FACILITYCalgary

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

FACILITYCalgary May 6/25

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 QUOTES

+ In politics stupidity is not a handicap. – Napoleon Bonaparte

+ Pride, envy and avarice – these are the sparks that have set on fire the hearts of all men. – Dante Alighieri




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

+ Alain Miquelon, Pres. & CEO Montreal Exchange & Group Head, Derivatives @ TMX Group Limited, resigned

+ Aldo Flores-Quioroga to Deputy Energy Minister @ Government of Mexico

+ Cynthia Hansen to Pres, Gas Distribution and Power @ Enbridge Inc.

+ Darren Greer, Pres. International Operations @ High Arctic Energy Services, resigned

+ Don Lacey to VP Operations @ Plains Midstream Canada

+ Gerry Jobagy to Managing Dir., Calgary @ Humford Management Inc.

+ Gretchen Garrigues to Exec. VP and Global Chief Marketing Officer @ Manulife Financial Corporation

+ John McKinlay to CEO @ LaSalle Canada

+ Ken Lucianovich, VP Calgary Div. @ Humford Management Inc., left the company

+ Luc Fortin to Interim Pres. & CEO Montreal Exchanges @ TMX Group Limited

+ Mark Mazerolle to VP Pipelines & Supply @ Plains Midstream Canada

+ Matt Porter to Pres. & CEO @ Xtreme Drilling Corp.

+ Mel Hurtig, Publisher of the Canadian Encyclopedia and Founder of the Council of Canadians, died

+ Michael O’Rourke to Co-head, Trading @ Macquarie Capital Markets Canada Ltd.

+ Nidae Abbas to VP Global Retail Bus. Dev. @ Ivanhoé Cambridge 

+ Paul Maass to CEO @ The Scoular Company

+ Rod Davies to VP Sales, Canada @ TMP Worldwide

+ Scott Sill to Sr. VP Operations @ Plains Midstream Canada

+ Tom Wood, CEO @ Xtreme Drilling Corp. stepped down

+ Wayne Wisniewski to Pres. @ Eagle Energy Inc.

+ Zelick Altman, CEO @ LaSalle Canada, stepping down


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




BOARDROOM changes, purges, appointments etc.

+ John Curlander, Director @ Intermap Technologies Corporation, resigned

+ John Sherrington to Vice-Chair @ HomEquity Bank

+ Louise Tardif to Director @ Nav Canada

+ Patrick Blott to Chairman @ Intermap Technologies Corporation


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




 SHAREHOLDER MEETINGS

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

+ 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. 30; Antrim Energy Inc., Annual and Special Meeting of Shareholders, 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. 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 9, 2016




 TODAY'S HEADLINES


NEWS | Enbridge JV buying into Bakken pipeline | Enerplus boosts CapEx budget | GMP buying First Energy Capital | Ontario Teachers, TransCanada and Plains Midstream buys | Williams Cos. selling nat gas biz to Inter Pipeline for $1.35 billion + Greg Pocherewny interview | upcoming events, appointments, oil sands/heavy oil + climate change + infrastructure + REIT NEWS + financing$ + 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 Greg Pocherewny, Partner @ Odgers Berndston

Last week's conversation with Shannon Potter, Director of Leasing @ Morguard Investments Limited

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



 KUDOS 

+ to Enbridge and all those cyclists participating in the Enbridge Ride to Conquer Cancer this past weekend, raising $6.3 million for the Alberta Cancer Foundation




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 sponsors of this week's issue:

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



CONTACT PIVOTAL
 
PROJECT MANAGEMENT







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



 CLIMATE CHANGE / LEED / RENEWABLE ENERGY  

+ Enbridge Inc. won the auction for a reported 49.9% stake in EnBW Hohe See offshore wind power project; once completed the $2.9 billion project will generate enough power to service 560,000 homes … 




 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 
 Aug. 2 ~ 9  


+ Alberta unemployment: 8.6% last month, highest since September 1994

+ American Petrogas Inc. changed its name to GrowMax Resources Corp.

+ APA Group agreed to acquire Coast Hotels operations from Okabe Corporation for $210 million; includes brand, reservation system and management of 36 hotel properties

+ Bell Inc. agreed to acquire balance of Q9 Networks Inc. from its partners for $675 million; Bell currently holds 35.4%

+ BREXIT watch: Bank of England cut rates, as predicted, now 0.25%, lowest in 322 yr. history of the bank

+ Chevron Corp. reported marketing up to US$5 billion in Asian assets

+ Chinook Energy Inc. engaged advisors to start a strategic review process …

+ current energy prices – live link to Bloomberg energy prices; Asian prices weakening following North American prices up-tick yesterday (WTI @ US$42.80/bbl – Brent US$45.15/bbl) notwithstanding glut of crude supply on reports of wider margins for refiners and OPEC upcoming talks on curtailing production; also, substantial gas-fired power generation triggered a rare summer-time drawdown of natural gas storage  

+ Enbridge Energy Partners LP and Enbridge Inc. formed a JV with Marathon Petroleum Corporation agreed to acquire an interest in Bakken Pipeline for US$1.5 billion

+ Energy East Pipeline; TransCanada Corporation’s project – NEB hearings began in Saint John, NB

+ Enerplus Corporation increased its 2016 CapEx Budget by $15 million to $215 million

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

+ GMP Capital Inc. agreed to acquire FirstEnergy Capital Corp. for $98.3 million

+ Inter Pipeline Ltd. agreed to acquire the Canadian natural gas liquids business of Williams Cos. Inc. and Williams Partners LP for $1.35 billion; deal also includes plans for a ‘near approval’ pipeline and plans for a $1.85 billion propane plant in the works northeast of Edmonton

+ Irving Oil agreed to acquire the Whitegate refinery (Ireland’s only refinery) from Phillips 66; terms not disclosed

+ Marex Canada Limited teamed with UL to provide compliance certification on gas-fired equipment

+ Mosaic Capital Corporation acquired 80% of Mackow Industries for $29.5 million

+ Ontario Teachers’ Pension Plan, RedBird Capital Partners and Aethon Energy Management acquired J-W Energy’s oil & gas upstream and midstream assets in NE Texas and north Louisiana; terms not disclosed

+ Pine Cliff Energy Ltd. closed $5.5 million sale of a non-core asset

+ Quattro Exploration and Production Ltd. agrees to sell a portfolio of western Canadian oil & gas assets and facilities for $24.25 million

+ rig counts: U.S. rigs at 449; 123 in Canada, down from 133 last week

+ RMP Energy Inc. engaged advisors to conduct a strategic review of options to maximize value

+ Shell is selling its 1,200 person Carmon Creek camp facility; Ritchie Bros. Auctioneers are handling the sale

+ Spartan Energy Corp. closed its $24 million acquisition of SE Saskatchewan oil & liquids production assets

+ TransCanada Corporation in JV with Sierra Oil & Gas and Grupo TMM to develop US$800 million storage and refined products pipeline in central Mexico

+ TransCanada Pipelines Limited got conditional NEB approval for its Vaughan Mainline Expansion Project

+ Veresen Inc. announced it will pursue sale of its power generation business

+ Westcoast Energy Inc. closed the sale of its interest in Spectra Energy’s NGL business to Plains Midstream ULC for $267 million

+ Zenith Epigenetics Corp. completed a re-organization and name change; will now operate as Zenith Capital Corp.

+ Zaio Corporation acquired Value Veterans LLC in a cash and shares transaction




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Brookfield Infrastructure closed $250 million preferred equity financing  

+ CAP REIT closed $165 million equity financing

+ Clearview Resources Ltd. closed $5.0 million equity financing

+ Canacol Energy Ltd. closed $46,869,694 equity financing

+ Element Lifestyle Retirement Inc. closed $709,800 equity financing

+ Firm Capita Property Trust closed $6.3 million first tranche of an equity financing

+ First Capital Realty Inc. is on the market to raise $150 million in equity

+ Inter Pipeline Ltd. is on the market to raise $600 million in equity

+ Ivrnet Inc. closed $1.1 million debt financing

+ Margaux Resources Ltd. closed $283 million second tranche of an equity financing

+ Pembina Pipeline Corporation is on the market to raise $500 million in sr. unsecured debt

+ Pennine Petroleum Corporation closed $731,650 equity financing

+ Pine Cliff Energy Ltd. closed $11 million debt financing

+ Spartan Energy Corp. is on the market to raise $70 million in equity

+ Timbercreek Financial Corp. closed $5.8 million overallotment of its recent debt financing

+ Zaio Corpration closed $29,000 final tranche of its recent equity financing




 OIL SANDS AND 
HEAVY OIL NEWS 

+ Japan Canada Oil Sands Ltd. announced it will not re-start its Hangingstone thermal oilsands project (shut since May wildfires threatened the area) due to low crude prices; meanwhile construction on the $1.8 billion expansion portion of Hangingstone continues with completion expected by end of 2016 with production to start mid-2017

+ Shell is selling its 1,200 person Carmon Creek camp facility; Ritchie Bros. Auctioneers are handling the sale




 this week in REITS 


+ Allied Properties REIT agreed to acquire three Toronto properties for $101 million

+ CAP REIT closed $165 million equity financing

+ Pure Multi-Family REIT LP agreed to sell its Fairways at Prestonwood project in Dallas, TX for US$22.8 million 




 INFRASTRUCTURE / P3  


+ Seneca College and Infrastructure Ontario awarded a $70.9 million contract to EllisDon Corporation consortium to design, build and finance Sececa College’s King Campus Expansion; 200,000 sq. ft. LEED Gold project will include 25 new classrooms, labs and support areas, student union and athletic facilities




INTERESTING REAL ESTATE NEWS, other places


+ Fortis Property Group agreed to acquire 1.2 million sq. ft. JPMorgan Chase Tower in Dallas from Hines REIT for US$273 million

+ George Armoyan agreed to purchase the Halifax World Trade and Convention Centre from the Province of Nova Scotia for $13.5 million

+ Mainstreet Equity Corp. acquired 293 condo units in Saskatoon for $32 million; part of a $46 million transaction that included apartments in Edmonton and Abbotsford

+ Sienna Senior Living Inc. closed a $255 million portfolio acquisition; new and existing properties in B.C. and 50% interest in Pacific Seniors Management General Partnership

+ Vail Resorts agreed to merge with/acquire substantial control of Whistler Blackcomb; transaction value $1.39 billion




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this site last updated May 6, 2025