Cenovus Energy invests $2M in Lakeland College. April 9, 2026 Representatives from Cenovus Energy and Lakeland College were all smiles after the $2-million investment announcement at the college's Lloydminster campus on April 7. Taylor Weaver - Meridian Source Cenovus Energy is investing $2 million in Lakeland College to modernize student learning spaces and expand dual-credit programming at its Lloydminster and Vermilion campuses. The funding announcement was made on Tuesday, April 7, and will support upgrades to the Cenovus Energy production lab and power engineering lab at the Lloydminster campus. It will also modernize learning spaces in the school of trades and technology at the Vermilion campus. Furthermore, the investment will establish a dual-credit energy course through Lakeland's school of energy and a dual-credit electrical course in its school of trades, allowing high school students to begin post-secondary training while earning credits. In recognition of the contribution, Lakeland's applied engineering building in Vermilion will be renamed the Cenovus Energy Industrial Trades Building. Stacey Ruller, Lakeland's manager of donor and alumni relations, said the funding is "transformational" for students and programs. "It allows our students to train on the same hands-on equipment they're going to see the moment they enter the workforce," said Ruller. "It builds confidence and ensures they are job-ready." Ruller said the dual-credit programming will also help strengthen regional training opportunities by allowing high school students to explore careers in energy and trades while earning credits toward post-secondary education. "It allows us to promote electrical and energy programs right in our region and gives students the opportunity to continue that learning after high school," she said. The funding is focused on upgrading existing equipment and facilities at the Lloydminster and Vermilion campuses. No additional programming beyond the new dual-credit courses is planned at this time. Ruller added alumni have responded positively to the announcement, noting many graduates already work in the energy sector and with Cenovus. "We celebrate those partnerships," she said. "They are critical to our success." Clayton Ulrich, senior manager of the upstream division with Cenovus in Lloydminster, said the investment strengthens the company's long-standing relationship with the college. "For us, it's a huge opportunity to continue to build that partnership and support student advancement," said Ulrich. He said the initiative aligns with ongoing workforce demand in the energy sector, particularly for skilled trades. "The industry is growing in Saskatchewan and Alberta, and there will continue to be a high demand for skilled workers," he said. Ulrich added Lakeland plays a key role in preparing students for careers in the field. "Success for us is making sure students are prepared to enter the industry and have a clear understanding of what that work looks like," Ulrich added. The sentiment was echoed by a Lakeland alumnus now employed at Cenovus, who credited the college's industry ties for her career readiness. "What made all the difference for me was how hands-on the learning experience was," said Kateryna Svidrak. "The labs and equipment helped me gain confidence quickly, and so much of that is because of the relationship Lakeland has developed with industry leaders like Cenovus." The $2-million investment marks a new chapter in what has become one of the college's most significant corporate relationships. To date, Cenovus has invested more than $7.2 million into Lakeland's power engineering, trades, and Indigenous student success initiatives. The partnership also serves as a direct pipeline to the workforce; since 2023, more than 80 students have completed practicums or student roles with Cenovus, with many transitioning into permanent careers. Get the local stories first! Top headlines and community updates sent to your inbox. No spam. Unsubscribe anytime. Locally-owned and community-driven, the Lloydminster Meridian Source is the online news source in the Border City. Whether it's breaking news, features or sports, if you have questions about what's going on around town, Source it with Meridiansource. Since online platforms no longer support the sharing of news, Meridiansource encourage you to bookmark meridiansource.ca. Whether you're having a coffee or enjoying a meal, check in any time for the most up-to-date news in Lloydminster. Taylor Weaver Published April 09, 2026 Add a Comment January 1, 1970 January 27, 2022 January 28, 2022 January 30, 2022 February 2, 2022

Suncor plans 100,000 bpd production growth as Trans Mountain hits full capacity and LNG Canada awards Phase 2 engineering contract. Canada's oil sands industry is experiencing its most favorable market conditions in a decade, with the Trans Mountain Expansion (TMX) pipeline running at full capacity, Suncor Energy unveiling an ambitious three-year growth plan targeting 100,000 additional barrels per day, and LNG Canada advancing a major expansion of its Coastal GasLink supply pipeline. The convergence of surging Asian demand, elevated oil prices, and growing export infrastructure is reshaping Alberta's energy outlook for 2026 and beyond. Suncor's three-year growth plan: 100,000 bpd and $38 WTI break-even. At its Investor Day on March 31, 2026, Suncor Energy CEO Rich Kruger unveiled a "Three-Year Improvement Plan" for 2026 to 2028. The plan targets adding 100,000 barrels per day of upstream production while cutting corporate break-even costs by $5 per barrel, reducing the WTI break-even to an industry-leading $38 per barrel. Growth will be driven by Fort Hills mining operations, Firebag in-situ expansion at the company's Athabasca oil sands complex, and the West White Rose offshore project offshore Newfoundland. With WTI currently trading above $111 per barrel and Western Canadian Select (WCS) at approximately $82 USD per barrel, roughly $12 below WTI, Suncor's $38 WTI break-even implies operating margins of more than $70 per barrel at current prices. The company's USD-denominated revenues convert at a significant premium in Canadian dollars, with every $1 increase in WTI representing roughly $1.35 to $1.40 CAD of additional revenue per barrel before royalties and operating costs. Trans Mountain running at full capacity on Asian demand surge. The Trans Mountain Expansion pipeline, running at 890,000 barrels per day of total system capacity, has seen a historic surge in demand from Asian buyers seeking to replace Middle Eastern crude grades disrupted by the Strait of Hormuz conflict. Trans Mountain Corporation's CEO confirmed in late March that the pipeline is expected to run at or near full capacity through April and into May 2026. For April, Trans Mountain has reported 0% apportionment, meaning all nominated shipper volumes have been accepted, an indicator that available capacity is fully absorbed. The company has launched an Open Season from April 7 to June 2, 2026, offering firm service contracts to shippers. Trans Mountain expects 80 to 90% of its capacity to be contracted under long-term agreements as a result of the Open Season, providing a stable revenue base for the Crown corporation. For Alberta producers including Suncor, Canadian Natural Resources (CNRL), and Cenovus Energy, full Trans Mountain utilization has narrowed the WCS discount to WTI, with the WCS differential tracking around $12 per barrel below WTI in recent weeks, compared to discounts that have historically exceeded $30 per barrel during periods of pipeline constraints. At WCS of $82 USD, Canadian producers are generating approximately $115 to $117 CAD per barrel at current exchange rates. CNRL at record output, Cenovus integrating MEG Energy. Canadian Natural Resources (CNRL) is on track for record production of 1.6 million barrels of oil equivalent per day across 2026, following the completion of its acquisition of Shell's stake in the Albian oil sands mines, giving CNRL 100% ownership of the 315,000 b/d operation. CNRL has raised its dividend for the 26th consecutive year. The company's corporate break-even, including dividend payments, sits just above $40 per barrel WTI equivalent. Cenovus Energy is guiding oil sands operating costs of approximately $9 per barrel in 2026, among the lowest in the industry, while integrating the thermal oil sands assets of MEG Energy following a strategic acquisition completed earlier this year. Competition for oilfield services labor in the Fort McMurray region is intensifying as production ramps up across multiple operators simultaneously. Canada's four largest oil sands producers, including Suncor, CNRL, Cenovus, and Imperial Oil, are collectively targeting approximately 3.9 million barrels per day in 2026, with 75% of volumes sourced from Alberta's oil sands. LNG Canada awards Coastal GasLink Phase 2 engineering contract. LNG Canada, the Shell-led LNG export project at Kitimat, British Columbia, has awarded a front-end engineering and design (FEED) contract to Técnicas Reunidas for a potential Phase 2 expansion of the Coastal GasLink pipeline. The proposed Phase 2 would increase pipeline capacity from 2.1 billion cubic feet per day to up to 5 billion cubic feet per day, adding five new compressor stations along the route from northeastern British Columbia to the Kitimat terminal. A final investment decision on whether to proceed with doubling LNG export capacity at Kitimat is expected by the end of 2026. LNG Canada's Phase 1 exports, which began in 2025, have found strong demand in Asian markets, and the Hormuz disruption has reinforced the strategic value of Pacific-facing Canadian LNG supply for energy-importing nations in Japan, South Korea, and Southeast Asia. Sources: MarketMinute, Bloomberg, PGJ Online. Published by Oil Authority Submit a correction. Spotted a factual error? Free account required to submit a correction.