Item 2. Properties
ITEM 2. Properties
The following presents information about our principal properties and facilities as of December 31, 2025. Except as indicated, we own all of the properties or facilities listed below. Each of the properties is encumbered by our secured credit facilities. See “ Management’s Discussion and Analysis of Financial Condition and Results of Operations ” in Item 7 and Note 10 – Debt to the notes to consolidated financial statements included in Item 8 of this annual report for additional information concerning our credit facilities. For a discussion about how each of our business segments utilizes its respective properties, see Item 1, “Business” of this annual report.
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Location Approximate
Square
Footage/Acreage Description
Australia:
Coppabella, Queensland, Australia 192 acres Coppabella Village
Narrabri, New South Wales, Australia 82 acres Narrabri Village
Boggabri, New South Wales, Australia 52 acres Boggabri Village
Dysart, Queensland, Australia 50 acres Dysart Village
Middlemount, Queensland, Australia 37 acres Middlemount Village
Nebo, Queensland, Australia 26 acres Nebo Village
Rosewood, Queensland, Australia 18 acres Rosewood Village
Moranbah, Queensland, Australia 17 acres Moranbah Village
Waratah, Queensland, Australia 11 acres Waratah Village
Karratha, Western Australia, Australia 11 acres Karratha Village
Acacia, Queensland, Australia 3 acres Acacia Village
Vitrinite, Queensland, Australia 3 acres Vitrinite Village
Perth, Western Australia, Australia (lease) 13,500 sq. feet Office
Sydney, New South Wales, Australia (lease) 11,437 sq. feet Office
Brisbane, Queensland, Australia (lease) 5,543 sq. feet Office
Canada:
Fort McMurray, Alberta (leased land) 240 acres Wapasu Creek Lodge
Fort McMurray, Alberta (leased land) 138 acres Fort McMurray Village
Fort McMurray, Alberta (leased land) 135 acres Conklin Lodge
Fort McMurray, Alberta (leased land) 128 acres Beaver River and Athabasca Lodges
Kitimat, British Columbia 59 acres Sitka Lodge
Fort McMurray, Alberta (leased land and lodges) 58 acres Hudson and Borealis Lodges
Acheson, Alberta (lease) 40 acres Office and warehouse
Vanderhoof, British Columbia 33 acres Storage yard
Fort McMurray, Alberta (leased land) 30 acres Greywolf Lodge
Fort McMurray, Alberta (leased land) 18 acres Anzac Lodge
Edmonton, Alberta (lease) (1)
86,376 sq. feet Office and commercial production kitchen
Edmonton, Alberta (lease) (2)
23,648 sq. feet Office
Calgary, Alberta (lease) 7,000 sq. feet Office
U.S.:
Houston, Texas (lease) 10,639 sq. feet Principal executive offices
Killdeer, North Dakota 39 acres Killdeer Lodge
(1) The office and commercial production kitchen was vacated as of December 31, 2025 and the related lease expired in February 2026.
(2) This new office in Canada replaced the office and commercial production kitchen.
We also own various undeveloped properties in British Columbia.
We believe that our leases are at competitive or market rates and do not anticipate any difficulty in leasing additional suitable space upon expiration of our current lease terms.
Leased land for our lodge properties in Canada refers to land leased from the Alberta government. We also lease land for our Karratha Village from the state government in Australia. Generally, these leases have an initial term of ten years and are scheduled to expire between 2027 and 2035 with the exception of one lease that expires in 2049.
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