash equivalents, end of period	46,561	62,775
Supplementary information for cash flows from operating activities
Interest paid	49,721	60,221
Income taxes paid (refunded)	CAD 29,265	CAD (10,535)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY - CAD CAD in Thousands	Total	Issued capital [member]	Share premium [member]	Retained Earnings [Member]
Balance at January 1 at Dec. 31, 2015	CAD 2,181,089
SHAREHOLDERS' CAPITAL
Shares issued for the Dividend Reinvestment Plan	192,998
Vesting of equity based awards		CAD 67,146	CAD (67,146)
Equity based compensation		8,247	60,988
Share-settled dividends on vested equity based awards		3,242		CAD (3,242)
Balance at December 31 at Dec. 31, 2016	2,452,722
Balance, beginning of period at Dec. 31, 2015	107,946
Balance, end of period at Dec. 31, 2016	101,788
Balance, beginning of period at Dec. 31, 2015	113,647
ACCUMULATED OTHER COMPREHENSIVE INCOME
Currency translation adjustments	(83,308)
Balance, end of period at Dec. 31, 2016	30,339
Balance, beginning of period at Dec. 31, 2015	(544,023)
DEFICIT
Dividends declared	(299,070)
Balance, end of period at Dec. 31, 2016	(1,006,386)
DEFICIT
Net earnings (loss)	(160,051)
TOTAL SHAREHOLDERS' EQUITY	1,578,463
Shares issued for the Dividend Reinvestment Plan	110,493
Vesting of equity based awards		69,743	(69,743)
Equity based compensation		9,270	CAD 52,309
Share-settled dividends on vested equity based awards		CAD 8,478		CAD (8,478)
Balance at December 31 at Dec. 31, 2017	2,650,706
Balance, end of period at Dec. 31, 2017	84,354
ACCUMULATED OTHER COMPREHENSIVE INCOME
Currency translation adjustments	41,490
Balance, end of period at Dec. 31, 2017	71,829
DEFICIT
Dividends declared	(311,397)
Balance, end of period at Dec. 31, 2017	(1,264,003)
DEFICIT
Net earnings (loss)	62,258
TOTAL SHAREHOLDERS' EQUITY	CAD 1,542,886

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2017
Disclosure of Basis Of Presentation [Abstract]
Disclosure of basis of preparation of financial statements [text block]	1. BASIS OF PRESENTATION Vermilion Energy Inc. and its subsidiaries (the “Company” or “Vermilion”) are engaged in the business of petroleum and natural gas exploration, development, acquisition, and production. Vermilion was incorporated in Canada and the Company’s registered office and principal place of business is located at 3500, 520, 3rd Avenue SW, Calgary, Alberta, Canada. These consolidated financial statements were approved and authorized for issuance by Vermilion’s Board of Directors on February 28, 2018.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2017
Disclosure Of Significant Accounting Policies [Abstract]
Disclosure of significant accounting policies [text block]	2. SIGNIFICANT ACCOUNTING POLICIES The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The consolidated financial statements included the accounts of Vermilion Energy Inc. and its subsidiaries. Vermilion’s subsidiaries include entities in each of the jurisdictions that Vermilion operates as described in Note 4 including: Canada, France, Netherlands, Germany, Ireland (through an Irish Branch of a Cayman Islands incorporated company), Australia, and the United States. Vermilion Energy Inc. directly or indirectly through holding companies owns all of the voting securities of each material subsidiary. Transactions between Vermilion Energy Inc. and its subsidiaries have been eliminated. Vermilion accounts for joint operations by recognizing the Company’s share of assets, liabilities, income and expenses. Vermilion classifies costs as Exploration and Evaluation (“E&;E”) assets when they relate to exploring and evaluating an area for which the Company has the licence or right to explore and extract resources. E&;E costs may include: geological and geophysical costs; land and license acquisition costs; and costs for the drilling, completion, and testing of exploration wells. E&;E costs are reclassified to capital assets if the technical feasibility and commercial viability of the area can be determined. E&;E assets are assessed for impairment prior to any reclassification. The technical feasibility and commercial viability of extracting the reserves is considered to be determinable when proved and probable reserves are identified. Costs incurred prior to the acquisition of the legal rights to explore an area are expensed as incurred. If reserves are not found within the license area or the area is abandoned, the related E&;E costs are amortized over a period not greater than five years. If an exploration license expires prior to the commencement of exploration activities, the cost of the exploration license is written off through depletion in the year of expiration. Vermilion recognizes capital assets at cost less accumulated depletion, depreciation and impairment losses. Costs include directly attributable costs incurred for the drilling and completion of wells and the construction of production and processing facilities. When components of capital assets are replaced, disposed of, or no longer in use, they are derecognized. Gains and losses on disposal of capital assets are determined by comparing the proceeds of disposal compared to the carrying amount. Capital assets are grouped into depletion units, which are groups of assets within a specific production area that have similar economic lives. Depletion units represent the lowest level of disaggregation for which costs are accumulated for the purposes of calculating depletion and depreciation. The net carrying value of each depletion unit is depleted using the unit of production method by reference to the ratio of production in the period to the total proved and probable reserves, taking into account the future development costs necessary to bring the applicable reserves into production. For the purposes of the depletion calculations, oil and gas reserves are converted to a common unit of measure on the basis of their relative energy content based on a conversion ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent. Depletion units are aggregated into cash generating units (“CGUs”) for impairment testing. CGUs are the lowest level for which there are identifiable cash inflows that are largely independent of cash inflows of other groups of assets. CGUs are reviewed for indicators of potential impairment at each reporting date. E&;E assets are tested for impairment when reclassified to capital assets or when indicators of potential impairment are identified. E&;E assets are reviewed for indicators of potential impairment at each reporting date. If indicators of potential impairment are identified, E&;E assets are tested for impairment as part of the CGU attributable to the jurisdiction the exploration area resides. If an indicator of potential impairment exists, the CGU’s carrying value is compared to its recoverable amount. A CGU’s recoverable amount is the higher of its fair value less costs of disposal and its value in use. If the carrying amount of a CGU exceeds its recoverable amount, an impairment loss is recognized to reduce the carrying value of the CGU to its recoverable amount. If an impairment loss has been recognized in a prior period, an assessment is performed at each reporting date to determine if the circumstances which led to the impairment loss have reversed. If the change in circumstances results in the recoverable amount being higher than the carrying value after the impairment loss, then the impairment loss (net of depletion that would otherwise have been recorded) is reversed. Finance leases are leases which transfer substantially all of the risks and rewards incidental to legal ownership of the leased asset to Vermilion. A finance lease obligation is recognized at the commencement of the lease term at the lower of fair value of the leased asset or the present value of the minimum lease payments. Interest expense is recognized on the finance lease obligation using the effective interest method. Cash and cash equivalents include cash on deposit with financial institutions and guaranteed investment certificates. Crude oil inventory is valued at the lower of cost or net realizable value. The cost of crude oil inventory produced includes related operating expense, royalties, and depletion determined on a weighted-average basis. Vermilion recognizes a provision for asset retirement obligations when an event occurs giving rise to an obligation of uncertain timing or amount. Asset retirement obligations are recognized on the consolidated balance sheet as a long-term liability with a corresponding increase to E&;E or capital assets. Asset retirement obligations reflect the present value of estimated future settlement costs. The discount rate used to calculate the present value is specific to the jurisdiction the obligation relates to and is reflective of current market assessment of the time value of money and risks specific to the liabilities that have not been reflected in the cash flow estimates. Asset retirement obligations are remeasured at each reporting period to reflect changes in discount rates and estimated future settlement costs. Asset retirement obligations are increased each reporting period to reflect the passage of time with a corresponding charge to accretion expense. Revenues associated with the sale of petroleum and natural gas are recorded when title passes to the customer. Revenue is recognized when all of the following conditions have been satisfied: • Vermilion has transferred the significant risks and rewards of ownership of the petroleum and natural gas to the customer; • Vermilion retains no continuing managerial involvement to the degree usually associated with ownership or effective control over the petroleum or natural gas sold; • The amount of the revenue can be reliably measured; • It is probable that the economic benefits associated with the transaction will flow to Vermilion; and • The costs incurred or to be incurred in respect of the transaction can be measured reliably. On initial recognition, financial instruments are measured at fair value. Measurement in subsequent periods depends on the classification of the financial instrument as described below: • Held for trading: Held for trading financial instruments are subsequently measured at fair value on the consolidated balance sheet and gains and losses are recognized in net earnings. Cash and cash equivalents and derivatives assets and liabilities are classified as held for trading. • Loans and receivables and other financial liabilities: Loans and receivables and other financial liabilities are subsequently measured at amortized cost. Accounts receivable are classified as loans and receivables. Accounts payable and accrued liabilities, dividends payable, finance lease, and long-term debt are classified as other financial liabilities. Equity based compensation expense results from equity-settled awards issued under Vermilion’s long-term share-based compensation plan (the “Vermilion Incentive Plan” or “VIP”) as well as the grant date fair value of Vermilion common shares issued under the Company’s bonus and employee share savings plans. Equity-settled awards issued under the VIP vest over a period of one to three years and awards outstanding are adjusted upon vesting by a performance factor determined by the Company’s Board of Directors. Equity based compensation expense for the VIP is recognized over the vesting period with a corresponding adjustment to contributed surplus. The expense recognized is based on the grant date fair value of the VIP awards, an estimate of the performance factor that will be achieved, and an estimate of forfeiture rates based on historical vesting data. Dividends notionally accrue to the VIP awards and are excluded in the determination of grant date fair values. Upon vesting, the amount recognized in contributed surplus is reclassified to shareholders’ capital. The grant date fair value of the equity-settled awards issued under the VIP and the grant date fair value of Vermilion common shares issued under the Company’s bonus and employee share savings plans are determined as the closing price of Vermilion’s common shares on the Toronto Stock Exchange on the grant date. Basic net earnings (loss) per share is calculated by dividing net earnings (loss) by the weighted-average number of shares outstanding during the period. Diluted net earnings (loss) per share is calculated by dividing net earnings (loss) by the diluted weighted-average number of shares outstanding during the period. The diluted weighted-average number of shares outstanding is the sum of the basic weighted-average number of shares outstanding and, to the extent inclusion reduces diluted net earnings per share, the number of shares issuable under the VIP determined using the treasury stock method. The treasury stock method assumes that the unrecognized equity based compensation expense are deemed proceeds used to repurchase Vermilion common shares at the average market price during the period. Vermilion Energy Inc.’s functional and presentation currency is the Canadian dollar. Vermilion has subsidiaries that transact and operate in countries other than Canada and have functional currencies other than the Canadian dollar. Foreign currency translations include the translation of foreign currency transactions and the translation of foreign operations. Foreign currency transaction translations occur when translating transactions in foreign currencies to the applicable functional currency of Vermilion Energy Inc. and its subsidiaries. Gains and losses from foreign currency transactions are recorded as foreign exchange gains or losses. Foreign currency transaction translations occur as follows: • Income and expenses are translated at the prevailing rates on the date of the transaction • Non-monetary assets or liabilities are carried at the prevailing rates on the date of the transaction • Monetary items are translated at the prevailing rates at the balance sheet date Foreign operation translations occur when translating the financial statements of non-Canadian functional currency subsidiaries to the Canadian dollar and when translating intercompany loans that are deemed to represent net investments in a foreign subsidiary. Gains and losses from foreign operation translations are recorded as currency translation adjustments. Foreign operation translations occur as follows: • Income and expenses are translated at the average exchange rates for the period • Assets and liabilities are translated at the prevailing rates on the balance sheet date. Deferred taxes are calculated using the balance sheet method. Deferred tax is recognized for the estimated effect of any temporary differences between the amounts recognized on Vermilion’s consolidated balance sheet and the respective tax basis. This calculation uses enacted or substantively enacted tax rates that are expected to be in effect when the temporary differences are expected to reverse. The effect of a change in tax rates on deferred taxes is recognized in the period the related legislation is substantively enacted. Deferred tax assets are recognized to the extent that it is probable that future taxable profits will be available against which the deductible temporary differences can be used. Deferred tax assets are reviewed at each reporting date and are reduced to the extent it is no longer probable that the related tax benefit will be realized. Acquisitions of corporations or groups of assets are accounted for as business combinations using the acquisition method if the acquired assets constitute a business. Under the acquisition method, assets acquired and liabilities assumed in a business combination are measured at the fair value. If applicable, the excess or deficiency of net assets acquired compared to consideration paid is recognized as a gain on business combination or as goodwill on the consolidated balance sheet. Acquisition-related costs incurred to effect a business combination are expensed in the period incurred. The preparation of the consolidated financial statements in accordance with IFRS requires management to make judgments, estimates, and assumptions that affect the reported amount of assets, liabilities, income and expenses. Actual results could differ significantly from these estimates. Key areas where management has made judgments, estimates, and assumptions include: • Asset retirement obligations: Asset retirement obligations are based on judgments regarding regulatory requirements, estimates of future costs, the expected timing of expenditures, and the underlying risk inherent to the asset based on the jurisdiction it relates to. The carrying balance of asset retirement obligations and accretion expense may differ due to changes in: laws and regulations, technology, the expected timing of expenditures, and market conditions affecting the discount rate applied. • Determination of CGUs: CGU determination is subject to management’s judgment of the lowest level at which there are identifiable cash inflows that are largely independent of the cash inflows of other groups of assets. The factors used by Vermilion to determine CGUs vary by jurisdiction due to their unique operating and geographic conditions. In general, Vermilion will assess the following factors: geographic proximity of the assets within a group to one another, geographic proximity of the group of assets to other groups of assets, homogeneity of the production from the group of assets and the sharing of infrastructure used to process and/or transport production. The composition of CGUs can directly impact the calculated recoverable amount of a CGU and the recorded impairment loss or recovery. • Assessment of impairments or recovery of previous impairments: The calculation of the recoverable amount of a CGU is based on market factors (including estimated future commodity prices) and estimates of reserves and resources. Reserve and resource estimates are based on: engineering data, estimated future commodity prices, expected future rates of production, and assumptions regarding the timing and amount of future expenditures. Changes in these judgments, estimates and assumptions can directly impact the calculated recoverable amount of a CGU and the recorded impairment loss or recovery. • Income Taxes: Tax interpretations, regulations, and legislation in the various jurisdictions in which Vermilion and its subsidiaries operate are subject to change and interpretation. Changes in laws and interpretations can affect the timing of the reversal of temporary tax differences, the tax rates in effect when such differences reverse and Vermilion’s ability to use tax losses and other tax pools in the future. The Company’s income tax filings are subject to audit by taxation authorities in numerous jurisdictions and the results of such audits may increase or decrease the tax liability. The determination of tax amounts recognized in the consolidated financial statements are based on management’s assessment of the tax positions, which includes consideration of their technical merits, communications with tax authorities and management’s view of the most likely outcome. Deferred tax assets and related valuation assessments are based on estimates of future profitability.

CHANGES TO ACCOUNTING PRONOUNCE

CHANGES TO ACCOUNTING PRONOUNCEMENTS	12 Months Ended
	Dec. 31, 2017
Disclosure of Changes To Accounting Pronouncements [Abstract]
Disclosure of expected impact of initial application of new standards or interpretations [text block]	3. CHANGES TO ACCOUNTING PRONOUNCEMENTS On January 1, 2018, Vermilion will adopt IFRS 9 "Financial Instruments" and IFRS 15 "Revenue from Contracts with Customers". IFRS 9 includes a new classification and measurement approach for financial assets and a forward-looking 'expected credit loss' model. Vermilion expects that there will be no material impact as a result of adopting IFRS 9. These changes are discussed in greater detail below: • New classification and measurement approach for financial assets: IFRS 9 contains three classifications for financial assets - measured at amortized cost, fair value through other comprehensive income, and fair value through profit or loss. Vermilion's held for trading financial instruments will be classified as fair value through profit or loss while Vermilion's loans and receivables will be classified as measured at amortized cost. The new classification requirements are not expected to result in a change in the measured amounts of these financial instruments. • Forward-looking 'expected credit loss' model: IFRS 9 includes a lifetime expected credit loss model that applies to Vermilion's accounts receivable. Based on the Company's actual credit loss experience and creditworthiness of Vermilion's customers and joint operations partners, the impact of adopting this credit loss model is not expected to be material. IFRS 15 establishes a comprehensive framework for determining whether, how much, and when revenue from contracts with customers is recognized. Vermilion's revenue consists of the sale of petroleum and natural gas to customers at specified delivery points with pricing determined based on benchmark pricing plus or minus applicable offsets. Based on the Company's historic and outstanding contracts with customers, Vermilion anticipates that there will be no material changes to the timing, measurement, or presentation of revenue upon adoption of IFRS 15. However, there will be additional disclosure requirements necessary to comply with IFRS 15. This additional disclosure will primarily relate to the disclosure of the disaggregation of revenue by commodity, information which is currently available within Vermilion's Management's Discussion and Analysis. Vermilion is required to adopt IFRS 16 "Leases" by January 1, 2019. IFRS 16 requires lessees to recognize a lease obligation and right-of-use asset for the majority of leases. On adoption, non-current assets, current liabilities, and non-current liabilities on Vermilion's consolidated balance sheet will increase. Interest expense will be recognized on the lease obligation and lease payments will be applied against the lease obligation. This is expected to result in a decrease to operating expense and general and administration expense. The quantitative impact of the adoption of IFRS 16 is currently being evaluated.

SEGMENTED INFORMATION

SEGMENTED INFORMATION	12 Months Ended
	Dec. 31, 2017
Disclosure Of Segmented Information [Abstract]
Disclosure of entity's operating segments [text block]	4. SEGMENTED INFORMATION Vermilion has a decentralized business unit structure designed to manage assets in each country the Company operates in. Excluding the Corporate segment, each of the below operating segments derives its revenues solely from the production and sale of petroleum and natural gas. Vermilion’s Corporate segment aggregates costs incurred at the Company’s Corporate head office located in Calgary, Alberta, Canada as well as costs incurred relating to Vermilion’s exploration activities in Central and Eastern Europe. These operating segments have similar economic characteristics as they do not currently generate revenue. Vermilion’s chief operating decision maker regularly reviews fund flows from operations generated by each of Vermilion’s operating segments. Fund flows from operations is a measure of profit or loss that provides the chief operating decision maker with the ability to assess the operating segments’ profitability and, correspondingly, the ability of each operating segment to fund its share of dividends, asset retirement obligations, and capital investments. Vermilion has three major customers with revenues in excess of 10% of consolidated revenues within the France, Netherlands, and Ireland operating segments. Substantially all sales in the France, Netherlands, and Ireland operating segments for the years ended December 31, 2017 and 2016 were to one customer in each respective segment. Year Ended December 31, 2017 ($M) Canada France Netherlands Germany Ireland Australia United States Corporate Total Total assets 1,542,193 831,783 203,929 295,026 667,068 236,677 73,867 124,422 3,974,965 Drilling and development 148,667 71,087 15,107 6,165 551 29,942 19,074 — 290,593 Exploration and evaluation — 2,294 16,468 3,366 — — — 7,728 29,856 Oil and gas sales to external customers 330,903 268,103 108,060 68,696 153,330 154,391 15,355 — 1,098,838 Royalties (33,258 ) (28,565 ) (1,722 ) (6,655 ) — — (4,276 ) — (74,476 ) Revenue from external customers 297,645 239,538 106,338 62,041 153,330 154,391 11,079 — 1,024,362 Transportation (17,368 ) (14,627 ) — (6,207 ) (5,205 ) — (41 ) — (43,448 ) Operating (80,444 ) (51,002 ) (21,212 ) (20,176 ) (17,596 ) (50,139 ) (1,698 ) — (242,267 ) General and administration (9,604 ) (13,585 ) (2,212 ) (7,767 ) (2,320 ) (8,194 ) (4,341 ) (6,350 ) (54,373 ) PRRT — — — — — (19,819 ) — — (19,819 ) Corporate income taxes — (10,556 ) 3,331 — — (4,536 ) — (527 ) (12,288 ) Interest expense — — — — — — — (57,313 ) (57,313 ) Realized gain on derivative instruments — — — — — — — 4,721 4,721 Realized foreign exchange gain — — — — — — — 2,316 2,316 Realized other income — — — — — — — 674 674 Fund flows from operations 190,229 149,768 86,245 27,891 128,209 71,703 4,999 (56,479 ) 602,565 Year Ended December 31, 2016 ($M) Canada France Netherlands Germany Ireland Australia United States Corporate Total Total assets 1,522,243 835,141 220,350 292,885 756,893 267,183 61,195 131,294 4,087,184 Drilling and development 62,706 68,472 23,740 3,803 9,375 59,910 13,539 — 241,545 Exploration and evaluation — — — — — — — 863 863 Oil and gas sales to external customers 252,867 246,863 100,707 29,049 109,156 136,835 7,314 — 882,791 Royalties (21,475 ) (27,091 ) (1,462 ) (2,089 ) — — (2,167 ) — (54,284 ) Revenue from external customers 231,392 219,772 99,245 26,960 109,156 136,835 5,147 — 828,507 Transportation (15,392 ) (14,758 ) — (2,869 ) (6,492 ) — — — (39,511 ) Operating (71,543 ) (50,000 ) (20,796 ) (12,379 ) (18,646 ) (47,507 ) (1,314 ) — (222,185 ) General and administration (11,826 ) (19,101 ) (1,525 ) (8,314 ) (4,772 ) (6,400 ) (3,624 ) 2,733 (52,829 ) PRRT — — — — — (1,568 ) — — (1,568 ) Corporate income taxes — (2,867 ) (6,624 ) — — (7,522 ) — (1,097 ) (18,110 ) Interest expense — — — — — — — (56,957 ) (56,957 ) Realized gain on derivative instruments — — — — — — — 65,376 65,376 Realized foreign exchange gain — — — — — — — 4,041 4,041 Realized other income — 3,822 — — — — — 205 4,027 Fund flows from operations 132,631 136,868 70,300 3,398 79,246 73,838 209 14,301 510,791 Reconciliation of fund flows from operations to net earnings (loss): Year Ended ($M) Dec 31, 2017 Dec 31, 2016 Fund flows from operations 602,565 510,791 Accretion (26,971 ) (24,783 ) Depletion and depreciation (491,683 ) (528,002 ) Impairment — (14,762 ) Gain on business combination — 22,001 Unrealized loss on derivative instruments (1,062 ) (137,993 ) Equity based compensation (61,579 ) (69,235 ) Unrealized foreign exchange gain (loss) 71,742 (792 ) Unrealized other expense (637 ) (131 ) Deferred tax (30,117 ) 82,855 Net earnings (loss) 62,258 (160,051 )

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about business combination [abstract]
Disclosure of business combinations [text block]	5. BUSINESS COMBINATIONS In December of 2016, Vermilion acquired, through a wholly-owned subsidiary, interests in production and exploration assets in Germany from Engie E&;P Deutschland GmbH. The acquisition includes operated and non-operated interests in five oil and three gas producing fields, along with an operated interest in one exploration license. The acquisition provides Vermilion its first operated producing properties in Germany, and advances the Company’s objective of developing a material business unit in this country. ($M) Consideration Cash paid to vendor 48,377 Total consideration 48,377 ($M) Allocation of Consideration Capital assets 142,350 Asset retirement obligations (66,965 ) Deferred taxes (7,767 ) Crude oil inventory 2,760 Net assets acquired 70,378 Gain on business combination (22,001 ) Total net assets acquired, net of gain on business combination 48,377 As the acquisition of control occurred late in 2016, the results of operations from the assets acquired were not significant to Vermilion's consolidated financial statements for the year ended December 31, 2016. Had the acquisition occurred on January 1, 2016, management estimates that consolidated revenues would have increased by $29.3 million and consolidated fund flows from operations would have increased by $8.1 million for the year ended December 31, 2016. The gain on business combination resulted from the recognition of additional reserve value when the acquisition closed in December 2016, compared to the estimated value in June when Vermilion entered into a definitive purchase and sale agreement and the acquisition price was determined.

CAPITAL ASSETS

CAPITAL ASSETS	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [abstract]
Disclosure of property, plant and equipment [text block]	6. CAPITAL ASSETS The following table reconciles the change in Vermilion's capital assets: ($M) 2017 2016 Balance at January 1 3,433,245 3,467,369 Additions 290,593 241,545 Transfers from exploration and evaluation assets 8,187 — Property acquisitions 25,390 189,853 Changes in asset retirement obligations (48,187 ) 149,492 Depletion and depreciation (479,698 ) (491,508 ) Recognition of finance lease asset — 960 Impairment — (14,762 ) Foreign exchange 108,435 (109,704 ) Balance at December 31 3,337,965 3,433,245 Cost 6,539,052 6,256,485 Accumulated depletion and depreciation (3,201,087 ) (2,823,240 ) Carrying amount at December 31 3,337,965 3,433,245 2017 Impairment Assessment As at December 31, 2017, Vermilion did not identify any indicators of impairment. On December 19, 2017, France's Parliament passed legislation impacting oil and gas exploration and production on French territories. The legislation eliminates the issuance of future oil and gas exploration licenses and places restrictions on oil and gas development starting in 2040. Vermilion assessed whether there are any indications of impairment in our cash generating units in France as a result of this legislation and determined that the value of the cash generating units have not significantly declined. The impact of this legislation is a decrease of less than 2% of Vermilion's reserves in France. As such, Vermilion concluded that the legislation does not constitute an indicator of impairment. 2016 Impairment As at December 31, 2016 Vermilion did not identify any indicators of impairment. However, in the first quarter of 2016, as a result of declines in price forecasts for European natural gas, Vermilion recorded a non-cash impairment charge of $14.8 million (based on a recoverable amount of $737.3 million) in the Ireland segment.

EXPLORATION AND EVALUATION ASSE

EXPLORATION AND EVALUATION ASSETS	12 Months Ended
	Dec. 31, 2017
Disclosure Of Exploration And Evaluation Assets [Abstract]
Disclosure of exploration and evaluation assets [text block]	7. EXPLORATION AND EVALUATION ASSETS ($M) 2017 2016 Balance at January 1 274,830 308,192 Additions 29,856 863 Property acquisitions 2,247 2,644 Changes in asset retirement obligations (30 ) 14 Transfers to capital assets (8,187 ) — Depreciation (11,727 ) (35,238 ) Foreign exchange 5,289 (1,645 ) Balance at December 31 292,278 274,830 Cost 354,615 333,835 Accumulated depreciation (62,337 ) (59,005 ) Carrying amount at December 31 292,278 274,830

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS	12 Months Ended
	Dec. 31, 2017
Disclosure Of Asset Retirement Obligations [Abstract]
Disclosure of other provisions, contingent liabilities and contingent assets [text block]	8. ASSET RETIREMENT OBLIGATIONS The following table reconciles the change in Vermilion’s asset retirement obligations: ($M) 2017 2016 Balance at January 1 525,022 305,613 Additional obligations recognized 3,273 68,288 Changes in estimates (48,904 ) 3,454 Obligations settled (9,334 ) (9,617 ) Accretion 26,971 24,783 Changes in discount rates (2,586 ) 144,729 Foreign exchange 22,738 (12,228 ) Balance at December 31 517,180 525,022 Vermilion has estimated the asset retirement obligations based on a total undiscounted future liability of $1.6 billion (2016 - $1.4 billion). These payments are expected to be made between 2018 and 2067, with the majority of spending occurring between 2027 and 2034 ($0.6 billion) and between 2063 and 2067 ($0.4 billion). Inflation rates used in determining the cash flow estimates were between 0.6% and 2.2% (2016 - between 0.5% and 2.2%). Vermilion calculated the present value of the obligations using a credit-adjusted risk-free rate, calculated using a credit spread of 3.8% (2016 - 3.8%) added to risk-free rates based on long-term, risk-free government bonds. The risk-free rates used as inputs to discount the obligations were as follows: Dec 31, 2017 Dec 31, 2016 Canada 2.3 % 2.3 % France 1.8 % 1.7 % Netherlands 0.5 % (0.3 )% Germany 1.0 % 0.9 % Ireland 0.4 % 0.5 % Australia 2.9 % 3.2 % USA 2.4 % 2.6 % A 0.5% increase/decrease in the discount rate applied to asset retirement obligations would decrease/increase asset retirement obligations by approximately $40.0 million. A one year increase/decrease in the expected timing of abandonment spend would decrease/increase asset retirement obligations by approximately $20.0 million.

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	12 Months Ended
	Dec. 31, 2017
Disclosure Of Derivative instruments [Abstract]
Disclosure of derivative financial instruments [text block]	9. DERIVATIVE INSTRUMENTS Bought Put Volume Weighted Average Bought Put Sold Call Volume Weighted Average Sold Call Sold Put Volume Weighted Average Sold Put Swap Volume Weighted Average Swap Additional Swap Volume Crude Oil Period Exercise date (1) Currency (bbl_d) Price / bbl (bbl_d) Price / bbl (bbl_d) Price / bbl (bbl_d) Price / bbl (bbld) (2) Dated Brent Swap Jan 2018 - Dec 2018 CAD — — — — — — 500 76.25 — 3-Way Collar Jul 2017 - Jun 2018 USD 2,000 55.00 2,000 64.06 2,000 45.00 — — — 3-Way Collar Jul 2017 - Dec 2018 USD 2,000 48.89 2,000 55.00 2,000 42.50 — — — 3-Way Collar Oct 2017 - Dec 2018 USD 2,000 50.50 2,000 55.75 2,000 43.00 — — — 3-Way Collar Dec 2017 - Mar 2018 USD 500 57.50 500 62.50 500 52.50 — — — 3-Way Collar Jan 2018 - Jun 2018 USD 1,000 53.58 1,000 59.50 1,000 46.25 — — — Collar Jan 2018 - Dec 2018 USD 1,000 50.00 1,000 57.50 — — — — — Swap Jan 2018 - Mar 2018 USD — — — — — — 750 67.22 — Swap Jan 2018 - Dec 2018 USD — — — — — — 1,000 55.00 — Swaption Apr 2018 - Mar 2019 Jan 31, 2018 USD — — — — — — 500 60.00 — Swaption Apr 2018 - Mar 2019 Mar 30, 2018 USD — — — — — — 750 64.33 — WTI Swap Jan 2018 - Jan 2018 CAD — — — — — — 1,000 75.50 — 3-Way Collar Jan 2018 - Jun 2018 USD 500 48.50 500 56.00 500 42.50 — — — Collar Jan 2018 - Dec 2018 USD 500 50.00 500 55.00 — — — — — Swap Jan 2018 - Jun 2018 USD — — — — — — 500 54.00 — Swap Jan 2018 - Dec 2018 USD — — — — — — 1,000 54.00 — Swaption Apr 2018 - Mar 2019 Jan 31, 2018 USD — — — — — — 250 54.00 — Bought Put Weighted Average Bought Sold Call Weighted Average Sold Sold Put Weighted Average Sold Swap Weighted Average Swap Additional Swap North American Gas Period Exercise date (1) Currency Volume (mmbtu_d) Put Price / mmbtu Volume (mmbtu_d) Call Price / mmbtu Volume (mmbtu_d) Put Price / mmbtu Volume (mmbtu_d) Price / mmbtu Volume (mmbtu_d) (2) AECO Swap Jan 2018 - Dec 2018 CAD — — — — — — 9,478 2.80 — AECO Basis (AECO less NYMEX HH) Swap Oct 2017 - Dec 2018 USD — — — — — — 10,000 (1.03 ) — Swap Jan 2018 - Dec 2018 USD — — — — — — 20,000 (0.95 ) — Swap Jan 2019 - Jun 2020 USD — — — — — — 2,500 (0.93 ) — NYMEX HH 3-Way Collar Oct 2017 - Dec 2018 USD 10,000 3.11 10,000 3.40 10,000 2.40 — — — 3-Way Collar Jan 2018 - Dec 2018 USD 10,000 3.06 10,000 3.40 10,000 2.40 — — — Swap Apr 2018 - Dec 2018 USD — — — — — — 10,000 3.10 — (1) The sold swaption instrument allows the counterparty, at the specified date, to enter into a derivative instrument contract with Vermilion at the above detailed terms. (2) On the last business day of each month, the counterparty has the option to increase the contracted volumes for the following month. Bought Put Weighted Average Bought Sold Call Weighted Average Sold Sold Put Weighted Average Sold Swap Weighted Average Swap Additional Swap European Gas Period Exercise date (1) Currency Volume (mmbtu_d) Put Price / mmbtu Volume (mmbtu_d) Call Price / mmbtu Volume (mmbtu_d) Put Price /mmbtu Volume (mmbtu_d) Price / mmbtu Volume (mmbtu_d) (2) NBP 3-Way Collar Apr 2018 - Sep 2018 EUR 4,913 4.73 4,913 5.42 4,913 3.52 — — — 3-Way Collar Jan 2019 - Dec 2019 EUR 14,740 4.82 14,740 5.52 14,740 3.74 — — — 3-Way Collar Jan 2019 - Dec 2020 EUR 7,370 4.96 7,370 5.76 7,370 3.74 — — — 3-Way Collar Jan 2020 - Dec 2020 EUR 14,740 4.85 14,740 5.63 14,740 3.88 — — — Swap Jan 2018 - Jan 2018 EUR — — — — — — 4,913 6.80 — Call Oct 2018 - Mar 2019 EUR — — 2,457 6.42 — — — — — Put Apr 2018 - Sep 2018 EUR — — — — 2,457 4.98 — — — Collar Jan 2018 - Dec 2018 GBP 2,500 3.15 2,500 3.82 — — — — — Swap Apr 2017 - Mar 2018 GBP — — — — — — 5,300 4.20 — Swap Jan 2018 - Dec 2018 GBP — — — — — — 2,500 4.04 5,000 NBP Basis (NBP less NYMEX HH) Collar Jan 2018 - Dec 2018 USD 2,500 1.85 2,500 4.00 — — — — — Collar Jan 2019 - Sep 2020 USD 7,500 2.07 7,500 4.00 — — — — — TTF 3-Way Collar Oct 2017 - Dec 2019 EUR 7,370 4.59 7,370 5.42 7,370 2.93 — — — 3-Way Collar Jan 2018 - Dec 2018 EUR 12,284 4.75 12,284 5.48 12,284 3.25 — — — 3-Way Collar Jan 2018 - Dec 2019 EUR 3,685 4.74 3,685 5.52 3,685 3.13 — — — 3-Way Collar Jan 2019 - Dec 2019 EUR 9,827 4.92 9,827 5.48 9,827 3.66 — — — Collar Jul 2016 - Mar 2018 EUR 2,457 5.61 4,913 6.90 — — — — — Collar Jan 2018 - Dec 2018 EUR 4,913 4.40 4,913 5.31 — — — — — Swap Jul 2016 - Jun 2018 EUR — — — — — — 2,559 5.89 — Swap Apr 2017 - Jun 2018 EUR — — — — — — 4,299 4.50 — Swap Oct 2017 - Dec 2018 EUR — — — — — — 17,197 4.80 — Swap Oct 2017 - Dec 2019 EUR — — — — — — 7,370 4.87 — Swap Jan 2018 - Dec 2019 EUR — — — — — — 1,228 5.00 — Swap Jul 2018 - Dec 2019 EUR — — — — — — 4,913 4.98 — Swap Jan 2019 - Dec 2019 EUR — — — — — — 2,457 4.92 — Swaption Jan 2019 - Dec 2020 April 30, 2018 EUR — — — — — — 9,827 5.28 — Cross Currency Interest Rate Receive Notional amount (USD) Rate (LIBOR +) Pay Notional amount(CAD) Rate (CDOR +) Swap Jan 2018 603,793,015 1.70 % 775,800,000 1.11 % (1) (2) The following table reconciles the change in the fair value of Vermilion’s derivative instruments: Year Ended ($M) Dec 31, 2017 Dec 31, 2016 Fair value of contracts, beginning of year (69,651 ) 68,342 Reversal of opening contracts settled during the year 43,324 (55,214 ) Realized gain on contracts settled during the year 4,721 65,376 Unrealized loss during the year on contracts outstanding at the end of the year (44,386 ) (82,779 ) Net receipt from counterparties on contract settlements during the year (4,721 ) (65,376 ) Fair value of contracts, end of year (70,713 ) (69,651 ) Comprised of: Current derivative asset 17,988 4,336 Current derivative liability (78,905 ) (47,660 ) Non-current derivative asset 2,552 1,157 Non-current derivative liability (12,348 ) (27,484 ) Fair value of contracts, end of year (70,713 ) (69,651 ) Year Ended ($M) Dec 31, 2017 Dec 31, 2016 Realized gain on contracts settled during the year (4,721 ) (65,376 ) Reversal of opening contracts settled during the year (43,324 ) 55,214 Unrealized loss during the year on contracts outstanding at the end of the year 44,386 82,779 (Gain) loss on derivative instruments (3,659 ) 72,617

LEASES

LEASES	12 Months Ended
	Dec. 31, 2017
Disclosure of leases [Abstract]
Disclosure of leases [text block]	10. LEASES Vermilion had the following future commitments associated with its operating leases: As at ($M) Dec 31, 2017 Dec 31, 2016 Less than 1 year 10,716 12,683 1 - 3 years 19,129 21,087 4 - 5 years 10,303 18,228 After 5 years 28 1,657 Total minimum lease payments 40,176 53,655 A solution gas facility used in Vermilion’s southeast Saskatchewan operations has been recorded as a finance lease. As at December 31, 2017 the carrying amount of the asset included in capital assets is $22.9 million (2016 - $26.1 million). Vermilion had the following future commitments associated with its finance lease: As at ($M) Dec 31, 2017 Dec 31, 2016 Less than 1 year 6,680 6,495 1 - 3 years 10,207 12,990 4 - 5 years 4,665 6,043 After 5 years 3,351 4,501 Total minimum lease payments 24,903 30,029 Amounts representing interest (3,526 ) (3,894 ) Present value of net minimum lease payments 21,377 26,135 Current portion of finance lease obligation (5,570 ) (6,507 ) Non-current portion of finance lease obligation 15,807 19,628

TAXES

TAXES	12 Months Ended
	Dec. 31, 2017
Disclosure Of Taxes [Abstract]
Disclosure of income tax [text block]	11. TAXES The following table reconciles Vermilion’s deferred tax asset and liability: As at ($M) Dec 31, 2017 Dec 31, 2016 Deferred tax liabilities: Capital assets (259,236 ) (265,772 ) Non-capital losses 34,703 20,561 Asset retirement obligations (27,868 ) (20,577 ) Unrealized foreign exchange (13,355 ) (15,386 ) Derivative contracts 11,386 — Other 1,262 (2,359 ) Deferred tax liabilities (253,108 ) (283,533 ) Deferred tax assets: Non-capital losses 342,202 155,447 Capital assets (294,178 ) (55,718 ) Asset retirement obligations 28,056 28,960 Derivative contracts 10,164 18,806 Unrealized foreign exchange (7,927 ) (72 ) Other 2,007 4,623 Deferred tax assets 80,324 152,046 Year Ended ($M) Dec 31, 2017 Dec 31, 2016 Earnings (loss) before income taxes 124,482 (223,228 ) Canadian corporate tax rate 27.0 % 27.0 % Expected tax expense (recovery) 33,610 (60,272 ) Increase (decrease) in taxes resulting from: Petroleum resource rent tax rate (PRRT) differential (1) 3,531 1,064 Foreign tax rate differentials (1), (2) 7,146 (16,675 ) Equity based compensation expense 10,343 14,987 Amended returns and changes to estimated tax pools and tax positions (17,246 ) 6,451 Statutory rate changes and the estimated reversal rates associated with temporary differences (3) (16,449 ) (53,150 ) De-recognition of deferred tax assets 44,608 46,253 Adjustment for uncertain tax positions 2,191 3,675 Other non-deductible items (5,510 ) (5,510 ) Provision for income taxes 62,224 (63,177 ) (1) In Australia, current taxes include both corporate income tax rates and PRRT. Corporate income tax rates were applied at a rate of 30% and PRRT was applied at a rate of 40%. (2) The applicable tax rates for 2017 were: 34.4% in France, 50.0% in the Netherlands, 26.3% in Germany, 25% in Ireland, and 35% in the United States. (3) On December 22, 2017, the Tax Cuts and Jobs Act was signed into law in the United States reducing the U.S. federal corporate income tax rate from 35% to 21%. On December 21, 2017, the French Parliament approved the Finance Bill for 2018. The Finance Bill for 2018 provides for a progressive decrease of the French standard corporate income tax rate from 34.43% to 25.825% by 2022. At December 31, 2017, Vermilion had $2.0 billion (2016 - $1.0 billion) of unused tax losses of which $0.5 billion (2016 - $0.5 billion) related to Vermilion's Canada segment and expire between 2030 and 2037. The majority of the remaining unused tax losses relate to Vermilion's Ireland segment and do not expire. The year-over-year increase in unused tax losses is due to a reclassification of Vermilion's Ireland tax pools from capital asset tax pools to tax loss pools - both types of tax pools can be applied directly against taxable income and neither type of tax pool is subject to expiration. At December 31, 2017, Vermilion has de-recognized $145.6 million (2016 - $96.1 million) of deferred tax assets relating to the aforementioned non-expiring tax loss pools in Ireland as there is uncertainty as to the Company’s ability to fully utilize such losses based on forecasted commodity prices in effect as at December 31, 2017. The aggregate amount of temporary differences associated with investments in subsidiaries for which deferred tax liabilities have not been recognized as at December 31, 2017 is approximately $1.2 billion (2016 – approximately $1.5 billion).

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2017
Disclosure Of Long-Term Debt [Abstract]
Disclosure of debt instruments [text block]	12. LONG-TERM DEBT The following table summarizes Vermilion’s outstanding long-term debt: As at ($M) Dec 31, 2017 Dec 31, 2016 Revolving credit facility 899,595 1,362,192 Senior unsecured notes 370,735 — Long-term debt 1,270,330 1,362,192 ($M) 2017 2016 Balance at January 1 1,362,192 1,387,899 (Repayments) borrowings on the revolving credit facility (450,646 ) 200,378 Issuance (repayment) of senior unsecured notes 391,906 (225,000 ) Amortization of transaction costs and prepaid interest 2,012 2,337 Foreign exchange (35,134 ) (3,422 ) Balance at December 31 1,270,330 1,362,192 Revolving Credit Facility As at ($M) Dec 31, 2017 Dec 31, 2016 Total facility amount 1,400,000 2,000,000 Amount drawn (899,595 ) (1,362,192 ) Letters of credit outstanding (7,400 ) (20,100 ) Unutilized capacity 493,005 617,708 The facility can be extended from time to time at the option of the lenders and upon notice from Vermilion. If no extension is granted by the lenders, the amounts owing pursuant to the facility are due at the maturity date. The facility is secured by various fixed and floating charges against the subsidiaries of Vermilion. The facility bears interest at a rate applicable to demand loans plus applicable margins. For the year ended December 31, 2017, the effective interest rate was 3.7% (2016 - 4.0%). For the year ended December 31, 2017, a 1% increase in the average Canadian prime interest rate would decrease net earnings before tax by $8.0 million (2016 - $11.7 million). In April 2017, as a result of proceeds from the issuance of the senior unsecured notes and projected liquidity requirements, Vermilion elected to reduce the total facility amount from $2.0 billion to $1.4 billion. As at Financial covenant Limit Dec 31, 2017 Dec 31, 2016 Consolidated total debt to consolidated EBITDA 4.0 1.87 2.36 Consolidated total senior debt to consolidated EBITDA 3.5 1.30 2.32 Consolidated total senior debt to total capitalization 55% 32 % 46 % The financial covenants include financial measures defined within the revolving credit facility agreement that are not defined under IFRS. These financial measures are defined by the revolving credit facility agreement as follows: • Consolidated total debt: Includes all amounts classified as “Long-term debt”, “Current portion of long-term debt”, and “Finance lease obligation” on our balance sheet. • Consolidated total senior debt: Defined as consolidated total debt excluding unsecured and subordinated debt. • Consolidated EBITDA: Defined as consolidated net earnings before interest, income taxes, depreciation, accretion and certain other non-cash items. • Total capitalization: Includes all amounts on the balance sheet classified as “Shareholders’ equity” plus consolidated total debt as defined above. As at December 31, 2017 and 2016, Vermilion was in compliance with the above covenants. Senior Unsecured Notes On March 13, 2017, Vermilion issued US $300.0 million of senior unsecured notes at par. The notes bear interest at a rate of 5.625% per annum, to be paid semi-annually on March 15 and September 15. The notes mature on March 15, 2025. As direct senior unsecured obligations of Vermilion, the notes rank equally with existing and future senior unsecured indebtedness of the Company. The senior unsecured notes were recognized at amortized cost and include the transaction costs directly related to the issuance. Vermilion may, at its option, redeem the notes prior to maturity as follows: • Prior to March 15, 2020, Vermilion may redeem up to 35% of the original principal amount of the senior unsecured notes with the proceeds of certain equity offerings by the Company at a redemption price of 105.625% of the principal amount plus any accrued and unpaid interest to the applicable redemption date. • Prior to March 15, 2020, Vermilion may redeem some or all of the senior unsecured notes at a price equal to 100% of the principal amount of the senior unsecured notes, plus an applicable premium and any accrued and unpaid interest. • On or after March 15, 2020, Vermilion may redeem some or all of the senior unsecured notes at the redemption prices set forth in the following table plus any accrued and unpaid interest. Year Redemption price 2020 104.219 % 2021 102.813 % 2022 101.406 % 2023 and thereafter 100.000 %

SHAREHOLDERS_ CAPITAL

SHAREHOLDERS’ CAPITAL	12 Months Ended
	Dec. 31, 2017
Disclosure of Shareholder's Capital [Abstract]
Disclosure of share capital, reserves and other equity interest [text block]	13. SHAREHOLDERS’ CAPITAL The following table reconciles the change in Vermilion’s shareholders’ capital: 2017 2016 Shares Shares Shareholders’ Capital ('000s) Amount ($M) ('000s) Amount ($M) Balance at January 1 118,263 2,452,722 111,991 2,181,089 Shares issued for the Dividend Reinvestment Plan 2,429 110,493 4,672 192,998 Vesting of equity based awards 1,060 69,743 1,320 67,146 Shares issued for equity based compensation 197 9,270 193 8,247 Share-settled dividends on vested equity based awards 170 8,478 87 3,242 Balance at December 31 122,119 2,650,706 118,263 2,452,722 Vermilion is authorized to issue an unlimited number of common shares with no par value. Dividends are approved by the Board of Directors and are paid monthly. Dividends declared to shareholders for the year ended December 31, 2017 were $311.4 million or $2.58 per common share (2016 - $299.1 million or $2.58 per common share). Subsequent to the end of year-end and prior to the consolidated financial statements being authorized for issue on February 28, 2018, Vermilion declared dividends of $52.6 million or $0.215 per share for each of January and February of 2018.

CAPITAL DISCLOSURES

CAPITAL DISCLOSURES	12 Months Ended
	Dec. 31, 2017
Disclosure Of Capital Disclosures [Abstract]
Disclosure of objectives, policies and processes for managing capital [text block]	Vermilion defines capital as net debt (long-term debt plus net working capital) and shareholders’ capital. Vermilion monitors the ratio of net debt to fund flows from operations. As at December 31, 2017 our ratio of net debt to trailing fund flows from operations is 2.3 (2016 - 2.8). Vermilion manages the ratio of net debt to fund flows from operations (refer to Financial Statement Note 4 - Segmented Information) by aligning capital expenditures, dividends, and asset retirement obligations with expected fund flows from operations. Vermilion intends for the ratio of net debt to fund flows from operations to trend towards 1.5 over time. The following table calculates Vermilion’s ratio of net debt to fund flows from operations: Year Ended ($M except as indicated) Dec 31, 2017 Dec 31, 2016 Long-term debt 1,270,330 1,362,192 Current liabilities 363,306 290,862 Current assets (261,846 ) (225,906 ) Net debt 1,371,790 1,427,148 Fund flows from operations 602,565 510,791 Ratio of net debt to fund flows from operations 2.3 2.8

EQUITY BASED COMPENSATION

EQUITY BASED COMPENSATION	12 Months Ended
	Dec. 31, 2017
Disclosure Of Equity Based Compensation [Abstract]
Disclosure of share-based payment arrangements [text block]	15. EQUITY BASED COMPENSATION The following table summarizes the number of awards outstanding under the Vermilion Incentive Plan (“VIP”): Number of Awards ('000s) 2017 2016 Opening balance 1,738 1,711 Granted 563 777 Vested (539 ) (628 ) Modified — 11 Forfeited (77 ) (133 ) Closing balance 1,685 1,738 For the year ended December 31, 2017, the awards granted had a weighted average fair value of $49.44 (2016 - $38.41). Equity based compensation expense is calculated based on the number of VIP awards outstanding multiplied by the estimated performance factor that will be realized upon vesting (2017 - 1.9; 2016 - 1.9) adjusted by an estimated annual forfeiture rate (2017 - 4.4%; 2016 - 4.6%). Equity based compensation expense related to the VIP of $52.3 million was recorded during the year ended December 31, 2017 (2016 - $61.0 million).

PER SHARE AMOUNTS

PER SHARE AMOUNTS	12 Months Ended
	Dec. 31, 2017
Disclosure Of Per Share Amounts [Abstract]
Disclosure of earnings per share [text block]	16. PER SHARE AMOUNTS Year Ended ($M except per share amounts) Dec 31, 2017 Dec 31, 2016 Net earnings (loss) 62,258 (160,051 ) Basic weighted average shares outstanding ('000s) 120,582 115,695 Dilutive impact of VIP ('000s) 1,826 — Diluted weighted average shares outstanding ('000s) 122,408 115,695 Basic earnings per share 0.52 (1.38 ) Diluted earnings per share 0.51 (1.38 )

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about financial instruments [abstract]
Disclosure of financial instruments [text block]	Classification of Financial Instruments The following table summarizes information relating to Vermilion’s financial instruments: As at Dec 31, 2017 As at Dec 31, 2016 Carrying value Fair value Carrying value Fair value FINANCIAL ASSETS Held for trading Cash and cash equivalents 46,561 46,561 62,775 62,775 Derivative assets 20,540 20,540 5,493 5,493 Loans and receivables Accounts receivable 165,760 165,760 131,719 131,719 FINANCIAL LIABILITIES Held for trading Derivative liabilities (91,253 ) (91,253 ) (75,144 ) (75,144 ) Other financial liabilities Accounts payable and accrued liabilities (219,084 ) (219,084 ) (181,557 ) (181,557 ) Dividends payable (26,256 ) (26,256 ) (25,426 ) (25,426 ) Long-term debt (1,270,330 ) (1,274,891 ) (1,362,192 ) (1,362,192 ) Fair value measurements are categorized into a fair value hierarchy based on the lowest level input that is significant to the fair value measurement. • Level 1 inputs are determined by reference to unadjusted quoted prices in active markets for identical assets or liabilities. Inputs used in fair value measurement of cash and cash equivalents and the senior unsecured notes (which are included in long-term debt as at December 31, 2017) are categorized as Level 1. • Level 2 inputs are determined based on inputs other than unadjusted quoted prices that are observable, either directly or indirectly. The fair value of Vermilion’s derivative assets and liabilities are determined using pricing models that incorporate future price forecasts (supported by prices from observable market transactions) and credit risk adjustments. • Level 3 inputs are not based on observable market data. Vermilion does not have any financial instruments classified as Level 3. There were no transfers between levels in the hierarchy in the years ended December 31, 2017 and 2016. The carrying value of accounts receivable, accounts payable and accrued liabilities, and dividends payable are a reasonable approximation of their fair value due to the short maturity of these financial instruments. The carrying value of long-term debt outstanding on the revolving credit facility approximates its fair value due to the use of short-term borrowing instruments at market rates of interest. Nature and Extent of Risks Associated with Financial Instruments Vermilion is exposed to financial risks from its financial instruments. These financial risks include: market risk, credit risk, and liquidity risk. Market Risk Market risk includes: commodity price risk, interest rate risk, and currency risk. Commodity price risk Vermilion is exposed to commodity price risk on its derivative assets and liabilities which are used as part of the Company’s risk management program to mitigate the effects of changes in commodity prices on future cash flows. While transactions of this nature relate to a forecasted future petroleum and natural gas production, Vermilion does not designate these derivative assets and liabilities as accounting hedges. As such, changes in commodity prices impact the fair value of derivative instruments and the corresponding gains or losses on derivative instruments. Currency risk Vermilion is exposed to currency risk on its financial instruments denominated in foreign currencies. These financial instruments include cash and cash equivalents, accounts receivables, accounts payables, long-term debt, derivative assets and derivative liabilities. These financial instruments are primarily denominated in the US dollar and the Euro. Vermilion monitors its exposure to currency risk and reviews whether the use of derivative financial instruments is appropriate to manage potential fluctuations in foreign exchange rates. Interest rate risk Vermilion is exposed to interest rate risk on its revolving credit facility, which consists of short-term borrowing instruments that bear interest at market rates. Thus, changes in interest rates could result in an increase or decrease in the amount paid by Vermilion to service this debt. Vermilion managed exposure to interest rate risk in 2017 by reducing the drawn amount on its revolving credit facility through the issuance of the US $300.0 million of senior unsecured notes which bear interest at a fixed 5.625% per annum. Additionally, throughout both 2016 and 2017, Vermilion had in place $200 million in interest rate swaps that mitigated some of the effects of changes in variable interest rates. Subsequent to 2017, as a result of favourable changes to interest rate curves resulting in an increase in the mark-to-market value of these interest rate swaps, these interest rate swaps were monetized. ($M) Dec 31, 2017 Dec 31, 2016 Currency risk - Euro to Canadian dollar $0.01 increase in strength of the Canadian dollar against the Euro (4,607 ) (859 ) $0.01 decrease in strength of the Canadian dollar against the Euro 4,607 859 Currency risk - US dollar to Canadian dollar $0.01 increase in strength of the Canadian dollar against the US $ 2,239 (9,184 ) $0.01 decrease in strength of the Canadian dollar against the US $ (2,239 ) 9,184 Commodity price risk - Crude oil US $5.00/bbl increase in crude oil price used to determine the fair value of derivatives (21,616 ) (26,513 ) US $5.00/bbl decrease in crude oil price used to determine the fair value of derivatives 19,845 18,882 Commodity price risk - European natural gas € 0.5/GJ increase in European natural gas price used to determine the fair value of derivatives (32,642 ) 36,999 € 0.5/GJ decrease in European natural gas price used to determine the fair value of derivatives 25,321 (33,019 ) The table above shows the before tax effect on net earnings for a $0.01 change in the Canadian dollar against the US dollar based on long-term debt and other financial instruments. As at December 31, 2017, Vermilion had US $0.6 billion in cross currency interest rate swaps as well as offsetting borrowings of $US 0.6 billion on the revolving credit facility. As such, the $2.2 million increase or decrease shown above for the year ended December 31, 2017 primarily related to Vermilion's US $300.0 million in senior unsecured notes issued in 2017. As at December 31, 2016, Vermilion had US $0.9 billion in cross currency interest rate swaps effective for January 2017. Subsequent to December 31, 2016, Vermilion repaid $1.2 billion of borrowings on the revolving credit facility bearing interest at CDOR (Canadian Dollar Offered Rate) plus applicable margins, and simultaneously borrowed US $0.9 billion on the revolving credit facility bearing interest at LIBOR (London Interbank Offered Rate) plus applicable margins. As this transaction occurred subsequent to December 31, 2016, it was not included in the calculations shown in the above table. If included, the before tax effect on net earnings for a $0.01 increase/decrease in the Canadian dollar against the US dollar as at December 31, 2016 would have been a decrease/increase of $0.3 million. Credit Risk: Vermilion is exposed to credit risk on accounts receivable and derivative assets in the event that customers, joint operation partners, or counterparties fail to discharge their contractual obligations. As at December 31, 2017, Vermilion’s maximum exposure to receivable credit risk was $186.3 million (December 31, 2016 - $137.2 million) which is the value of accounts receivable and derivative assets on the balance sheet. Vermilion’s accounts receivable primarily relates to customers and joint operations partners in the petroleum and natural gas industry. These amounts are subject to normal industry payment terms and credit risks. Vermilion manages these risks by monitoring the creditworthiness of customers and joint operations partners and, where appropriate, obtaining assurances such as parental guarantees and letters of credit. As at the balance sheet date, approximately 0.7% (2016 - 2.1%) of the accounts receivable balance was outstanding for more than 90 days. Vermilion considers the balance of accounts receivable to be collectible. Vermilion’s derivative assets primarily relates to the fair value of financial instruments used as part of the Company’s risk management program to mitigate the effects of changes in commodity prices on future cash flows. Vermilion manages this risk by monitoring the creditworthiness of counterparties, transacting primarily with counterparties that have investment grade third party credit ratings, and by limiting the concentration of financial exposure to individual counterparties. As a result, Vermilion has not obtained collateral or other security to support its financial derivatives. Vermilion’s cash deposited in financial institutions and guaranteed investment certificates are also subject to counterparty credit risk. Vermilion mitigates this risk by transacting with financial institutions with high third party credit ratings. Liquidity Risk: Liquidity risk is the risk that Vermilion will encounter difficulty in meeting obligations associated with its financial liabilities. Vermilion does not consider this to be a significant risk as its financial position and available committed borrowing facility provide significant financial flexibility and allow Vermilion to meet its obligations as they come due. 1 month to 3 months to 1 year to ($M) 1 month 3 months 1 year 5 years December 31, 2017 99,092 138,273 7,974 912,306 December 31, 2016 79,509 120,233 7,241 1,377,819

RELATED PARTY DISCLOSURES

RELATED PARTY DISCLOSURES	12 Months Ended
	Dec. 31, 2017
Disclosure Of Related Party Disclosures [Abstract]
Disclosure of related party [text block]	18. RELATED PARTY DISCLOSURES The compensation of directors and management is reviewed annually by the independent Governance and Human Resources Committee against industry practices for oil and gas companies of similar size and scope. Year Ended ($M) Dec 31, 2017 Dec 31, 2016 Short-term benefits 5,183 4,748 Share-based payments 20,135 20,169 25,318 24,917 Number of individuals included in the above amounts 20 18 During the year ended December 31, 2017, Vermilion recorded $0.2 million of office rent recoveries (2016 - $0.2 million) relating to an office sub-lease to a company whose Managing Director is also a member of Vermilion's Board of Directors. This related party transaction is provided in the normal course of business under the same commercial terms and conditions as transactions with unrelated companies and is recorded at the exchange amount.

SUPPLEMENTAL INFORMATION

SUPPLEMENTAL INFORMATION	12 Months Ended
	Dec. 31, 2017
Disclosure Of Supplemental Information [Abstract]
Disclosure Of Supplemental Information [text block]	19. SUPPLEMENTAL INFORMATION Year Ended ($M) Dec 31, 2017 Dec 31, 2016 Changes in: Accounts receivable (34,041 ) 28,780 Crude oil inventory (2,577 ) 1,311 Prepaid expenses (1,884 ) 1,762 Accounts payable and accrued liabilities 37,527 (67,190 ) Income taxes payable 2,842 30,213 Foreign exchange (795 ) 1,192 Changes in non-cash working capital 1,072 (3,932 ) Changes in non-cash operating working capital 665 8,366 Changes in non-cash investing working capital 407 (12,298 ) Changes in non-cash working capital 1,072 (3,932 ) As at ($M) Dec 31, 2017 Dec 31, 2016 Cash on deposit with financial institutions 46,229 62,614 Guaranteed investment certificates 332 161 Cash and cash equivalents 46,561 62,775 Year Ended ($M) 2017 2016 Operating expense 48,823 45,061 General and administration expense 36,708 35,347 Wages and benefits 85,531 80,408

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2017
Disclosure of non-adjusting events after reporting period [abstract]
Disclosure of non-adjusting events after reporting period [text block]	20. SUBSEQUENT EVENTS On February 15, 2018, Vermilion acquired all of the issued and outstanding shares of a private producer with assets in southeast Saskatchewan and southwest Manitoba. The acquisition is comprised of light oil producing fields near Vermilion's existing operations in southeast Saskatchewan. Total consideration of $90.8 million, which includes both cash paid to the shareholders' of the acquiree and the assumption of the acquiree's long-term debt, was funded through Vermilion's revolving credit facility. Given the recent timing of the acquisition, at the time these financial statements were authorized for issue, the initial accounting for the business combination is incomplete. Accordingly, not all relevant disclosures are available for the business combination. The Company will report the purchase price allocation and related disclosures in Vermilion's interim consolidated financial statements for the three months ended March 31, 2018.

SIGNIFICANT ACCOUNTING POLICI26

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Significant Accounting Policies [Abstract]
Description of accounting policy for accounting framework [text block]	Accounting Framework The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”).
Description of accounting policy for principles of consolidation [text block]	Principles of Consolidation The consolidated financial statements included the accounts of Vermilion Energy Inc. and its subsidiaries. Vermilion’s subsidiaries include entities in each of the jurisdictions that Vermilion operates as described in Note 4 including: Canada, France, Netherlands, Germany, Ireland (through an Irish Branch of a Cayman Islands incorporated company), Australia, and the United States. Vermilion Energy Inc. directly or indirectly through holding companies owns all of the voting securities of each material subsidiary. Transactions between Vermilion Energy Inc. and its subsidiaries have been eliminated. Vermilion accounts for joint operations by recognizing the Company’s share of assets, liabilities, income and expenses.
Description of accounting policy for exploration and evaluation expenditures [text block]	Exploration and Evaluation Assets Vermilion classifies costs as Exploration and Evaluation (“E&;E”) assets when they relate to exploring and evaluating an area for which the Company has the licence or right to explore and extract resources. E&;E costs may include: geological and geophysical costs; land and license acquisition costs; and costs for the drilling, completion, and testing of exploration wells. E&;E costs are reclassified to capital assets if the technical feasibility and commercial viability of the area can be determined. E&;E assets are assessed for impairment prior to any reclassification. The technical feasibility and commercial viability of extracting the reserves is considered to be determinable when proved and probable reserves are identified. Costs incurred prior to the acquisition of the legal rights to explore an area are expensed as incurred. If reserves are not found within the license area or the area is abandoned, the related E&;E costs are amortized over a period not greater than five years. If an exploration license expires prior to the commencement of exploration activities, the cost of the exploration license is written off through depletion in the year of expiration.
Description of accounting policy for property, plant and equipment [text block]	Capital Assets Vermilion recognizes capital assets at cost less accumulated depletion, depreciation and impairment losses. Costs include directly attributable costs incurred for the drilling and completion of wells and the construction of production and processing facilities. When components of capital assets are replaced, disposed of, or no longer in use, they are derecognized. Gains and losses on disposal of capital assets are determined by comparing the proceeds of disposal compared to the carrying amount.
Description of accounting policy for depreciation expense [text block]	Depletion and Depreciation Capital assets are grouped into depletion units, which are groups of assets within a specific production area that have similar economic lives. Depletion units represent the lowest level of disaggregation for which costs are accumulated for the purposes of calculating depletion and depreciation. The net carrying value of each depletion unit is depleted using the unit of production method by reference to the ratio of production in the period to the total proved and probable reserves, taking into account the future development costs necessary to bring the applicable reserves into production. For the purposes of the depletion calculations, oil and gas reserves are converted to a common unit of measure on the basis of their relative energy content based on a conversion ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent.
Description of accounting policy for impairment of assets [text block]	Impairment of Capital Assets and Exploration and Evaluation Assets Depletion units are aggregated into cash generating units (“CGUs”) for impairment testing. CGUs are the lowest level for which there are identifiable cash inflows that are largely independent of cash inflows of other groups of assets. CGUs are reviewed for indicators of potential impairment at each reporting date. E&;E assets are tested for impairment when reclassified to capital assets or when indicators of potential impairment are identified. E&;E assets are reviewed for indicators of potential impairment at each reporting date. If indicators of potential impairment are identified, E&;E assets are tested for impairment as part of the CGU attributable to the jurisdiction the exploration area resides. If an indicator of potential impairment exists, the CGU’s carrying value is compared to its recoverable amount. A CGU’s recoverable amount is the higher of its fair value less costs of disposal and its value in use. If the carrying amount of a CGU exceeds its recoverable amount, an impairment loss is recognized to reduce the carrying value of the CGU to its recoverable amount. If an impairment loss has been recognized in a prior period, an assessment is performed at each reporting date to determine if the circumstances which led to the impairment loss have reversed. If the change in circumstances results in the recoverable amount being higher than the carrying value after the impairment loss, then the impairment loss (net of depletion that would otherwise have been recorded) is reversed.
Description of accounting policy for leases [text block]	Finance Leases Finance leases are leases which transfer substantially all of the risks and rewards incidental to legal ownership of the leased asset to Vermilion. A finance lease obligation is recognized at the commencement of the lease term at the lower of fair value of the leased asset or the present value of the minimum lease payments. Interest expense is recognized on the finance lease obligation using the effective interest method.
Description of accounting policy for determining components of cash and cash equivalents [text block]	Cash and Cash Equivalents Cash and cash equivalents include cash on deposit with financial institutions and guaranteed investment certificates.
Description of accounting policy for measuring inventories [text block]	Crude Oil Inventory Crude oil inventory is valued at the lower of cost or net realizable value. The cost of crude oil inventory produced includes related operating expense, royalties, and depletion determined on a weighted-average basis.
Description of accounting policy for asset retirement obligation [text block]	Asset Retirement Obligations Vermilion recognizes a provision for asset retirement obligations when an event occurs giving rise to an obligation of uncertain timing or amount. Asset retirement obligations are recognized on the consolidated balance sheet as a long-term liability with a corresponding increase to E&;E or capital assets. Asset retirement obligations reflect the present value of estimated future settlement costs. The discount rate used to calculate the present value is specific to the jurisdiction the obligation relates to and is reflective of current market assessment of the time value of money and risks specific to the liabilities that have not been reflected in the cash flow estimates. Asset retirement obligations are remeasured at each reporting period to reflect changes in discount rates and estimated future settlement costs. Asset retirement obligations are increased each reporting period to reflect the passage of time with a corresponding charge to accretion expense.
Description of accounting policy for recognition of revenue [text block]	Revenue Recognition Revenues associated with the sale of petroleum and natural gas are recorded when title passes to the customer. Revenue is recognized when all of the following conditions have been satisfied: • Vermilion has transferred the significant risks and rewards of ownership of the petroleum and natural gas to the customer; • Vermilion retains no continuing managerial involvement to the degree usually associated with ownership or effective control over the petroleum or natural gas sold; • The amount of the revenue can be reliably measured; • It is probable that the economic benefits associated with the transaction will flow to Vermilion; and • The costs incurred or to be incurred in respect of the transaction can be measured reliably.
Description of accounting policy for financial instruments [text block]	Financial Instruments On initial recognition, financial instruments are measured at fair value. Measurement in subsequent periods depends on the classification of the financial instrument as described below: • Held for trading: Held for trading financial instruments are subsequently measured at fair value on the consolidated balance sheet and gains and losses are recognized in net earnings. Cash and cash equivalents and derivatives assets and liabilities are classified as held for trading. • Loans and receivables and other financial liabilities: Loans and receivables and other financial liabilities are subsequently measured at amortized cost. Accounts receivable are classified as loans and receivables. Accounts payable and accrued liabilities, dividends payable, finance lease, and long-term debt are classified as other financial liabilities.
Description of accounting policy for share-based payment transactions [text block]	Equity Based Compensation Equity based compensation expense results from equity-settled awards issued under Vermilion’s long-term share-based compensation plan (the “Vermilion Incentive Plan” or “VIP”) as well as the grant date fair value of Vermilion common shares issued under the Company’s bonus and employee share savings plans. Equity-settled awards issued under the VIP vest over a period of one to three years and awards outstanding are adjusted upon vesting by a performance factor determined by the Company’s Board of Directors. Equity based compensation expense for the VIP is recognized over the vesting period with a corresponding adjustment to contributed surplus. The expense recognized is based on the grant date fair value of the VIP awards, an estimate of the performance factor that will be achieved, and an estimate of forfeiture rates based on historical vesting data. Dividends notionally accrue to the VIP awards and are excluded in the determination of grant date fair values. Upon vesting, the amount recognized in contributed surplus is reclassified to shareholders’ capital. The grant date fair value of the equity-settled awards issued under the VIP and the grant date fair value of Vermilion common shares issued under the Company’s bonus and employee share savings plans are determined as the closing price of Vermilion’s common shares on the Toronto Stock Exchange on the grant date.
Description of accounting policy for earnings per share [text block]	Per Share Amounts Basic net earnings (loss) per share is calculated by dividing net earnings (loss) by the weighted-average number of shares outstanding during the period. Diluted net earnings (loss) per share is calculated by dividing net earnings (loss) by the diluted weighted-average number of shares outstanding during the period. The diluted weighted-average number of shares outstanding is the sum of the basic weighted-average number of shares outstanding and, to the extent inclusion reduces diluted net earnings per share, the number of shares issuable under the VIP determined using the treasury stock method. The treasury stock method assumes that the unrecognized equity based compensation expense are deemed proceeds used to repurchase Vermilion common shares at the average market price during the period.
Description of accounting policy for foreign currency translation [text block]	Foreign Currency Translation Vermilion Energy Inc.’s functional and presentation currency is the Canadian dollar. Vermilion has subsidiaries that transact and operate in countries other than Canada and have functional currencies other than the Canadian dollar. Foreign currency translations include the translation of foreign currency transactions and the translation of foreign operations. Foreign currency transaction translations occur when translating transactions in foreign currencies to the applicable functional currency of Vermilion Energy Inc. and its subsidiaries. Gains and losses from foreign currency transactions are recorded as foreign exchange gains or losses. Foreign currency transaction translations occur as follows: • Income and expenses are translated at the prevailing rates on the date of the transaction • Non-monetary assets or liabilities are carried at the prevailing rates on the date of the transaction • Monetary items are translated at the prevailing rates at the balance sheet date Foreign operation translations occur when translating the financial statements of non-Canadian functional currency subsidiaries to the Canadian dollar and when translating intercompany loans that are deemed to represent net investments in a foreign subsidiary. Gains and losses from foreign operation translations are recorded as currency translation adjustments. Foreign operation translations occur as follows: • Income and expenses are translated at the average exchange rates for the period • Assets and liabilities are translated at the prevailing rates on the balance sheet date.
Description of accounting policy for income tax [text block]	Income Taxes Deferred taxes are calculated using the balance sheet method. Deferred tax is recognized for the estimated effect of any temporary differences between the amounts recognized on Vermilion’s consolidated balance sheet and the respective tax basis. This calculation uses enacted or substantively enacted tax rates that are expected to be in effect when the temporary differences are expected to reverse. The effect of a change in tax rates on deferred taxes is recognized in the period the related legislation is substantively enacted. Deferred tax assets are recognized to the extent that it is probable that future taxable profits will be available against which the deductible temporary differences can be used. Deferred tax assets are reviewed at each reporting date and are reduced to the extent it is no longer probable that the related tax benefit will be realized.
Description of accounting policy for business combinations [text block]	Business Combinations Acquisitions of corporations or groups of assets are accounted for as business combinations using the acquisition method if the acquired assets constitute a business. Under the acquisition method, assets acquired and liabilities assumed in a business combination are measured at the fair value. If applicable, the excess or deficiency of net assets acquired compared to consideration paid is recognized as a gain on business combination or as goodwill on the consolidated balance sheet. Acquisition-related costs incurred to effect a business combination are expensed in the period incurred.
Description of accounting policy for management judgements and estimation uncertainty [text block]	The preparation of the consolidated financial statements in accordance with IFRS requires management to make judgments, estimates, and assumptions that affect the reported amount of assets, liabilities, income and expenses. Actual results could differ significantly from these estimates. Key areas where management has made judgments, estimates, and assumptions include: • Asset retirement obligations: Asset retirement obligations are based on judgments regarding regulatory requirements, estimates of future costs, the expected timing of expenditures, and the underlying risk inherent to the asset based on the jurisdiction it relates to. The carrying balance of asset retirement obligations and accretion expense may differ due to changes in: laws and regulations, technology, the expected timing of expenditures, and market conditions affecting the discount rate applied. • Determination of CGUs: CGU determination is subject to management’s judgment of the lowest level at which there are identifiable cash inflows that are largely independent of the cash inflows of other groups of assets. The factors used by Vermilion to determine CGUs vary by jurisdiction due to their unique operating and geographic conditions. In general, Vermilion will assess the following factors: geographic proximity of the assets within a group to one another, geographic proximity of the group of assets to other groups of assets, homogeneity of the production from the group of assets and the sharing of infrastructure used to process and/or transport production. The composition of CGUs can directly impact the calculated recoverable amount of a CGU and the recorded impairment loss or recovery. • Assessment of impairments or recovery of previous impairments: The calculation of the recoverable amount of a CGU is based on market factors (including estimated future commodity prices) and estimates of reserves and resources. Reserve and resource estimates are based on: engineering data, estimated future commodity prices, expected future rates of production, and assumptions regarding the timing and amount of future expenditures. Changes in these judgments, estimates and assumptions can directly impact the calculated recoverable amount of a CGU and the recorded impairment loss or recovery. • Income Taxes: Tax interpretations, regulations, and legislation in the various jurisdictions in which Vermilion and its subsidiaries operate are subject to change and interpretation. Changes in laws and interpretations can affect the timing of the reversal of temporary tax differences, the tax rates in effect when such differences reverse and Vermilion’s ability to use tax losses and other tax pools in the future. The Company’s income tax filings are subject to audit by taxation authorities in numerous jurisdictions and the results of such audits may increase or decrease the tax liability. The determination of tax amounts recognized in the consolidated financial statements are based on management’s assessment of the tax positions, which includes consideration of their technical merits, communications with tax authorities and management’s view of the most likely outcome. Deferred tax assets and related valuation assessments are based on estimates of future profitability.

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Segmented Information [Abstract]
Disclosure of operating segments [text block]	Substantially all sales in the France, Netherlands, and Ireland operating segments for the years ended December 31, 2017 and 2016 were to one customer in each respective segment. Year Ended December 31, 2017 ($M) Canada France Netherlands Germany Ireland Australia United States Corporate Total Total assets 1,542,193 831,783 203,929 295,026 667,068 236,677 73,867 124,422 3,974,965 Drilling and development 148,667 71,087 15,107 6,165 551 29,942 19,074 — 290,593 Exploration and evaluation — 2,294 16,468 3,366 — — — 7,728 29,856 Oil and gas sales to external customers 330,903 268,103 108,060 68,696 153,330 154,391 15,355 — 1,098,838 Royalties (33,258 ) (28,565 ) (1,722 ) (6,655 ) — — (4,276 ) — (74,476 ) Revenue from external customers 297,645 239,538 106,338 62,041 153,330 154,391 11,079 — 1,024,362 Transportation (17,368 ) (14,627 ) — (6,207 ) (5,205 ) — (41 ) — (43,448 ) Operating (80,444 ) (51,002 ) (21,212 ) (20,176 ) (17,596 ) (50,139 ) (1,698 ) — (242,267 ) General and administration (9,604 ) (13,585 ) (2,212 ) (7,767 ) (2,320 ) (8,194 ) (4,341 ) (6,350 ) (54,373 ) PRRT — — — — — (19,819 ) — — (19,819 ) Corporate income taxes — (10,556 ) 3,331 — — (4,536 ) — (527 ) (12,288 ) Interest expense — — — — — — — (57,313 ) (57,313 ) Realized gain on derivative instruments — — — — — — — 4,721 4,721 Realized foreign exchange gain — — — — — — — 2,316 2,316 Realized other income — — — — — — — 674 674 Fund flows from operations 190,229 149,768 86,245 27,891 128,209 71,703 4,999 (56,479 ) 602,565 Year Ended December 31, 2016 ($M) Canada France Netherlands Germany Ireland Australia United States Corporate Total Total assets 1,522,243 835,141 220,350 292,885 756,893 267,183 61,195 131,294 4,087,184 Drilling and development 62,706 68,472 23,740 3,803 9,375 59,910 13,539 — 241,545 Exploration and evaluation — — — — — — — 863 863 Oil and gas sales to external customers 252,867 246,863 100,707 29,049 109,156 136,835 7,314 — 882,791 Royalties (21,475 ) (27,091 ) (1,462 ) (2,089 ) — — (2,167 ) — (54,284 ) Revenue from external customers 231,392 219,772 99,245 26,960 109,156 136,835 5,147 — 828,507 Transportation (15,392 ) (14,758 ) — (2,869 ) (6,492 ) — — — (39,511 ) Operating (71,543 ) (50,000 ) (20,796 ) (12,379 ) (18,646 ) (47,507 ) (1,314 ) — (222,185 ) General and administration (11,826 ) (19,101 ) (1,525 ) (8,314 ) (4,772 ) (6,400 ) (3,624 ) 2,733 (52,829 ) PRRT — — — — — (1,568 ) — — (1,568 ) Corporate income taxes — (2,867 ) (6,624 ) — — (7,522 ) — (1,097 ) (18,110 ) Interest expense — — — — — — — (56,957 ) (56,957 ) Realized gain on derivative instruments — — — — — — — 65,376 65,376 Realized foreign exchange gain — — — — — — — 4,041 4,041 Realized other income — 3,822 — — — — — 205 4,027 Fund flows from operations 132,631 136,868 70,300 3,398 79,246 73,838 209 14,301 510,791 Reconciliation of fund flows from operations to net earnings (loss): Year Ended ($M) Dec 31, 2017 Dec 31, 2016 Fund flows from operations 602,565 510,791 Accretion (26,971 ) (24,783 ) Depletion and depreciation (491,683 ) (528,002 ) Impairment — (14,762 ) Gain on business combination — 22,001 Unrealized loss on derivative instruments (1,062 ) (137,993 ) Equity based compensation (61,579 ) (69,235 ) Unrealized foreign exchange gain (loss) 71,742 (792 ) Unrealized other expense (637 ) (131 ) Deferred tax (30,117 ) 82,855 Net earnings (loss) 62,258 (160,051 )

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about business combination [abstract]
Disclosure of detailed information about business combinations [text block]	($M) Consideration Cash paid to vendor 48,377 Total consideration 48,377 ($M) Allocation of Consideration Capital assets 142,350 Asset retirement obligations (66,965 ) Deferred taxes (7,767 ) Crude oil inventory 2,760 Net assets acquired 70,378 Gain on business combination (22,001 ) Total net assets acquired, net of gain on business combination 48,377

CAPITAL ASSETS (Tables)

CAPITAL ASSETS (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [abstract]
Disclosure of detailed information about property, plant and equipment [text block]	The following table reconciles the change in Vermilion's capital assets: ($M) 2017 2016 Balance at January 1 3,433,245 3,467,369 Additions 290,593 241,545 Transfers from exploration and evaluation assets 8,187 — Property acquisitions 25,390 189,853 Changes in asset retirement obligations (48,187 ) 149,492 Depletion and depreciation (479,698 ) (491,508 ) Recognition of finance lease asset — 960 Impairment — (14,762 ) Foreign exchange 108,435 (109,704 ) Balance at December 31 3,337,965 3,433,245 Cost 6,539,052 6,256,485 Accumulated depletion and depreciation (3,201,087 ) (2,823,240 ) Carrying amount at December 31 3,337,965 3,433,245

EXPLORATION AND EVALUATION AS30

EXPLORATION AND EVALUATION ASSETS (Tables)	12 Months Ended
	Dec. 31, 2017
Exploration and evaluation assets [member]
Disclosure Of Exploration And Evaluation Assets [Line Items]
Disclosure of detailed information about exploration and evaluation assets [text block]	The following table reconciles the change in Vermilion's exploration and evaluation assets: ($M) 2017 2016 Balance at January 1 274,830 308,192 Additions 29,856 863 Property acquisitions 2,247 2,644 Changes in asset retirement obligations (30 ) 14 Transfers to capital assets (8,187 ) — Depreciation (11,727 ) (35,238 ) Foreign exchange 5,289 (1,645 ) Balance at December 31 292,278 274,830 Cost 354,615 333,835 Accumulated depreciation (62,337 ) (59,005 ) Carrying amount at December 31 292,278 274,830

ASSET RETIREMENT OBLIGATIONS (T

ASSET RETIREMENT OBLIGATIONS (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Asset Retirement Obligations [Abstract]
Disclosure of other provisions [text block]	The following table reconciles the change in Vermilion’s asset retirement obligations: ($M) 2017 2016 Balance at January 1 525,022 305,613 Additional obligations recognized 3,273 68,288 Changes in estimates (48,904 ) 3,454 Obligations settled (9,334 ) (9,617 ) Accretion 26,971 24,783 Changes in discount rates (2,586 ) 144,729 Foreign exchange 22,738 (12,228 ) Balance at December 31 517,180 525,022
Disclosure of detailed information about risk free rates used to discount the obligations [text block]	The risk-free rates used as inputs to discount the obligations were as follows: Dec 31, 2017 Dec 31, 2016 Canada 2.3 % 2.3 % France 1.8 % 1.7 % Netherlands 0.5 % (0.3 )% Germany 1.0 % 0.9 % Ireland 0.4 % 0.5 % Australia 2.9 % 3.2 % USA 2.4 % 2.6 %

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Derivative instruments [Abstract]
Disclosure of detailed information about outstanding risk management positions [Text Block]	Bought Put Volume Weighted Average Bought Put Sold Call Volume Weighted Average Sold Call Sold Put Volume Weighted Average Sold Put Swap Volume Weighted Average Swap Additional Swap Volume Crude Oil Period Exercise date (1) Currency (bbl_d) Price / bbl (bbl_d) Price / bbl (bbl_d) Price / bbl (bbl_d) Price / bbl (bbld) (2) Dated Brent Swap Jan 2018 - Dec 2018 CAD — — — — — — 500 76.25 — 3-Way Collar Jul 2017 - Jun 2018 USD 2,000 55.00 2,000 64.06 2,000 45.00 — — — 3-Way Collar Jul 2017 - Dec 2018 USD 2,000 48.89 2,000 55.00 2,000 42.50 — — — 3-Way Collar Oct 2017 - Dec 2018 USD 2,000 50.50 2,000 55.75 2,000 43.00 — — — 3-Way Collar Dec 2017 - Mar 2018 USD 500 57.50 500 62.50 500 52.50 — — — 3-Way Collar Jan 2018 - Jun 2018 USD 1,000 53.58 1,000 59.50 1,000 46.25 — — — Collar Jan 2018 - Dec 2018 USD 1,000 50.00 1,000 57.50 — — — — — Swap Jan 2018 - Mar 2018 USD — — — — — — 750 67.22 — Swap Jan 2018 - Dec 2018 USD — — — — — — 1,000 55.00 — Swaption Apr 2018 - Mar 2019 Jan 31, 2018 USD — — — — — — 500 60.00 — Swaption Apr 2018 - Mar 2019 Mar 30, 2018 USD — — — — — — 750 64.33 — WTI Swap Jan 2018 - Jan 2018 CAD — — — — — — 1,000 75.50 — 3-Way Collar Jan 2018 - Jun 2018 USD 500 48.50 500 56.00 500 42.50 — — — Collar Jan 2018 - Dec 2018 USD 500 50.00 500 55.00 — — — — — Swap Jan 2018 - Jun 2018 USD — — — — — — 500 54.00 — Swap Jan 2018 - Dec 2018 USD — — — — — — 1,000 54.00 — Swaption Apr 2018 - Mar 2019 Jan 31, 2018 USD — — — — — — 250 54.00 — Bought Put Weighted Average Bought Sold Call Weighted Average Sold Sold Put Weighted Average Sold Swap Weighted Average Swap Additional Swap North American Gas Period Exercise date (1) Currency Volume (mmbtu_d) Put Price / mmbtu Volume (mmbtu_d) Call Price / mmbtu Volume (mmbtu_d) Put Price / mmbtu Volume (mmbtu_d) Price / mmbtu Volume (mmbtu_d) (2) AECO Swap Jan 2018 - Dec 2018 CAD — — — — — — 9,478 2.80 — AECO Basis (AECO less NYMEX HH) Swap Oct 2017 - Dec 2018 USD — — — — — — 10,000 (1.03 ) — Swap Jan 2018 - Dec 2018 USD — — — — — — 20,000 (0.95 ) — Swap Jan 2019 - Jun 2020 USD — — — — — — 2,500 (0.93 ) — NYMEX HH 3-Way Collar Oct 2017 - Dec 2018 USD 10,000 3.11 10,000 3.40 10,000 2.40 — — — 3-Way Collar Jan 2018 - Dec 2018 USD 10,000 3.06 10,000 3.40 10,000 2.40 — — — Swap Apr 2018 - Dec 2018 USD — — — — — — 10,000 3.10 — (1) The sold swaption instrument allows the counterparty, at the specified date, to enter into a derivative instrument contract with Vermilion at the above detailed terms. (2) On the last business day of each month, the counterparty has the option to increase the contracted volumes for the following month. Bought Put Weighted Average Bought Sold Call Weighted Average Sold Sold Put Weighted Average Sold Swap Weighted Average Swap Additional Swap European Gas Period Exercise date (1) Currency Volume (mmbtu_d) Put Price / mmbtu Volume (mmbtu_d) Call Price / mmbtu Volume (mmbtu_d) Put Price /mmbtu Volume (mmbtu_d) Price / mmbtu Volume (mmbtu_d) (2) NBP 3-Way Collar Apr 2018 - Sep 2018 EUR 4,913 4.73 4,913 5.42 4,913 3.52 — — — 3-Way Collar Jan 2019 - Dec 2019 EUR 14,740 4.82 14,740 5.52 14,740 3.74 — — — 3-Way Collar Jan 2019 - Dec 2020 EUR 7,370 4.96 7,370 5.76 7,370 3.74 — — — 3-Way Collar Jan 2020 - Dec 2020 EUR 14,740 4.85 14,740 5.63 14,740 3.88 — — — Swap Jan 2018 - Jan 2018 EUR — — — — — — 4,913 6.80 — Call Oct 2018 - Mar 2019 EUR — — 2,457 6.42 — — — — — Put Apr 2018 - Sep 2018 EUR — — — — 2,457 4.98 — — — Collar Jan 2018 - Dec 2018 GBP 2,500 3.15 2,500 3.82 — — — — — Swap Apr 2017 - Mar 2018 GBP — — — — — — 5,300 4.20 — Swap Jan 2018 - Dec 2018 GBP — — — — — — 2,500 4.04 5,000 NBP Basis (NBP less NYMEX HH) Collar Jan 2018 - Dec 2018 USD 2,500 1.85 2,500 4.00 — — — — — Collar Jan 2019 - Sep 2020 USD 7,500 2.07 7,500 4.00 — — — — — TTF 3-Way Collar Oct 2017 - Dec 2019 EUR 7,370 4.59 7,370 5.42 7,370 2.93 — — — 3-Way Collar Jan 2018 - Dec 2018 EUR 12,284 4.75 12,284 5.48 12,284 3.25 — — — 3-Way Collar Jan 2018 - Dec 2019 EUR 3,685 4.74 3,685 5.52 3,685 3.13 — — — 3-Way Collar Jan 2019 - Dec 2019 EUR 9,827 4.92 9,827 5.48 9,827 3.66 — — — Collar Jul 2016 - Mar 2018 EUR 2,457 5.61 4,913 6.90 — — — — — Collar Jan 2018 - Dec 2018 EUR 4,913 4.40 4,913 5.31 — — — — — Swap Jul 2016 - Jun 2018 EUR — — — — — — 2,559 5.89 — Swap Apr 2017 - Jun 2018 EUR — — — — — — 4,299 4.50 — Swap Oct 2017 - Dec 2018 EUR — — — — — — 17,197 4.80 — Swap Oct 2017 - Dec 2019 EUR — — — — — — 7,370 4.87 — Swap Jan 2018 - Dec 2019 EUR — — — — — — 1,228 5.00 — Swap Jul 2018 - Dec 2019 EUR — — — — — — 4,913 4.98 — Swap Jan 2019 - Dec 2019 EUR — — — — — — 2,457 4.92 — Swaption Jan 2019 - Dec 2020 April 30, 2018 EUR — — — — — — 9,827 5.28 — Cross Currency Interest Rate Receive Notional amount (USD) Rate (LIBOR +) Pay Notional amount(CAD) Rate (CDOR +) Swap Jan 2018 603,793,015 1.70 % 775,800,000 1.11 % (1) (2)
Disclosure of detailed information about change in fair value of derivative instruments [text block]	The following table reconciles the change in the fair value of Vermilion’s derivative instruments: Year Ended ($M) Dec 31, 2017 Dec 31, 2016 Fair value of contracts, beginning of year (69,651 ) 68,342 Reversal of opening contracts settled during the year 43,324 (55,214 ) Realized gain on contracts settled during the year 4,721 65,376 Unrealized loss during the year on contracts outstanding at the end of the year (44,386 ) (82,779 ) Net receipt from counterparties on contract settlements during the year (4,721 ) (65,376 ) Fair value of contracts, end of year (70,713 ) (69,651 ) Comprised of: Current derivative asset 17,988 4,336 Current derivative liability (78,905 ) (47,660 ) Non-current derivative asset 2,552 1,157 Non-current derivative liability (12,348 ) (27,484 ) Fair value of contracts, end of year (70,713 ) (69,651 )
Disclosure of detailed information of about loss gain on derivative instruments [text block]	Year Ended ($M) Dec 31, 2017 Dec 31, 2016 Realized gain on contracts settled during the year (4,721 ) (65,376 ) Reversal of opening contracts settled during the year (43,324 ) 55,214 Unrealized loss during the year on contracts outstanding at the end of the year 44,386 82,779 (Gain) loss on derivative instruments (3,659 ) 72,617

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of leases [Abstract]
Disclosure of finance lease and operating lease by lessee [text block]	Vermilion had the following future commitments associated with its operating leases: As at ($M) Dec 31, 2017 Dec 31, 2016 Less than 1 year 10,716 12,683 1 - 3 years 19,129 21,087 4 - 5 years 10,303 18,228 After 5 years 28 1,657 Total minimum lease payments 40,176 53,655 Vermilion had the following future commitments associated with its finance lease: As at ($M) Dec 31, 2017 Dec 31, 2016 Less than 1 year 6,680 6,495 1 - 3 years 10,207 12,990 4 - 5 years 4,665 6,043 After 5 years 3,351 4,501 Total minimum lease payments 24,903 30,029 Amounts representing interest (3,526 ) (3,894 ) Present value of net minimum lease payments 21,377 26,135 Current portion of finance lease obligation (5,570 ) (6,507 ) Non-current portion of finance lease obligation 15,807 19,628

TAXES (Tables)

TAXES (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Taxes [Abstract]
Disclosure of detailed information of deferred tax asset and liability [text block]	The following table reconciles Vermilion’s deferred tax asset and liability: As at ($M) Dec 31, 2017 Dec 31, 2016 Deferred tax liabilities: Capital assets (259,236 ) (265,772 ) Non-capital losses 34,703 20,561 Asset retirement obligations (27,868 ) (20,577 ) Unrealized foreign exchange (13,355 ) (15,386 ) Derivative contracts 11,386 — Other 1,262 (2,359 ) Deferred tax liabilities (253,108 ) (283,533 ) Deferred tax assets: Non-capital losses 342,202 155,447 Capital assets (294,178 ) (55,718 ) Asset retirement obligations 28,056 28,960 Derivative contracts 10,164 18,806 Unrealized foreign exchange (7,927 ) (72 ) Other 2,007 4,623 Deferred tax assets 80,324 152,046
Disclosure of detailed information about reconciliation of accounting profit multiplied by applicable tax rates [text block]	Year Ended ($M) Dec 31, 2017 Dec 31, 2016 Earnings (loss) before income taxes 124,482 (223,228 ) Canadian corporate tax rate 27.0 % 27.0 % Expected tax expense (recovery) 33,610 (60,272 ) Increase (decrease) in taxes resulting from: Petroleum resource rent tax rate (PRRT) differential (1) 3,531 1,064 Foreign tax rate differentials (1), (2) 7,146 (16,675 ) Equity based compensation expense 10,343 14,987 Amended returns and changes to estimated tax pools and tax positions (17,246 ) 6,451 Statutory rate changes and the estimated reversal rates associated with temporary differences (3) (16,449 ) (53,150 ) De-recognition of deferred tax assets 44,608 46,253 Adjustment for uncertain tax positions 2,191 3,675 Other non-deductible items (5,510 ) (5,510 ) Provision for income taxes 62,224 (63,177 ) (1) In Australia, current taxes include both corporate income tax rates and PRRT. Corporate income tax rates were applied at a rate of 30% and PRRT was applied at a rate of 40%. (2) The applicable tax rates for 2017 were: 34.4% in France, 50.0% in the Netherlands, 26.3% in Germany, 25% in Ireland, and 35% in the United States. (3) On December 22, 2017, the Tax Cuts and Jobs Act was signed into law in the United States reducing the U.S. federal corporate income tax rate from 35% to 21%. On December 21, 2017, the French Parliament approved the Finance Bill for 2018. The Finance Bill for 2018 provides for a progressive decrease of the French standard corporate income tax rate from 34.43% to 25.825% by 2022.

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of Long-Term Debt [Line Items]
Disclosure of detailed information about borrowings [text block]	The following table summarizes Vermilion’s outstanding long-term debt: As at ($M) Dec 31, 2017 Dec 31, 2016 Revolving credit facility 899,595 1,362,192 Senior unsecured notes 370,735 — Long-term debt 1,270,330 1,362,192
Disclosure of detailed information about change long-term debt [text block]	($M) 2017 2016 Balance at January 1 1,362,192 1,387,899 (Repayments) borrowings on the revolving credit facility (450,646 ) 200,378 Issuance (repayment) of senior unsecured notes 391,906 (225,000 ) Amortization of transaction costs and prepaid interest 2,012 2,337 Foreign exchange (35,134 ) (3,422 ) Balance at December 31 1,270,330 1,362,192
Disclosure of detailed information about borrowings financial covenants [text block]	As at Financial covenant Limit Dec 31, 2017 Dec 31, 2016 Consolidated total debt to consolidated EBITDA 4.0 1.87 2.36 Consolidated total senior debt to consolidated EBITDA 3.5 1.30 2.32 Consolidated total senior debt to total capitalization 55% 32 % 46 %
Disclosure of detailed information about redemption price of unsecured notes [text block]	Year Redemption price 2020 104.219 % 2021 102.813 % 2022 101.406 % 2023 and thereafter 100.000 %
Revolving Credit Facilities [Member]
Disclosure of Long-Term Debt [Line Items]
Disclosure of detailed information about borrowings [text block]	At December 31, 2017 and 2016, Vermilion had in place a bank revolving credit facility maturing May 31, 2021 with the following terms: As at ($M) Dec 31, 2017 Dec 31, 2016 Total facility amount 1,400,000 2,000,000 Amount drawn (899,595 ) (1,362,192 ) Letters of credit outstanding (7,400 ) (20,100 ) Unutilized capacity 493,005 617,708

SHAREHOLDERS_ CAPITAL (Tables)

SHAREHOLDERS’ CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of Shareholder's Capital [Abstract]
Disclosure of classes of share capital [text block]	The following table reconciles the change in Vermilion’s shareholders’ capital: 2017 2016 Shares Shares Shareholders’ Capital ('000s) Amount ($M) ('000s) Amount ($M) Balance at January 1 118,263 2,452,722 111,991 2,181,089 Shares issued for the Dividend Reinvestment Plan 2,429 110,493 4,672 192,998 Vesting of equity based awards 1,060 69,743 1,320 67,146 Shares issued for equity based compensation 197 9,270 193 8,247 Share-settled dividends on vested equity based awards 170 8,478 87 3,242 Balance at December 31 122,119 2,650,706 118,263 2,452,722

CAPITAL DISCLOSURES (Tables)

CAPITAL DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Capital Disclosures [Abstract]
Disclosure of detailed information about debt to funds flow ratio [text block]	The following table calculates Vermilion’s ratio of net debt to fund flows from operations: Year Ended ($M except as indicated) Dec 31, 2017 Dec 31, 2016 Long-term debt 1,270,330 1,362,192 Current liabilities 363,306 290,862 Current assets (261,846 ) (225,906 ) Net debt 1,371,790 1,427,148 Fund flows from operations 602,565 510,791 Ratio of net debt to fund flows from operations 2.3 2.8

EQUITY BASED COMPENSATION (Tabl

EQUITY BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2017
Vermilion incentive plan [Member]
Disclosure Of Equity Based Compensation [Line Items]
Disclosure of number and weighted average exercise prices of other equity instruments [text block]	The following table summarizes the number of awards outstanding under the Vermilion Incentive Plan (“VIP”): Number of Awards ('000s) 2017 2016 Opening balance 1,738 1,711 Granted 563 777 Vested (539 ) (628 ) Modified — 11 Forfeited (77 ) (133 ) Closing balance 1,685 1,738

PER SHARE AMOUNTS (Tables)

PER SHARE AMOUNTS (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Per Share Amounts [Abstract]
Disclosure of detailed information about basic and diluted earnings per share [text block]	Year Ended ($M except per share amounts) Dec 31, 2017 Dec 31, 2016 Net earnings (loss) 62,258 (160,051 ) Basic weighted average shares outstanding ('000s) 120,582 115,695 Dilutive impact of VIP ('000s) 1,826 — Diluted weighted average shares outstanding ('000s) 122,408 115,695 Basic earnings per share 0.52 (1.38 ) Diluted earnings per share 0.51 (1.38 )

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about financial instruments [abstract]
Disclosure of detailed information about financial instruments [text block]	The following table summarizes information relating to Vermilion’s financial instruments: As at Dec 31, 2017 As at Dec 31, 2016 Carrying value Fair value Carrying value Fair value FINANCIAL ASSETS Held for trading Cash and cash equivalents 46,561 46,561 62,775 62,775 Derivative assets 20,540 20,540 5,493 5,493 Loans and receivables Accounts receivable 165,760 165,760 131,719 131,719 FINANCIAL LIABILITIES Held for trading Derivative liabilities (91,253 ) (91,253 ) (75,144 ) (75,144 ) Other financial liabilities Accounts payable and accrued liabilities (219,084 ) (219,084 ) (181,557 ) (181,557 ) Dividends payable (26,256 ) (26,256 ) (25,426 ) (25,426 ) Long-term debt (1,270,330 ) (1,274,891 ) (1,362,192 ) (1,362,192 )
Disclosure Of Detailed Information On Sensitivity Of Fair Value Measures Explanatory [Text Block]	($M) Dec 31, 2017 Dec 31, 2016 Currency risk - Euro to Canadian dollar $0.01 increase in strength of the Canadian dollar against the Euro (4,607 ) (859 ) $0.01 decrease in strength of the Canadian dollar against the Euro 4,607 859 Currency risk - US dollar to Canadian dollar $0.01 increase in strength of the Canadian dollar against the US $ 2,239 (9,184 ) $0.01 decrease in strength of the Canadian dollar against the US $ (2,239 ) 9,184 Commodity price risk - Crude oil US $5.00/bbl increase in crude oil price used to determine the fair value of derivatives (21,616 ) (26,513 ) US $5.00/bbl decrease in crude oil price used to determine the fair value of derivatives 19,845 18,882 Commodity price risk - European natural gas € 0.5/GJ increase in European natural gas price used to determine the fair value of derivatives (32,642 ) 36,999 € 0.5/GJ decrease in European natural gas price used to determine the fair value of derivatives 25,321 (33,019 )
Disclosure of maturity analysis for non-derivative financial liabilities [text block]	1 month to 3 months to 1 year to ($M) 1 month 3 months 1 year 5 years December 31, 2017 99,092 138,273 7,974 912,306 December 31, 2016 79,509 120,233 7,241 1,377,819

RELATED PARTY DISCLOSURES (Tabl

RELATED PARTY DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Related Party Disclosures [Abstract]
Disclosure of information about key management personnel [text block]	Year Ended ($M) Dec 31, 2017 Dec 31, 2016 Short-term benefits 5,183 4,748 Share-based payments 20,135 20,169 25,318 24,917 Number of individuals included in the above amounts 20 18

SUPPLEMENTAL INFORMATION (Table

SUPPLEMENTAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Supplemental Information [Abstract]
Disclosure of cash flow statement [text block]	Year Ended ($M) Dec 31, 2017 Dec 31, 2016 Changes in: Accounts receivable (34,041 ) 28,780 Crude oil inventory (2,577 ) 1,311 Prepaid expenses (1,884 ) 1,762 Accounts payable and accrued liabilities 37,527 (67,190 ) Income taxes payable 2,842 30,213 Foreign exchange (795 ) 1,192 Changes in non-cash working capital 1,072 (3,932 ) Changes in non-cash operating working capital 665 8,366 Changes in non-cash investing working capital 407 (12,298 ) Changes in non-cash working capital 1,072 (3,932 )
Disclosure of cash and cash equivalents [text block]	As at ($M) Dec 31, 2017 Dec 31, 2016 Cash on deposit with financial institutions 46,229 62,614 Guaranteed investment certificates 332 161 Cash and cash equivalents 46,561 62,775
Disclosure of employee benefits [text block]	Year Ended ($M) 2017 2016 Operating expense 48,823 45,061 General and administration expense 36,708 35,347 Wages and benefits 85,531 80,408

SEGMENTED INFORMATION (Details)

SEGMENTED INFORMATION (Details) - CAD CAD in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Segmented Information [Line Items]
Total assets	CAD 3,974,965	CAD 4,087,184
Drilling and development	290,593	241,545
Exploration and evaluation	29,856	863
Oil and gas sales to external customers	1,098,838	882,791
Royalties	(74,476)	(54,284)
Revenue from external customers	1,024,362	828,507
Transportation	(43,448)	(39,511)
Operating	(242,267)	(222,185)
General and administration	(54,373)	(52,829)
Current tax income (expense)	(32,107)	(19,678)
Interest expense	(57,313)	(56,957)
Realized gain on derivative instruments	4,721	65,376
Realized other income	674	4,027
Fund flows from operations	602,565	510,791
Operating Segments [Member]
Disclosure Of Segmented Information [Line Items]
Realized foreign exchange gain	2,316	4,041
PRRT [Member]
Disclosure Of Segmented Information [Line Items]
Current tax income (expense)	(19,819)	(1,568)
Corporate income tax [Member]
Disclosure Of Segmented Information [Line Items]
Current tax income (expense)	(12,288)	(18,110)
Canada [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Total assets	1,542,193	1,522,243
Drilling and development	148,667	62,706
Exploration and evaluation	0	0
Oil and gas sales to external customers	330,903	252,867
Royalties	(33,258)	(21,475)
Revenue from external customers	297,645	231,392
Transportation	(17,368)	(15,392)
Operating	(80,444)	(71,543)
General and administration	(9,604)	(11,826)
Interest expense	0	0
Realized gain on derivative instruments	0	0
Realized foreign exchange gain	0	0
Realized other income	0	0
Fund flows from operations	190,229	132,631
Canada [Member] | PRRT [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Current tax income (expense)	0	0
Canada [Member] | Corporate income tax [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Current tax income (expense)	0	0
France [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Total assets	831,783	835,141
Drilling and development	71,087	68,472
Exploration and evaluation	2,294	0
Oil and gas sales to external customers	268,103	246,863
Royalties	(28,565)	(27,091)
Revenue from external customers	239,538	219,772
Transportation	(14,627)	(14,758)
Operating	(51,002)	(50,000)
General and administration	(13,585)	(19,101)
Interest expense	0	0
Realized gain on derivative instruments	0	0
Realized foreign exchange gain	0	0
Realized other income	0	3,822
Fund flows from operations	149,768	136,868
France [Member] | PRRT [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Current tax income (expense)	0	0
France [Member] | Corporate income tax [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Current tax income (expense)	(10,556)	(2,867)
Netherlands [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Total assets	203,929	220,350
Drilling and development	15,107	23,740
Exploration and evaluation	16,468	0
Oil and gas sales to external customers	108,060	100,707
Royalties	(1,722)	(1,462)
Revenue from external customers	106,338	99,245
Transportation	0	0
Operating	(21,212)	(20,796)
General and administration	(2,212)	(1,525)
Interest expense	0	0
Realized gain on derivative instruments	0	0
Realized foreign exchange gain	0	0
Realized other income	0	0
Fund flows from operations	86,245	70,300
Netherlands [Member] | PRRT [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Current tax income (expense)	0	0
Netherlands [Member] | Corporate income tax [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Current tax income (expense)	3,331	(6,624)
Germany [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Total assets	295,026	292,885
Drilling and development	6,165	3,803
Exploration and evaluation	3,366	0
Oil and gas sales to external customers	68,696	29,049
Royalties	(6,655)	(2,089)
Revenue from external customers	62,041	26,960
Transportation	(6,207)	(2,869)
Operating	(20,176)	(12,379)
General and administration	(7,767)	(8,314)
Interest expense	0	0
Realized gain on derivative instruments	0	0
Realized foreign exchange gain	0	0
Realized other income	0	0
Fund flows from operations	27,891	3,398
Germany [Member] | PRRT [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Current tax income (expense)	0	0
Germany [Member] | Corporate income tax [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Current tax income (expense)	0	0
Ireland [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Total assets	667,068	756,893
Drilling and development	551	9,375
Exploration and evaluation	0	0
Oil and gas sales to external customers	153,330	109,156
Royalties	0	0
Revenue from external customers	153,330	109,156
Transportation	(5,205)	(6,492)
Operating	(17,596)	(18,646)
General and administration	(2,320)	(4,772)
Interest expense	0	0
Realized gain on derivative instruments	0	0
Realized foreign exchange gain	0	0
Realized other income	0	0
Fund flows from operations	128,209	79,246
Ireland [Member] | PRRT [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Current tax income (expense)	0	0
Ireland [Member] | Corporate income tax [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Current tax income (expense)	0	0
Australia [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Total assets	236,677	267,183
Drilling and development	29,942	59,910
Exploration and evaluation	0	0
Oil and gas sales to external customers	154,391	136,835
Royalties	0	0
Revenue from external customers	154,391	136,835
Transportation	0	0
Operating	(50,139)	(47,507)
General and administration	(8,194)	(6,400)
Interest expense	0	0
Realized gain on derivative instruments	0	0
Realized foreign exchange gain	0	0
Realized other income	0	0
Fund flows from operations	71,703	73,838
Australia [Member] | PRRT [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Current tax income (expense)	(19,819)	(1,568)
Australia [Member] | Corporate income tax [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Current tax income (expense)	(4,536)	(7,522)
United States [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Total assets	73,867	61,195
Drilling and development	19,074	13,539
Exploration and evaluation	0	0
Oil and gas sales to external customers	15,355	7,314
Royalties	(4,276)	(2,167)
Revenue from external customers	11,079	5,147
Transportation	(41)	0
Operating	(1,698)	(1,314)
General and administration	(4,341)	(3,624)
Interest expense	0	0
Realized gain on derivative instruments	0	0
Realized foreign exchange gain	0	0
Realized other income	0	0
Fund flows from operations	4,999	209
United States [Member] | PRRT [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Current tax income (expense)	0	0
United States [Member] | Corporate income tax [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Current tax income (expense)	0	0
Corporate [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Total assets	124,422	131,294
Drilling and development	0	0
Exploration and evaluation	7,728	863
Oil and gas sales to external customers	0	0
Royalties	0	0
Revenue from external customers	0	0
Transportation	0	0
Operating	0	0
General and administration	(6,350)	2,733
Interest expense	(57,313)	(56,957)
Realized gain on derivative instruments	4,721	65,376
Realized other income	674	205
Fund flows from operations	(56,479)	14,301
Corporate [Member] | Reportable segments [member] | Operating Segments [Member]
Disclosure Of Segmented Information [Line Items]
Realized foreign exchange gain	2,316	4,041
Corporate [Member] | PRRT [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Current tax income (expense)	0	0
Corporate [Member] | Corporate income tax [Member] | Reportable segments [member]
Disclosure Of Segmented Information [Line Items]
Current tax income (expense)	CAD (527)	CAD (1,097)

SEGMENTED INFORMATION (Details

SEGMENTED INFORMATION (Details 1) - CAD CAD in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Segmented Information [Abstract]
Fund flows from operations		CAD 602,565	CAD 510,791
Accretion		(26,971)	(24,783)
Depletion and depreciation		(491,683)	(528,002)
Impairment	CAD (14,800)	0	(14,762)
Gain on business combination		0	22,001
Unrealized loss on derivative instruments		(1,062)	(137,993)
Equity based compensation		(61,579)	(69,235)
Unrealized foreign exchange gain (loss)		71,742	(792)
Unrealized other expense		(637)	(131)
Deferred tax		(30,117)	82,855
Net earnings (loss)		CAD 62,258	CAD (160,051)

BUSINESS COMBINATIONS (Details)

BUSINESS COMBINATIONS (Details) - CAD CAD in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of detailed information about business combination [line items]
Asset retirement obligations	CAD (517,180)	CAD (525,022)	CAD (305,613)
Gain on business combination	CAD 0	22,001
Business combinations [member]
Disclosure of detailed information about business combination [line items]
Cash paid to vendor		48,377
Total consideration		48,377
Capital assets		142,350
Asset retirement obligations		(66,965)
Deferred taxes		(7,767)
Crude oil inventory		2,760
Net assets acquired		70,378
Gain on business combination		(22,001)
Total net assets acquired, net of gain on business combination		CAD 48,377

BUSINESS COMBINATIONS (Details

BUSINESS COMBINATIONS (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)
Disclosure of detailed information about business combination [abstract]
Revenue of combined entity	$ 29.3
Cash flows from used in operations	$ 8.1

CAPITAL ASSETS (Details)

CAPITAL ASSETS (Details) - CAD CAD in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Capital assets [Line Items]
Beginning balance	CAD 3,433,245
Ending balance	3,337,965	CAD 3,433,245
Property, plant and equipment	3,337,965	3,433,245
Capital assets [Member]
Disclosure of Capital assets [Line Items]
Beginning balance	3,433,245	3,467,369
Additions	290,593	241,545
Transfers from exploration and evaluation assets	8,187	0
Property acquisitions	25,390	189,853
Changes in asset retirement obligations	(48,187)	149,492
Depletion and depreciation	(479,698)	(491,508)
Recognition of finance lease asset	0	960
Impairment	0	(14,762)
Foreign exchange	108,435	(109,704)
Ending balance	3,337,965	3,433,245
Property, plant and equipment	3,337,965	3,467,369
Capital assets [Member] | Gross carrying amount [member]
Disclosure of Capital assets [Line Items]
Beginning balance	6,256,485
Ending balance	6,539,052	6,256,485
Property, plant and equipment	6,539,052	6,256,485
Capital assets [Member] | Accumulated depreciation and amortisation [member]
Disclosure of Capital assets [Line Items]
Beginning balance	(2,823,240)
Ending balance	(3,201,087)	(2,823,240)
Property, plant and equipment	CAD (3,201,087)	CAD (2,823,240)

CAPITAL ASSETS (Details Textual

CAPITAL ASSETS (Details Textual) - CAD CAD in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Dec. 19, 2017	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Capital assets [Line Items]
Impairment loss		CAD 14,800	CAD 0	CAD 14,762
Top of range [member]
Disclosure of Capital assets [Line Items]
Decrease percentage in reserve of cash generating units	2.00%
Ireland [Member]
Disclosure of Capital assets [Line Items]
Recoverable amount of asset or cash-generating unit		CAD 737,300

EXPLORATION AND EVALUATION AS49

EXPLORATION AND EVALUATION ASSETS (Details) - CAD CAD in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Exploration And Evaluation Assets [Line Items]
Beginning balance	CAD 3,433,245
Ending balance	3,337,965	CAD 3,433,245
Property, plant and equipment	3,337,965	3,433,245
Exploration and evaluation assets [member]
Disclosure Of Exploration And Evaluation Assets [Line Items]
Beginning balance	274,830	308,192
Additions	29,856	863
Property acquisitions	2,247	2,644
Changes in asset retirement obligations	(30)	14
Transfers to capital assets	(8,187)	0
Depreciation	(11,727)	(35,238)
Foreign exchange	5,289	(1,645)
Ending balance	292,278	274,830
Property, plant and equipment	274,830	274,830
Exploration and evaluation assets [member] | Gross carrying amount [member]
Disclosure Of Exploration And Evaluation Assets [Line Items]
Beginning balance	333,835
Ending balance	354,615	333,835
Property, plant and equipment	354,615	333,835
Exploration and evaluation assets [member] | Accumulated depreciation and amortisation [member]
Disclosure Of Exploration And Evaluation Assets [Line Items]
Beginning balance	(59,005)
Ending balance	(62,337)	(59,005)
Property, plant and equipment	CAD (62,337)	CAD (59,005)

ASSET RETIREMENT OBLIGATIONS (D

ASSET RETIREMENT OBLIGATIONS (Details) - CAD CAD in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Asset Retirement Obligations [Line Items]
Beginning balance	CAD 525,022	CAD 305,613
Additional obligations recognized	3,273	68,288
Changes in estimates	(48,904)	3,454
Obligations settled	(9,334)	(9,617)
Accretion	26,971	24,783
Changes in discount rates	(2,586)	144,729
Foreign exchange	22,738	(12,228)
Ending balance	CAD 517,180	CAD 525,022

ASSET RETIREMENT OBLIGATIONS 51

ASSET RETIREMENT OBLIGATIONS (Details 1) - Provision for decommissioning, restoration and rehabilitation costs [member]	Dec. 31, 2017	Dec. 31, 2016
Canada [Member]
Disclosure Of Asset Retirement Obligations [Line Items]
Discount rate used in current measurement of fair value less costs of disposal	2.30%	2.30%
France [Member]
Disclosure Of Asset Retirement Obligations [Line Items]
Discount rate used in current measurement of fair value less costs of disposal	1.80%	1.70%
Netherlands [Member]
Disclosure Of Asset Retirement Obligations [Line Items]
Discount rate used in current measurement of fair value less costs of disposal	0.50%	(0.30%)
Germany [Member]
Disclosure Of Asset Retirement Obligations [Line Items]
Discount rate used in current measurement of fair value less costs of disposal	1.00%	0.90%
Ireland [Member]
Disclosure Of Asset Retirement Obligations [Line Items]
Discount rate used in current measurement of fair value less costs of disposal	0.40%	0.50%
Australia [Member]
Disclosure Of Asset Retirement Obligations [Line Items]
Discount rate used in current measurement of fair value less costs of disposal	2.90%	3.20%
USA [Member]
Disclosure Of Asset Retirement Obligations [Line Items]
Discount rate used in current measurement of fair value less costs of disposal	2.40%	2.60%

ASSET RETIREMENT OBLIGATIONS 52

ASSET RETIREMENT OBLIGATIONS (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Asset Retirement Obligations [Line Items]
Credit Risk Rate Used In Determining Other Provisions		3.80%	3.80%
Increase decrease in discount rate, asset retirement obligations		0.50%
Increase (Decrease) in Asset Retirement Obligations		$ 40
Scenerio Forecasts [Member]
Disclosure Of Asset Retirement Obligations [Line Items]
Increase (Decrease) in Asset Retirement Obligations	$ 20
Two Thousand Eighteen And Two Thousand Sixty Seven [Member]
Disclosure Of Asset Retirement Obligations [Line Items]
Asset retirement obligations based on a total undiscounted future liability		1,600	$ 1,400
Two Thousand Twenty Seven And Two Thousand Thirty Four [Member]
Disclosure Of Asset Retirement Obligations [Line Items]
Asset retirement obligations based on a total undiscounted future liability		$ 600
Two Thousand Sixty Three And Two Thousand Sixty Seven [Member]
Disclosure Of Asset Retirement Obligations [Line Items]
Asset retirement obligations based on a total undiscounted future liability			$ 400
Bottom of range [member]
Disclosure Of Asset Retirement Obligations [Line Items]
Inflation rates used in determining the cash flow estimates		0.60%	0.50%
Top of range [member]
Disclosure Of Asset Retirement Obligations [Line Items]
Inflation rates used in determining the cash flow estimates		2.20%	2.20%

DERIVATIVE INSTRUMENTS (Details

DERIVATIVE INSTRUMENTS (Details) - 12 months ended Dec. 31, 2017		CADbbl_dmmbtu_dCAD / Barrel-bbl$ / Barrel-bbl$ / Price_bblCAD / Price_bblCAD / PutPrice_mmbtu$ / PutPrice_mmbtuCAD / CallPrice_mmbtu$ / CallPrice_mmbtuCAD / Price_mmbtu$ / Price_mmbtu€ / PutPrice_mmbtu£ / PutPrice_mmbtu€ / CallPrice_mmbtu£ / CallPrice_mmbtu€ / Price_mmbtu£ / Price_mmbtu	USD ($)bbl_dmmbtu_dCAD / Barrel-bbl$ / Barrel-bbl$ / Price_bblCAD / Price_bblCAD / PutPrice_mmbtu$ / PutPrice_mmbtuCAD / CallPrice_mmbtu$ / CallPrice_mmbtuCAD / Price_mmbtu$ / Price_mmbtu€ / PutPrice_mmbtu£ / PutPrice_mmbtu€ / CallPrice_mmbtu£ / CallPrice_mmbtu€ / Price_mmbtu£ / Price_mmbtu
Derivative, bought put volume | bbl_d		2,000	2,000
European Gas NBP [Member] | Purchased call options [member]
Derivative, contract period		Oct 2018 - Mar 2019	Oct 2018 - Mar 2019
Description of presentation currency		EUR	EUR
Derivative, bought put volume		0	0
Derivative,weighted average bought put | € / PutPrice_mmbtu		0	0
Derivative, sold call volume		2,457	2,457
Derivative,weighted average sold call | € / CallPrice_mmbtu		6.42	6.42
Derivative, sold put volume		0	0
Derivative,weighted average sold put | € / PutPrice_mmbtu		0	0
Derivative, swap volume		0	0
Derivative,weighted average swap | € / Price_mmbtu		0	0
Derivative, additional swap volume	[1]	0	0
European Gas NBP [Member] | Written put options [member]
Derivative, contract period		Apr 2018 - Sep 2018	Apr 2018 - Sep 2018
Description of presentation currency		EUR	EUR
Derivative, bought put volume		0	0
Derivative,weighted average bought put | € / PutPrice_mmbtu		0	0
Derivative, sold call volume		0	0
Derivative,weighted average sold call | € / CallPrice_mmbtu		0	0
Derivative, sold put volume		2,457	2,457
Derivative,weighted average sold put | € / PutPrice_mmbtu		4.98	4.98
Derivative, swap volume		0	0
Derivative,weighted average swap | € / Price_mmbtu		0	0
Derivative, additional swap volume	[1]	0	0
Swap Contract One [Member] | Crude oil dated brent [Member]
Derivative, contract period		Jan 2018 - Dec 2018	Jan 2018 - Dec 2018
Description of presentation currency		CAD	CAD
Derivative, bought put volume | bbl_d		0	0
Derivative,weighted average bought put | CAD / Barrel-bbl		0	0
Derivative, sold call volume | bbl_d		0	0
Derivative,weighted average sold call | CAD / Price_bbl		0	0
Derivative, sold put volume | bbl_d		0	0
Derivative,weighted average sold put | CAD / Price_bbl		0	0
Derivative, swap volume | bbl_d		500	500
Derivative,weighted average swap | CAD / Price_bbl		76.25	76.25
Derivative, additional swap volume | bbl_d	[1]	0	0
Swap Contract One [Member] | Crude oil west texas intermediate [Member]
Derivative, contract period		Jan 2018 - Jan 2018	Jan 2018 - Jan 2018
Description of presentation currency		CAD	CAD
Derivative, bought put volume | bbl_d		0	0
Derivative,weighted average bought put | CAD / Price_bbl		0	0
Derivative, sold call volume | bbl_d		0	0
Derivative,weighted average sold call | CAD / Price_bbl		0	0
Derivative, sold put volume | bbl_d		0	0
Derivative,weighted average sold put | CAD / Price_bbl		0	0
Derivative, swap volume | bbl_d		1,000	1,000
Derivative,weighted average swap | CAD / Price_bbl		75.50	75.50
Derivative, additional swap volume | bbl_d	[1]	0	0
Swap Contract One [Member] | North American Gas AECO [Member]
Derivative, contract period		Jan 2018 - Dec 2018	Jan 2018 - Dec 2018
Description of presentation currency		CAD	CAD
Derivative, bought put volume		0	0
Derivative,weighted average bought put | CAD / PutPrice_mmbtu		0	0
Derivative, sold call volume		0	0
Derivative,weighted average sold call | CAD / CallPrice_mmbtu		0	0
Derivative, sold put volume		0	0
Derivative,weighted average sold put | CAD / PutPrice_mmbtu		0	0
Derivative, swap volume		9,478	9,478
Derivative,weighted average swap | CAD / Price_mmbtu		2.80	2.80
Derivative, additional swap volume	[1]	0	0
Swap Contract One [Member] | North American Gas AECO basis [Member]
Derivative, contract period		Oct 2017 - Dec 2018	Oct 2017 - Dec 2018
Description of presentation currency		USD	USD
Derivative, bought put volume		0	0
Derivative,weighted average bought put | $ / PutPrice_mmbtu		0	0
Derivative, sold call volume		0	0
Derivative,weighted average sold call | $ / CallPrice_mmbtu		0	0
Derivative, sold put volume		0	0
Derivative,weighted average sold put | $ / PutPrice_mmbtu		0	0
Derivative, swap volume		10,000	10,000
Derivative,weighted average swap | $ / Price_mmbtu		(1.03)	(1.03)
Derivative, additional swap volume	[1]	0	0
Swap Contract One [Member] | European Gas NBP [Member]
Derivative, contract period		Jan 2018 - Jan 2018	Jan 2018 - Jan 2018
Description of presentation currency		EUR	EUR
Derivative, bought put volume		0	0
Derivative,weighted average bought put | € / PutPrice_mmbtu		0	0
Derivative, sold call volume		0	0
Derivative,weighted average sold call | € / CallPrice_mmbtu		0	0
Derivative, sold put volume		0	0
Derivative,weighted average sold put | € / PutPrice_mmbtu		0	0
Derivative, swap volume		4,913	4,913
Derivative,weighted average swap | € / Price_mmbtu		6.80	6.80
Derivative, additional swap volume	[1]	0	0
Swap Contract One [Member] | European Gas TTF [Member]
Derivative, contract period		Jul 2016 - Jun 2018	Jul 2016 - Jun 2018
Description of presentation currency		EUR	EUR
Derivative, bought put volume		0	0
Derivative,weighted average bought put | € / PutPrice_mmbtu		0	0
Derivative, sold call volume		0	0
Derivative,weighted average sold call | € / CallPrice_mmbtu		0	0
Derivative, sold put volume		0	0
Derivative,weighted average sold put | € / PutPrice_mmbtu		0	0
Derivative, swap volume		2,559	2,559
Derivative,weighted average swap | € / Price_mmbtu		5.89	5.89
Derivative, additional swap volume	[1]	0	0
Swap Contract One [Member] | European Gas cross currency interest rate [Member]
Derivative interest maturity period		Jan 2,018	Jan 2,018
Proceeds from sales or maturity of financial instruments, classified as investing activities | $			$ 603,793,015
London Interbank Offered Rate		1.70%	1.70%
Purchase of financial instruments, classified as investing activities | CAD		CAD 775,800,000
Canadian Dollar Offered Rate		1.11%	1.11%
3 Way Collar One | Crude oil dated brent [Member]
Derivative, contract period		Jul 2017 - Jun 2018	Jul 2017 - Jun 2018
Description of presentation currency		USD	USD
Derivative,weighted average bought put | $ / Barrel-bbl		55	55
Derivative, sold call volume | bbl_d		2,000	2,000
Derivative,weighted average sold call | $ / Price_bbl		64.06	64.06
Derivative, sold put volume | bbl_d		2,000	2,000
Derivative,weighted average sold put | $ / Price_bbl		45	45
Derivative, swap volume | bbl_d		0	0
Derivative,weighted average swap | $ / Price_bbl		0	0
Derivative, additional swap volume | bbl_d	[1]	0	0
3 Way Collar One | Crude oil west texas intermediate [Member]
Derivative, contract period		Jan 2018 - Jun 2018	Jan 2018 - Jun 2018
Description of presentation currency		USD	USD
Derivative, bought put volume | bbl_d		500	500
Derivative,weighted average bought put | $ / Price_bbl		48.50	48.50
Derivative, sold call volume | bbl_d		500	500
Derivative,weighted average sold call | $ / Price_bbl		56	56
Derivative, sold put volume | bbl_d		500	500
Derivative,weighted average sold put | $ / Price_bbl		42.50	42.50
Derivative, swap volume | bbl_d		0	0
Derivative,weighted average swap | $ / Price_bbl		0	0
Derivative, additional swap volume | bbl_d	[1]	0	0
3 Way Collar One | North American Gas NYMEX HH [Member]
Derivative, contract period		Oct 2017 - Dec 2018	Oct 2017 - Dec 2018
Description of presentation currency		USD	USD
Derivative, bought put volume		10,000	10,000
Derivative,weighted average bought put | $ / PutPrice_mmbtu		3.11	3.11
Derivative, sold call volume		10,000	10,000
Derivative,weighted average sold call | $ / CallPrice_mmbtu		3.40	3.40
Derivative, sold put volume		10,000	10,000
Derivative,weighted average sold put | $ / PutPrice_mmbtu		2.40	2.40
Derivative, swap volume		0	0
Derivative,weighted average swap | $ / Price_mmbtu		0	0
Derivative, additional swap volume	[1]	0	0
3 Way Collar One | European Gas NBP [Member]
Derivative, contract period		Apr 2018 - Sep 2018	Apr 2018 - Sep 2018
Description of presentation currency		EUR	EUR
Derivative, bought put volume		4,913	4,913
Derivative,weighted average bought put | € / PutPrice_mmbtu		4.73	4.73
Derivative, sold call volume		4,913	4,913
Derivative,weighted average sold call | € / CallPrice_mmbtu		5.42	5.42
Derivative, sold put volume		4,913	4,913
Derivative,weighted average sold put | € / PutPrice_mmbtu		3.52	3.52
Derivative, swap volume		0	0
Derivative,weighted average swap | € / Price_mmbtu		0	0
Derivative, additional swap volume	[1]	0	0
3 Way Collar One | European Gas TTF [Member]
Derivative, contract period		Oct 2017 - Dec 2019	Oct 2017 - Dec 2019
Description of presentation currency		EUR	EUR
Derivative, bought put volume		7,370	7,370
Derivative,weighted average bought put | € / PutPrice_mmbtu		4.59	4.59
Derivative, sold call volume		7,370	7,370
Derivative,weighted average sold call | € / CallPrice_mmbtu		5.42	5.42
Derivative, sold put volume		7,370	7,370
Derivative,weighted average sold put | € / PutPrice_mmbtu		2.93	2.93
Derivative, swap volume		0	0
Derivative,weighted average swap | € / Price_mmbtu		0	0
Derivative, additional swap volume	[1]	0	0
3 Way Collar Two | Crude oil dated brent [Member]
Derivative, contract period		Jul 2017 - Dec 2018	Jul 2017 - Dec 2018
Description of presentation currency		USD	USD
Derivative, bought put volume | bbl_d		2,000	2,000
Derivative,weighted average bought put | $ / Price_bbl		48.89	48.89
Derivative, sold call volume | bbl_d		2,000	2,000
Derivative,weighted average sold call | $ / Price_bbl		55	55
Derivative, sold put volume | bbl_d		2,000	2,000
Derivative,weighted average sold put | $ / Price_bbl		42.50	42.50
Derivative, swap volume | bbl_d		0	0
Derivative,weighted average swap | $ / Price_bbl		0	0
Derivative, additional swap volume | bbl_d	[1]	0	0
3 Way Collar Two | Crude oil west texas intermediate [Member]
Derivative, contract period		Jan 2018 - Jun 2018	Jan 2018 - Jun 2018
Description of presentation currency		USD	USD
Derivative, bought put volume | bbl_d		0	0
Derivative,weighted average bought put | $ / Price_bbl		0	0
Derivative, sold call volume | bbl_d		0	0
Derivative,weighted average sold call | $ / Price_bbl		0	0
Derivative, sold put volume | bbl_d		0	0
Derivative,weighted average sold put | $ / Price_bbl		0	0
Derivative, swap volume | bbl_d		500	500
Derivative,weighted average swap | $ / Price_bbl		54	54
Derivative, additional swap volume | bbl_d	[1]	0	0
3 Way Collar Two | North American Gas AECO basis [Member]
Derivative, contract period		Jan 2018 - Dec 2018	Jan 2018 - Dec 2018
Description of presentation currency		USD	USD
Derivative, bought put volume		0	0
Derivative,weighted average bought put | $ / PutPrice_mmbtu		0	0
Derivative, sold call volume		0	0
Derivative,weighted average sold call | $ / CallPrice_mmbtu		0	0
Derivative, sold put volume		0	0
Derivative,weighted average sold put | $ / PutPrice_mmbtu		0	0
Derivative, swap volume		20,000	20,000
Derivative,weighted average swap | $ / Price_mmbtu		(0.95)	(0.95)
Derivative, additional swap volume	[1]	0	0
3 Way Collar Two | North American Gas NYMEX HH [Member]
Derivative, contract period		Jan 2018 - Dec 2018	Jan 2018 - Dec 2018
Description of presentation currency		USD	USD
Derivative, bought put volume		10,000	10,000
Derivative,weighted average bought put | $ / PutPrice_mmbtu		3.06	3.06
Derivative, sold call volume		10,000	10,000
Derivative,weighted average sold call | $ / CallPrice_mmbtu		3.40	3.40
Derivative, sold put volume		10,000	10,000
Derivative,weighted average sold put | $ / PutPrice_mmbtu		2.40	2.40
Derivative, swap volume		0	0
Derivative,weighted average swap | $ / Price_mmbtu		0	0
Derivative, additional swap volume	[1]	0	0
3 Way Collar Two | European Gas NBP [Member]
Derivative, contract period		Jan 2019 - Dec 2019	Jan 2019 - Dec 2019
Description of presentation currency		EUR	EUR
Derivative, bought put volume		14,740	14,740
Derivative,weighted average bought put | € / PutPrice_mmbtu		4.82	4.82
Derivative, sold call volume		14,740	14,740
Derivative,weighted average sold call | € / CallPrice_mmbtu		5.52	5.52
Derivative, sold put volume		14,740	14,740
Derivative,weighted average sold put | € / PutPrice_mmbtu		3.74	3.74
Derivative, swap volume		0	0
Derivative,weighted average swap | € / Price_mmbtu		0	0
Derivative, additional swap volume	[1]	0	0
3 Way Collar Two | European Gas TTF [Member]
Derivative, contract period		Jan 2018 - Dec 2018	Jan 2018 - Dec 2018
Description of presentation currency		EUR	EUR
Derivative, bought put volume		12,284	12,284
Derivative,weighted average bought put | € / PutPrice_mmbtu		4.75	4.75
Derivative, sold call volume		12,284	12,284
Derivative,weighted average sold call | € / CallPrice_mmbtu		5.48	5.48
Derivative, sold put volume		12,284	12,284
Derivative,weighted average sold put | € / PutPrice_mmbtu		3.25	3.25
Derivative, swap volume		0	0
Derivative,weighted average swap | € / Price_mmbtu		0	0
Derivative, additional swap volume	[1]	0	0
3 Way Collar Three
Derivative, contract period		Oct 2017 - Dec 2018	Oct 2017 - Dec 2018
Description of presentation currency		USD	USD
Derivative, bought put volume | bbl_d		2,000	2,000
Derivative,weighted average bought put | $ / Price_bbl		50.50	50.50
Derivative, sold call volume | bbl_d		2,000	2,000
Derivative,weighted average sold call | $ / Price_bbl		55.75	55.75
Derivative, sold put volume | bbl_d		2,000	2,000
Derivative,weighted average sold put | $ / Price_bbl		43	43
Derivative, swap volume | bbl_d		0	0
Derivative,weighted average swap | $ / Price_bbl		0	0
Derivative, additional swap volume | bbl_d	[1]	0	0
3 Way Collar Three | Crude oil west texas intermediate [Member]
Derivative, contract period		Jan 2018 - Dec 2018	Jan 2018 - Dec 2018
Description of presentation currency		USD	USD
Derivative, bought put volume | bbl_d		0	0
Derivative,weighted average bought put | $ / Price_bbl		0	0
Derivative, sold call volume | bbl_d		0	0
Derivative,weighted average sold call | $ / Price_bbl		0	0
Derivative, sold put volume | bbl_d		0	0
Derivative,weighted average sold put | $ / Price_bbl		0	0
Derivative, swap volume | bbl_d		1,000	1,000
Derivative,weighted average swap | $ / Price_bbl		54	54
Derivative, additional swap volume | bbl_d	[1]	0	0
3 Way Collar Three | North American Gas AECO basis [Member]
Derivative, contract period		Jan 2019 - Jun 2020	Jan 2019 - Jun 2020
Description of presentation currency		USD	USD
Derivative, bought put volume		0	0
Derivative,weighted average bought put | $ / PutPrice_mmbtu		0	0
Derivative, sold call volume		0	0
Derivative,weighted average sold call | $ / CallPrice_mmbtu		0	0
Derivative, sold put volume		0	0
Derivative,weighted average sold put | $ / PutPrice_mmbtu		0	0
Derivative, swap volume		2,500	2,500
Derivative,weighted average swap | $ / Price_mmbtu		(0.93)	(0.93)
Derivative, additional swap volume	[1]	0	0
3 Way Collar Three | European Gas NBP [Member]
Derivative, contract period		Jan 2019 - Dec 2020	Jan 2019 - Dec 2020
Description of presentation currency		EUR	EUR
Derivative, bought put volume		7,370	7,370
Derivative,weighted average bought put | € / PutPrice_mmbtu		4.96	4.96
Derivative, sold call volume		7,370	7,370
Derivative,weighted average sold call | € / CallPrice_mmbtu		5.76	5.76
Derivative, sold put volume		7,370	7,370
Derivative,weighted average sold put | € / PutPrice_mmbtu		3.74	3.74
Derivative, swap volume		0	0
Derivative,weighted average swap | € / Price_mmbtu		0	0
Derivative, additional swap volume	[1]	0	0
3 Way Collar Three | European Gas TTF [Member]
Derivative, contract period		Jan 2018 - Dec 2019	Jan 2018 - Dec 2019
Description of presentation currency		EUR	EUR
Derivative, bought put volume		3,685	3,685
Derivative,weighted average bought put | € / PutPrice_mmbtu		4.74	4.74
Derivative, sold call volume		3,685	3,685
Derivative,weighted average sold call | € / CallPrice_mmbtu		5.52	5.52
Derivative, sold put volume		3,685	3,685
Derivative,weighted average sold put | € / PutPrice_mmbtu		3.13	3.13
Derivative, swap volume		0	0
Derivative,weighted average swap | € / Price_mmbtu		0	0
Derivative, additional swap volume	[1]	0	0
3 Way Collar Four | Crude oil dated brent [Member]
Derivative, contract period		Dec 2017 - Mar 2018	Dec 2017 - Mar 2018
Description of presentation currency		USD	USD
Derivative, bought put volume | bbl_d		500	500
Derivative,weighted average bought put | $ / Price_bbl		57.50	57.50
Derivative, sold call volume | bbl_d		500	500
Derivative,weighted average sold call | $ / Price_bbl		62.50	62.50
Derivative, sold put volume | bbl_d		500	500
Derivative,weighted average sold put | $ / Price_bbl		52.50	52.50
Derivative, swap volume | bbl_d		0	0
Derivative,weighted average swap | $ / Price_bbl		0	0
Derivative, additional swap volume | bbl_d	[1]	0	0
3 Way Collar Four | European Gas NBP [Member]
Derivative, contract period		Jan 2020 - Dec 2020	Jan 2020 - Dec 2020
Description of presentation currency		EUR	EUR
Derivative, bought put volume		14,740	14,740
Derivative,weighted average bought put | € / PutPrice_mmbtu		4.85	4.85
Derivative, sold call volume		14,740	14,740
Derivative,weighted average sold call | € / CallPrice_mmbtu		5.63	5.63
Derivative, sold put volume		14,740	14,740
Derivative,weighted average sold put | € / PutPrice_mmbtu		3.88	3.88
Derivative, swap volume		0	0
Derivative,weighted average swap | € / Price_mmbtu		0	0
Derivative, additional swap volume	[1]	0	0
3 Way Collar Four | European Gas TTF [Member]
Derivative, contract period		Jan 2019 - Dec 2019	Jan 2019 - Dec 2019
Description of presentation currency		EUR	EUR
Derivative, bought put volume		9,827	9,827
Derivative,weighted average bought put | € / PutPrice_mmbtu		4.92	4.92
Derivative, sold call volume		9,827	9,827
Derivative,weighted average sold call | € / CallPrice_mmbtu		5.48	5.48
Derivative, sold put volume		9,827	9,827
Derivative,weighted average sold put | € / PutPrice_mmbtu		3.66	3.66
Derivative, swap volume		0	0
Derivative,weighted average swap | € / Price_mmbtu		0	0
Derivative, additional swap volume	[1]	0	0
3 Way Collar Five | Crude oil dated brent [Member]
Derivative, contract period		Jan 2018 - Jun 2018	Jan 2018 - Jun 2018
Description of presentation currency		USD	USD
Derivative, bought put volume | bbl_d		1,000	1,000
Derivative,weighted average bought put | $ / Price_bbl		53.58	53.58
Derivative, sold call volume | bbl_d		1,000	1,000
Derivative,weighted average sold call | $ / Price_bbl		59.50	59.50
Derivative, sold put volume | bbl_d		1,000	1,000
Derivative,weighted average sold put | $ / Price_bbl		46.25	46.25
Derivative, swap volume | bbl_d		0	0
Derivative,weighted average swap | $ / Price_bbl		0	0
Derivative, additional swap volume | bbl_d	[1]	0	0
Collar One [Member] | Crude oil dated brent [Member]
Derivative, contract period		Jan 2018 - Dec 2018	Jan 2018 - Dec 2018
Description of presentation currency		USD	USD
Derivative, bought put volume | bbl_d		1,000	1,000
Derivative,weighted average bought put | $ / Price_bbl		50	50
Derivative, sold call volume | bbl_d		1,000	1,000
Derivative,weighted average sold call | $ / Price_bbl		57.50	57.50
Derivative, sold put volume | bbl_d		0	0
Derivative,weighted average sold put | $ / Price_bbl		0	0
Derivative, swap volume | bbl_d		0	0
Derivative,weighted average swap | $ / Price_bbl		0	0
Derivative, additional swap volume | bbl_d	[1]	0	0
Collar One [Member] | Crude oil west texas intermediate [Member]
Derivative, contract period		Jan 2018 - Dec 2018	Jan 2018 - Dec 2018
Description of presentation currency		USD	USD
Derivative, bought put volume | bbl_d		500	500
Derivative,weighted average bought put | $ / Price_bbl		50	50
Derivative, sold call volume | bbl_d		500	500
Derivative,weighted average sold call | $ / Price_bbl		55	55
Derivative, sold put volume | bbl_d		0	0
Derivative,weighted average sold put | $ / Price_bbl		0	0
Derivative, swap volume | bbl_d		0	0
Derivative,weighted average swap | $ / Price_bbl		0	0
Derivative, additional swap volume | bbl_d	[1]	0	0
Collar One [Member] | European Gas NBP [Member]
Derivative, contract period		Jan 2018 - Dec 2018	Jan 2018 - Dec 2018
Description of presentation currency		GBP	GBP
Derivative, bought put volume		2,500	2,500
Derivative,weighted average bought put | £ / PutPrice_mmbtu		3.15	3.15
Derivative, sold call volume		2,500	2,500
Derivative,weighted average sold call | £ / CallPrice_mmbtu		3.82	3.82
Derivative, sold put volume		0	0
Derivative,weighted average sold put | £ / PutPrice_mmbtu		0	0
Derivative, swap volume		0	0
Derivative,weighted average swap | £ / Price_mmbtu		0	0
Derivative, additional swap volume	[1]	0	0
Collar One [Member] | European Gas NBP basis [Member]
Derivative, contract period		Jan 2018 - Dec 2018	Jan 2018 - Dec 2018
Description of presentation currency		USD	USD
Derivative, bought put volume		2,500	2,500
Derivative,weighted average bought put | $ / PutPrice_mmbtu		1.85	1.85
Derivative, sold call volume		2,500	2,500
Derivative,weighted average sold call | $ / CallPrice_mmbtu		4	4
Derivative, sold put volume		0	0
Derivative,weighted average sold put | $ / PutPrice_mmbtu		0	0
Derivative, swap volume		0	0
Derivative,weighted average swap | $ / Price_mmbtu		0	0
Derivative, additional swap volume	[1]	0	0
Collar One [Member] | European Gas TTF [Member]
Derivative, contract period		Jul 2016 - Mar 2018	Jul 2016 - Mar 2018
Description of presentation currency		EUR	EUR
Derivative, bought put volume		2,457	2,457
Derivative,weighted average bought put | € / PutPrice_mmbtu		5.61	5.61
Derivative, sold call volume		4,913	4,913
Derivative,weighted average sold call | € / CallPrice_mmbtu		6.90	6.90
Derivative, sold put volume		0	0
Derivative,weighted average sold put | € / PutPrice_mmbtu		0	0
Derivative, swap volume		0	0
Derivative,weighted average swap | € / Price_mmbtu		0	0
Derivative, additional swap volume	[1]	0	0
Swap Contract Two [Member] | Crude oil dated brent [Member]
Derivative, contract period		Jan 2018 - Mar 2018	Jan 2018 - Mar 2018
Description of presentation currency		USD	USD
Derivative, bought put volume | bbl_d		0	0
Derivative,weighted average bought put | $ / Price_bbl		0	0
Derivative, sold call volume | bbl_d		0	0
Derivative,weighted average sold call | $ / Price_bbl		0	0
Derivative, sold put volume | bbl_d		0	0
Derivative,weighted average sold put | $ / Price_bbl		0	0
Derivative, swap volume | bbl_d		750	750
Derivative,weighted average swap | $ / Price_bbl		67.22	67.22
Derivative, additional swap volume | bbl_d	[1]	0	0
Swap Contract Two [Member] | North American Gas NYMEX HH [Member]
Derivative, contract period		Apr 2018 - Dec 2018	Apr 2018 - Dec 2018
Description of presentation currency		USD	USD
Derivative, bought put volume		0	0
Derivative,weighted average bought put | $ / PutPrice_mmbtu		0	0
Derivative, sold call volume		0	0
Derivative,weighted average sold call | $ / CallPrice_mmbtu		0	0
Derivative, sold put volume		0	0
Derivative,weighted average sold put | $ / PutPrice_mmbtu		0	0
Derivative, swap volume		10,000	10,000
Derivative,weighted average swap | $ / Price_mmbtu		3.10	3.10
Derivative, additional swap volume	[1]	0	0
Swap Contract Two [Member] | European Gas NBP [Member]
Derivative, contract period		Apr 2017 - Mar 2018	Apr 2017 - Mar 2018
Description of presentation currency		GBP	GBP
Derivative, bought put volume		0	0
Derivative,weighted average bought put | £ / PutPrice_mmbtu		0	0
Derivative, sold call volume		0	0
Derivative,weighted average sold call | £ / CallPrice_mmbtu		0	0
Derivative, sold put volume		0	0
Derivative,weighted average sold put | £ / PutPrice_mmbtu		0	0
Derivative, swap volume		5,300	5,300
Derivative,weighted average swap | £ / Price_mmbtu		4.20	4.20
Derivative, additional swap volume	[1]	0	0
Swap Contract Two [Member] | European Gas TTF [Member]
Derivative, contract period		Apr 2017 - Jun 2018	Apr 2017 - Jun 2018
Description of presentation currency		EUR	EUR
Derivative, bought put volume		0	0
Derivative,weighted average bought put | € / PutPrice_mmbtu		0	0
Derivative, sold call volume		0	0
Derivative,weighted average sold call | € / CallPrice_mmbtu		0	0
Derivative, sold put volume		0	0
Derivative,weighted average sold put | € / PutPrice_mmbtu		0	0
Derivative, swap volume		4,299	4,299
Derivative,weighted average swap | € / Price_mmbtu		4.50	4.50
Derivative, additional swap volume	[1]	0	0
Swap Contract Three [Member] | Crude oil dated brent [Member]
Derivative, contract period		Jan 2018 - Dec 2018	Jan 2018 - Dec 2018
Description of presentation currency		USD	USD
Derivative, bought put volume | bbl_d		0	0
Derivative,weighted average bought put | $ / Price_bbl		0	0
Derivative, sold call volume | bbl_d		0	0
Derivative,weighted average sold call | $ / Price_bbl		0	0
Derivative, sold put volume | bbl_d		0	0
Derivative,weighted average sold put | $ / Price_bbl		0	0
Derivative, swap volume | bbl_d		1,000	1,000
Derivative,weighted average swap | $ / Price_bbl		55	55
Derivative, additional swap volume | bbl_d	[1]	0	0
Swap Contract Three [Member] | European Gas NBP [Member]
Derivative, contract period		Jan 2018 - Dec 2018	Jan 2018 - Dec 2018
Description of presentation currency		GBP	GBP
Derivative, bought put volume		0	0
Derivative,weighted average bought put | £ / PutPrice_mmbtu		0	0
Derivative, sold call volume		0	0
Derivative,weighted average sold call | £ / CallPrice_mmbtu		0	0
Derivative, sold put volume		0	0
Derivative,weighted average sold put | £ / PutPrice_mmbtu		0	0
Derivative, swap volume		2,500	2,500
Derivative,weighted average swap | £ / Price_mmbtu		4.04	4.04
Derivative, additional swap volume	[1]	5,000	5,000
Swap Contract Three [Member] | European Gas TTF [Member]
Derivative, contract period		Oct 2017 - Dec 2018	Oct 2017 - Dec 2018
Description of presentation currency		EUR	EUR
Derivative, bought put volume		0	0
Derivative,weighted average bought put | € / PutPrice_mmbtu		0	0
Derivative, sold call volume		0	0
Derivative,weighted average sold call | € / CallPrice_mmbtu		0	0
Derivative, sold put volume		0	0
Derivative,weighted average sold put | € / PutPrice_mmbtu		0	0
Derivative, swap volume		17,197	17,197
Derivative,weighted average swap | € / Price_mmbtu		4.80	4.80
Derivative, additional swap volume	[1]	0	0
Swaption Contract One [Member] | Crude oil dated brent [Member]
Derivative, contract period		Apr 2018 - Mar 2019	Apr 2018 - Mar 2019
Derivative, exercise date	[2]	Jan. 31, 2018	Jan. 31, 2018
Description of presentation currency		USD	USD
Derivative, bought put volume | bbl_d		0	0
Derivative,weighted average bought put | $ / Price_bbl		0	0
Derivative, sold call volume | bbl_d		0	0
Derivative,weighted average sold call | $ / Price_bbl		0	0
Derivative, sold put volume | bbl_d		0	0
Derivative,weighted average sold put | $ / Price_bbl		0	0
Derivative, swap volume | bbl_d		500	500
Derivative,weighted average swap | $ / Price_bbl		60	60
Derivative, additional swap volume | bbl_d	[1]	0	0
Swaption Contract One [Member] | Crude oil west texas intermediate [Member]
Derivative, contract period		Apr 2018 - Mar 2019	Apr 2018 - Mar 2019
Derivative, exercise date	[2]	Jan. 31, 2018	Jan. 31, 2018
Description of presentation currency		USD	USD
Derivative, bought put volume | bbl_d		0	0
Derivative,weighted average bought put | $ / Price_bbl		0	0
Derivative, sold call volume | bbl_d		0	0
Derivative,weighted average sold call | $ / Price_bbl		0	0
Derivative, sold put volume | bbl_d		0	0
Derivative,weighted average sold put | $ / Price_bbl		0	0
Derivative, swap volume | bbl_d		250	250
Derivative,weighted average swap | $ / Price_bbl		54	54
Derivative, additional swap volume | bbl_d	[1]	0	0
Swaption Contract One [Member] | European Gas TTF [Member]
Derivative, contract period		Jan 2019 - Dec 2020	Jan 2019 - Dec 2020
Derivative, exercise date	[3]	Apr. 30, 2018	Apr. 30, 2018
Description of presentation currency		EUR	EUR
Derivative, bought put volume		0	0
Derivative,weighted average bought put | € / PutPrice_mmbtu		0	0
Derivative, sold call volume		0	0
Derivative,weighted average sold call | € / CallPrice_mmbtu		0	0
Derivative, sold put volume		0	0
Derivative,weighted average sold put | € / PutPrice_mmbtu		0	0
Derivative, swap volume		9,827	9,827
Derivative,weighted average swap | € / Price_mmbtu		5.28	5.28
Derivative, additional swap volume	[1]	0	0
Swaption Contract Two [Member] | Crude oil dated brent [Member]
Derivative, contract period		Apr 2018 - Mar 2019	Apr 2018 - Mar 2019
Derivative, exercise date	[2]	Mar. 30, 2018	Mar. 30, 2018
Description of presentation currency		USD	USD
Derivative, bought put volume | bbl_d		0	0
Derivative,weighted average bought put | $ / Price_bbl		0	0
Derivative, sold call volume | bbl_d		0	0
Derivative,weighted average sold call | $ / Price_bbl		0	0
Derivative, sold put volume | bbl_d		0	0
Derivative,weighted average sold put | $ / Price_bbl		0	0
Derivative, swap volume | bbl_d		750	750
Derivative,weighted average swap | $ / Price_bbl		64.33	64.33
Derivative, additional swap volume | bbl_d	[1]	0	0
Collar Two [Member] | European Gas NBP basis [Member]
Derivative, contract period		Jan 2019 - Sep 2020	Jan 2019 - Sep 2020
Description of presentation currency		USD	USD
Derivative, bought put volume		7,500	7,500
Derivative,weighted average bought put | $ / PutPrice_mmbtu		2.07	2.07
Derivative, sold call volume		7,500	7,500
Derivative,weighted average sold call | $ / CallPrice_mmbtu		4	4
Derivative, sold put volume		0	0
Derivative,weighted average sold put | $ / PutPrice_mmbtu		0	0
Derivative, swap volume		0	0
Derivative,weighted average swap | $ / Price_mmbtu		0	0
Derivative, additional swap volume	[1]	0	0
Collar Two [Member] | European Gas TTF [Member]
Derivative, contract period		Jan 2018 - Dec 2018	Jan 2018 - Dec 2018
Description of presentation currency		EUR	EUR
Derivative, bought put volume		4,913	4,913
Derivative,weighted average bought put | € / PutPrice_mmbtu		4.40	4.40
Derivative, sold call volume		4,913	4,913
Derivative,weighted average sold call | € / CallPrice_mmbtu		5.31	5.31
Derivative, sold put volume		0	0
Derivative,weighted average sold put | € / PutPrice_mmbtu		0	0
Derivative, swap volume		0	0
Derivative,weighted average swap | € / Price_mmbtu		0	0
Derivative, additional swap volume	[1]	0	0
Swap Contract Four [Member] | European Gas TTF [Member]
Derivative, contract period		Oct 2017 - Dec 2019	Oct 2017 - Dec 2019
Description of presentation currency		EUR	EUR
Derivative, bought put volume		0	0
Derivative,weighted average bought put | € / PutPrice_mmbtu		0	0
Derivative, sold call volume		0	0
Derivative,weighted average sold call | € / CallPrice_mmbtu		0	0
Derivative, sold put volume		0	0
Derivative,weighted average sold put | € / PutPrice_mmbtu		0	0
Derivative, swap volume		7,370	7,370
Derivative,weighted average swap | € / Price_mmbtu		4.87	4.87
Derivative, additional swap volume	[1]	0	0
Swap Contract Five [Member] | European Gas TTF [Member]
Derivative, contract period		Jan 2018 - Dec 2019	Jan 2018 - Dec 2019
Description of presentation currency		EUR	EUR
Derivative, bought put volume		0	0
Derivative,weighted average bought put | € / PutPrice_mmbtu		0	0
Derivative, sold call volume		0	0
Derivative,weighted average sold call | € / CallPrice_mmbtu		0	0
Derivative, sold put volume		0	0
Derivative,weighted average sold put | € / PutPrice_mmbtu		0	0
Derivative, swap volume		1,228	1,228
Derivative,weighted average swap | € / Price_mmbtu		5	5
Derivative, additional swap volume	[1]	0	0
Swap Contract Six [Member] | European Gas TTF [Member]
Derivative, contract period		Jul 2018 - Dec 2019	Jul 2018 - Dec 2019
Description of presentation currency		EUR	EUR
Derivative, bought put volume		0	0
Derivative,weighted average bought put | € / PutPrice_mmbtu		0	0
Derivative, sold call volume		0	0
Derivative,weighted average sold call | € / CallPrice_mmbtu		0	0
Derivative, sold put volume		0	0
Derivative,weighted average sold put | € / PutPrice_mmbtu		0	0
Derivative, swap volume		4,913	4,913
Derivative,weighted average swap | € / Price_mmbtu		4.98	4.98
Derivative, additional swap volume	[1]	0	0
Swap Contract Seven [Member] | European Gas TTF [Member]
Derivative, contract period		Jan 2019 - Dec 2019	Jan 2019 - Dec 2019
Description of presentation currency		EUR	EUR
Derivative, bought put volume		0	0
Derivative,weighted average bought put | € / PutPrice_mmbtu		0	0
Derivative, sold call volume		0	0
Derivative,weighted average sold call | € / CallPrice_mmbtu		0	0
Derivative, sold put volume		0	0
Derivative,weighted average sold put | € / PutPrice_mmbtu		0	0
Derivative, swap volume		2,457	2,457
Derivative,weighted average swap | € / Price_mmbtu		4.92	4.92
Derivative, additional swap volume	[1]	0	0
[1]	On the last business day of each month, the counterparty has the option to increase the contracted volumes for the following month.
[2]	The sold swaption instrument allows the counterparty, at the specified date, to enter into a derivative instrument contract with Vermilion at the above detailed terms.
[3]	The sold swaption instrument allows the counterparty, at the specified date, to enter into a derivative instrument contract with Vermilion at the above detailed terms.

DERIVATIVE INSTRUMENTS (Detai54

DERIVATIVE INSTRUMENTS (Details 1) - CAD CAD in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Derivative instruments [Abstract]
Fair value of contracts, beginning of year	CAD (69,651)	CAD 68,342
Reversal of opening contracts settled during the year	43,324	(55,214)
Realized gain on contracts settled during the year	4,721	65,376
Unrealized loss during the year on contracts outstanding at the end of the year	(44,386)	(82,779)
Net receipt from counterparties on contract settlements during the year	(4,721)	(65,376)
Fair value of contracts, end of year	(70,713)	(69,651)
Current derivative asset	17,988	4,336
Current derivative liability	78,905	47,660
Non-current derivative asset	2,552	1,157
Non-current derivative liability	CAD 12,348	CAD 27,484

DERIVATIVE INSTRUMENTS (Detai55

DERIVATIVE INSTRUMENTS (Details 2) - CAD CAD in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Derivative instruments [Abstract]
Realized gain on contracts settled during the year	CAD (4,721)	CAD (65,376)
Reversal of opening contracts settled during the year	(43,324)	55,214
Unrealized loss during the year on contracts outstanding at the end of the year	44,386	82,779
(Gain) loss on derivative instruments	CAD (3,659)	CAD 72,617

LEASES (Details)

LEASES (Details) - CAD CAD in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of leases [Line Items]
Minimum operating lease payments recognised as expense	CAD 40,176	CAD 53,655
Not later than one year [member]
Disclosure Of leases [Line Items]
Minimum operating lease payments recognised as expense	10,716	12,683
Later than one year and not later than three years [member]
Disclosure Of leases [Line Items]
Minimum operating lease payments recognised as expense	19,129	21,087
Later than four years and not later than five years [member]
Disclosure Of leases [Line Items]
Minimum operating lease payments recognised as expense	10,303	18,228
Later than five years [member]
Disclosure Of leases [Line Items]
Minimum operating lease payments recognised as expense	CAD 28	CAD 1,657

LEASES (Details 1)

LEASES (Details 1) - CAD CAD in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of leases [Line Items]
Total minimum lease payments	CAD 24,903	CAD 30,029
Amounts representing interest	(3,526)	(3,894)
Present value of net minimum lease payments	21,377	26,135
Current portion of finance lease obligation	(5,570)	(6,507)
Non-current portion of finance lease obligation	15,807	19,628
Not later than one year [member]
Disclosure Of leases [Line Items]
Total minimum lease payments	6,680	6,495
Later than one year and not later than three years [member]
Disclosure Of leases [Line Items]
Total minimum lease payments	10,207	12,990
Later than four years and not later than five years [member]
Disclosure Of leases [Line Items]
Total minimum lease payments	4,665	6,043
Later than five years [member]
Disclosure Of leases [Line Items]
Total minimum lease payments	CAD 3,351	CAD 4,501

LEASES (Details Textual)

LEASES (Details Textual) - CAD CAD in Millions	Dec. 31, 2017	Dec. 31, 2016
Disclosure of leases [Abstract]
Recognised finance lease as assets	CAD 22.9	CAD 26.1

TAXES (Details)

TAXES (Details) - CAD CAD in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred tax liabilities:
Deferred tax liabilities	CAD (253,108)	CAD (283,533)
Deferred tax assets:
Deferred tax assets	80,324	152,046
Derivative contracts [Member]
Deferred tax liabilities:
Deferred tax liabilities	11,386	0
Deferred tax assets:
Deferred tax assets	10,164	18,806
Capital assets [Member]
Deferred tax liabilities:
Deferred tax liabilities	(259,236)	(265,772)
Deferred tax assets:
Deferred tax assets	(294,178)	(55,718)
Non-capital losses [Member]
Deferred tax liabilities:
Deferred tax liabilities	34,703	20,561
Deferred tax assets:
Deferred tax assets	342,202	155,447
Asset retirement obligations [Member]
Deferred tax liabilities:
Deferred tax liabilities	(27,868)	(20,577)
Deferred tax assets:
Deferred tax assets	28,056	28,960
Unrealized foreign exchange [Member]
Deferred tax liabilities:
Deferred tax liabilities	(13,355)	(15,386)
Deferred tax assets:
Deferred tax assets	(7,927)	(72)
Other deferred tax liabilities [Member]
Deferred tax liabilities:
Deferred tax liabilities	1,262	(2,359)
Other deferred tax assets [Member]
Deferred tax assets:
Deferred tax assets	CAD 2,007	CAD 4,623

TAXES (Details 1)

TAXES (Details 1) - CAD CAD in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Taxes [Abstract]
Earnings (loss) before income taxes		CAD (124,482)	CAD 223,228
Canadian corporate tax rate		27.00%	27.00%
Expected tax expense (recovery)		CAD 33,610	CAD (60,272)
Petroleum resource rent tax rate (PRRT) differential	[1]	3,531	1,064
Foreign tax rate differentials	[1],[2]	7,146	(16,675)
Equity based compensation expense		10,343	14,987
Amended returns and changes to estimated tax pools and tax positions		(17,246)	6,451
Statutory rate changes and the estimated reversal rates associated with temporary differences	[3]	(16,449)	(53,150)
De-recognition of deferred tax assets		44,608	46,253
Adjustment for uncertain tax positions		2,191	3,675
Other non-deductible items		(5,510)	(5,510)
Provision for income taxes		CAD 62,224	CAD (63,177)
[1]	In Australia, current taxes include both corporate income tax rates and PRRT. Corporate income tax rates were applied at a rate of 30% and PRRT was applied at a rate of 40%.
[2]	The applicable tax rates for 2017 were: 34.4% in France, 50.0% in the Netherlands, 26.3% in Germany, 25% in Ireland, and 35% in the United States.
[3]	On December 22, 2017, the Tax Cuts and Jobs Act was signed into law in the United States reducing the U.S. federal corporate income tax rate from 35% to 21%. On December 21, 2017, the French Parliament approved the Finance Bill for 2018. The Finance Bill for 2018 provides for a progressive decrease of the French standard corporate income tax rate from 34.43% to 25.825% by 2022.

TAXES (Details Textual)

TAXES (Details Textual) CAD in Millions, $ in Billions	Dec. 31, 2017CAD	Dec. 31, 2022	Dec. 31, 2017CAD	Dec. 31, 2017CAD	Dec. 22, 2017	Dec. 31, 2016CAD	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Disclosure of income tax [Line Items]
Applicable tax rate				27.00%		27.00%
Unused tax losses for which no deferred tax asset recognised	CAD 2,000		CAD 2,000	CAD 2,000		CAD 1,000
Deductible temporary differences, unused tax losses and unused tax credits expired | $							$ 0.5	$ 0.5
Deductible temporary differences for which no deferred tax asset is recognised	145.6		145.6	145.6		96.1
Temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements for which deferred tax liabilities have not been recognised	CAD 1,200		CAD 1,200	CAD 1,200		CAD 1,500
Bottom of range [member]
Disclosure of income tax [Line Items]
Description of expiry date of deductible temporary differences, unused tax losses and unused tax credits				2,030
Top of range [member]
Disclosure of income tax [Line Items]
Description of expiry date of deductible temporary differences, unused tax losses and unused tax credits				2,037
France [Member]
Disclosure of income tax [Line Items]
Applicable tax rate				34.40%
Netherlands [Member]
Disclosure of income tax [Line Items]
Applicable tax rate				50.00%
Germany [Member]
Disclosure of income tax [Line Items]
Applicable tax rate				26.30%
Ireland [Member]
Disclosure of income tax [Line Items]
Applicable tax rate				25.00%
United States [Member]
Disclosure of income tax [Line Items]
Applicable tax rate				35.00%
Corporate Income tax [Member] | Australia [Member]
Disclosure of income tax [Line Items]
Applicable tax rate				30.00%
Petroleum Resource Rent Tax [Member] | Australia [Member]
Disclosure of income tax [Line Items]
Applicable tax rate				40.00%
United states Corporate Income tax [Member]
Disclosure of income tax [Line Items]
Applicable tax rate	21.00%				35.00%
FrenchCorporate Income tax [Member]
Disclosure of income tax [Line Items]
Applicable tax rate		25.825%	34.43%

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) - CAD CAD in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Long-Term Debt [Abstract]
Revolving credit facility	CAD 899,595	CAD 1,362,192
Senior unsecured notes	370,735	0
Long-term debt	CAD 1,270,330	CAD 1,362,192

LONG-TERM DEBT (Details 1)

LONG-TERM DEBT (Details 1) - CAD CAD in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Long-Term Debt [Line Items]
Balance	CAD 1,362,192	CAD 1,387,899
(Repayments) borrowings on the revolving credit facility	(450,646)	200,378
Issuance (repayment) of senior unsecured notes	391,906	(225,000)
Amortization of transaction costs and prepaid interest	2,012	2,337
Foreign exchange	(35,134)	(3,422)
Balance	CAD 1,270,330	CAD 1,362,192

LONG-TERM DEBT (Details 2)

LONG-TERM DEBT (Details 2) - Revolving Credit Facilities [Member] - CAD CAD in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Long-Term Debt [Line Items]
Total facility amount	CAD 1,400,000	CAD 2,000,000
Amount drawn	(899,595)	(1,362,192)
Letters of credit outstanding	(7,400)	(20,100)
Unutilized capacity	CAD 493,005	CAD 617,708

LONG-TERM DEBT (Details 3)

LONG-TERM DEBT (Details 3) - Limit	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Long-Term Debt [Line Items]
Consolidated total debt to consolidated EBITDA	1.87	2.36
Consolidated total senior debt to consolidated EBITDA	1.30	2.32
Consolidated total senior debt to total capitalization	32.00%	46.00%
Top of range [member]
Disclosure of Long-Term Debt [Line Items]
Consolidated total debt to consolidated EBITDA	4
Consolidated total senior debt to consolidated EBITDA	3.5
Consolidated total senior debt to total capitalization	55.00%

LONG-TERM DEBT (Details 4)

LONG-TERM DEBT (Details 4)	12 Months Ended
	Dec. 31, 2017
2020 [Member]
Disclosure of Long-Term Debt [Line Items]
Redemption price Percentage of senior unsecured notes	104.219%
2021 [Member]
Disclosure of Long-Term Debt [Line Items]
Redemption price Percentage of senior unsecured notes	102.813%
2022 [Member]
Disclosure of Long-Term Debt [Line Items]
Redemption price Percentage of senior unsecured notes	101.406%
2023 and thereafter [Member]
Disclosure of Long-Term Debt [Line Items]
Redemption price Percentage of senior unsecured notes	100.00%

LONG-TERM DEBT (Details Textual

LONG-TERM DEBT (Details Textual) CAD in Thousands, $ in Millions	Mar. 15, 2020	Dec. 31, 2017CAD	Dec. 31, 2017USD ($)	Apr. 30, 2017CAD	Apr. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2016CAD
Disclosure of Long-Term Debt [Line Items]
Undrawn borrowing facilities				CAD 1,400,000	$ 2,000
Borrowings Repayment Description Prior Maturity	Prior to March 15, 2020, Vermilion may redeem up to 35% of the original principal amount of the senior unsecured notes with the proceeds of certain equity offerings by the Company at a redemption price of 105.625% of the principal amount plus any accrued and unpaid interest to the applicable redemption date. Prior to March 15, 2020, Vermilion may redeem some or all of the senior unsecured notes at a price equal to 100% of the principal amount of the senior unsecured notes, plus an applicable premium and any accrued and unpaid interest. On or after March 15, 2020, Vermilion may redeem some or all of the senior unsecured notes at the redemption prices set forth in the following table plus any accrued and unpaid interest.
Interest rate risk increase [Member]
Disclosure of Long-Term Debt [Line Items]
Increase decrease in comprehensive income, before tax, change in fair value of financial instruments attributable to change in relevant market risk variable		CAD 8,000					CAD 11,700
Revolving Credit Facilities [Member]
Disclosure of Long-Term Debt [Line Items]
Notional amount		CAD 1,400,000					CAD 2,000,000
Borrowings, interest rate		3.70%	3.70%				4.00%
Unsecured notes [Member]
Disclosure of Long-Term Debt [Line Items]
Notional amount | $			$ 300			$ 300
Borrowings, interest rate		5.625%	5.625%			5.625%

SHAREHOLDERS' CAPITAL (Details)

SHAREHOLDERS' CAPITAL (Details) - CAD shares in Thousands, CAD in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Shareholder's Capital [Line Items]
Balance at January 1	CAD 2,452,722	CAD 2,181,089
Balance at January 1 (shares)	118,263	111,991
Shares issued for the Dividend Reinvestment Plan	CAD 110,493	CAD 192,998
Vesting of equity based awards (shares)	1,060	1,320
Share-settled dividends on vested equity based awards (shares)	170	87
Balance at December 31	CAD 2,650,706	CAD 2,452,722
Balance at December 31 (shares)	122,119	118,263
Equity based compensation [Member]
Disclosure Of Shareholder's Capital [Line Items]
Shares issued for equity based compensation (shares)	197	193
Dividend reinvestment plan [Member]
Disclosure Of Shareholder's Capital [Line Items]
Shares issued for the Dividend Reinvestment Plan (shares)	2,429	4,672
Issued capital [member]
Disclosure Of Shareholder's Capital [Line Items]
Vesting of equity based awards	CAD 69,743	CAD 67,146
Shares issued for equity based compensation	9,270	8,247
Share-settled dividends on vested equity based awards	CAD 8,478	CAD 3,242

SHAREHOLDERS' CAPITAL (Details

SHAREHOLDERS' CAPITAL (Details Textual) CAD / shares in Units, $ / shares in Units, CAD in Millions, $ in Millions	1 Months Ended	12 Months Ended
	Feb. 28, 2018CADCAD / shares	Dec. 31, 2017USD ($)$ / shares	Dec. 31, 2016USD ($)$ / shares
Disclosure of Shareholder's Capital [Abstract]
Dividends proposed or declared before financial statements authorised for issue but not recognised as distribution to owners | CAD	CAD 52.6
Dividends proposed or declared before financial statements authorised for issue but not recognised as distribution to owners per share | CAD / shares	CAD 0.215
Dividends paid, ordinary shares | $		$ 311.4	$ 299.1
Dividends paid, ordinary shares per share | $ / shares		$ 2.58	$ 2.58

CAPITAL DISCLOSURES (Details)

CAPITAL DISCLOSURES (Details) CAD in Thousands	12 Months Ended
	Dec. 31, 2017CAD	Dec. 31, 2016CAD	Dec. 31, 2015CAD
Disclosure Of Capital Disclosures [Abstract]
Long-term debt	CAD 1,270,330	CAD 1,362,192	CAD 1,387,899
Current liabilities	363,306	290,862
Current assets	(261,846)	(225,906)
Fund flows from operations	CAD 602,565	CAD 510,791
Ratio of net debt to fund flows from operations	2.3	2.8

CAPITAL DISCLOSURES (Details Te

CAPITAL DISCLOSURES (Details Textual)	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Capital Disclosures [Line Items]
Ratio of net debt to funds from operations	2.3	2.8
Top of range [member]
Disclosure Of Capital Disclosures [Line Items]
Ratio of net debt to funds from operations	1.5

EQUITY BASED COMPENSATION (Deta

EQUITY BASED COMPENSATION (Details) - Vermilion incentive plan [Member] - NumberofAwards NumberofAwards in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Equity Based Compensation [Line Items]
Opening balance	1,738	1,711
Granted	563	777
Vested	(539)	(628)
Modified	0	11
Forfeited	(77)	(133)
Closing balance	1,685	1,738

EQUITY BASED COMPENSATION (De73

EQUITY BASED COMPENSATION (Details Textual) - CAD	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Equity Based Compensation [Line Items]
Expense from share-based payment transactions with employees	CAD 61,579,000	CAD 69,235,000
Vermilion incentive plan [Member]
Disclosure Of Equity Based Compensation [Line Items]
Weighted average fair value at measurement date, other equity instruments granted	CAD 49.44	CAD 38.41
Performance factor (ratio)	1.9	1.9
Annual forfeiture rate share options granted	4.40%	4.60%
Expense from share-based payment transactions with employees	CAD 52,300,000	CAD 61,000,000

PER SHARE AMOUNTS (Details)

PER SHARE AMOUNTS (Details) - CAD CAD / shares in Units, shares in Thousands, CAD in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Per Share Amounts [Abstract]
Net earnings (loss)	CAD 62,258	CAD (160,051)
Basic weighted average shares outstanding ('000s)	120,582	115,695
Dilutive impact of VIP ('000s)	1,826	0
Diluted weighted average shares outstanding ('000s)	122,408	115,695
Basic earnings per share	CAD 0.52	CAD (1.38)
Diluted earnings per share	CAD 0.51	CAD (1.38)

PER SHARE AMOUNTS (Details Text

PER SHARE AMOUNTS (Details Textual) shares in Thousands	12 Months Ended
	Dec. 31, 2016shares
Disclosure Of Per Share Amounts [Abstract]
Anti dilutive securities excluded from computation of earnings per share	1,457

FINANCIAL INSTRUMENTS (Details)

FINANCIAL INSTRUMENTS (Details) - CAD CAD in Thousands	Dec. 31, 2017	Dec. 31, 2016
Derivative liabilities [Member]
Disclosure of detailed information about financial instruments [line items]
FINANCIAL LIABILITIES, Carrying Value	CAD (91,253)	CAD (75,144)
FINANCIAL LIABILITIES, Fair Value	(91,253)	(75,144)
Dividends payable [Member]
Disclosure of detailed information about financial instruments [line items]
FINANCIAL LIABILITIES, Carrying Value	(26,256)	(25,426)
FINANCIAL LIABILITIES, Fair Value	(26,256)	(25,426)
Accounts payable and accrued liabilities [Member]
Disclosure of detailed information about financial instruments [line items]
FINANCIAL LIABILITIES, Carrying Value	(219,084)	(181,557)
FINANCIAL LIABILITIES, Fair Value	(219,084)	(181,557)
Long-term debt [Member]
Disclosure of detailed information about financial instruments [line items]
FINANCIAL LIABILITIES, Carrying Value	(1,270,330)	(1,362,192)
FINANCIAL LIABILITIES, Fair Value	(1,274,891)	(1,362,192)
Cash and cash equivalents [Member]
Disclosure of detailed information about financial instruments [line items]
FINANCIAL ASSETS, Carrying Value	46,561	62,775
FINANCIAL ASSETS, Fair Value	46,561	62,775
Derivative assets [Member]
Disclosure of detailed information about financial instruments [line items]
FINANCIAL ASSETS, Carrying Value	20,540	5,493
FINANCIAL ASSETS, Fair Value	20,540	5,493
Loans and receivables [Member]
Disclosure of detailed information about financial instruments [line items]
FINANCIAL ASSETS, Carrying Value	165,760	131,719
FINANCIAL ASSETS, Fair Value	CAD 165,760	CAD 131,719

FINANCIAL INSTRUMENTS (Details

FINANCIAL INSTRUMENTS (Details 1) - CAD CAD in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Currency risk increase [Member] | Euro [Member]
Disclosure of detailed information about financial instruments [line items]
Increase or decrease to net earnings before tax due to change in fair value of financial instruments	CAD (4,607)	CAD (859)
Currency risk increase [Member] | US dollar [Member]
Disclosure of detailed information about financial instruments [line items]
Increase or decrease to net earnings before tax due to change in fair value of financial instruments	2,239	(9,184)
Currency risk decrease [Member] | Euro [Member]
Disclosure of detailed information about financial instruments [line items]
Increase or decrease to net earnings before tax due to change in fair value of financial instruments	4,607	859
Currency risk decrease [Member] | US dollar [Member]
Disclosure of detailed information about financial instruments [line items]
Increase or decrease to net earnings before tax due to change in fair value of financial instruments	(2,239)	9,184
Commodity price risk increase [Member] | Euro [Member]
Disclosure of detailed information about financial instruments [line items]
Increase or decrease to net earnings before tax due to change in fair value of financial instruments	(32,642)	36,999
Commodity price risk increase [Member] | US dollar [Member]
Disclosure of detailed information about financial instruments [line items]
Increase or decrease to net earnings before tax due to change in fair value of financial instruments	(21,616)	(26,513)
Commodity price risk decrease [Member] | Euro [Member]
Disclosure of detailed information about financial instruments [line items]
Increase or decrease to net earnings before tax due to change in fair value of financial instruments	25,321	(33,019)
Commodity price risk decrease [Member] | US dollar [Member]
Disclosure of detailed information about financial instruments [line items]
Increase or decrease to net earnings before tax due to change in fair value of financial instruments	CAD 19,845	CAD 18,882

FINANCIAL INSTRUMENTS (Detail78

FINANCIAL INSTRUMENTS (Details 2) - CAD CAD in Thousands	Dec. 31, 2017	Dec. 31, 2016
1 month
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	CAD 99,092	CAD 79,509
1 month to 3 months
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	138,273	120,233
3 months to 1 year
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	7,974	7,241
1 year to 5 years
Disclosure of detailed information about financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	CAD 912,306	CAD 1,377,819

FINANCIAL INSTRUMENTS (Detail79

FINANCIAL INSTRUMENTS (Details Textual) CAD in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2016CAD	Dec. 31, 2016USD ($)	Dec. 31, 2017CAD	Dec. 31, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Disclosure of detailed information about financial instruments [line items]
Maximum exposure to credit risk | CAD		CAD 137,200		CAD 186,300
Percentage of trade and other current receivables		2.10%		0.70%	0.70%		2.10%
Offsetting of borrowings	$ 600
Revolving Credit Facilities [Member]
Disclosure of detailed information about financial instruments [line items]
Notional amount | CAD		CAD 2,000,000		CAD 1,400,000
Borrowings, interest rate		4.00%		3.70%	3.70%		4.00%
Revolving Credit Facilities [Member] | Nonadjusting events [Member]
Disclosure of detailed information about financial instruments [line items]
Repayments of non-current borrowings | CAD		CAD 1,200,000
Proceeds from non-current borrowings			$ 900
Unsecured notes [Member]
Disclosure of detailed information about financial instruments [line items]
Notional amount					$ 300	$ 300
Borrowings, interest rate				5.625%	5.625%	5.625%
Interest rate swap contract [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets | CAD				CAD 200,000
Cross currency interest rate swap [Member]
Disclosure of detailed information about financial instruments [line items]
Notional amount							$ 900
Financial assets					$ 0.6
Currency risk increase [Member] | US dollar [Member]
Disclosure of detailed information about financial instruments [line items]
Increase decrease in comprehensive income, before tax, change in fair value of financial instruments attributable to change in relevant market risk variable					$ 2.2
Currency risk increase [Member] | US dollar [Member] | Nonadjusting events [Member]
Disclosure of detailed information about financial instruments [line items]
Other comprehensive income, before tax, change in fair value of financial liability attributable to change in credit risk of liability | CAD		CAD 300

RELATED PARTY DISCLOSURES (Deta

RELATED PARTY DISCLOSURES (Details) CAD in Thousands	12 Months Ended
	Dec. 31, 2017CAD	Dec. 31, 2016CAD
Disclosure Of Related Party Disclosures [Line Items]
Short-term benefits	CAD 5,183	CAD 4,748
Share-based payments	20,135	20,169
Key management personnel compensation	CAD 25,318	CAD 24,917
Key management personnel [member]
Disclosure Of Related Party Disclosures [Line Items]
Number of individuals included in the above amounts	20	18

RELATED PARTY DISCLOSURES (De81

RELATED PARTY DISCLOSURES (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Related Party Disclosures [Abstract]
Income from subleasing right-of-use assets	$ 0.2	$ 0.2

SUPPLEMENTAL INFORMATION (Detai

SUPPLEMENTAL INFORMATION (Details) - CAD CAD in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Increase Decrease In Working Capital [Abstract]
Accounts receivable	CAD (34,041)	CAD 28,780
Crude oil inventory	(2,577)	1,311
Prepaid expenses	(1,884)	1,762
Accounts payable and accrued liabilities	37,527	(67,190)
Income taxes payable	2,842	30,213
Foreign exchange	(795)	1,192
Changes in non-cash working capital	1,072	(3,932)
Changes in non-cash operating working capital	665	8,366
Changes in non-cash investing working capital	407	(12,298)
Changes in non-cash working capital	CAD 1,072	CAD (3,932)

SUPPLEMENTAL INFORMATION (Det83

SUPPLEMENTAL INFORMATION (Details 1) - CAD CAD in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Supplemental Information [Line Items]
Cash on deposit with financial institutions	CAD 46,229	CAD 62,614
Guaranteed investment certificates	332	161
Cash and cash equivalents	CAD 46,561	CAD 62,775	CAD 41,676

SUPPLEMENTAL INFORMATION (Det84

SUPPLEMENTAL INFORMATION (Details 2) - CAD CAD in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Supplemental Information [Line Items]
Short-term employee benefits expense	CAD 85,531	CAD 80,408
Operating expense [Member]
Disclosure Of Supplemental Information [Line Items]
Short-term employee benefits expense	48,823	45,061
General and administration expense [Member]
Disclosure Of Supplemental Information [Line Items]
Short-term employee benefits expense	CAD 36,708	CAD 35,347

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) CAD in Millions	Jan. 15, 2018CAD
Major business combination [member]
Disclosure of non-adjusting events after reporting period [line items]
Consideration transferred, acquisition-date fair value	CAD 90.8