Description of Business and Segmented Disclosures (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure Of Reportable Segments [Abstract]

Schedule of Segment and Operational Information

A) Results of Operations – Segment and Operational Information

	Oil Sands								Deep Basin									Refining and Marketing
For the years ended December 31,	2018			2017		2016			2018			2017			2016			2018			2017			2016
Revenues
Gross Sales		10,026			7,362		2,929			904			555		-				11,183			9,852			8,439
Less: Royalties		473			230		9			72			41		-				-		-				-
		9,553			7,132		2,920			832			514		-				11,183			9,852			8,439
Expenses
Purchased Product		-			-		-			-		-			-				9,261			8,476			7,325
Transportation and Blending		5,879			3,704		1,721			90			56		-				-		-				-
Operating		1,037			934		501			403			250		-				927			772			742
Production and Mineral Taxes		-		-			-			1			1		-				-		-				-
(Gain) Loss on Risk Management		1,551			307		(179	)		26		-			-				(1	)		6			26
Operating Margin		1,086			2,187		877			312			207		-				996			598			346
Depreciation, Depletion and Amortization		1,439			1,230		655			412			331		-				222			215			211
Exploration Expense		6			888		2			2,117		-			-				-		-				-
Segment Income (Loss)		(359	)		69		220			(2,217	)		(124	)	-				774			383			135
									Corporate and Eliminations									Consolidated
For the years ended December 31,									2018			2017			2016			2018			2017			2016
Revenues
Gross Sales										(724	)		(455	)		(353	)		21,389			17,314			11,015
Less: Royalties										-		-				-			545			271			9
										(724	)		(455	)		(353	)		20,844			17,043			11,006
Expenses
Purchased Product										(517	)		(443	)		(347	)		8,744			8,033			6,978
Transportation and Blending										(27	)		(12	)		(6	)		5,942			3,748			1,715
Operating										(183	)		(7	)		(4	)		2,184			1,949			1,239
Production and Mineral Taxes										-		-				-			1			1			-
(Gain) Loss on Risk Management										(1,271	)		583			554			305			896			401
Depreciation, Depletion and Amortization										58			62			65			2,131			1,838			931
Exploration Expense										-		-				-			2,123			888			2
Segment Income (Loss)										1,216			(638	)		(615	)		(586	)		(310	)		(260	)
General and Administrative										391			300			318			391			300			318
Onerous Contract Provisions										629			8			8			629			8			8
Finance Costs										627			645			390			627			645			390
Interest Income										(19	)		(62	)		(52	)		(19	)		(62	)		(52	)
Foreign Exchange (Gain) Loss, Net										854			(812	)		(198	)		854			(812	)		(198	)
Revaluation (Gain)										-			(2,555	)		-			-			(2,555	)		-
Transaction Costs										-			56			-			-			56			-
Re-measurement of Contingent Payment										50			(138	)		-			50			(138	)		-
Research Costs										25			36			36			25			36			36
(Gain) Loss on Divestiture of Assets										795			1			6			795			1			6
Other (Income) Loss, Net										(12	)		(5	)		34			(12	)		(5	)		34
										3,340			(2,526	)		542			3,340			(2,526	)		542
Earnings (Loss) From Continuing Operations Before Income    Tax																			(3,926	)		2,216			(802	)
Income Tax Expense (Recovery)																			(1,010	)		(52	)		(343	)
Net Earnings (Loss) From Continuing Operations																			(2,916	)		2,268			(459	)

Schedule of Revenues by Product

B) Revenues by Product

For the years ended December 31,	2018		2017		2016
Upstream
Crude Oil	9,662		7,184		2,902
Natural Gas	321		235		16
NGLs	333		184		-
Other	69		43		2
Refined Product	9,032		7,312		5,972
Market Optimization	2,151		2,540		2,467
Corporate and Eliminations	(724	)	(455	)	(353	)
Revenues From Continuing Operations	20,844		17,043		11,006

Schedule of Geographical Information

C) Geographical Information

	Revenues
For the years ended December 31,		2018	2017	2016
Canada		11,695	9,723	4,978
United States		9,149	7,320	6,028
Consolidated		20,844	17,043	11,006

	Non-Current Assets (1)
As at December 31,	2018		2017
Canada (2)		27,644		31,756
United States		4,175		3,856
Consolidated		31,819		35,612

(1)Includes exploration and evaluation (“E&E”) assets, property, plant and equipment (“PP&E”), other assets and goodwill.

(2) Certain crude oil and natural gas properties of the Deep Basin segment, which reside in Canada, were reclassified in 2018 to PP&E and E&E from assets held for sale in current assets.

Schedule of Exploration and Evaluation Assets, Property, Plant and Equipment, Goodwill and Total Assets

D) Exploration and Evaluation Assets, Property, Plant and Equipment, Goodwill and Total Assets

	E&E Assets				PP&E
As at December 31,	2018		2017		2018		2017
Oil Sands		639		617		21,646		22,320
Deep Basin		146		3,056		2,482		3,019
Refining and Marketing		-	-			4,284		3,967
Corporate and Eliminations		-	-			286		290
Consolidated		785		3,673		28,698		29,596

	Goodwill				Total Assets
As at December 31,	2018		2017		2018		2017
Oil Sands		2,272		2,272		25,373		26,799
Deep Basin	-		-			2,742		6,694
Conventional	-		-			14		644
Refining and Marketing	-		-			5,621		5,432
Corporate and Eliminations	-		-			1,424		1,364
Consolidated		2,272		2,272		35,174		40,933

Schedule of Capital Expenditures

E) Capital Expenditures ⁽¹⁾

For the years ended December 31,	2018	2017	2016
Capital Investment
Oil Sands	887	973	604
Deep Basin	211	225	-
Conventional	-	206	171
Refining and Marketing	208	180	220
Corporate and Eliminations	57	77	31
	1,363	1,661	1,026
Acquisition Capital
Oil Sands (2)	332	11,614	11
Deep Basin	9	6,774	-
Total Capital Expenditures	1,704	20,049	1,037

(1)Includes expenditures on PP&E, E&E assets and assets held for sale.

(2) In connection with the acquisition discussed in Note 9, Cenovus was deemed to have disposed of its pre-existing interest in FCCL Partnership (“FCCL”) and re-acquired it at fair value as required by International Financial Reporting Standard 3, “Business Combinations” (“IFRS 3”), which is not reflected in the table above. The carrying value of the pre-existing interest was $9,081 million and the estimated fair value was $11,605 million as at May 17, 2017.