FACILITYCalgary

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

FACILITYCalgary May 6/25

ARCHIVED ISSUES

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

+ Bill Cromb to Interim CFO @ Zargon Oil & Gas Ltd.

+ Brian Rex to VP Geoscience & Exploration @ Tundra Oil & Gas Limited

+ Cheryl Doherty, CEO @ Boys & Girls Clubs of Calgary, retireded

+ Cora Pettipas to Pres. @ National Exempt Market Association

+ Dale Orton to Vice Pres. @ Cardinal Energy Ltd.

+ Dori Segal to CEO @ Gazit-Globe

+ Gregory Cochrane to Pres. @ DATA Communications Management

+ Howard Schultz, CEO @ Starbucks, stepping down

+ Jane Mactaggart to Sr. VP @ Tundra Oil & Gas Limited

+ Jeff Dyer to CEO @ Boys & Girls Clubs of Calgary

+ Jo Taylor to Sr. Managing Director, International @ Ontario Teachers’ Pension Plan

+ Jonathan Hausman to Managing Dir. & Head of Global Strategic Relationships @ Ontario Teachers’ Pension Plan

+ Lee Crowchild to Chief @ Tsuu t’ina First Nation

+ Richard Patenaude to National Logistics Director @ Congebec

+ Rob Wesseling to Pres. & CEO @ The Co-operators Group Limited

+ Sami Kadri to Manager, Network Resources @ TELUS

+ Shave Sabatino to Pres. @ TELUS Sourcing Solutions

+ Stavros Daskos to CEO @ Encanto Potash Corp.

+ Suraj Sharma to VP Reservoir Dev. @ Tundra Oil & Gas Limited

+ Tracie Noble to Interim CFO @ Big Rock Brewery Inc.


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




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ business lunch bookings, for me, have never been easier/better than since I started using OpenTable; easy to book/change/cancel without calling the restaurant when they are busy or when they aren’t open – and they’ve just published their 100 Best Restaurants in Canada for 2016 [12 are in Calgary!], a great traveler’s guide

+ the Human Resources Professionals Association say: Companies Are Failing To Integrate Millennials Into Their Workplaces – check out their report




 NEW TECH + TOOLS TO WATCH 

+ Amazon.com opened a store in Seattle that may change shopping/retailing practices in the grocery sector: Amazon Go is an 1,800 sq. ft. concept store (yes, real bricks and mortar) that uses sensors to detect what shoppers took off the shelf and bills it to their Amazon account if they don’t put it back – so, no line ups, no cashiers ….. vewwwy vewwwy interwwesting ..

+ Best Productivity Apps for 2106 from PC Magazine

+ INSCAPE.net – guided meditation app for your phone

+ WORDCOUNTER.net – what every submitter, blogger, column writer and newsletter write needs




BOARDROOM changes, purges, appointments etc.

+ Claude Mongeau to Director @ Cenovus Energy Inc.

+ Dr. Easton Wren, Director @ GrowMax Resources Corp., retired

+ Gordon Ritchie, Director @ Gemini Corporation, resigned

+ Ian Macqueen, Director @ Sintana Energy Inc. resigned

+ John McVey to Director @ Gemini Corporation


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




 SHAREHOLDER MEETINGS

+ Dec. 7; Jasper Mining Corporation, Annual General Meeting, Calgary

+ Dec. 9; Terra Energy Corp., First Meeting of Creditors, Calgary

+ Dec. 12; Chinook Energy Inc., Special Meeting of Shareholders, Calgary

+ Dec. 15; Enbridge Inc., Special Meeting of Shareholders – Spectra Energy Combination, Calgary

+ Dec. 15; Resverlogix Corp., Annual and Special Meeting, Calgary

+ Dec. 15; Rooster Energy Ltd., Annual General Meeting of Shareholders, Houston

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

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


[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 …

+ 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. 6, 2016




 TODAY'S HEADLINES


HEADLINES: Bellatrix, BlackPearl, Enbridge and Shell close big sales | CRUDE PRICES UP| OPEC agreed to cutback production | petrochemical plants get big royalty-kickstart from GOA + Abel Pagaling 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 Abel Pagaling, Manager Analytics/Claims at Intact Insurance and publisher of Filipino Canadian Magazine

Last week's conversation with Gabby Franco of Jiaming Investment Group

A recent conversation with Mark Hopkins, 'Total Rewards' Director/Mensch at Brookfield Residential Properties

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



 QUOTES

+ If I create from the heart, nearly everything works; if from the head, almost nothing. – Marc Chagall

+ The best way to predict the future is to create it. – Peter Drucker




 KUDOS 

+ to the Van Horne Institute – celebrating its 25th Anniversary




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 sponsors of this week's issue:

e-mail to Sharon Martens
 
INTERIOR DESIGN



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



CONTACT PIVOTAL
 
PROJECT MANAGEMENT



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



CONTACT DAWSCO
 
COFFEE SERVICES



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CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



CONTACT MARK KOLKE 
RESIDENTIAL SALES



INTERESTING REAL ESTATE NEWS, other places


+ Franklin Street Properties Corp. acquired Dominion Towers (2 interconnected Class A office properties: 613,527 sq. ft.) for US$154.0 million; EOG Resources occupies 29% through to 2016

+ Imperial Equities Inc. acquired the Wolseley Waterworks Building in Edmonton for $2,050,000.0; renamed it Coppertone VIII – 7,100 sq. ft. building on 1.84 acres; they have also agreed to acquire 149 St. Business Centre for $9.8 million

+ pretty woman takes a pretty big haircut: Julia Roberts listed her Hawaii home for US$29.85 million, sold for US$16.2 million – a stiff price by anyone’s standard for 200 ft. of beach in Kaui’s Hanalei Bay; 5 bedroom house plus a 2 bedroom cottage

+ Tricon Capital Group Inc. acquired three manufactured housing communities (421 residential pads) in California for US$30.4 million




 SAVE THE DATE / upcoming events

+ Dec. 6-7: Alberta-US Trade Summit, TELUS Convention Centre, Calgary; info/tickets

+ Dec. 9; BOMA Best - Environmental Standards, Eau Claire Tower Conference Centre; registration - complimentary for BOMA Members

+ Dec. 9: Alberta Securities Commission - open forum; Propsoals to Enhance Obligations of Advisors, Dealers and Representatives; Centennial Place Conference Centre, Calgary; register to attend

+ Dec. 15; Canadian Pensionis & Benefits Institute - Pensions in Alberta: The Road Ahead, Fairmont Palliser, Calgary; info/register

+ 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 ]



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NEWS SUMMARY 
 Nov. 29 ~  Dec. 6 


+ Bank of Nova Scotia is selling its HollisWealth network of financial advisors ($34.0 billion under administration) to Industrial Alliance Insurance and Financial Services Inc.; terms not disclosed

+ Bellatrix Exploration Ltd. agreed to sell a portfolio on non-core Harmattan area assets to TransGlobe Energy Corporation for $80.0 million

+ BlackPearl Resources Ltd. closed $55.0 million sale of royalty interests in its Onion Lake property

+ BP PLC announced it is returning to ‘new projects’ in Gulf of Mexico; a US$9.0 billion budget is attached to the 2nd phase of the ‘Mad Dog’ project

+ Canadian Equipment Rentals Corp. closed its $12.0 million sale of its waste management division to GFL Environmental Inc.

+ Cieba Energy Services Inc. opened its Kaybob West Fluid Facility

+ current energy prices – live link to current Bloomberg energy prices; last week’s trading frenzy fizzled after OPEC agreement looks less-strong a few days later, Indonesia leaving OPEC – and then trading took off again; BRENT and WTI up significantly, then easing as traders doubt OPEC’s ability to cut … tic toc

+ Dakota Access pipeline standoff solution: U.S. Army Corp. of Engineers are calling for a re-route crossing under the Missouri River, hopefully ending the protests that have been blocking the pipeline’s progress – or, a ‘political solution’ to problem that was less of an engineering one, and mostly a social license one; nobody knows what position the Trump administration will take – but for now this project is stalled/re-routed and potentially cancelled … tic toc

+ DirectCash Payments Inc. got shareholder approval for their takeover arrangement with Cardtronics PLC

+ Enbridge Inc. and Enbridge Income Fund Holdings Inc. closed $1.075 billion sale of their South Prairie Region assets to Tundra Energy Marketing Limited

+ Inter Pipeline Ltd. secured $200.0 million in royalty credits from the GOA as part of the deal; Inter Pipeline’s $1.85 billion propone hydrogenation facility [acquired in their recent acquisition of Williams Co’s.] to be built near Fort Saskatchewan; also they are planning a $1.3 billion polypropylene project for an adjacent site … plants expected to be operational in 2021

+ Irving Oil agreed to acquire four inland storage facilities in Nova Scotia from Valero Energy Inc.; terms not disclosed

+ Marquee Energy Ltd. and Alberta Oilsands Ltd. made peace in their squabble with Smoothwater Capital; court order approves the Marquee takeover arrangement

+ Maxim Power Corp. closed the sale of Comax France S.A.S. to Vine Luxembourg SARL for EUR18.0 million

+ Mosaic Capital Corporation closed its acquisition of 70% interest in Bassi Construction Ltd. and Basscon Group Inc. f or $24.5 million

+ MSLGroup acquired Publicis Communications

+ OPEC agreed to its first production/output cut since 2008; markets responded with a bump in trading prices, and with nervousness; Saudi’s take the largest cut and some industry watchers aren’t trusting the OPEC members to live up to their agreement … tic toc

+ Pembina Pipeline Corporation and Petrochemical Industries Company secured $300.0 million in royalty credits from GOA to construct an integrated propylene and polypropylene facility in Sturgeon County; construction to start in 2019, plants to be operational in 2021

+ PetroCapita Income Trust acquired 79% interest in Crucible Resources Corporation

+ pipelines; Trudeau Cabinet approved 2 out of 3 pipelines; Northern Gateway ‘not in the public interest’,  Kinder Morgan/Trans Mountain expansion approved with 157 conditions’ and Line 3 expansion approved with ’37 conditions’

+ Potash Corporation of Saskatchewan Inc. is on the market to raise US$500.0 million in unsecured debt

+ PrairieSky Royalty Ltd. closed $117.3 million in royalty acquisitions

+ Precision Drilling Corporation announced their 2017 CapEx Budget is $109.0 million

+ Shell Canada Limited completed its Scotford Refinery; increases hydrocracker production by 20%

+ Sturgeon Refinery project gets praise from the Conference Board of Canada: Is There Value In Adding Value?

+ Tervita Corporation stakeholders approved its recapitalization transaction

+ Tourmaline Oil Corp. closed its $1.369 billion asset acquisition from Shell Canada Energy in a cash and shares transaction

+ Uber resumed ride-sharing operations in Calgary

+ Veresen Inc. announced its 2017 CapEx Budget it $475.0 million




THIS WEEK IN FINANCINGS 
- proposed & closed

+ AltaLink L.P. is on the market to raise $450.0 million in unsecured debt

+ American Hotel Income Properties REIT LP is on the market to raise $100.0 million in equity

+ Canadian Spirit Resources Inc. is on the market to raise $500,000.0 by private placement

+ Gran Tierra Energy Inc. closed US$130.0 million equity financing

+ Great-West Lifeco Inc. is on the market to raise €500.0 million in senior debt

+ Groundstar Resources Limited closed $250,000.0 debt financing

+ Industrial Alliance Insurance and Financial Services Inc. is on the market to raise $139.0 million in equity

+ Manitok Energy Inc. closed $5.05 million flow-through and common share financing

+ Mosaic Capital Corporation closed $626,000.0 overallotment of its recent sr. sub. debt financing

+ Ritchie Bros are on the market to raise US$500.0 million in sr. unsecured debt

+ Tervita Escrow Corporation is on the market to raise $475.0 million in sr. secured debt

+ The Second Cup Ltd. secured $8.0 million secured debt financing

+ US Oilsands Inc. is on the market to raise US$7.5 million in equity




 CLIMATE CHANGE / LEED / RENEWABLE ENERGY  

+ Federal Environment Minister Catherine McKenna stated Canada will remain committed to the Paris Accord on Climate Change notwithstanding American President-Elect Trump’s indications the U.S. will pull out; meanwhile Trump is consulting with Al Gore of all people, so who knows what changes in U.S. policy might unfold … tic toc




 INFRASTRUCTURE / P3  


+ DP World formed a JV with Caisse de dépôt et placement du Québec; investment platform totals $5.0 billion; DP World holding 55%, CDPQ the remaining 45%; initial investment are container terminals in Vancouver and Prince Rupert for $865.0 million

+ transportation announcements; GOA gave the go-ahead on $500.0 million for 80 public transit projects around the province with the Trudeau government kicking in $79.4 million and the communities involved are coming up with $137.2 million; some of the projects, totaling $146.0 million are for preliminary work on Calgary’s GreenLine LTR




 OIL SANDS + HEAVY OIL NEWS

+ Marquee Energy Ltd. and Alberta Oilsands Ltd. made peace in their squabble with Smoothwater Capital; court order approves the Marquee takeover arrangement

+ Sturgeon Refinery project gets praise from the Conference Board of Canada: Is There Value In Adding Value?




 this week in REITS 


+ American Hotel Income Properties REIT LP closed its US$8.7 million acquisition of 104-room rail crew hotel in Nashville, TN

+ American Hotel Income Properties REIT LP closed its US$61.0 million acquisition of six select service hotels in Florida

+ American Hotel Income Properties REIT LP is on the market to raise $100.0 million in equity

+ Skyline Commercial REIT agreed to acquire Cervus Equipment Corporation portfolio; 11 dealership properties for $55.7 million




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feedback@facilitycalgary.com



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this site last updated May 6, 2025