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FACILITYCalgary June28/22

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 QUOTES

+ A fool and his money are soon elected. – Will Rogers

+ Politics is the art of choosing between the disastrous and the unpalatable. – John Kenneth Galbraith




 KUDOS 

+ to this year’s inductees by CAPP in the Canadian Petroleum Hall of Fame: David Collyer, William Hunt, Greg Stringham, Brett Wilson, Albert Mayland, George Goruk




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

+ Carrie Jean Sharpe to Judge, Edmonton @ Provincial Court of Alberta

+ Carrie Kirkam, Pres. @ Sears Canada, fired

+ David Wyatt to VP Retail Leasing @ Morguard Investments Limited

+ Iain Stewart to Pres. @ National Research Council of Canada

+ Karen Gavan, Pres. & CEO @ Economical Insurance, retiring

+ Rob McLeod, Chief Development Officer @ Ritchie Bros., retiring

+ Rowan Saunders to Pres. & CEO @ Economical Insurance


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




BOARDROOM changes, purges, appointments etc.

+ Alan Archibald, Director @ Formation Fluid Management Inc., resigned

+ Charles Baillie, Director @ George Weston Limited, retiring

+ Christopher Burley to Vice-Chair @ WestJet Airlines Ltd.

+ Douglas Haughey to Chair @ Fortis Inc.

+ Jose Arata, Director @ CGX Energy Inc., resigned

+ Michael Galego to Director @ CGX Energy Inc.

+ Robert Sawyer to Director @ George Weston Limited

+ Trudy Curran to Director @ Baytex Energy Corp.


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




 SHAREHOLDER MEETINGS

+ Aug. 10; Twin Butte Energy Ltd., Annual and Special Meeting, Calgary

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

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


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



 CLIMATE CHANGE / LEED / RENEWABLE ENERGY  

+ Alberta Innovates Bio Solutions approved $13 million in funding (61 projects); grants are for the development of new industrial bioproducts or technologies using Alberta agriculture, forestry byproducts or other biomass




 CHARITY GOLF TOURNAMENTS 

+ Aug. 9-11; Priddis Greens Charity Classic, Priddis Greens Golf & Country Club, Priddis; 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. 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


FACILITYCalgary
current week data

this  site is refreshed with a new issue every Tuesday morning


updated August 2, 2016




 TODAY'S HEADLINES


NEWS | ASC new rules | Bank of Canada report | Birchcliff closes on Gordondale | Encana closed dispositions | Gear acquires Striker | rig counts up + Shannon Potter 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 Shannon Potter, Director of Leasing @ Morguard Investments Limited

Last week's conversation with Lorraine Card, Pres. & CEO @ Alberta Motor Transport Association

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



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 sponsors of this week's issue:

CONTACT PIVOTAL
 
PROJECT MANAGEMENT



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



CONTACT DAWSCO
 
COFFEE SERVICES



e-mail to Sharon Martens
 
INTERIOR DESIGN



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



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COMPANY HERE
 Advertising/sponsorship queries:  kolke@facilitycalgary.com 







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 SAVE THE DATE / upcoming events

+ 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. 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. 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 
 July 26 - Aug. 2  


+ ASC adopted new rules to govern capital raising and crowd-funding for start up businesses; Rule ASC 45-517 is now available for use; while MI 45-108 is in the ‘out for comment’ stage

+ Athabasca Oil Corporation is increasing its capital spend in its Greater Placid Montney play, from $47 million to $102 million

+ Bank of Canada published its quarterly Monetary Policy Report

+ Birchcliff Energy Ltd. closed its $625 million Gordondale assets acquisition

+ Blackbird Energy Inc. agreed to acquire 10% of Stage Completions Inc. for $3.0 million

+ Brexit watch: Lloyds Banking Group is cutting 3,000 jobs and closing 200 more branches, Bank of England is looking at interest rate cuts

+ Canadian Energy Services & Technology Corp. closed its acquisition of Catalyst Oilfield Services LLC

+ current energy prices – live link to Bloomberg energy prices; Brent & WTI continue to slump on a path to US$40/bbl; crude inventory building back up as refined product oversupply is working its way through the market, and OPEC output rose to 33.41 million barrels/day in July highest level in recent past as countries remain hungry for cash

+ Encana Corporation closed the sale of its Gordondale assets to Birchcliff Energy Ltd.

+ Encana Corporation closed the sale of its Denver Julesburg assets to Crestone Peak Resources

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

+ Gear Energy Ltd. and Striker Exploration Corp. got shareholder and court approval, and closed their combination arrangement; will operate as Gear Energy Ltd.

+ H2O Innovation Inc. completed its US$17.0 million acquisition of Utility Partners LLC

+ Lightstream Resources Ltd. worked out an arrangement agreement with its lenders for a recapitalization transaction; subject to court, shareholder and credit approval …

+ rig counts: U.S. count is 374, up for 5th week in a row; Canadian count up 17 this week to 119

+ SMART Technologies Inc. got shareholder and court approval for its Plan of Arrangement

+ Statoil agreed to acquire 66% interest in Santos basin field from Petrobras for US$2.5 billion

+ Stonehaven Exploration Ltd. closed its acquisition of Deventa Energy Inc. and 1974747 Alberta Ltd.

+ United Hunter Oil & Gas Corp. agreed to acquire a portfolio of solar energy assets from Due South Energy Limited; financial terms not disclosed




THIS WEEK IN FINANCINGS 
- proposed & closed

+ American Hotel Income Properties REIT LP closed $103.5 million equity financing

+ Bayshore Petroleum Corp. is on the market to raise $300,000 in equity

+ Black Diamond Group Limited closed $27.2 million equity financing

+ CN is on the market to raise US$650 million in debt

+ Crystal Creek Homes is on the market to raise $5.0 million in equity

+ Manitok Energy Inc. closed $1.5 million equity financing

+ Pure Multi-Family REIT LP closed $37.3 million equity financing

+ Questerre Energy Corporation closed $4.75 million flow-through shares financing

+ Seven Generations Energy Ltd. closed $748 million equity financing

+ Timbercreek Financial Corp. closed $40 million convertible debt financing

+ Toro Oil & Gas Ltd. closed $295,987 overallotment of its recent equity financing




 OIL SANDS AND 
HEAVY OIL NEWS 

+ Suncor Energy CEO Steve Williams announced Suncor is proposing to ‘strand’ some of its reserves, leaving the most difficult/emission causing portions of the resource in the ground to reduce Greenhouse Gases 




 this week in REITS 


+ American Hotel Income Properties REIT LP closed $103.5 million equity financing

+ CAP REIT closed the sale of 145 suite East Montreal building for $24.8 million

+ Edgefront REIT agreed to acquire 150,000 sq. ft. industrial property in Cambridge, ON for $8.4 million in a cash and units deal

+ Milestone Apartments REIT agreed to acquire its external asset manager, TMG Partners LP for $25 million and will internalize management using all the staff of TMG --- seems like an expensive way to do that …

+ Pure Multi-Family REIT LP closed $37.3 million equity financing

+  RioCan REIT , Allied Properties REIT and Diamondcorp agreed to sell the residential component of The Well project in Toronto to Tridel Builders Inc. and Woodbourne Canada Partners III (CA) LP for $180 million

+ Slate Retail REDIT agreed to acquire Taylorsville Town Centre (97% occupied, food anchored) in Salt Lake City, Utah market for US$14.45 million

+ True North Commercial REIT agreed to acquire 40,000 sq. ft. office property in Mississauga, ON for $10.5 million




 INFRASTRUCTURE / P3  


+ Government of Canada made some noise this week, delivering $109 million for community infrastructure projects in Alberta; $66,362,330 is earmarked for Calgary. This is the first of two installments, for the 2016-17 fiscal year for the federal Gas Tax Fund – yes, they tax us too much on fuel and then give some back so we’ll think they’re good guys. Alberta has received $1.8 billion since this program started in 2005. …




INTERESTING REAL ESTATE NEWS, other places


+ Coach Inc., the handbag maker, did a sale/20-yr. leaseback deal on its headquarters in New York; proceeds of US$707 million,

+ Hungerford Properties acquired Royal Alex Place in Edmonton; 44 res units and 3 floors of commercial space adjacent to the Royal Alexandra Hospital Campus

+  RioCan REIT , Allied Properties REIT and Diamondcorp agreed to sell the residential component of The Well project in Toronto to Tridel Builders Inc. and Woodbourne Canada Partners III (CA) LP for $180 million




CORPORATE RESPONSIBILITY REPORTING

+ Bentall Kennedy released its 2016 Simply Better Business report




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