FACILITYCalgary

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FACILITYCalgary May 6/25

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Andrea Whyte to M&A Partner, Calgary @ McCarthy Tetrault LLP

+ Bassam Moubarak to CFO @ Lithium X Energy Corp.

+ Brenda Beckendorf to Chief Growth Officer @ Launch Strategic Group

+ Daniel Kriznic, CFO @ Lithium X Energy Corp., resigned

+ Françoise Bertrand to Chair @ VIA Rail Canada

+ Gerald Soloway, Founder and Director @ Home Capital Group Inc., retiring

+ James Harrison, Director @ Zargon Oil & Gas Ltd., stepping down

+ Nathalie St-Pierre to Pres. & CEO @ Canadian Propane Association

+ Ralph Gillcrist to Pres. & CEO @ Oronova Energy Inc.

+ Robert Blowes to Interim CFO @ Home Capital Group Inc.

+ Tamara Finch to Managing Dir. Portfolio Management @ Ontario Teachers’ Pension Plan

+ Terry McInally to Chief Compliance & Risk Officer @ Gateway Casinos & Entertainment Limited

+ Todd Millar to Pres. @ TEC Canada

+ Tony Haywards, Chairman @ Genel Energy, retiring

+ Trent Patterson to Branch Accounting Mgr. @ Rancho Realty


[please send us your appointment notices  kolke@facilitycalgary.com]




IN MEMORIUM
SHAKERS AND MOVERS who left us 

+ Harvey Shaw, founder of Shaw GMC and many other Calgary based automotive businesses, died

+ Patrcia Allen, founder and former CEO @ The Kerby Centre, died




 SHAREHOLDER MEETINGS

+ Apr. 25; Canadian National Railway, Annual General Meeting of Shareholders, Regina

+ Apr. 26; TFI International Inc., Annual Meeting of Shareholders, Toronto

+ Apr. 26; The Empire Life Insurance Company, Annual Meeting of Shareholders, Toronto

+ Apr. 27; Suncor Energy Inc., Annual General Meeting of Shareholders, Calgary

+ Apr. 28; Capital Power Corporation, Annual Meeting of Shareholders, Edmonton

+ May 2; Agrium Inc., Annual General Meeting of Shareholders, Calgary

+ May 3; Veresen Inc., Annual Meeting of Shareholders, Calgary

+ May 4; Great-West Lifeco, Annual and Special Meeting, Winnipeg

+ May 4; Manulife Financial Corporation, Annual Meeting, Toronto

+ May 4; SNC-Lavalin Gorup Inc., Annual Shareholders’ Meeting, Montreal

+ May 4; The Manufacturers Life Insurance Company, Annual Meeting, Toronto

+ May 4; TransAlta Renewables Inc., Annual Meeting of Shareholders, Calgary

+ May 5; Husky Energy Inc., Annual Meeting of Shareholders, Calgary

+ May 5; Pembina Pipeline Corporation, Annual General Meeting, Calgary

+ May 8; Economical Mutual Insurance Company, Annual Meeting, Kitchener

+ May 8; Inter Pipeline Ltd. Annual General Meeting of Shareholders, Calgary

+ May 9; George Weston Limited, Annual Meeting of Shareholders, Toronto

+ May 9; Gibson Energy Inc., Annual General Meeting, Calgary

+ May 9; Innergex Renewable Energy Inc., Annual and Special Meeting of Shareholders, Montreal

+ May 9; Keyera Corp., Annual Meeting of Shareholders, Calgary

+ May 10; Black Diamond Group Limited, Annual General Meeting, Calgary

+ May 10; Pure Industrial REIT, Annual and Special Meeting of Unitholders, Vancouver

+ May 10; Summit Industrial Income REIT, Annual Meeting of Unitholders, Toronto

+ May 11; Crombie REIT, Annual General and Special Meeting of Unitholders, New Glasgow, NS

+ May 12; Crius Energy Trust, Annual Meeting of Unitholders, Toronto

+ May 12; Emera Inc., Annual Meeting of Shareholders, Halifax

+ May 12; Sleep Country Canada Holdings Inc., Annual General Meeting of Shareholders, Toronto

+ May 17; Bellatrix Exploration Ltd., Annual General Meeting, Calgary

+ May 18; Delphi Energy Corp., Annual General Meeting, Calgary

+ May 23; Sienna Senior Living Inc., Annual Meeting of Shareholders, Toronto

+ May 24; CAPREIT, Annual Meeting of Unitholders, Toronto

+ May 31; PRO REIT, Annual Meeting of Unitholders, Halifax


[please send us your appointment notices  kolke@facilitycalgary.com]




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+ ASC – Alberta Securities Commission

+ AUC – Alberta Utilities Commission

+ BBL – barrel

+ BBLS/D – barrels per day

+ BOE – barrel of oil equivalent

+ Brent – North Sea crude benchmark price

+ CapEx – capital expenditures

+ CAPP - Canadian Association of Petroleum Producers

+ cap rate – capitalization rate

+ CBD – Central Business District

+ CCAA – Companies’ Creditors Arrangement Act

+ CCS – Carbon Capture and Storage

+ CEAA – Canadian Environmental Assessment Agency

+ Chapter 11 – court ordered creditor protection under U.S. bankruptcy law

+ COSIA - Canada's Oil Sands Innovation Alliance

+ CPPIB – Canada Pension Plan Investment Board

+ CREB - Calgary Real Estate Board

+ DIP – debtor in possession

+ EBITDA – earnings before interest, taxes, depreciation and amortization

+ EIA – U.S. Energy Information Administration

+ E & P – exploration and production

+ FERC – U.S. Federal Energy Regulation Commission

+ Forbearance Agreement – a short term formalized relief arrangement when loan terms are in default

+ FSR – floor space ratio

+ FTC – U.S. Federal Trade Commission

+ GJ – gigajoule

+ GLA – gross leasable area

+ GOA - Government of Alberta

+ GOM – Gulf of Mexico

+ GTA – greater Toronto area

+ GW - gigawatt

+ G&A – general and administrative

+ HOOP – Healthcare of Ontario Pension Plan

+ IEA – International Energy Agency

+ IFMA – International Facility Management Association

+ IPO – Initial Public Offering

+ JV – Joint Venture

+ KV – kilovolt (one thousand volts)

+ KW – kilowatt (one thousand watts)

+ LEED – Leadership in Energy and Environmental Design

+ LNG – Liquefied Natural Gas

+ LPG – Liquefied Propane Gas

+ MCF – thousand cubic feet

+ MCF/D – thousand cubic feet per day

+ mezz – mezzanine debt

+ MOU – Memorandum of Understanding

+ MT – metric ton

+ MW – megawatt (1 million watts)

+ NAFTA – North American Free Trade Agreement

+ NEB – National Energy Board

+ NGLs – natural gas liquids

+ OPEC – Organization of Petroleum Exporting Countries

+ P3 – Public Private Partnership

+ PADD – U.S. Petroleum Administration for Defense Districts

+ PPA – Power Purchase Agreement

+ PSAC – Petroleum Services Association of Canada

+ RECA – Real Estate Council of Alberta

+ REIT – Real Estate Investment Trust

+ RFI – request for information

+ RFP – request for proposals

+ RFQ – request for qualifications

+ RICS – Royal Institution of Chartered Surveyors

+ RNG – renewal natural gas

+ SAGD – steam assisted gravity drainage

+ SAIT – Southern Alberta Institute of Technology

+ S & P – Standard & Poors

+ sub – subsidiary

+ sub. – subordinated

+ tic toc – we’ll see …

+ TOD – transit oriented development

+ UDI – Urban Development Institute

+ WTI – West Texas Intermediate crude benchmark price

+ WTO – World Trade Organization

+ YYC – YYC Calgary International Airport


FACILITYCalgary
current week data

this  site is refreshed with a new issue every Tuesday morning


updated Apr. 25, 2017




 TODAY'S HEADLINES


HEADLINES: BP & CNOOC looking as oilsands sales | Cenovus has aggressive drilling plan | Chevron and Loblaw sold gas station portfolios | WestJet planning low-fare unity + Stacey Petersen interview | upcoming events, appointments, oil sands/heavy oil + climate change + infrastructure + REIT NEWS + financings 




CONVERSATIONS

This week's conversation with Stacey Petersen, Executive Director @ Fresh Start Recovery Centre

Last week's conversation with Kelly Ogle, Pres. @ Canadian Global Affairs Institute

A recent conversation with Dale Henwood, Pres. & CEO @ Canadian Sports Institute

Click here to access the archive: archived conversations with fascinating Calgarians ...



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 sponsors of this week's issue:

e-mail to Sharon Martens
 
INTERIOR DESIGN



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COMMERCIAL INTERIOR CONSTRUCTION



CONTACT PIVOTAL
 
PROJECT MANAGEMENT



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



CONTACT MARK KOLKE 
RESIDENTIAL SALES



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OFFICE MOVERS



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 CLIMATE CHANGE / LEED / RENEWABLE ENERGY  

+ Earth Day generated actions and ‘switching off’ all over the world;

+ TransAlta Corporation’s board approved an acceleration of its transition to clean power in Alberta; retirement of Sundance Unit 1 eff. Jan/2018; mothballing Sundance Unit 2 eff. Jan/2018, for a period of up to 2 years; conversion of Sundance Units 3 to 6 and Keephills Units 1 and 2 from coal-fired generation to gas-fired generation by 2021-23 - thereby extending useful life of these until the mid-2030s; and effective immediately, taking steps to secure gas supply required for the converted units (expected to be up to 700 million cubic feet of gas per day at peak levels of demand), including the construction of required pipeline




 CHARITY + INDUSTRY GOLF TOURNAMENTS 

+ May 30; 15th Anual Double Your Impact Calgary Tournament/Opportunity International; Springbank Links Golf Club, Calgary; info/register

+ June 22; 56th Annual, CSPG Golf Tournament, Elbow Springs Golf Club, Calgary; info/register

+ July 6; 15th Annual Coast Hotels Shuhachi Naito Golf Classic, Tsawwassen Springs Golf Club, Delta, BC; info/register

+ Sept. 7; Calgary Dream Centre 9th Annual Chairty Golf Classic, Heritage Pointe Golf Club, De Winton; info/register


[send your event notices to:  kolke@facilitycalgary.com ]



 this week in REITS 


+ Allied Properties REIT closed $200.0 million sr. unsecured debt financing

+ Canadian Real Estate Investment Trust (CREIT) closed $125.0 million sr. unsecured debt financing

+ Fronsac REIT is on the market to raise $5.0 million in equity

+ NorthWest Healthcare Properties REIT’s Australian unit made a $664.0 million takeover bid for Generation Healthcare REIT

+ Slate Retail REIT agreed to acquire Eustis Village (food anchored centre) in Orlando for US$23.0 million

+ Slate Office REIT agreed to acquire Commerce West in Etobicoke for $95.0 million




 SUGGESTIONS / COMMENTS:
 
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NEWS SUMMARY 
 Apr. 18 ~ 25 


+ Alberta’s economy is still ‘in recovery’, but our wholesale trade data graph looks good, rising for the 5th consecutive month

+ BP Plc is reported to be considering sale of its oilsands interests (50% interest in Sunrise project, Husky own the other 50%) …

+ Cenovus Energy Inc. announced it intends to spend $650.0 million to drill 120 conventional new gas wells within the ‘to be acquired’ ConocoPhillips portfolio

+ CNOOC Ltd. took a large write down on its Long Lake oilsands project; reports suggest they are looking to sell it … tic toc

+ Concentric Energy Advisors Inc. acquired Gannett Fleming Canada’s Calgary depreciation and valuation practice; terms not disclosed

+ current energy prices – live link to current Bloomberg energy prices; crude continues to slump

+ Loblaw Companies Limited struck a deal to sell its gas station business to Brookfield Business Partners (213 locations) for $540.0 million

+ NEB launched a new portal to provide data on what is flowing through regulated pipelines

+ NexGen Energy Ltd. adopted a new shareholder rights plan

+ Parkland Fuel Corp. agreed to acquire Chevron Canada’s fuel business; 129 Vancouver area gas stations and a refinery in Burnaby for $1.46 billion

+ Razor Energy Corp. agreed to acquire a portfolio of west central Alberta assets for $9.6 million

+ Return Energy Inc. acquired partner interests in Grande Prairie area for $750,000.0

+ SNC-Lavalin agreed to buy WS Atkins PLC for $3.6 billion

+ softwood lumber tariffs in the wind as U.S. President Trump in crying foul; this decades old tug of war has been a battle in which Canada has prevailed every time in front of trade tribunals and under NAFTA, but my Mr. Trump isn’t happy; whether it is red-herring or a genuine trade wall, it appears oil & gas isn’t the only commodity we need to get more of to tidewater, because lots of countries would love our lumber; Government of Canada commented …

+ Surge Energy Inc. agreed to acquire a central Alberta Sparky area portfolio for $37.0 million

+ Syncrude upgrader at Mildred Lake will return to full operation by end of June with Mar. 14th fire damaged repairs completed

 + TAG Oil Ltd. announced its 2017-18 CapEx Budget is $27.4 million

+ TransCanada Corporation completed its US$1.065 billion sale of New England hydro assets to Great River Hydro LLC

+ Trudeau government moved closer this week to legalization of marijuana; Liberals may rue the day – as safety concerns/drug use will send C-suite executives, risk managers and insurers and little nuts for a while, or for ever … tic toc

+ trivia: did you know Alberta produces 4.0% of the world’s crude oil?

+ WestJet announced intent to launch and ultra-low-cost carrier; start will be late 2017 with 10 high-density Boeing 737-800s




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Aéroports de Montréal is on the market to raised $250.0 million in debt

+ Allied Properties REIT closed $200.0 million sr. unsecured debt financing

+ Canadian Real Estate Investment Trust (CREIT) closed $125.0 million sr. unsecured debt financing

+ Capital Power closed $183.0 million equity financing

+ Fronsac REIT is on the market to raise $5.0 million in equity

+ Renaissance Oil Corp. closed $250,000.0 equity financing by private placement

+ SNC-Lavalin secured $1.9 billion debt and equity financing to support its WS Atkins acquisition

+ Solar Alliance Energy Inc. closed $1.4 million equity financing by private placement




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ a study done by NRC and RBC suggests a link between green buildings and improved productivity

+ Halogen Software released its latest version of Halogen TalentSpace – an interactive talent management and coaching solution




 NEW TECH + TOOLS TO WATCH 

+ BrewTV – app for hand-picking videos from the web

+ Mastermind Match – a peer group matchmaking for entrepreneurs




 QUOTES

+ Anything’s possible if you’ve got enough nerve. – JK Rowling

+ I value the friend who for me finds time on his calendar, but I cherish the friend who for me does not consult his calendar. – Robert Brault




 SAVE THE DATE / upcoming events



+ Apr. 26; Administrative Professionals Day - everywhere

+ Apr. 27; ICSC Canadian Law Conference, Fairmont Royal York, Toronto; info/register

+ Apr. 28; National Day of Mourning - Canada

+ May 2-3; Alberta - U.S> Trade Summit, TELUS Convention Centre, Calgary; info/register

+ May 2-3; Partners In Prevention 2017, The International Centre, Mississauga; info/register

+ May 5; Calgary Economic Development - Report to the Community; REIMAGINE, info/tickets

+ May 8-10; Multiple Pathways to Clean Energy, The Hotel Saskatchewan, Regina; info/register

+ May 11; Edmonton Real Estate Forum, Shaw Conference Centre, Edmonton; info/register

+ June 5; World Environment Day - time to save the planet

+ June 5 - 7; Operational Excellence Conference, BMO Centre, Calgary; info/register

+ June 13 - 15/2017; Global Petroleum Show, Stampede Park, Calgary; info/save the date

+ June 17; Breakfast on the Bridge, Peace Bridge @ 5AM, Calgary, info/tickets - call 403-410-2320 ext. 3591 or visit calgarymfrc.ca

+ Sept. 12-13/2017; Oil Sands Trade Show & Conference, Suncor Community Leisure Centre, Fort McMurray; info/registration

+ Sept. 17-20; 2018 Gastech Exhibition & Conference, Gran Via Venue, Barcelona, Spain; info/register

+ Oct. 16-24/2017; World Design Summit, ‘UNESCO City of Design’, Montreal


[send your event notices to:  kolke@facilitycalgary.com ]



 INFRASTRUCTURE / P3  


+ Crowchild Trail modernization plan approved by Calgary City Council; $1.55 billion in upgrades will go to tunnel, ramps, interchanges and bridge widenings – an approval in principle, but no time frames or budgets or source of funding yet in the works, so expect traffic snarls on the north side of the river until the mid 2020’s …

+ Plan B for a new arena complex to house the Calgary Flames has been discussed further by Calgary City Council; they’ve been told by staff that ‘the location could work’ and have been sent back to their drawing boards for six weeks to flesh out details; Plan A/Next location sill makes extraordinary sense – and it strikes this observer that this current Council – the council who acquired those west village contaminated lands without doing their due diligence ought to suck it up, own the problem and clean it up now. Yes, it’s expensive – but it will be cheap by future standards. Surely Calgary needs to solve this here and now by cleaning up the site … and build a world-class venue on the banks of the Bow; just sayin’

+ Prime Minister Trudeaus’ working rooms across the country to rally support for the planned $35.0 billion Canada Infrastructure Bank; it strikes me that the government, and particularly the Prime Minister is the wrong/worst person to be banging this drum – for a vehicle where the private sector will drive its success, and it seems logical the market would be reluctant to risk investing in something a rookie PM creates … tic toc




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this site last updated May 6, 2025