I think you are both right. Example WTI is priced at $US not $CDN. If you assume $80 WTI and the CDN dollar is at par you would receive $80 CDN for 1 barrel. Now if the exchange rate is at .95 then you would receive $84 CDN for the same $80 WTI priced in US dollars. So CLL does receive it CDN dollars but it is based on a US dollar barrel.

The catch is the revenue may increase with a stronger US dollar, everything else being equal, but interest on the debt and the debt itself also increases as it is a US dollar debt, converted to CDN on the balance sheet.