FACILITYCalgary

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

FACILITYCalgary May 6/25

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

+ Alexander (Sandy) Struthers to Exec. VP Finance & CFO @ NAV Canada

+ Allen Hagerman to Director @ Tervita Corporation

+ Brian Sopp, CFOR @ Kellogg Brown & Root LLC, retiring

+ Cameron Kramer to Director @ Tervita Corporation

+ Cathy Orr to CEO @ RGO Office Products

+ Chris Synek to Director @ Tervita Corporation

+ Darby Allen, Fire Chief @ Regional Municipality of Wood Buffalo, retiring

+ Darren Woods to CEO @ Exxon Mobil Corp.

+ Doug Lagore to CEO @ Alberta Motor Vehicle Industry Council

+ Grant Billing to Director @ Tervita Corporation

+ Jamie Somerville to Exec. VP @ GrowMax Resources Corp.

+ Jane Peverett to Director @ Canadian Pacific

+ Jay Thornton to Director @ Tervita Corporation

+ Jeff Tooth to Pres. & CEO @ Harvest Operations Corp.

+ Jessica Uhl to CFO @ Royal Dutch Shell

+ John Heaney to Chief of Staff, Premier’s Office @ Government of Alberta

+ Jonathan Oestreich to Director @ WesternZagros Resources Ltd.

+ Joseph Quarin to Director @ Tervita Corporation

+ Julie Lloyd to Judge, Edmonton @ Provincial Court of Alberta

+ Kim Langille to CFO @ Clarke Inc.

+ Mark Sopp to CFO @ Kellogg Brown & Root LLC

+ Michal Holub to CFO @ Pennine Petroleum Corporation

+ Michele Collinson to Judge, Edmonton @ Provincial Court of Alberta

+ Nancy Arab to Partner @ National Public Relations

+ Michael Goehring to Partner @ National Public Relations

+ Neil Said to Vice Pres. @ Blue Sky Energy Inc.

+ Stephen Keith to Pres. @ GrowMax Resources Corp.


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




BOARDROOM changes, purges, appointments etc.

+ Aaron Regent to Director @ Plan International Canada

+ Edwin Nordholm, Director @ BIOX Corporation, resigned

+ Greg Woodring to Director @ Sun Life Financial Inc.

+ John Dowd, Director @ Information Services Corporation, resigned

+ John McGowan to Director @ Credit Union Deposit Guarantee Corporation

+ Krishna Vathyam, Director @ NXT Energy Solutions Inc., resigned

+ Stephanie Coyles to Director @ Sun Life Financial Inc.


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




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ Talla.com are replacing some HR functions with a BOT …

+ OpenCompany have a tool to get employee feedback that is worth checking out




 NEW TECH + TOOLS TO WATCH 

+ TinyLetter … imagine MailChimp had a baby …

+ Flipd … ‘time management/impose some self-control’ tool to control your phone use (for those just can’t put it down)

+ big whoop! … well, WHOOP is a new wearable fitness measuring tool that helps elite athletes and teams, and ‘athlete wannabe’s’ to improve performance … might work for employees performance at work too; measures strain, sleep and recovery. Not cheap, but at the value of longer/better life, perhaps an astute investment. Ever wonder that ‘home team advantage’ might just be that they get more sleep than the travelling team?




 SHAREHOLDER MEETINGS

+ Dec. 21; Crucible Resources Corporation, Special Meeting of Shareholders, Calgary

+ Jan. 11; Nav Canada; Annual Meeting, Ottawa

+ Jan. 19; BOMA Calgary, Annual General Meeting, Calgary

+ Feb. 28; Bayshore Petroleum Corp., Annual General Meeting, Calgary


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



  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

+ GJ – gigajoule

+ GLA – gross leasable area

+ GOA - Government of Alberta

+ GOM – Gulf of Mexico

+ GTA – greater Toronto area

+ 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

+ 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 Dec. 20, 2016




 TODAY'S HEADLINES


HEADLINES: Athabasca buys Statoil stake | Chemtrade’s Cannexxus bid success |crude up/steady/still | Enbridge/Spectra merger approved | Inter Pipeline closes acquisition | Koch shelves Muskwa SAGD project + Kent Brown interview | upcoming events, appointments, oil sands/heavy oil + climate change + infrastructure + REIT NEWS + financings




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 Kent Brown, Founder and Director @ BluEarth Renewables

Last week's conversation with Jochen Fahr, Pres./Founder of Brauerei Fahr 

A recent conversation with Abel Pagaling, Manager Analytics/Claims at Intact Insurance and publisher of Filipino Canadian Magazine

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



 QUOTES

+ I’m not afraid of death; I just don’t want to be there when it happens. – Woody Allen

+ To live is the rarest thing in the world. Most people exist, that is all. – Oscar Wilde




 KUDOS 

+ to that great Chinook wind that arrived on Sunday – a part of ‘global warming’ that show up every winter and reminds us all that southern Alberta is an awesome place to live, and that the weather (and sometimes the season) can change in an hour or so …




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OFFICE MOVERS



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INTERIOR DESIGN



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COMMERCIAL INTERIOR CONSTRUCTION



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RESIDENTIAL SALES



INTERESTING REAL ESTATE NEWS, other places


+ in Montreal – a $400.0 million mixed use redevelopment project is planned for the former Montreal Children’s Hospital site; Devimco Immobilier it the developer

+ Hunter Harrison, CEO over at Canadian Pacific has his Florida horse ranch on the market for US$45.0 million; quite the spread … but if you’d like something larger in size, smaller in price and closer to Calgary, call me!

+ OMERS sold a 50% interest in two London, UK office properties (Paternoster Square) for €239 million to Madison International Properties

+ Onex Corp. agreed to a acquire Parkdean Resorts in the U.K. for US$1.69 billion




 SAVE THE DATE / upcoming events

+ Jan. 27=29; IGNITE Design Competition; CSC sponsored student competition; SAIT & MRU; tickets/info

+ Feb. 7 - 9; ConvergX 2017 - Global Defence & Energy Conference; Calgary; info/register

+ 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 your event notices to:  kolke@facilitycalgary.com ]



 OIL SANDS + HEAVY OIL NEWS

+ Athabasca Oil Corporation agreed to acquire the Canadian thermal oil operations of Statoil ASA/Statoil Canada Ltd. for $582.0 million in a cash and shares deal

+ Koch Oil Sands Operating requested AER cancel its Muskwa SAGD permit – project will not go ahead

+ Pengrowth Energy Corporation agreed to sell a 4% royalty on its Lindbergh Thermal Assets for $250.0 million to PrairieSky Royalty Ltd.




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NEWS SUMMARY 
 Dec. 13 ~ 20 


+ AltaGas Ltd. struck a deal with GOA to settle their power purchase arrangement dispute

+ Athabasca Oil Corporation agreed to acquire the Canadian thermal oil operations of Statoil ASA/Statoil Canada Ltd. for $582.0 million in a cash and shares deal

+ Bank of Canada rate hike expected soon if U.S. Federal Reserve bumps rates ….

+ Canadian Natural Resources Limited announced its 2017 CapEx Budget is $3.9 billion

+ Cathedral Energy Services Inc. agreed to sell its Flowback and Production Testing division assets to Ideal Completions Group LLC for $17.8 million

+ Chemtrade Logistics Income Fund reached agreement to takeover Canexxus Corp.; enterprise value $900.0 million

+ current energy prices – live link to current Bloomberg energy prices; crude continues its upward trend – apparently immune to supply, rig count and currency fluctuations as production cutback (OPEC & non-OPEC) commitments appear genuine and lasting (fingers crossed!) adding to confidence for traders, though there is some ‘softening’ as traders close of their books for the year and unwind some positions … tic toc

+ DualEx Energy International Inc. is changing its name to Return Energy Inc.

+ Enbridge Inc. got shareholder approval for its merger with Spectra Energy Corp.; Spectra shareholders also approved the deal that represents a combined enterprise value of $165.0 billion

+ Essential Energy Services Ltd. closed its deal with Precision Drilling Corporation; coil tubing and pumping assets swapped for service rig business and cash

+ Gear Energy Ltd. announced its 2017 CapEx Budget is $45.0 million

+ Gran Tierra Energy Inc. announced its 2017 CapEx Budget is US$200.0 million

+ Inter Pipeline Ltd. closed its $527.5 million acquisition of CNRL’s interest in the Cold Lake Pipeline System to now hold 100%

+ Inter Pipeline Ltd. announced its 2017 CapEx Budget is $545.0 million

+ Koch Oil Sands Operating requested AER cancel its Muskwa SAGD permit – project will not go ahead

+ Lowe’s Canada announced they will convert 40 big-box RONA stores to Lowe’s in 2017

+ Mullen Group Ltd. announced its 2017 CapEx Budget is $25.09 million

+ Pengrowth Energy Corporation agreed to sell a 4% royalty on its Lindbergh Thermal Assets for $250.0 million to PrairieSky Royalty Ltd.

+ Raging River Exploration Inc. announced its 2017 CapEx Budget is $310.0 million

+ Steelhead Petroleum Ltd. agreed to acquire Toro Oil & Gas Ltd.

+ Strategic Group CEO Riaz Mamdani was shot in his car outside his home yesterday; his condition is reported as ‘not life threatening’

+ Surge Energy Inc. announced its 2017 CapEx Budget is $85.0 million

+ Tervita Corporation completed its recapitalization transaction

+ Tidewater Midstream and Infrastructure Ltd. agreed to acquire interest in Brazeau River Complex and nearby properties for $30.0 million

+ Torc Oil & Gast Ltd. announced its 2017 CapEx Budget is $130.0 million

+ Trump watch:  appointment of Rex Tillerson as Secretary of State and Rick Perry as Secretary of Energy bodes well for Canada/U.S. trade and pipelines …

+ Vermilion Energy Inc. closed its $46.2 million acquisition of a portfolio of producing properties in Germany




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Acceleware Ltd. closed $925,000.0 unsecured convertible debt financing by private placement

+ Boralex closed $74.3 million debt financing

+ Brookfield Business Partners L.P. is on the market to raise $514.0 million in equity

+ Cordy Oilfield Services Inc. closed $1,027,631.0 equity financing by private placement

+ Equitable Group Inc. closed $50.0 million equity financing by private placement

+ Firm Capital American Realty Partners Corp. closed US$10.0 million rights offering

+ GreenPower Motor Company Inc. closed $2.1 million in equity financing through exercise of warrants and options

+ Groundstar Resources Limited closed $117,500.0 flow-through shares financing

+ Industrial Alliance Insurance and Financial Services Inc. closed its $139,125,000.0 equity financing

+ Inter Pipeline Ltd. is on the market to raise $450.0 million in sr. unsecured debt

+ Mainstreet Health Investments Inc. closed US$45.0 million convertible unsecured sub. debt

+ Marquee Energy Ltd. is on market to raise $2.5 million by private placement of a flow-through shares issue

+ Mattamy Homes Limited closed $325.0 million sr. unsecured debt financing

+ Morguard North American Residential REIT is on the market to raise $60.0 million in equity

+ NorthWest Healthcare Properties REIT closed $70.0 million convertible debt financing

+ Petrocapita Income Trust closed $6,525,000.0 tranche of its secured convertible debt financing

+ Prairie Provident Resources Inc. closed $4.95 million flow-through share offering

+ Raging River Exploration Inc. secured $400.0 million credit facility

+ Savanna Energy Services Corp. closed its $200.0 million debt financing

+ Savanna Energy Services Corp. closed its $18.65 million equity financing

+ Savanna Energy Services Corp. closed a $21.68 million overallotment of its equity financing

+ Temple Hotels Inc. closed $14.7 million overallotment of its recent equity financing

+ Tidewater Midstream and Infrastructure Ltd. are on the market to raise $60.0 million in equity

+ Traverse Energy Ltd. closed $3.5 million equity financing by private placement




 CLIMATE CHANGE / LEED / RENEWABLE ENERGY  

+ AltaGas Ltd. struck a deal with GOA to settle their power purchase arrangement dispute




 INFRASTRUCTURE / P3  


+ CPPIB is investing $545.0 million to acquired half of a portfolio of New Zealand properties from PSP (Public Sector Pension Investment Board)

+ Yellowhead Trail in Edmonton will get safer and faster; conversion for expressway to freeway (no lights – yay!) is long overdue; $1.0 billion in financing to fix that was announced; $241.0 million from Federal and Provincial governments – City of Edmonton will fund the rest




 this week in REITS 


+ American Hotel Income Properties REIT agreed to acquire three Embassy Suites properties (782 rooms) in Ohio

+ Automotive Properties REIT agreed to acquire a Montreal West Island Mercedes-Benz dealership property for $20.3 million

+ Milestone Apartments REIT closed its US$242.0 million acquisition of apartments in Orlando (1,460 units, 6 buildings)

+ Morguard North American Residential REIT is on the market to raise $60.0 million in equity

+ NorthWest Healthcare Properties REIT closed $70.0 million convertible debt financing

+ Partners REIT agreed to sell Washington Park in Courtenay, BC to Choice Properties REIT for $12.8 million

+ PRO REIT closed its $21.8 million acquisition of four properties (Nova Scotia & PEI) from Crombie REIT

+ Pure Multi-Family REIT LP agreed to acquire a 276 unit project in Austin, TX for US$40.0 million




 CONSTRUCTION NEWS + INNOVATION 


+ Rolling Mix Concrete (Edmonton) Ltd. opened an advanced ready-mix concrete plant; sits on a 750,000 litre underground reservoir and recycles all water falling on or used at its 5.5 hectare site in a no-dust environment – pretty cool, and wet …




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this site last updated May 6, 2025