Long-term Debt and Capital Structure (Tables)

12 Months Ended

Dec. 31, 2019

Borrowings [Abstract]

Schedule of Long Term Debt

As at December 31,	Notes	2019			2018
Revolving Term Debt	A		265			-
U.S. Dollar Denominated Unsecured Notes	B		6,492			9,241
Total Debt Principal			6,757			9,241
Debt Discounts and Transaction Costs			(58	)		(77	)
Long-Term Debt			6,699			9,164
Less: Current Portion			-			682
Long-Term Portion			6,699			8,482

Schedule Of Unsecured Notes Explanatory

Unsecured notes are composed of:

	2019				2018
As at December 31,	US$ Principal Amount		Total C$ Equivalent		US$ Principal Amount		Total C$ Equivalent
5.70% due October 15, 2019		-		-		500		682
3.00% due August 15, 2022		500		650		500		682
3.80% due September 15, 2023		450		585		450		614
4.25% due April 15, 2027		962		1,249		1,171		1,597
5.25% due June 15, 2037		641		833		700		955
6.75% due November 15, 2039		1,400		1,818		1,400		1,910
4.45% due September 15, 2042		155		202		744		1,015
5.20% due September 15, 2043		58		75		350		477
5.40% due June 15, 2047		832		1,080		959		1,309
		4,998		6,492		6,774		9,241

Schedule of Mandatory Debt Payments

	US$ Principal Amount		Total C$ Equivalent
2020		-		-
2021		-		-
2022		500		650
2023		450		585
2024		-		-
Thereafter		4,048		5,257
		4,998		6,492

Summary of Net Debt to Adjusted EBITDA

Net Debt to Adjusted EBITDA ⁽¹⁾

As at December 31,	2019			2018			2017
Current Portion of Long-Term Debt		-		682				-
Long-Term Debt		6,699			8,482			9,513
Less: Cash and Cash Equivalents		(186	)		(781	)		(610	)
Net Debt		6,513			8,383			8,903
Net Earnings (Loss)		2,194			(2,669	)		3,366
Add (Deduct):
Finance Costs		511			628			725
Interest Income		(12	)		(19	)		(62	)
Income Tax Expense (Recovery)		(797	)		(920	)		352
Depreciation, Depletion and Amortization		2,249			2,131			2,030
E&E Write-down		82			2,123			890
Unrealized (Gain) Loss on Risk Management		149			(1,249	)		729
Foreign Exchange (Gain) Loss, Net		(404	)		854			(812	)
Revaluation (Gain)		-			-			(2,555	)
Re-measurement of Contingent Payment		164			50			(138	)
(Gain) Loss on Discontinuance		-			(301	)		(1,285	)
(Gain) Loss on Divestitures of Assets		(2	)		795			1
Other (Income) Loss, Net		(11	)		(12	)		(5	)
Adjusted EBITDA		4,123			1,411			3,236
Net Debt to Adjusted EBITDA	1.6x			5.9x			2.8x

(1) IFRS 16 was adopted January 1, 2019 using the modified retrospective approach; therefore, comparative information has not been restated.

Summary of Net Debt to Capitalization

Net Debt to Capitalization

As at December 31,	2019		2018		2017
Net Debt		6,513		8,383		8,903
Shareholders’ Equity		19,201		17,468		19,981
		25,714		25,851		28,884
Net Debt to Capitalization	25%		32%		31%