+ Jan. 12; Glentel Inc., Security Holders Meeting to approve merger, Burnaby

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

+ Feb. 10; Vicwest Inc., Debenture Holders Meeting, Toronto

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

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

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

+ Bart Cahir to Sr. VP Upstream @ Imperial Oil Limited

+ Bob Bentall, former CEO of family owned Bentall firm which morphed into what is now Bentall Kennedy, died

+ Chris Van Kooten to Sr. VP & Chief Underwriting Officer @ Economical Insurance

+ Charles Guay to Pres. & CEO Manulife Quebec @ Manulife Financial Corporation

+ Danielle Smith, Leader @ Wildrose Party of Alberta, stepped down

+ Dick Patton to Leader Global Practice @ Egon Zehnder

+ Dr. Konstantion Ghertsos to Director @ Enhanced Oil Resources Inc.

+ Fernando Assing to Pres. & CEO @ Tesco Corporation

+ Glenn Scott to VP Advisory & Support Team, International Ventures @ XTO Energy Inc.

+ Gregg Dunn to Pres. & CEO @ Mass Group of Insurance Brokerages

+ Heather Forsyth to Interim Party Leader @ Wild Rose Party of Alberta

+ John Waldron to Co-Head, Investment Banking @ Goldman Sachs

+ Julio Quintana, Pres. & CEO @ Tesco Corporation, resigned

+ Mary Beth Alexander to VP Corp. Communications & Public Relations @ Economical Insurance

+ Michael Shostak to Sr. VP & Chief Marketing Officer @ Economical Insurance

+ Paul Vaillancourt to Exec. VP Private Wealth @ Fiera Capital Corporation

+ Rory Finlay to US Consumer Pratices Leader @ Egon Zehnder

+ Scot Caithness to Leasing Manager – North America @ WorleyParsons

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

+ Anthony Milewski, Director @ Valparaiso Energy Inc., resigned

+ Barbara Stymiest to Chair @ Canadian Institute for Advanced Research

+ Brent Chapman to Pres. & CEO @ Dream Industrial REIT

+ Brian Booth to Chairman @ Claude Resources Inc.

+ Brian Shaw, Director @ PrairieSky Royalty Ltd., resigned

+ Bruce Waterman, Director @ PrairieSky Royalty Ltd., resigned

+ Colin SOards, Pres. & CEO @ High North Resources Ltd., resigned

+ Douglas Kroetsch to National Chair @ Collins Barrow National

+ Eleanor Barker to Director @ Sterling Resources Ltd.

+ Fernando Assing to Director @ Tesco Corporation

+ Jacques Joly, Director & Chairman @ NAPEC Inc., resigned

+ Karen Kinsley to Director @ National Bank of Canada

+ Katherine Hirschfield to Director @ InterOil Corporation

+ Matthew Andrade to Director @ MATRRIX Energy Technologies Inc.

+ Paul Starnino to Pres. & CEO @ High North Resources Ltd.

+ Peter Henry, Director @ Shoreline Energy Corp., resigned

+ Raymond Bachand to Director @ National Bank of Canada

+ Sian Matthews to Chair @ Canada Post Corporation

+ Srinivas Polishetty to Director @ Enhanced Oil Resources Inc.

+ Stephen McLennan to VP Natural Resources @ Ontario Teachers’ Pension Plan

+ Tim Heavenor to CFO @ Graham Construction Group

+ Boralex Inc. closed its acquisition of Enel Green Power France SAS

+ Calgary’s new Cancer Centre project to be delayed – as will many other Alberta Government funded projects as 2015 deficit predictions caused Premier Prentice and his Ministers to study/delay/postpone everything they can until provincial coffers stabilize

+ contract award: for Joseph Brant Hospital $353.6 million redevelopment, to EllisDon Infrastructure JBH Inc.

+ contract process moving along: for St. Thomas Elgin General Hospital redevelopment; 4 firms short-listed

+ contract process moving along: for Patient Care Tower, Penticton Regional Hospital; 3 groups short-listed

+ Hyro-Quebec Distribution announced winners in its tender call for purchase of 450-megawatts of wind power

+ Ontario Teachers’ Pension Plan acquired 19.25% of Birmingham Airport, to now control 48.25%

+ Ontario Teachers’ Pension Plan and Public Sector Pension Investment Board formed 3-way JV with Banco Santander S.A. to acquire US$2.0 billion portfolio of renewable energy and water infrastructure assets

+ Surrey BC chose a lead proponent – Iris Solutions – to design, build, partially finance, maintain and operated the Surrey Biofuels Processing Facility

+ TransCanada Corporation acquired Liskeard 1, a 10-megawatt solar power generating facility from Canadian Solar Solutions Inc.; plant is producing power into the Ontario Power Authority grid

+ Alimentation Couche-Tard Inc. agreed to a merger; acquiring The Pantry Inc., 1,512 location convenience store chain in SE United States for US$1.7 billion

+ InterContinental Hotels Group agreed to acquire Kimpton Hotels and Restaurants for $430 million

+ Mattamy Homes agreed to acquire Monarch Corporation from Taylor Morrison Home Corporation for $330 million

+ 8 Canada Square in London (think Gherkin .. HQ for HSBC) has sold; price not disclosed, The Quatar Investment Authority bought it from National Pension Service of Korea who are reported to have creamed a huge gain on the sale …

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December 30, 2014 issue

HAPPY NEW YEAR!

“Every time you tear a leaf off a calendar, you present a new place for new ideas and progress.” – Charles Kettering

“The best and most beautiful things in the world canned be seen or even touched – they must be felt with the heart.” – Helen Keller

+ Civea Corp., an oilsands camp operator, is laying off 2/3rds of its staff in Canada; closed two of its facilities near Fort McMurray

+ CNRL have stopped pumping at their Wolf Lake SAGD project near Cold Lake due to regulator’s ruling; investigating how benzene has reached an aquifer

+ Brent Chapman to Pres. & CEO @ Dream Industrial REIT

+ FAM REIT closed a $190 million, seven-property GTA suburban office transaction from Slate GTA Suburban Office Inc.; hard to figure out the shuffle. Slate Asset Management LP (sub. Of Huntingdon Capital Corp.) will manage the portfolio, I think … hard to discern from their press release

+ Granite REIT closed US$68.75 million acquisition of three properties from Ingram Micro subsidiaries; two distribution facilities plus expansion land, Plainfield, Indiana

+ Nobel REIT closed $7.5 million final tranche of its recent equity financing

+ Nobel REIT closed acquisition of two industrial properties in Montreal for $10,650,000

+ Pure Multi-Family REIT LP closed the sale of Windscape Apartments (154 units) in Grande Prairie, TX for US$10.5 million

+ Slate Retail REIT closed $50 million debt financing

+ Slate Retail REIT secured $450 million credit facility

+ Slate Retail REIT agreed to acquire a food-anchored centre if DeKalb, Illinois for US$18.6 million

+ Slate Retail REIT agreed to acquire a food-anchored centre in Myrtle Beach, South Carolina for US$5.5 million

+ True North Commercial REIT closed $27.3 million equity financing

+ True North Commercial REIT closed $22.6 million acquisition of office building in Pickering, ON

+ True North Commercial REIT closed $60.8 million acquisition of 10 office buildings located in Ontario secondary markets

+ Government of Alberta extended 4 climate change regulations to the end of June/2015 to ‘allow time for the continued thorough analysis of options’  

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crude dipped under US$54/barrel | asset sales & mergers | Russia & Greece trouble$ | Veresen in new $5 billion partnership | many significant CapEx Budget announcements & reductions | Happy New Year | Leann Hackman-Carty interview | upcoming events & corp. meetings | financings + executive appointments >>>>

+ Alstom SA pled guilty to U.S. charges in bribery scandal; fined US$ 772 million

+ Argent Energy Trust announced its 2015 CapEx Budget is US$19.5 million, down US$20 million from earlier announcement

+ ATB Financial – THE OWL … Daily Economic Comment

+ BCE Inc. and Rogers Communication Inc. formed a JV for acquisition of GLENTEL Inc. (494 Canadian locations); each firm to own 50%. Rogers has withdrawn its court application to block the sale of Glentel to BCE

+ Bellatrix Exploration Ltd. announced its 2015 CapEx Budget is $300 million, down from $400 million

+ Bonavista Energy Corporation announced its 2015 CapEx Budget is $375 million, down from $525 million

+ Brookfield Asset Management increased its big for 30% of Brookfield Residential it doesn’t already own; offer values company at US$2.84 billion

+ Chevron Corp. put its plan for drilling in the Beaufort Sea on hold due to slide in oil prices

+ Chinook Energy Inc. closed the sale of its Gilby area assets for $30.8 million

+ Civea Corp., an oilsands camp operator, is laying off 2/3rds of its staff in Canada; closed two of its facilities near Fort McMurray

+ Contact Exploration Inc. and Donnycreek Energy Inc. completed their merger; now operating as Kicking Horse Energy Inc.

+ current energy prices: live link to Bloomberg.com commodities data US crude below US$54/barrel, Brent at US$57/barrel; Saudi led market over-supply and price drop for crude oil continues – so far it looks like U.S. economy is benefiting most while Canadian industry and stock markets, because we are so energy dependent have a bleaker outlook going into 2015; Russia and Venezuela hurting too. Meanwhile, Saudi Finance Ministry is facing a US$39 billion deficit … tic toc

+ Dixie Energy Trust closed its US$47.5 million asset sale to Gulf Pine Energy Partners LP; Dixie Energy Trust to be wound-up

+ Eagle Energy Trust closed $100 million acquisition of working interests in Montney assets

+ Encana Corporation announced its 2015 CapEx Budget is $2.7 billion

+ Enerplus Corporation announced its 2015 CapEx Budget is $635 million, down $195 million from 2014

+ Greek economy in trouble again/still; failure to elect president, resistance to EU, ECB and IMF austerity measures – triggered elections Jan. 25, no solution in sight … tic toc

+ Halliburton’s CEO says planning on restructuring or layoffs due to market conditions, not due to Baker Hughes acquisition

+ High Arctic Energy Services Inc. announced its 2015 CapEx Budget is $36 million

+ Horizon North Logistics Inc. announced its 2015 CapEx Budget is $25 million

+ Husky Energy Inc. announced its 2015 CapEx Budget is $3.4 billion

+ Journey Energy Inc. announced its 2015 CapEx Budget is $70 million, down from $90 million

+ Keyera Corp. agreed to acquire 60% interest in Zeta Creek gas plant being constructed by Velvet Energy; Keyera to operate the plant

+ Legacy Oil + Gas Inc. announced its 2015 CapEx Budget is $238 million, down 40% over last year

+ Mattamy Homes Ltd. agreed to acquire Monarch Corp. for $330 million

+ MEG Energy announced its 2015 CapEx Budget is $305 million, down from $1.2 billion announced earlier

+ Mexx is liquidating and closing all of its 95 retail stores across Canada (6 in Calgary) ; filed intention to Make a Proposal under the Bankruptcy Insolvency Act

+ Morgan Stanley deal to acquire oil trading and storage assets from OAO Rosneft terminated over Russian sanctions; Macquarie Group Ltd. reported eager to acquire those assets

+ Newalta Corp. agreed to sell its industrial division (950 employees) for $300 million to Birch Hill Equity Partners

+ New Brunswick’s government introduced a moratorium on hydraulic fracturing due to health, environmental, technical and First Nations concerns

+ Niko Resources Ltd. engaged advisors to pursue strategic alternatives

+ Northern Blizzard Resources Inc. announced its 2015 CapEx Budget is $130 million, down from $215 million

+ Pacific Rubiales Energy Corp agreed to sell 43% of Pacific Midstream Ltd. to International Financial Corporation for US$320 million

+ Penn West Petroleum Ltd. announced its 2015 CapEx Budget is $625 million, down from $840 million

+ Petrobras facing technical default on bode debt payments amid corruption scanda

+ PrairieSky Royalty Ltd. closed its acquisition of Range Royalty LP

+ Repsol SA’s takeover of Talisman Energy has been reported at US$8.3 billion and at US$13 billion; both are accurate – the larger figure includes Talisman debt being assumed by Repsol in its all-cash takeover bid … and now you know

+ Royal Dutch Shell agreed to sell its Norwegian downstream business to ST1 for an undisclosed sum; they will handle Norwegian aviation business as a 50-50 joint venture

+ Russian GDP shrinks, economy in trouble due to sanctions, low oil price, high interest rates and devalued Ruble .. tic toc

+ Spyglass Resources Corp. closed $100 million sale of Montney assets

+ Statoil agreed to sell its non-operated Marcellus assets to Southwestern Energy for $394 million

+ Superior Coring Systems Inc. has gone into bankruptcy proceedings

+ TORC Oil & Gas Ltd. announced its 2015 CapEx Budget is $125 million

+ Toro Oil & Gas Ltd. closed $25 million acquisition of Viking light crude assets

+ Twin Butte Energy Ltd. announced its 2015 CapEx Budget is $120 million, down $40 million

+ Veresen Inc. formed Veresen Midstream LP together with KKR to undertake $5 billion midstream expansion for Encana and Cutbank Ridge Partnership and 30-yr supply deal; Encana Corp. selling $412 million in assets into the venture

+ Whitecap Resources Inc. announced its 2015 CapEx Budget is $245 million, down from $360 million this year

+ Zargon Oil & Gas Ltd. closed $22.5 million sale of its Hamilton Lake property sale

+ Zargon Oil & Gas Ltd. announced its 2015 CapEx Budget is $46 million, down from $32 million

+ Annapolis Capital Limited closed $300 million equity financing

+ Artisan Energy closed $5.4 million flow-through financing

+ Boralex Inc. closed $257 million long-term debt financing

+ Boralex Inc. closed $10 million equity financing

+ CaiTerra International Energy Corporation closed $75,000 tranche of its flow-through offering

+ CIBC closed $300 million preferred share issue

+ CMLS Financial closed $283.7 million CMBS pool conduit transaction

+ Delphi Energy Corp. secured $190 million credit facility

+ Intermap Technologies Corporation closed US$500,000 convertible debt financing

+ MATRRIX Energy Technologies Inc. secured $5 million credit facility

+ Mira VI Acquisition Corp. closed $250,000 IPO

+ Nobel REIT closed $7.5 million final tranche of its recent equity financing

+ Northern Spirit Resources Inc. closed $925,000 flow-through offering

+ REALnorth Opportunities Fund is on the market to raise $28 million by IPO

+ Relentless Resources Ltd. closed $500,000 tranche of its flow-through equity financing

+ Sasol Limited secured US$4 billion credit facility

+ Slate Retail REIT closed $50 million debt financing

+ Slate Retail REIT secured $450 million credit facility

+ Stonehaven Exploration Ltd. closed $3.4 million in a flow-through offering

+ Timbercreek Senior Mortgage Investment Corporation secured $190 million credit facility

+ Toro Oil & Gas Ltd. closed $5.8 million equity financing

+ Toro Oil & Gas is on the market to raise $20 million in equity

+ True North Commercial REIT closed $27.3 million equity financing

+ Western Energy Services Corp. secured $195 million in credit facilities