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

+ Clint Elenko to VP Western Canada @ CT REIT

+ Denis Despres, COO @ Major Drilling Group International Inc., left the company

+ Elio Luongo to CEO @ KPMG Canada

+ Gerald Cavendish Grosvenor, Sixth Duke of Westminster and Chairman @ Grosvenor Estate, died

+ Ihab Toma to CEO @ Vantage Drilling International

+ Naomi Stefura to CFO @ Melcor Developments Ltd.

+ Naomi Stefura to CFO @ Melcor REIT

+ Penny Shebaylo to Bus. Dev. Mgr. @ Heritage Business Interiors

+ Pierre Despars, Exec. VP & CFO @ Gaz Métro Inc., retiring


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




BOARDROOM changes, purges, appointments etc.

+ Lee Matheson to Director @ WesternOne Inc.

+ Rebecca Morley to Director @ Birchcliff Energy Ltd.

+ Tom Alford to Director @ Strad Energy Services Ltd.


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




 SHAREHOLDER MEETINGS

+ Aug. 26; Karnalyte Resources Inc., Annual Meeting of Shareholders, Saskatoon

+ Aug. 26; Forent Energy Ltd., Annual General and Special Meeting, Calgary

+ Aug. 26; PRD Energy Inc., Annual and Special Meeting of Shareholders, Calgary

+ Aug. 29; Twin Butte Energy Ltd., Annual and Special Meeting of Security Holders, Calgary

+ Aug. 30; Antrim Energy Inc., Annual and Special Meeting of Shareholders, Calgary

+ Sept. 8; Arsenal Energy Inc., Security Holders Meeting, Calgary

+ Sept. 8; Lone Pine Resources Canada Ltd., Security Holders Meeting, Calgary

+ Sept. 12; Calgary Chamber of Voluntary Organizations, Calgary

+ Sept. 15; Lightstream Resources Ltd., Special Meeting of Shareholders, Secured Noteholders  and Unsecured Noteholders to consider recapitalization transaction, Calgary




 CHARITY GOLF TOURNAMENTS 

+ Aug. 31; 21st Annual Scotiabank Charity Golf Classic, Heritage Pointe, Calgary; info/register

+ Aug. 31 – Sept. 4; Shaw Charity Classic, Canyon Meadows Golf & Country Club, Calgary; info/tickets

+ Sept. 12; TMX - 3rd Annual Golden Bull Charity Golf Classic, Valley Ridge Golf Club, Calgary; info/sponsor/register

+ Sept. 12; Sand Trapped, Charity Golf Classic, Miskanaw Golf Club, Mac Island, Fort McMurray; info/register

+ Sept. 13; The Kindness Open, Silver Tip Resort, Canmore; info/register/sponsor

+ Sept. 13; 7th Annual Gordon Hoffman Charity Golf Classic, Priddis Greens Golf & Country Club, Priddis; info/register


[send information on charity golf tournaments to:  kolke@facilitycalgary.com ]



  GLOSSARY 

+ 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

+ 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

+ 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

+ MT – metric ton

+ 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

+ RNG – renewal natural gas

+ 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

+ YYC – Calgary International Airport




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updated August 16, 2016




 TODAY'S HEADLINES


NEWS | Bellatrix sale to Keyera | Perisson purchases | Randstad Monster deal | Suncor UK investment + Cheryl Bernard interview | upcoming events, appointments, oil sands/heavy oil + climate change + infrastructure + REIT NEWS + financing$ + charity golf tournaments 




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 Cheryl Bernard Olympian Curler Silver Medalst and Broadcaster

Last week's conversation with Greg Pocherewny, Partner @ Odgers Berndston

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



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 sponsors of this week's issue:

CONTACT DAWSCO
 
COFFEE SERVICES



e-mail to Sharon Martens
 
INTERIOR DESIGN



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



CONTACT PIVOTAL
 
PROJECT MANAGEMENT



e-mail Lance Laliberte - Sales at PREMIERE OFFICE MOVERS
 
OFFICE MOVERS







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 SAVE THE DATE / upcoming events

+ Aug. 27; 12-stop Ride For Recovery Motorcycle Road Rally, Fresh Start Recovery; info/register/ride/donate

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

+ Sept. 6 - 9; World Heavy Oil Congress, Stampede Park, Calgary; info/registration

+ Sept. 8; Rea;REIT Conference, Metro Toronto Convention Centre, Toronto; info/register

+ Sept. 15; Merit Contractors Association – 30th Anniversary Gala, Edmonton; info/tickets

+ Sept. 20-22; BOMEX/BOMA Canada's National Conference & Exhibition, Regina; info/register

+ 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

+ Nov. 1-2; PetroChem Canada 2016, Shaw Conference Centre, Edmonton; info/register

+ Nov. 9-10; BUILDEX Calgary, BMO Centre, Stampede Park, Calgary; info/register/sponsor

+ Nov. 14-15; Platts 20th Annual Mexican Energy Conference, Mexico City; info/register

+ Nov. 29 - Dec. 1;  Real Estate Forum & Global Property Market, Metro Toronto Convention Centre; info/register

2017

+ Mar. 22-24/2017; Economic Developers Alberta Annual Conference 'Embracing Change; Creating Opportunity', Banff Centre, Banff; info/registration

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

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

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

+ 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 
 Aug. 9 ~ 16  


+ Bellatrix Exploration Ltd. closed the sale of its 35% interest in Alder Flats Plant to Keyera Partnership for $112.5 million; Keyera now holds 70% of the project

+ Chesapeake Energy Corp. is on the market to exit its Barnett shale fields, expecting to offload US$2 billion in deals

+ current energy prices – live link to Bloomberg energy prices; crude up [ WTI @ US$45+, Brent @ US$48+ … while supply gut persists on strength of two factors – believe OPEC is coming to its sense on reducing output and narrowing gap between production and consumption .. tic toc

+ FACILITYCalgary OP-ED page: newest article: ‘Alberta to Alaska Railway’ by Peter Wallis, Pres. @ The Van Horne Institute - click VIEWPOINT TAB

+ Gibson Energy Inc. turned aside an unsolicited takeover offer presented on behalf of an undisclosed party …

+ Morguard Corporation acquired an additional 2.23% of Morguard REIT to hold 52.5% of the REIT

+ Perisson Petroleum Corporation agreed to acquire a portfolio of west-central oil & gas assets; terms not disclosed

+ Perisson Petroleum Corporation agreed to acquire a portfolio of Ribstone and Success area assets from Forent Energy; terms not disclosed

+ Randstad Holdings NV agreed to acquire Monster Worldwide for $429 million

+ Stonehaven Exploration Ltd. is changing its name to Front Range Resources Ltd.

+ Suncor Energy UK Limited agreed to acquire 30% of the UK North Sea Rosebank project from OMV (UK) Limited’ US$50 million due on closing – may (there are partners) result in a further US$165 million investment going forward

+ Superior Plus Corp. closed the $428 million sale of its construction products division to Foundation Building Materials LLC

+ Veraz Petroleum Ltd. changed its name to AlkaLi3 Resources Inc.




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Allied Properties REIT is on the market to raise $200 million in equity

+ Bellatrix Exploration Ltd. closed $50 million unsecured sub. debt financing

+ Bellatrix Exploration Ltd. closed $30 million equity financing

+ Bell Canada is on the market to raise $1.5 billion in medium term debt

+ Brookfield Renewable Partners LP is on the market to raise $500 million in debt

+ Canadian Natural Resources Limited is on the market to raise $1.0 billion in medium term debt

+ CanWei Building Materials Group Ltd. is on the market to raise $69 million in equity

+ Ceiba Energy Services Inc. closed $150,000 convertible debt financing

+ Crown Point Energy Inc. is on the market to raise $8.225 million by a rights offering

+ Kontrol Energy Corp. is on the market to raise $300,000 by a common share & warrants issue

+ Pembina Pipeline Corporation closed $500 million sr. unsecured debt financing

+ Petrocapita Income Trust closed $9.036 million debt financing

+ Pine Cliff Energy Ltd. closed $30.0 million debt & warrants financing

+ Smart REIT is on the market to raise $350 million in sr. unsecured debt




 this week in REITS 


+ Allied Properties REIT is on the market to raise $200 million in equity

+ Dream Office REIT took a $675 million write-down relating to a decline in value of its Calgary assets

+ Morguard Corporation acquired an additional 2.23% of Morguard REIT to hold 52.5% of the REIT

+ Naomi Stefura to CFO @ Melcor REIT

+ Pure Multi-Family REIT LP agreed to acquired 368 unit project in Oak Park (Dallas), TX for US$71 million

+ Slate Retail REIT agreed to acquire 100 Eastpointe Shopping Center (Kroger anchored) in Morgantown, West Virginia for US$11.6 million

+ Smart REIT is on the market to raise $350 million in sr. unsecured debt




 INFRASTRUCTURE / P3  


+ Axium Infrastructure, Alberta Teachers' Retirement Fund Board and Manulife Financial Corporation acquired Samsung Renewable Energy's one-third interest in the K2 Wind Facility; K2 is a 270 MW wind power facility near Goderich, Ontario – 20 yr. contract selling power to Independent Electricity System Operator (IESO)

+ Hydro One Limited agreed to acquire 100% of Orillia Power Distribution Corporation for $41.3 million




INTERESTING REAL ESTATE NEWS, other places


+ Manulife sub. John Hancock Insurance acquired 185,000 sq. ft. , 3-tower office building in Boylston St.  project in Boston, Mass. for US$100.5 million

+ Mid-America Apartment Communities agreed to acquire Post Properties for US$3.9 billion; combined entity will have 105,000 multifamily units




CORPORATE RESPONSIBILITY REPORTING

+ Capital Power released its corporate responsibility report: Power Forward




 QUOTES

+ A happy childhood has spoiled many a promising life. – Robertson Davies

+ My best friend is the one who brings out the best in me. – Henry Ford




 KUDOS 

+  The Canadian Council for Aboriginal Business made Senator Murray Sinclair the recipient of its 2016 Award for Excellence in Aboriginal Relations; Senator Sinclair is being honoured for his distinguished record of public service and work leading the Truth and Reconciliation Commission of Canada.




 CLIMATE CHANGE / LEED / RENEWABLE ENERGY  

+ Government of Canada announced environmental and regulatory processes changing; decisions on major projects to be based on science, facts, and evidence, including traditional knowledge of Indigenous Peoples – to be based on new Terms of Reference for the Expert Panel




 SUGGESTIONS / COMMENTS:
 
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this site last updated May 6, 2025