Surmont

In-situ oil sands development utilizing SAGD recovery. Located south of Fort McMurray in the Athabasca Region of northeastern Alberta. Property covers approximately 684,000 net acres. Operations include two central processing facilities for treatment and blending of bitumen, and a diluent recovery unit. In Q3 2025, drilling commenced on Pad 104W-B, and in Q4 2025, first production was achieved from Pad 104W-A. The company acquired the remaining 50% working interest from TotalEnergies in October 2023.