Assets Held For Sale and Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2018

The following table presents the results of discontinued operations, including asset sales:

	Three Months Ended						Six Months Ended
For the periods ended June 30,		2018			2017			2018			2017
Revenues
Gross Sales		(1	)		386			15			760
Less: Royalties		2			50			1			100
		(3	)		336			14			660
Expenses
Transportation and Blending	-				54			1			105
Operating		(32	)		115			(27	)		225
Production and Mineral Taxes		2			5			1			10
(Gain) Loss on Risk Management		-			3			-			16
Operating Margin		27			159			39			304
Depreciation, Depletion and Amortization		-			69			-			190
Exploration Expense		-			(1	)		-			2
Finance Costs		-			12			-			33
Earnings (Loss) From Discontinued Operations Before Income Tax		27			79			39			79
Current Tax Expense (Recovery)		-			17			-			22
Deferred Tax Expense (Recovery)		7			3			10			(2	)
After-tax Earnings (Loss) From Discontinued Operations		20			59			29			59
After-tax Gain (Loss) on Discontinuance ⁽¹⁾		(28	)	-				223		-
Net Earnings (Loss) From Discontinued Operations		(8	)		59			252			59

(1)	Net of deferred tax recovery of $10 million in the three months ended June 30, 2018 and net of deferred tax expense of $83 million in the six months ended June 30, 2018.

Cash flows from discontinued operations reported in the Consolidated Statement of Cash Flows are:

	Three Months Ended					Six Months Ended
For the periods ended June 30,		2018		2017			2018	2017
Cash From (Used in) Operating Activities		27		137			38	270
Cash From (Used in) Investing Activities		(37	)	(50	)		414	(138	)
Net Cash Flow		(10	)	87			452	132

As at June 30, 2018, the assets and liabilities held for sale related to non-core Deep Basin assets primarily in the East Clearwater area.

As at June 30, 2018	E&E Assets				PP&E				Decommissioning Liabilities
Deep Basin		47				432				151