Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Financial Instruments [Abstract]

Schedule of long-term debt

The following table reconciles the changes in TransGlobe’s long-term debt, including the current portion:

($000s)	2021			2020
Balance, beginning of year		21,464			37,041
Draws on revolving credit facility		415			406
Repayment of long-term debt		(18,937	)		(16,504	)
Amortization of deferred financing costs		103			395
Effects of movements in foreign exchange rates		(5	)		126
Balance, end of year		3,040			21,464
Current portion of long-term debt		-			(14,897	)
Non-current portion of long-term debt		3,040			6,567

Based on the Company’s current forecast of future production and prices the estimated future debt payments on long-term debt as of December 31, 2021 are as follows:

($000s)	Prepayment Agreement		Reserves Based Lending Facility		Total
2023		-		3,040		3,040

Prepayment Agreement

($000s)	As at December 31, 2021		As at December 31, 2020
Prepayment agreement - amount drawn		-		15,000
Deferred financing costs		-		(103	)
		-		14,897

Reserves-Based Lending Facility

($000s)	December 31, 2021		December 31, 2020
Reserves-based lending facility - amount drawn		3,040		6,567