+ Craig Landry to Pres. Leisure Group @ Air Canada

+ Cynthia Watson to CEP @ VIVO

+ Danielle Leger to Corporate Controller @ CWC Energy Services Corp.

+ Gabby Franco to Advisor to Pres. @ Jiaming Investment Group

+ Greg Kopel to Sr. VP & General Counsel @ Sanchez Energy Corporation

+ Holder Kormann to Pres. @ ADP Canada

+ Jarrod Beztilney to VP Operations, Liquids Business Unit @ Keyera Corp.

+ Jean-Francoise Perrault to Sr. VP & Chief Economist @ Scotiabank

+ Karen Dilon, VP Finance & Controller @ CWC Energy Services Corp., resigned

+ Kerry Tompson to VP Human Resources Canada and Latin America @ SAS Canada

+ Kevin Barr to Of Counsel @ Borden Ladner Gervais LLP

+ Kevin Ladner to Exec. Partner & CEO @ Grant Thornton LLP

+ Layne Wilk, VP Operations @ CWC Energy Services Corp., retired

+ Qiping Men to CFO @ Sunshine Oilsands Ltd.

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

+ Craig Lothian, Director @ Lightstream Resources Ltd., resigned

+ Paul Beeston to Vice-Chair @ Gluskin Sheff & Associates Inc.

+ Thomas MacMillan to Chair @ Gluskin Sheff & Associates Inc.

+ Jan. 13-15/16; EPC Contract and Risk Management Conference, Houston; info/register

+ Jan. 23; PSAC STARS & SPURS Gala, BMO Centre, Stampede Park, Calgary

+ Feb. 26; BUILDEX Vancouver, Vancouver Convention Center, Vancouver

+ Mar. 3-4; Platts 5^th Annual North American Crude Summit, Hyatt Regency Galleria, Houston 

info/register

+ Mar. 15-16; Canadian School of Hydrocarbon Measurement, Telus Convention Centre, Calgary info ; registration

+ Dec. 29; Petromin Resources Ltd., Special and Annual General Meeting of Shareholders, Vancouver

+ Jan. 4; Rock Energy Inc., Special Meeting of Shareholders, Calgary

+ Jan. 6; TransAlta Renewables Inc., Special Meeting of Shareholders, Calgary

+ Jan. 11; Anderson Energy Inc., Meeting of Debentureholders, Calgary

+ Jan 13; Groundstar Resources Limited, Calgary

+ Jan 13; Nav Canada, Annual Meeting of Members, Ottawa

+ Jan. 14; BOMA Calgary, Annual General Meeting & Special Meeting of Members, Calgary

+ Jan. 27; Petrodorado Energy Ltd., Annual General and Special Meeting of Shareholders, Calgary

+ Feb, 11; Titanium Corporation Inc., Annual General and Special Meeting, Toronto

+ Mar. 8; Extendicare Inc., Special Meeting of Shareholders, Markham, ON

+ Every new begging comes from some other beginning’s end. – Seneca

+ If you do not change direction, you may end up where you are heading. – Lao Tzu

+ to former Encana Corp. boss and industry guru, Gwyn Morgan for his recent piece on ocean health – and why action on helping our oceans is more pressing the COP21’s climate change concerns. He doesn’t downplay global warming, but he puts a few things in perspective – well done!

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+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

+ COSIA - Canada's Oil Sands Innovation Alliance

+ CREB - Calgary Real Estate Board

+ EBITDA – earnings before interest, taxes, depreciation and amortization

+ FERC – U.S. Federal Energy Regulation Commission

+ GJ - gigajoule

+ GOA - Government of Alberta

+ GTA – greater Toronto area

+ IPO – Initial Public Offering

+ JV – Joint Venture

+ KV – kilovolt (one thousand volts)

+ KW – kilowatt (one thousand watts)

+ LEED – Leadership in Energy and Environmental Design

+ MCF – thousand cubic feet

+ MCF/D – thousand cubic feet per day

+ mezz – mezzanine debt

+ MOU – Memorandum of Understanding

+ 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

+ 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

+ 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

FACILITYCalgary
current week data

this  site is refreshed with a new issue every Tuesday morning

updated December 22, 2015

Alberta credit downgrade | Alberta Royalty System paper | CNRL completes royalty merger | FACILITYCalgary news/announcements | FED raises rates | Long Run Expl. being bought | Raimont completed merger | SHAW buying WIND  + Kate McKenzine interview | upcoming events & corp. meetings + climate change, infrastructure, oil sands, REIT news +  this week’s financings + executive and board appointments >>>>

+ American Hotel Income Properties REIT secured US$106 million credit facility

+ BTB REIT agreed to sell two commercial properties (Montreal and Laval) for $6.125 million

+ CAPREIT closed its $29 million acquisition of four apartment properties (169 suites) in Victoria

+ Edgefront REIT closed acquisition of two industrial properties (Prince George and Prince Albert) for $1.21 million

+ H & R REIT secured $500 million unsecured revolving credit facility

+ H & R REIT secured US$640 million construction financings for its Long Island City, NY residential project

+ InnVest REIT agreed to acquire the Ottawa Marriott Hotel for $115 million ($235K/room); going in cap-rate is 6.5%

+ Mohawk Medical Properties REICT acquired The Phénix Professional Building in Ottawa

+ RioCan REIT agreed to sell its U.S. portfolio (49 retail properties in NE U.S. and Texas) for US$1.9 billion

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+ Advantage Oil & Gas Ltd. announced its 2016 CapEx Budget is $120 million

+ Alberta’s credit got a downgrade from S&P; from AAA to AA+; Finance Minister Ceci says it won’t affect borrowing costs for the province. Opposition critics claim the reason is not the economy but rather the NDP’s strategy to capital-spend our way out of this down-cycle. Both are right. S&P is right. Bad as things are, they aren’t so great everywhere else either, with not much sunshine on the horizon …

+ Alberta land sale – last one of 2015 netted $12.57 million for the GOA

+ Alberta Royalty System .. how does it work? … The School of Public Policy at the U of C’s Sarah Dobson published a paper explaining it all …

+ ATB Owl Report – daily economist’s outlook

+ Bankers Petroleum Ltd. announced its 2016 CapEx Budget is US$65 million

+ Bonterra Energy Corp. announced its 2016 CapEx Budget is $40 million

+ Boulder Energy Ltd. announced its 2016 CapEx Budget is $26 million

+ BP PLC agreed to acquire all of Devon Energy’s natural gas assets in New Mexico; 480 wells

+ Canadian Natural Resources and PrairieSky Royalty Ltd. completed their royalty business combination

+ current energy prices – live link to Bloomberg energy prices ; Brent at 11-year low,

+ Earthstone Energy Inc. agreed to acquire Lynden Energy Corp.; all stock transaction

+ Enerplus Corporation closed $80 million sale of non-operated assets in North Dakota

+ FACILITYCalgary news – no issue next week; next issue January 5, 2016 – happy holidays to everyone!

+ FACILITYCalgary news – two new features coming in 2016: we’re working on a new ‘more device friendly’ e-mail format and a weekly (most weeks) op-ed feature called VIEWPOINT

+ Grosvenor Ltd. acquired the Sony site (14 Ave & 4 St. SW) for $8.25 million (26,000 sq. ft.) for mixed-use development

+ High Arctic Energy Services Inc. announced its 2016 CapEx Budget is $15.5 million

+ Inter Pipeline Ltd. announced its 2016 CapEx Budget is $250 million

+ Long Run Exploration Ltd. entered into a takeover arrangement with investors from China for $770 milliong

+ Martens-Group have renewed their sponsorship/support for FACILITYCalgary for another year – many thanks to Sharon Martens and everyone at Martens-Group

+ Mullen Group Ltd. announced its 2016 CapEx Budget is $25 million

+ Rock Energy Inc. engaged advisors to review and analyze strategic alternatives

+ Rosa Capital Inc., Raimount Energy Inc. and 1929281 Alberta Ltd. completed an amalgamation; will continue and operate as Raimount Energy Inc.

+ Russian announced it will sell 19.5% of OAO Rosneft in 2016, expected to generate US$9.8 billion

+ Shaw Communications Inc. agreed to acquire WIND Mobile Corp. for $1.6 billion

+ Striker Exploration Corp. closed $5.2 million sale of non-core assets

+ TransCanada Corporation amended its Energy East pipeline project; 700 routing changes and terminal will be in the Maritimes; revised budget is $15.7 billion

+ U.S. Federal Reserve raised interest rates ¼ of 1% (.0025), the first increase in ages, which produced a stock market bounce amid tepid optimism on the economy … tic toc …

+ Western Energy Services Corp. announced its 2016 CapEx Budget is $18 million

+ Yoho Resources Inc. closed $50 million sale of Duvernay/Kaybob assets

+ American Hotel Income Properties REIT secured US$106 million credit facility

+ Calfrac Well Services Ltd. is on the market to raise $27.5 million in debt

+ Emerald Bay Energy Inc. is on the market to raise $1.0 million in equity

+ Grande West Transportation Group Inc. closed $1,766,339 equity financing

+ H & R REIT secured $500 million unsecured revolving credit facility

+ Laurentian Bank of Canada closed $65 million equity financing

+ Legend Power Systems Inc. is on the market to raise $1.65 million in equity

+ Lonestar West Inc. closed $1.5 million debt financing

+ Manitok Energy Inc. is on the market to raise $20 million in equity

+ Marquee Energy Ltd. is on the market to raise $1.5 million in equity

+ OneRoof Energy Group Inc. closed US$1.5 million debt financing

+ Raging River Exploration Inc. closed its $126 million acquisition of Viking area assets from Anegada Energy Corp.; non cash deal … shares and assumption of debt

+ Relentless Resources Ltd. closed $900,000 equity financing

+ Royal Bank of Canada closed $675 million preferred share offering

+ Scotiabank completed a $350 million preferred share issue

+ SmartCool Systems Inc. closed $133,500 equity financing

+ Vital Energy Inc. is on the market to raise $2.5 million in convertible debt

+ Westcoast Energy Inc. closed $115,000,000 preferred share issue

+ Westcore Energy Ltd. is on the market to raise $600,000 in equity

+ Zaio Corporation secured a $4 million credit facility

+ Margaret Wente – she called the COP21 Paris Summit: a colossal waste of time; she makes a good argument. Many would disagree with her. I’m on the fence …tic toc …

+ Blackstone and Ivanhoe Cambridge closed on their US$5.45 billion acquisition of Peter Cooper Village Stuyvesant Town (11,200 apartments/56 buildings on 80 acres)

+ Hilton Worldwide Holdings is looking at converting to a REIT; 147 hotels, $10 billion … tic toc …

+ SpruceLand Properties Inc. agreed to sell 93% of its portfolio and its manufactured home communities in two transactions for $101.6 million

+ Qiping Men to CFO @ Sunshine Oilsands Ltd.

+ BC government released plans for 10-lane $3.5 billion/3.3 km. toll bridge that will replace the George Massey Tunnel; completion is targeted at 2022

+ Boralex Inc. agreed to acquire a 350MW portfolio of wind power projects in France

+ Infrastructure Ontario shortlisted five firms for its Brockville General Hospital redevelopment project