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FACILITYCalgary June28/22

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Amy Bruyea to Sr. VP Human Resources @ Home Capital Group Inc.

+ Bill Moore to COO @ Compass Compression Services Ltd.

+ Bob Pease, Pres., Downstream @ Cenovus Energy US LLD, left the company

+ Chima Nkemdirim, Chief of Staff, Mayor's Office @ City of Calgary, resigned

+ Danielle Favreau to CFO @ Karnalyte Resources Inc.

+ Darren Fichter to COO Exploration and Production @ Canadian Natural Resources Limited

+ Drew Zieglgansberger to Exec. VP Upstream @ Cenovus Energy Ltd.

+ Frank Anderson to Exec. Chairman @ Network Media Group Inc.

+ Geri Greenall to Director @ Kelt Exploration Ltd.

+ Gino Digioacchino to Director @ Giant Tiger Stores Limited

+ Gordon Ritchie to Director @ Obsidian Energy Ltd.

+ Henri-Paul Rousseau, Vice-Chairman @ Power Corporation of Canada, retired

+ Ivor Ruste, CFO @ Cenovus Energy Ltd., retiring

+ Jacques Goulet to Pres. @ Sun Life Canada

+ Jason Kenny elected MLA @ Calgary-Lougheed

+ Jean-Francois Blais, Pres. @ Intact Insurance, retiring

+ Justice Richard Wagner to Chief Justice @ Supreme Court of Canada

+ Karen Crowshoe to Judge, Calgary Criminal @ Provincial Court of Alberta

+ Keith Cerny to General Director @ Calgary Opera

+ Keith Chiasoon to Sr. VP Downstream @ Cenovus Energy Ltd.

+ Kent Edney to VP Engineering @ Razor Energy Corp.

+ Kevin Dougherty to Exec. VP Innovation and Partnerships @ Sun Life Financial Inc.

+ Kieron McFadyen, Exec. VP & Pres., Upstream Oil & Gas @ Cenovus Energy Ltd., leaving the company

+ Louis Gagnon to Pres, Canadian Operations @ Intact Financial Corporation

+ Mac Logan, Transportation Manager @ City of Calgary, resigned

+ Mathieu Lamy to COO @ Intact Financial Corporation

+ Michael Thompson to Acting General Mgr. Transportation @ City of Calgary

+ Mike Forshee to Sr. VP Underwriting @ Home Capital Group Inc.

+ Scott Grobel to Sr. VP Elect @ Calgary Construction Association

+ Scott Stauth to COO Oil Sands @ Canadian Natural Resources Limited

+ Steve Laut to Exec. Vice-Chair @ Canadian Natural Resources Limited

+ Tim McKay to Pres. @ Canadian Natural Resources Limited

+ Victor DiRisio to Chief Information Officer @ Home Capital Group Inc.


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




 MEMORIAM

+ former CEO @ Canadian Pacific, Hunter Harrison, died




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ 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

+ CCS – Carbon Capture and Storage

+ 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

+ FSR – floor space ratio

+ FTC – U.S. Federal Trade Commission

+ GJ – gigajoule

+ GLA – gross leasable area

+ GOA - Government of Alberta

+ GOM – Gulf of Mexico

+ GTA – greater Toronto area

+ GW - gigawatt

+ G&A – general and administrative

+ HOOP – Healthcare of Ontario Pension Plan

+ 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

+ LPG – Liquefied Propane 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

+ OPEC – Organization of Petroleum Exporting Countries

+ 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

+ RFI – request for information

+ RFP – request for proposals

+ RFQ – request for qualifications

+ RICS – Royal Institution of Chartered Surveyors

+ RNG – renewal natural gas

+ SAGD – steam assisted gravity drainage

+ SAIT – Southern Alberta Institute of Technology

+ S & P – Standard & Poors

+ sub – subsidiary

+ sub. – subordinated

+ tic toc – we’ll see …

+ TOD – transit oriented development

+ UDI – Urban Development Institute

+ WTI – West Texas Intermediate crude benchmark price

+ WTO – World Trade Organization

+ YYC – YYC Calgary International Airport


FACILITYCalgary
current week data

this  site is refreshed with a new issue every Tuesday morning


updated December 19, 2017




 TODAY'S HEADLINES


HEADLINES: Agrium buy | Inter Pipeline project is a go | LaSalle launches fund | Whitecap closes purchase + Craig Tervit interview  + rig counts + upcoming events, appointments + climate change + infrastructure + REIT NEWS + financings 




CONVERSATIONS

This week's conversation with Craig Tervit, Wills & Estates lawyer @ The Last Word

Last week's conversation with Marissa Enage, U.S. Sr. Tax Manager @ Catalyst Group

A recent conversation with Tamer Basilious, Director, Operations/Project Management, Calgary @ WSP

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



PUT YOUR 
COMPANY HERE
 Advertising/sponsorship queries:  kolke@facilitycalgary.com 
SEE YOUR 
BRAND HERE



 sponsors of this week's issue:

e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



e-mail Norm Landry
 
PROJECT MANAGEMENT



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



CONTACT MARK KOLKE 
RESIDENTIAL SALES



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



e-mail to Sharon Martens
 
ARCHITECTURE + INTERIOR DESIGN



PUT YOUR 
COMPANY HERE
 Advertising/sponsorship queries:  kolke@facilitycalgary.com 
SEE YOUR 
BRAND HERE



 SAVE THE DATE / upcoming events

+ Mar. 21-23/2018; Economic Developers of Alberta; Annual Conference, Banff Centre, Banff

+ June 12-14; Global Petroleum Show, Stampede Park, Calgary; event guide


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



 SHAREHOLDER MEETINGS

+ Jan. 4; Mainstreet Health Investments Inc., Special Shareholder Meeting, Toronto

+ Jan. 24; Pure Technologies Ltd., Special Meeting/Approve Merger, Calgary


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



 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ Alterra Power Corp. shareholders approved of takeover bid by Innergex Renewable Energy Inc.

+ Government of Canada provided $22.0 million for seven Alberta clean energy innovation projects

+ Government of Canada established a 14-member Generation Energy Council to provide advice on ‘reliable, affordable, low-carbon economy in the future’; co-chairs are Merran Smith and Linda Coady




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NEWS SUMMARY 
 December 12 ~ 19 


+ Agrium Inc. agreed to acquire Australian fertilizer firm Macrofertil from Louis Dreyfus Co. for US$120.0 million

+ Altura Energy Inc. announced its 2018CapEx Budget is $15.0 million

+ Bellatrix Exploration Ltd. announced its 2018CapEx Budget is $65.0 million

+ Cardinal Energy Ltd. announced its 2018CapEx Budget is $132.0 million

+ Cenovus Energy Inc. announced its 2018CapEx Budget is $1.5 billion

+ Cenovus Energy Inc. announced plans for further 15% staff reductions (500-700 employees and contractors) and several sr. executive departures (see below)

+ current energy prices – live link to current Bloomberg energy prices; crude prices backed off from last week’s 2-yr high on concerns over increased U.S. output

+ CWC Energy Services Corp. announced its 2018CapEx Budget is $12.7 million

+ Enerplus Corporation announced its 2018CapEx Budget is $535.0 million

+ Gear Energy announced its 2018CapEx Budget is $58.0 million

+ Genesis Land Development Corp. & Limited Partnership Land Pool (2007) closed 319 acre Airdrie land sale for $41.0 million

+ Inter Pipeline Ltd. announced it will go forward with its $3.5 billion polypropylene facility at Fort Saskatchewan

+ LaSalle Investment Management launched its LaSalle Canada Property Fund; open-ended fund has been seeded with $440.0 million (a pension fund portfolio) and is seeking up to $310.0 million in additional investment

+ OMERS and Berkshire Partners agreed to sell Husky IMS International Ltd. to Platinum Equity for US$3.85 billion

+ Painted Pony Energy Ltd. announced its 2018CapEx Budget is $185.0 million

+ Petrus Resources Ltd. announced its 2018CapEx Budget is $25.0 million

+ Raging River Exploration Inc. announced its 2018CapEx Budget is $335.0 million

+ Razor Energy Corp. closed $4.6 million acquisition of a portfolio of Kaybob assets

+ rig counts: up 19 to 238 – see full breakdown

+  RBC published its RBC Economic Outlook; calls for slower growth in 2018 & 2019

+ TORC Oil & Gas Ltd. announced its 2018CapEx Budget is $165.0 million

+ U.S. rig counts: down 4 to 747

+ Whitecap Resources Inc. closed its $940.0 million acquisition of SE Saskatchewan assets




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Alimentation Couche-Tard Inc. closed US$900.0 million in sr. unsecured debt financings

+ Cathedral Energy Services Ltd. secured $20.0 million credit facility

+ Clarocity Corporation closed $1.2 million 2nd tranche of a debt financing

+ CWC Energy Services Corp. closed $26.0 million rights offering

+ K-Bro Linen Inc. closed $34,533,810.0 equity financing

+ Kinder Morgan Canada Limited closed $250.0 million preferred share financing

+ Marksmen Energy Inc. is on the market to raise $450,000.0 in equity by private placement

+ Sterling Resources Ltd. and PetroTal Ltd. Closed US$34.0 million equity financing by private placement

+ Summit Industrial Income REIT closed $103.5 million equity financing

+ Tidewater Midstream and Infrastructure Ltd. is on the market to raise $125.0 million in sr. unsecured debt

+ Tricon Capital Group Inc. is on the market to raise $365.0 million in debt securitization




 QUOTES

+ If you can’t feed a hundred people, then feed just one. – Mother Teresa

+ Don’t follow your dreams, chase them! – Richard Dumbrill




 CORPORATE RESPONSIBILITY REPORTS 

+ Bellatrix Exploration Ltd. released its Annual Corporate Responsibility Report




 this week in REITS 


+ Automotive Properties REIT closed its $8.0 million acquisition of a Montreal Mazda dealership

+ Boardwalk REIT agreed to sell a Regina portfolio (641 units) of non-core assets to Mainstreet Equity Corporation for $71.65 million ($120k/door)

+ Cominar REIT agreed to sell all its non-core properties to Slate Acquisitions Inc. for $1.14 billion [97 properties, 6.2 million sq. ft.]

+ CT REIT closed its acquisition of five properties from RioCan REIT for $135.0 million

+ Plaza Retail REIT agreed to sell 50% interest in eight properties for $17.3 million

+ Plaza Retail REIT closed its sale of 50% interest in a Saguenay, QB property for $3.25 million

+ Pure Industrial REIT announced US$109.5 million in U.S. acquisitions, $32.5 million Montreal acquisition and $22.7 million in Canadian dispositions

+ Summit Industrial Income REIT closed $103.5 million equity financing

+ True North Commercial REIT agreed to acquire Class A office building in Burlington, ON for $22.75 million; 78,800 sq. ft. building 




 INFRASTRUCTURE / P3  


+ Capital Regional District named its preferred proponent (Maple Reinders consortium) for a Residuals Treatment Facility to be built at Saanich, BC; 20-yer design, build, finance, own, manage …




 CONSTRUCTION NEWS + INNOVATION 

+ Halifax convention centre finally opens; $169.2 million/1.0 million sq. ft. project




 INTERESTING TRENDS IN INDUSTRIAL REAL ESTATE 


+ Iron Mountain agreed to acquire Phoenix based IO Data Centers LLC for US$1.3 billion




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