+ European economy picking up, Bank of England considering policy change
+ Pivotal Projects have extended their sponsorship of FACILITYCalgary … many thanks for your continued support
+ radioactive leak from damaged Japan’s Fukushima nuclear plant created emergency condition
+ U.S. regulators seeking $29 million penalty from BP PLC for natural gas market manipulation which BP says are without merit; comes on the heels of $410 million fine levied last week against JP Morgan Chase
+ 68th anniversary of Hiroshima bombing
NEWS REVIEW July 30 - August 5
+ Accenture PLC in talks to acquire Booz & Co.
+ Alberta and BC Premiers indicated they will work together to expand oil & natural gas exports from west coast ports notwithstanding BC government’s on-record opposition; stay tuned . . .
+ Alberta Auditor General Saher reports southern Alberta flood damage will be well over $3 billion, no signs of how to pay for it . . .
+ Alberta natural gas selling at depressed prices – compared to Henry Hub prices; Alberta government concerned on further hit to royalty revenues
+ Alberta Securities commission levied fines and penalties against Dale St. Jean, Gregory Tindall, TransCap Corporation and Strata-Trade Corporation for fraud and securities trading irregularities
+ BP allocated a further $1.4 billion for Deepwater Horizon compensation in addition of the $19.7 billion already allocated to a compensation trust fund; meanwhile BP says it has evidence of frauds in the courts supervised settlements program
+ Canadian Natural Resources Limited commented on its bitumen surface leaks at Primrose operations; say leakage is coming up through failures of old well bores in the area; SAGD activity suspended while clean up activities are on-going
+ Chevron Canada Limited agreed to acquire all interests of Alta Energy Luxembourge et al in Duvernay shale formation; 67,900 net acres
+ Energy East – TransCanada’s east-west pipeline involving re-purposing natural gas pipeline to carry oil gaining traction; support from premiers across the country, Prime Minister Harper and the marketplace; budget is $12 billion. 4,400 km line will carry 1.1 million barrels of bitumen a day from Alberta to Irving Oil refinery in St. John, NB, for completion fall 2017
+ flood repairs in Calgary continue slowly amid trades labour shortages which are expected to be more acute as insurance claims are settled, and government support for uninsured and under-insured flood victims trickle along, it is going to be a long fall . . .
+ former Pres. @ High Plains Energy Inc., Ben Anderson, ordered arrested by Alberta Securities Commission; also fined and sanctioned for data and market manipulation
+ former Pres. & CEO @ Daylight Energy Ltd,, Anthony Lambert, settled insider trading allegations by Alberta Securities Commission; $100K penalty plus forfeit of profits
+ Genesis Land Development Corp.’s Shareholde Protection Rights Plan deferred by Toronto Stock Exchange pending shareholder approval
+ Genesis Land Development Corp. in press-release and circular filings in the hissing match with dissident shareholder Smoothwater Capital Corp.; seems the water isn’t so smooth . . .
+ H & R REIT announced it will internalize its property management function
+ HealthLease Properties REIT closed acquisition of US$77.6 million in U.S. properties and $69.7 million Alberta portofolio
+ Hess Corp. agreed to sell its energy marketing unit to Centrica PLC for $731 million
+ Horizon North Logistics Inc. entered into an agreement for another large camp contract; 180 person single rooms camp for a natural gas project in NE British Columbia
+ Hudson’s Bay Co.’s acquisition of Saks increase likelihood of a REIT structure to holds its owned real estate
+ Irving Oil and TransCanada Corporation announced a JV to develop a new Saint John, New Brunswick Marine Terminal; $300 million ‘Canaport Energy East Marine Terminal’ will be operated by Irving
+ Keyera Corp. and Kinder Morgan Energy Partners LP formed a JV to develop the Alberta Crude Terminal, a crude oil rail loading facility in Edmonton
+ LoneStar Geophysical formed a strategic alliance with Wireless Seismic to better resource northern Canada seismic acquisition this winter season
+ Madalena Ventures Inc. changed its name to Madlena Energy Inc.
+ Manulife Financial Corp. announced a new building for its Quincey’s site; 27 storey, 564.000 sq. ft. building will open in March 2017 – Brion Energy will be lead tenant
+ Pembina Pipeline Corporation entered into long-term agreement with NOVA Chemicals Corporation to continue and expand storage operations at Redwater; Pembina to invest $25 million to upsize cavern storage facilities
+ Montana Exploration Corp. agreed to acquired Waldron Energy Corporation; to form a junior E & P company
+ parts of the Calgary Zoo have reopened to the public
+ potash markets reeling – and Saskatchewan expected to take a major hit from Uralkali’s withdrawal from Russian potash cartel . . .
+ PRO REIT decided to delay its IPO
+ Schulmberge Ltd. acquired a Gushor Inc., a U of C lab-startup company; CEO Steve Larter staying on
+ Talisman Energy Inc. pressing on to sell $3 billion in assets this year; Norwegian North Sea assets on the block
+ Toscana Energy Income Corporation acquired Veredus Resources Ltd.
+ Alberta Infrastructure looking at 205 flood restoration projects; 40 wastewater and waterworks systems, 36 schools, 8 hospitals, 10 seniors facilities, 55 roads and highways. Repairs to Kananaskis golf courses are way way way down the list . . .
+ temporary school location for ElbowParkSchool on the site of Earl Grey Elementary in Mount Royal facing opposition from neighbourhood residents (really?) .. yes, really! C’mon folks, the kids didn’t cause the flood, so lets be better neighbours, eh!
+ the Government of Alberta pulled $13.2 million funding commitment for a film studio; now inviting proposals for building a film studio facility in the Calgary area; province will provide $5 million in support to winning proponent
INTERESTING REAL ESTATE NEWS OTHER PLACES
+ Granite REIT agreed to acquire 600,000 sq. ft. logistics/distribution facility in Cincinnati for US$ 21 million
+ Milestone Apartments REIT closed US$40.5 million acquisition of 358 unit multi-family project in Denver
+ Firm Capital Property Trust closed on its acquisition of 50% interest in Montreal industrial portfolio
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- this website is maintained and updated weekly - last updated September 19, 2023