FACILITYCalgary

news, commentary & perspective - financings, deals - commercial real estate, infrastructure, oil & gas

FACILITYCalgary May 6/25

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SHAKERS AND MOVERS 
moving, retired, resigned, died or left the company

+ Barry Evans, COO @ Manulife Financial Corporation, retiring

+ Bill Kyle, CEO, Irish Life @ Great-West Lifeco Inc., retiring

+ Cam Six to COO @ Sproule

+ Carey Ford to Sr. VP & CFO @ Precision Drilling Corporation

+ Charles Guay, Pres & CEO Manulife Quebec @ Manulife Financial Corporation, retiring

+ Charlie Guille, founder @ Cougar Contractors Ltd., died

+ David Harney to CEO, Irish Life @ Great-West Lifeco Inc.

+ Ed Martin, CEO @ Nalcor Energy, resigned

+ E.J. Bird, CFO @ Sears Canada Inc., resigned

+ Evelyn Struder @ Petrocapita Income Trust, left the company

+ Greg Marr to CFO @ Petrocapita Income Trust

+ Jim Janetos to Partner,National Projects @ McCarthy Tetrault

+ Lowy Gunnewiek to Pres. & CEO @ Spoule

+ Micheline Maylor, to Poet Laureate @ City of Calgary

+ Peter Dinsdale to Pres. & CEO @ YMCA Canada

+ Roger Renaud to Global COO @ Manulife Financial Corporation

+ Ron Stevenson to Pres. @ Ledcor Group of Companies

+ Stan Marshall to Pres. & CEO @ Naclor Energy

+ Tom Lassu to Pres. @ Ledcor Industries Inc.

+ Veronica Foley to Sr. VP, General Counsel & Corp. Secretary @ Precision Drilling Corporation

+ Walter Badun, founder and former CEO @ Penreal, died


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




 SHAREHOLDER MEETINGS

+ Apr. 26; BMO Life Assurance Company, Annual Meeting, Toronto

+ Apr. 26; Choice Properties REIT, Annual Meeting of Unitholders, Toronto

+ Apr. 26; CN, Annual General Meeting of Shareholders, Montreal

+ Apr. 26; Eagle Energy Inc., Annual Shareholders Meeting, Calgary

+ Apr. 28; Empire Life Insurance Company, Annual and Special Meeting, Toronto

+ Apr. 28; GMP Capital Inc., Annual Meeting of Common Shareholders, Toronto

+ Apr. 28; SMART Technologies Inc., Special Shareholders Meeting, Calgary

+ Apr. 28; Suncor Energy, Annual General Meeting of Shareholders, Calgary

+ Apr. 28; Superior Plus Corp., Annual Meeting of Shareholders, Toronto

+ Apr. 28; TransAlta Renewables Inc., Annual Meeting of Shareholders, Calgary

+ Apr. 28; TransCanada Corporation, Annual and Special Meeting of Shareholders, Calgary

+ May 2; Genesis Land Development Corp., Annual and Special General Meeting, Calgary

+ May 3; Black Diamond Group Limited, Annual General Meeting of Shareholders, Calgary

+ May 3; Economical Insurance, Annual Meeting, Kitchener

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

+ May 5; Industrial Alliance Insurance, Annual Meeting, Quebec City

+ May 5; Manulife Financial Corporation et al, Annual Meetings, Toronto

+ May 5; Oncolytics Biotech Inc., Annual General Meeting, Toronto

+ May 5; CT REIT, Annual Meeting of Unitholders, Toronto

+ May 5; SNC-Lavalin, Annual Shareholders Meeting, Montreal

+ May 6; Enerplus Corporation, Annugal General Meeting, Calgary

+ May 6; TrimacTransportation Ltd., Annual General Meeting, Calgary

+ May 9; Inter Pipeline Ltd., Annual General Meeting of Shareholders, Calgary

+ May 10; Equitable Life of Canada, Annual Meeting of Participating Policy Holders, Waterloo

+ May 10; Keyera Corp., Annual Meeting of Shareholders, Calgary

+ May 11; Summit Industrial Income REIT, Annual Unitholders Meeting, Toronto

+ May 12; Enbridge Inc., Annual Meeting of Shareholders, Calgary

+ May 12; Enbridge Income Fund Holdings Inc., Annual Meeting of Shareholders, Calgary

+ May 13; Pembina Pipeline Corporation, Annual General Meeting of Shareholders, Calgary

+ May 13; WPT Industrial REIT, Annual and Special Meeting of Unitholders, Toronto

+ May 16; Anderson Energy Inc., Annual and Special Meeting of Shareholders, Calgary

+ May 18; US Oil Sands Inc., Annual General and Special Meeting of Shareholders, Calgary

+ May 18; Sofame Technologies Inc., Annual General and Shareholder Meeting, Pointe Claire, QB

+ May 19; Crombie REIT, Annual General Meeting, New Glasgow, NS

+ May 25; Partners REIT, Annual and General Meeting of Unitholders, Toronto

+ May 25; CAP REIT Annual Meeting of Unitholders, Toronto

+ May 31; Bankers Petroleum Ltd., Special Meeting of Shareholders, Calgary

+ June 15; Rock Energy Inc., Special Meeting of Shareholders, Calgary


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



  GLOSSARY 

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+ `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

+ CEAA – Canadian Environmental Assessment Agency

+ COSIA - Canada's Oil Sands Innovation Alliance

+ CPPIB – Canada Pension Plan Investment Board

+ CREB - Calgary Real Estate Board

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

+ 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

+ GJ – gigajoule

+ GLA – gross leasable area

+ GOA - Government of Alberta

+ GTA – greater Toronto area

+ G&A – general and administrative

+ 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

+ MCF – thousand cubic feet

+ MCF/D – thousand cubic feet per day

+ mezz – mezzanine debt

+ MOU – Memorandum of Understanding

+ MW – megawatt (1 million watts)

+ NAFTA – North American Free Trade Agreement

+ NEB – National Energy Board

+ NGLs – natural gas liquids

+ 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

+ RFP – request for proposals

+ RFQ – request for qualifications

+ RICS – Royal Institution of Chartered Surveyors

+ SAGD – steam assisted gravity drainage

+ S & P – Standard & Poors

+ sub – subsidiary

+ sub. – subordinated

+ tic toc – we’ll see …

+ UDI – Urban Development Institute

+ WTI – West Texas Intermediate crude benchmark price

+ WTO – World Trade Organization




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FACILITYCalgary
current week data

this  site is refreshed with a new issue every Tuesday morning


updated April 26, 2016




 TODAY'S HEADLINES


NEWS | Alberta credit downgrade | crude up⬆ | Devon sells US$200 million in assets | Enbridge pipeline traction; $7.5 billion Line 3 Replacement and Northern Gateway | Husky Energy selling interest in midstream assets for $1.7 billion | job cuts at Shell, Schlumberger & Halliburton | Mayor Nenshi shared a ride | Scotiabank selling Roynat leasing division | royalty rules clarity |TransCanada progress on Energy East + Bob Dhillon interview | upcoming events, appointments, oil sands/heavy oil + climate change + infrastructure + REIT NEWS + financings + VIEWPOINT guest article ‘Service as it once was!’ by Mark Kolke >>>>




CONVERSATIONS

Mark Kolke interviews interesting people. He seeks a glimpse of what drives them, how they see the world and what they see in Calgary's future. 

This week's conversation with Bob Dhillon, Pres. & CEO @ Mainstreet Equity Corp.

Last week's conversation with Gerald (Gerry) Chipeur, QC, Partner @ Miller Thomson

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



 QUOTES

+ The purpose of a business is to create a customer. – Peter Drucker

+ Customer service, they say, is dead. Actually, it isn’t. It’s just hiding behind a call center in Manila. – Timothy Noah




BOARDROOM changes, purges, appointments etc.

+ John Fitzgerald to Director @ Kingsway Financial Services Inc.

+ Mansoor Anjum to Director @ Georox Resources Inc.




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 SAVE THE DATE / upcoming events

+ May 10; Land & Development Conference, Metro Toronto Convention Centre, Toronto; info/register

+ May 10-12; 4th Annual Canada LNG Export Conference & Exhibition, Vancouver Convention Centre, Vancouver; info/register

+ May 12; BOMA GALA; TransCanada BOMA Excellence Awards Gala, Westin, Calgary

+ May 12; Edmonton Real Estate Forum, Shaw Conference Centre, Edmonton; info/register

+ May 17; Winnipeg Real Estate Forum, RBC Convention Centre, Winnipeg; info/register

+ May 26-27; 2nd Annual Platts LNG & Natural Gas Markets Asia, Singapore; info/register

+ May 31; Calgary Real Estate Strategy & Leasing Conference, TELUS Convention Centre, Calgary; info/register

+ June 2; OPEC, 169th Ordinary Meeting, Vienna, Austria

+ June 7-9; Global Petroleum Show, Stampede Park, Calgary; info/register

+ Sept. 3 – 4; 26th Annual Canmore Highland Games, Canmore; info/tickets

+ Sept. 22-25; 2016 Calgary Home + Design Show, BMO Centre, Stampede Park, Calgary info/register

+ Oct. 4-5; CanWeld 2016, Edmonton Northlands, Edmonton

+ Oct. 9-13; 23rd World Energy Congress, Istanbul, Turkey; info/register

2017

+ Apr. 4-7/2017; Japan Gastech Conference & Exhibition, Tokyo; info/register/save the date

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


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



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NEWS SUMMARY 
 April 19 - 26  


+ Alberta’s credit rating downgrade; last week it was Standard & Poors taking us from AAA to AA, this week Moody’s have cut us from AAA to 1-notch below, whatever that means

+ Bass Pro Shops making takeover bid to acquire Cabela’s Inc.

+ confidence returned to Calgary this week; not sure how to describe it exactly, but I sense it in the marketplace, in conversation – in the instructions of clients who have spent enough time getting used to the ‘new normal’, and it is time to get re-focused. They are. I’ll stand by this prediction, this month is the turning point. Not about politics or pipelines or prices – but energy, in all of us. Now, get to work!

+ current energy prices – live link to Bloomberg energy prices;  crude prices steady as traders remain hopeful for some form of OPEC market-stabilizing actions, and U.S. gasoline demand has strengthened; yesterday’s close - WTI at US$43.07 /bbl, Brent$44.90 …

+ Devon Energy Corp. agreed sell a package of non-core Oklahoma assets to White Star Petroleum LLC for US$200 million

+ Enform’s Petroleum Labour Market Information unit published its Oil & Gas Industry outlook 2016-2020

+ FACILITYCalgary’s OP-ED page, guest article: ‘Service as it once was!’ by Mark Kolke, Realtor/small business owner, and publisher of FACILITYCalgary - click VIEWPOINT TAB

+ FirstOnSite Restoration G.P. Inc., under CCAA creditor protection, agreed to be acquired by Interstate Restoration LLC; terms not disclosed

+ GOA Royalty changes are rolling out; technical formulas for the new regime were released

+ Halliburton cut 6,000 jobs in Q1 2016

+ Husky Energy agreed to sell 65% ownership in Lloydminster area midstream assets to Cheung Kong Infrastructure Holdings Limited and Powers Assets Holdings Limited

+ Le Chateau Inc. announced it will be closing 40 stores across Canada this year

+ Magnum Hunter Resources Corporation got court approval for its Chapter 11 Bankruptcy restructuring plan

+ Mayor Naheed Nenshi facing Ethics Commissioner investigation over his Boston Lyft-shared-ride video comments about Uber Part 1 – 15 minutes – and Part 2 – 12 minutes; seems part SNL skit/part embarrassment, part indiscrete revelations (hence, the ethics investigation) along with interesting conversation on U.S. presidential politics [note to self, ‘beware the dash-cam’]

+ NEB gave a favourable ruling on Enbridge’s Line 3 Replacement project – saying the project ‘is in the Canadian public interest’ and recommending Project approval to the federal Governor in Councile; capital cost is $7.5 billion and replacing the 50-yr. old 1,660 km line will boost delivery to 760,000 barrels/day, double the current flow level

+ Notley government warming to pipelines; the Premier has been meeting with B.C. Premier advocating for Gateway and with the Federal Trudeau Cabinet who are re-thinking the earlier announced westcoast tanker moratorium

+ Paramount Resources Ltd. closed its sale of Musreau midstream sour natural gas assets to Pembina Pipeline Corporation; terms not disclosed

+ Parkland Fuel Corporation agreed to acquire the propane business of Girard Bulk Services for $4.8 million

+ PJ’s Pets and Pets Unlimited closing 27 location across Canada

+ Saudi Prince rolls out plan to end ‘addiction to oil’ in Saudi Arabia

+ Schlumberger confirmed it has cut 2,000 jobs in Q1/2016; its global headcount now 93,000

+ Scotiabank selling a Roynat division; Roynat Lease Finance is being sold to Meridian Credit Union Limited; terms not disclosed

+ Shell will close offices in Reading, Aberdeen and Manchester following takeover of BG Group; cutting 2,800 in connection with the BG Group specifically – will closed its Thames Valley Park campus by the end of 2016, as part of earlier announcements to cut 10,000 jobs worldwide this year

+ TransCanada Corporation making peace with Quebec over Energy East Pipeline plans; will acquiesce to their request for environmental oversight

+ Trez Capital Group LP forming a JV with Forman Capital LP to be called Trez Forman Capital Group LP to facilitate Trez’s expansion in the U.S. market




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Blackbird Energy Inc. is on the market to raise $20 million in equity

+ Canadian Overseas Petroleum Ltd. is on the market to raise $8.25 million by a common shares and warrants financing

+ CWC Energy Services Corp. is on the market to raise up to $14,631,900 by a rights offering

+ Enbridge Income Fund Holdings Inc. closed $718 million equity financing

+ Firm Capital Mortgage Investment Corporation closed $22,059,000 equity financing

+ Flyht Aerospace Solutions Ltd. is on the market to raise $5.0 million in equity

+ Gensource Potash Corporation is on the market to raise $2.0 million in equity

+ Georox Resources Inc. is on the market to raise $700,000 in equity

+ Gran Tierra Energy Inc. closed $15 million overallotment of its convertible debt offering

+ Grande West Transportation Group Inc. is on the market to raise $2.4 million in convertible debt

+ Jasper Mining Corporation closed $20,000 equity financing

+ Manitok Energy Inc. is on the market to raise $10.0 million in equity

+ Maple Leaf Green World closed $485,000 common shares and warrants financing

+ Newalta Corporation closed $54 million equity financing

+ NorthWest Healthcare Properties REIT closed $9.0 million overallotment of its recent equity financing

+ Petrocapita Income Trust closed $1,320,000 convertible debt financing

+ ShaMaran Petroleum Corp. is on the market to raise US$150 million in debt

+ Sterling Resources Ltd. is on the market to raise $219,845,330 by a rights offering

+ TransCanada Corporation closed $500 million preferred share issue

+ WPT Industrial REIT secured $100 million Revolving Credit Facility




INTERESTING REAL ESTATE NEWS, other places


+ Chartwell Retirement Residences agreed to acquire 127 suite Lord Lansdowne Retirement Residence in Ottawa for $68.4 million

+ LondonHouse hotel in Chicago sold for a record price; sale/leaseback deal has Union Investment Real Estate GmbH acquired the property for US$315 million – that’s US$697,000/door




 CLIMATE CHANGE / LEED / RENEWABLE ENERGY  

+ Conference Board of Canada issued its How Canada Performs: Environment report; they gave Alberta a D grading

+ SunEdison filed for Chapter 11 Bankruptcy protection




 INFRASTRUCTURE / P3  


+ Caisse de dépôt et placement du Québec proposing to build a $5.5-billion automated rail network connecting downtown Montreal with south and north shores, and airport. The 67-km. project purports to generate an estimated $5-billion in private real estate developments on the route

+ City of Calgary’s review of Calgary Flames et al plan for CalgaryNEXT project hit a speed-bump; proposed budget of $1.8 billion in taxpayer obligations, pushed in part by high site cleanup costs; Council will meet with proponents privately; tic toc … this project is far more alive than dead

+ GOA announced one of its new infrastructure projects; $100 million for new exchanges at Gaetz Ave. and Taylor Dr. with Highway 2 in Red Deer

+ Mackenzie-Vaughan Hospital Project news; two bidding consortia on RFP call; Plenary Health and Hospital Infrastructure Partners




 this week in REITS 


+ NorthWest Healthcare Properties REIT closed $9.0 million overallotment of its recent equity financing

+ WPT Industrial REIT secured $100 million Revolving Credit Facility




 OIL SANDS AND 
HEAVY OIL NEWS 

+ GOA Royalty changes are rolling out; technical formulas for the new regime were released


Unless otherwise noted, everything on this website is Copyright  Protected - © 1999 - 2025 - Mark Kolke, Publisher / MaxComm  Communications/Waterglass Press, units of PLANDflex Corporation, all rights reserved.


Our mailing address is: 6204B Burbank Road SE, Calgary, T2H 2C2, Canada

this site last updated May 6, 2025