“The sky, unlike the price of oil, is not falling.” – Stephen Ewart

“The price of anything is the amount of life you exchange for it.” – Henry David Thoreau

+ Dec. 18; First Asset Pipes & Power Income Fund,  Special Unitholder Meeting, Toronto

+ Jan. 14; Nav Canada, Annual Meeting of Members, Ottawa

+ Apr. 23; CIBC, Annual General Meeting, Calgary

+ May 7; Lundin Petroleum AB, Annual General Meeting, Stockholm, Sweden

[send event notices to:  kolke@facilitycalgary.com ]

+ Alex Khein to Co-CEO, RBC Global Asset Management @ Royal Bank of Canada

+ Barry Lasker, Pres. & CEO @ Enhanced Oil Resources Inc., resigned

+ Bill Partridge, Pres. & Chief Staff Officer @ BOMA Calgary, retiring

+ Damon Williams Co-CEO, RBC Global Asset Management @ Royal Bank of Canada

+ Elias Diaze Sese to Pres., Tim Hortons brand @ Burger King Worldwide

+ Gordon Lennard, founder of Lennard Corporation, died

+ Hong Luo to Pres. & COO @ Sunshine Oilsands Ltd.

+ Ian Cunningham to COO @ Tangerine

+ John Maltalbano to Vice Chairman, RBC Wealth Management @ Royal Bank of Canada

+ Kathryn Langridge to Sr. Managing Dir., Head of Emerging Markets @ Manulife Asset Management

+ Lorna Rosen to Deputy Minister, Education @ Government of Alberta

+ Murray Noble to VP Construction @ Beedie Development Group

+ Perry Bellegarde to National Chief @ Assembly of First Nations

+ Philip Ehrmann to Sr. Managing Dir. & Sr. Portfolio Mgr. @ Manulife Asset Management

+ Steve Buratto to Interim Head Coach, Dinos football program @ University of Calgary

+ Steve Dongworth to Chief @ Calgary Fire Department

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

+ Al Denson to Director @ Enhanced Oil Resources Inc.

+ Ann Davis to Director @ Gluskin Sheff + Associates Inc.

+ Colin Loudon to Director @ NorthWest Healthcare Properties REIT

+ Daniel Lewis to Director @ Bellatrix Exploration Ltd.

+ Denis Tremblay to Director @ NAPEC Inc.

+ Dr. Ellis Armstrong, to Director @ InterOil Corporation

+ Grant Zawalsky to Director @ PrairieSky Royalty Ltd.

+ Hong Luo to Director @ Sunshine Oilsands Ltd.

+ Jim Carter to Director @ Irving Oil

+ Joan Dunne to Director @ Tundra Oil & Gas Limited

+ Margaret Byl to Director @ Pengrowth Energy Corporation

+ Margaret McKenzie to Director @ PrairieSky Royalty Ltd.

+ Michael Knowlton, Director @ NorthWest Healthcare Properties REIT resigned

+ Peter Meredith, Director @ Ivanhoe Energy Inc., resigned

+ Steven Pully to Director @ Bellatrix Exploration Ltd.

+ Susan Wolburgh Jenah to Director @ Laurentian Bank

+ Toos Daruvala to Director @ Royal Bank of Canada

+ in Edmonton .. Enbridge Inc. is moving; long term office leases in new Kelly Ramsey Tower (completion in 2016) and Manulife Place

+ Killam Properties Inc. closed $97.1 million in acquisitions in Ontario and Alberta; the Alberta acquisition is a 50% interest in Grid 5 Apartments (307 units); KingSett and Aimco own the other 50%

+ Manulife and Allianz formed a JV to invest $1 billion in U.S. real estate

+ Romspen Real Estate Investments closed its acquisition of Sturbridge Commons Apartments (360 units) in Montgomery, Alabama; US$36.8 million 

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December 16, 2014 issue

+ BP announced $1 billion restructuring plan worldwide; oilsands development plans on track; 50 staff laid off in Canada

+ Husky Energy commenced operations at the in situ Sunrise Energy Project

+ Pure Industrial Real Estate Trust acquired a 4 property portfolio (Edmonton, Calgary, Winnipeg & Toronto); 100% leased plus excess land – for $55 million

+ Summit Industrial Income REIT agreed to acquire 220,000 sq. ft. building in Mississauga; price is $22 million

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Apache sells Kimitat LNG stake for US$2.75 billion | Gordon Lennard died | oil prices at 5-yr. low | Prentice austerity measures | Repsol buying Talisman for $8.3 billion | year-end outlook | Hannes Kovac interview | upcoming events & corp. meetings | financings + executive appointments >>>>

+ Amec Foster Wheeler acquired Scopus Group; price not disclosed

+ Antrim Energy Inc. rejected the takeover offer made by Sound Oil plc

+ Apache Corp. agreed to sell its interest in the Kitimat LNG project to Woodside Petroleum Ltd.; sale, together with upstream oil & gas reserves was for US$2.75 billion

+ ATB Financial – THE OWL … Daily Economic Comment

+ Bankers Petroleum Ltd. announced its 2015 CapEx Budget is US$218 million

+ Baytex Energy Corp. announced its 2015 CapEx Budget is $575 million

+ Boralex Inc. agreed to acquire Enel Green Power France SAS for $400 million

+ BP announced $1 billion restructuring plan worldwide; oilsands development plans on track; 50 staff layed off in Canada

+ Burger King Worldwide acquired Tim Hortons; will be renamed Restaurant Brands International

+ Cathedral Energy Services Ltd. announced its 2015 CapEx Budget is $15 million

+ Cenovus Energy Inc. announced its 2015 CapEx Budget is $2.1 billion

+ ConocoPhillips announced its 2015 CapEx Budget is US$13.5 billion, down US$3 billion from 2014

+ Coral Hill Energy Ltd. agreed to be acquired by Aspenleaf Energy

+ current energy prices: live link to Bloomberg.com commodities data ; Brent at US$62/barrel, U.S. crude at US$57.81/barrel yesterday … yikes!

+ Gibson Energy Ltd. announced its 2015 CapEx Budget is $510 million

+ Gran Tierra Energy announced its 2015 CapEx Budget is $310 million

+ Holloway Lodging Corp. entered an agreement with Pacrim Hospitality Services Inc. to internalize all of its hotel management functions

+ Keyera Corp. agreed to acquire majority position in Ricinus deep-cut gas plan for $65 million

+ Killam Properties Inc. closed $97.1 million in acquisitions in Ontario and Alberta; the Alberta acquisition is a 50% interest in Grid 5 Apartments (307 units); KingSett and Aimco own the other 50%

+ Madalena Energy Inc. adopted an advance notice by-law

+ Madalena Energy Inc. announced its 2015 CapEx Budget is $48.2 million

+ Mark Kolke’s YEAR-END outlook on the Calgary real estate market

+ MCW Group of Companies is merging with/acquiring Hemisphere Engineering Inc.

+ Painted Pony Petroleum Ltd. announced its 2015 CapEx Budget is $295 million

+ Pet Smart sold for US$8.7 billion (1,387 stores in Canada and U.S.)

+ Premier Jim Prentice announced creation of Budget 2015 Committee (he will chair it) to take immediate measures for cost containment in light of predicted sharp drop in government revenue

+ Repsol SA’s $8.3 billion all cash takeover bid for Talisman Energy Inc. was accepted by Talisman’s board

+ RMP Energy Inc. announced its 2015 CapEx Budget is $150 million

+ Talisman Energy Inc. confirmed negotiations with Repsol and others are underway; no details released … tic toc

+ Technip dropped its US$ 1.82 billion takeover bid to acquire CGG

+ Tourmaline Oil Corp. revised its 2015 CapEx Budget is $1.4 billion, a reduction of $200 million from earlier announcement

+ Trican Well Service Ltd. announced its 2015 CapEx Budget is $39.2 million

+ Western Energy Services Corp. announced its 2015 CapEx Budget is $64 million

+ Zaio Corporation agreed to acquire Valuation Vision; $US$4.286 million in cash and stock transaction

+ Municipal Land Corporation acquired St. Louis Hotel from the City of Calgary; to be incorporated into east-village redevelopment program

+ National Arts Centre in Ottawa to undergo $110 million retrofit; to be ready for Canada’s 150^th anniversary in 2017

+ passenger terminal at Toronto’s Billy Bishop Airport is being sold by parent of Porter AIrlines; AIMCo and Macquarie Group reported to be keen to win the bidding …

+ Algonquin Power & Utilities Corp. closed $100 million equity financing

+ Artisan Energy Corporation is on the market to raise $4,050,000 in equity

+ Blackbird Energy Inc. closed $1.49 million final tranche of its equity financing

+ Boralex Inc. is on the market to raise $100 million in equity

+ CaiTerra International Energy Corporation is on the market to raise $5 million in equity

+ City Office REIT closed $46,875,000 equity financing

+ Donnycreeek Energy Inc. secured $25 million credit facility

+ Gaz Métro Inc. closed US$ 100 million sr. secured debt financing

+ Hemisphere Energy Corporation secured $15 million credit facility

+ Husky Energy Inc. closed $250 million preferred share issue

+ Keyera Corp. secured $1 billion credit facility

+ Quattro Exploration and Production Ltd. closed $1,008,000 equity financing

+ Trinidad Drilling Ltd. secured revised/increased revolving credit lines: C$200 million and US$100 million

+ Tuscany Energy Ltd. closed $1.0 million flow-through common share financing

+ Vantex Resources Ltd. closed $43,000 equity financing

+ Zaio Corporation closed $8.2 million equity financing