Cold Lake SAGD bitumen from Lindbergh, Orion and Tucker, blended with diluent for pipeline movement. 2025 AIF: Cold Lake produced 61,327 bbl/d of bitumen in 2025; production has access to Edmonton, Hardisty and Kerrobert sales terminals via pipeline or physical swaps, with accessible downstream pipelines including Trans Mountain, Keystone, Express and Enbridge Mainline; blending costs $1,034 million in 2025; the company holds a long-haul pipeline transportation commitment out of Alberta with service beginning in 2027. March and August 2026 presentations: majority of incremental production growth will be sold to the US Gulf Coast via owned Hamlin Rail Terminal and new firm long-haul pipe capacity; Oil Sales by End Market includes USGC via Pipe. Hardisty Rail Terminal (~260 Mbbls/d) loads low-diluent DRUbit and dilbit for third-party shippers only — not this product row.
