FACILITYCalgary

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

FACILITYCalgary May 6/25

ARCHIVED ISSUES

CONVERSATIONS

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Alex Agius, co-CEO @ Distinct Infrastructure Group Inc., left the company

+ Bryan Cox to Pres & CEO @ BC LNG Alliance

+ Cody Churche, Director @ Source Energy Services Ltd., resigned

+ Daryl Gilbert, Director @ Connacher Oil and Gas Limited

+ Gay Binns to Judge @ Provincial Court of Alberta

+ Glenn Koach to Director @ Zargon Oil & Gas Ltd.

+ Gordon Ritchie to Chairman @ Obsidian Energy Ltd.

+ Gregory Stirling to Judge @ Provincial Court of Alberta

+ Hyder Hassan to CEO @ Immigrant Services Calgary

+ Jay Thornton, Director and Chairman @ Obsidian Energy Ltd., stepping down

+ Joan Dunne to Director @ Webber Academy

+ Joe Lanni, co-CEO @ Distinct Infrastructure Group Inc., left the company

+ John Dielwart to Director @ Crescent Point Energy Corp.

+ Kara Dusseldorp to Leasing Director, Calgary @ Manulife Real Estate

+ Kevin Sherkin to Director @ Drone Delivery Canada

+ Lisa Wall to Chief People Officer @ Seequent

+ Michael MacBean to Director @ Source Energy Services Ltd.

+ Michael Smith to Director, Information Technology @ Burnco Rock Products Ltd.

+ Natalie Tooley to Dir., Marketing & Bus. Dev. @ SMP Engineering

+ Parker Evans to Exec. VP, Bus. Dev. @ G Tech Apparel

+ Peter Taylor to Pres. @ Keywork Labs Inc.

+ Robert Lanterman to VP Product Dev. @ Agrios Global Holdings Ltd.

+ Sean Deakin to VP, National Mgr. Surety Canada @ CAN Canada

+ Shafraaz Kaba to Principal @ Ask for a Better World

+ Stew Hanlon to Chairman @ Source Energy Services Ltd.

+ Susan Pepper to Judge @ Provincial Court of Alberta

~

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




 MEMORIAM

+ Barry Erskine, former Calgary City Councillor; 73

+ Hon. Albert Ludwig, former MLA and Cabinet Minister; 99




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ Finding Meaning in Your Job – interview with Dr. Marshall Golsmith/Dorie Clark

+ 2019 Startup Outlook Report from Silicon Valley Bank

+ how to measure the true cost of a bad hire




 QUOTES 

+ An apology is the superglue of life. It can repair just about anything. – Lynn Johnston

+ Make a friend when you don’t need one. – Jamaican proverb




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+ AIMCo – Alberta Investment Management Corporation

+ ASC – Alberta Securities Commission

+ AUC – Alberta Utilities Commission

+ BBL – barrel

+ BBLS/D – barrels per day

+ BIM – Building Information Modeling

+ 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

+ DILBIT – diluted bitumen

+ DIP – debtor in possession

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

+ EIA – U.S. Energy Information Administration

+ EPC – engineering, procurement and construction

+ 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

+ IMCO – Investment Management Corporation of Ontario

+ IPO – Initial Public Offering

+ ISO – International Organization for Standardization

+ 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

+ MOA – Memorandum of Agreement

+ 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

+ PSP – Public Sector Pension Investment Board

+ 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




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current week data

this  site is refreshed with a new issue every Tuesday


updated February 26, 2019




 TODAY'S HEADLINES


HEADLINES: Devon selling oilsands assets | Encana layoffs | NEB report on TransMountain | WestJet Dreamliner started service + deals + rig counts + upcoming events, appointments, Golf Tournaments + REIT NEWS + financings




CONVERSATIONS

FACILITYCalgary Publisher 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:

Last week's conversation with Karen Brookman, Chief Innovation Officer @ West Canadian Digital Imaging

A recent conversation with Naresh Nakhid, Partner - Private Enterprise @ MNP

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



 sponsors of this week's issue:

e-mail Lance Laliberte - Sales at PREMIERE OFFICE FURNITURE
 
NEW AND USED OFFICE FURNITURE



e-mail Elaine Evans
 
FURNISHED EXECUTIVE RENTAL SUITES



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



 
DATA CENTRE

e-mail: June.Read@DataHive.ca



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



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



e-mail Grant Robinson, Managing Director, Calgary
 
RISK & INSURANCE SOLUTIONS



CONTACT US
SALES COACHING



e-mail to Katherine Robinson, Managing Director

e-mail to Kim Green, Sr. Associate, Interior Design
ARCHITECTURE + INTERIOR DESIGN



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



CONTACT MARK KOLKE 
RESIDENTIAL SALES



click to contact: Trevor Winkler, Regional Managing Partner, Calgary
 
ACCCOUNTING, CONSULTING, TAX



 SHAREHOLDER MEETINGS

+ Mar. 6; Servus Credit Union, Annual General Meeting, Edmonton

+ Mar. 15; Sun Life Financial, Annual Meeting of Common Shareholders, Toronto

+ Mar. 20; Calgary Exhibition and Stampede Limited, Annual General Meeting of Shareholders, Calgary

+ Mar. 21; Cargojet Inc., Annual General Meeting of Shareholders, Toronto

+ Mar. 28; Crius Energy Trust, Special Meeting of Unitholders, Toronto

+ Apr. 4; CIBC, Annual Meeting of Shareholders, Montreal

+ May 8; Maxar Technologies Inc., Annual Meeting of Stockholders, Westminster, Colorado

~

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




 SAVE THE DATE - CHARITY GOLF TOURNAMENTS 

+ May 21; MOC Summit Golf Tournament for MBI Canadian Foundation, Fairmont Banff Springs GC, Banff; info/register

+ June 9; 4th Annual Max Robinson Children’s Foundation, Crystal Ridge GC, Okotoks; info/register

+ June 20; Ambrose University 2019 Golf Classic, Glen Eagles, Cochrane; info/register

+ June 20; 26th Annual IFMA Calgary Open, Blue Devil Golf Club, Calgary; info/register

+ July 16; Willow Park Charity Golf Classic, Willow Park G&CC, Calgary; info/details

+ Aug. 13-15; Priddis Greens Charity Classic, Priddis Greens G& CC, Priddis; info/details

+ Sept. 5; 2019 Enmax BOMA Golf Tournament, Kananaskis Country GC, Kananaskis; info/register

~

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




↓SIGN UP TO GET FACIILITYCalgary↓

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NEWS SUMMARY 
 February 19 ~ 26 


+ a warm welcome to a new FACILITYCalgary sponsor: Premiere Office Furniture

+ a warm welcome to a new FACILITYCalgary sponsor: Urban Suites

+ B.C. gov’t legal action to have Alberta’s law allowing restriction of refined oil products to B.C. to be declared unconstitutional was dismissed .. yay for us!

+ B. W. Rig Supply Inc. restructuring under the Bankruptcy and Insolvency Act; Deloitte Restructuring Inc. appointed trustee

+ Clearview Resources Ltd. closed $9.5 million acquisition of west-central Alberta oil & gas assets

+ Devon Energy Corp. announced plans to self off its Canadian oil sands assets and exit the sector

+ Encana Corporation amalgamating its recent Newfield Exploration acquisition confirmed there will be layoffs in Calgary, Denver and Houston operations – projecting substantial savings to general and administrative costs but no announcements on head count …

+ current energy prices – live link to current Bloomberg energy prices / OilPrice.com; growth of crude supply / demand disparity predicted for 2019 by EIA: 1.4 million bbl/day demand growth against 1.8 million bbl/day supply lift – and prices slumping on OPEC reaction to Trump claim that prices are too high

+ GOA committed to leasing 4,400 rail cars to boost oil exports until pipeline capacity increases; deals expected with CN and CP to start in July/19

+ NEB ruling on marine transport issues affecting the expansion of the Trans Mountain pipeline issued its ‘reconsideration report’ with an overall decision (already subject to 156 conditions – 16 more added in this decision concerning marine wildlife and air pollution factors) the $9.3 billion project is in the Canadian public interest and should be approved; this starts a 90-day clock for the Trudeau government to approve, or not, the expansion of the pipeline the government bought last year for $4.5 billion – which makes for tricky politics in an election year … tic toc

+ Prairie Provident Resources Inc. announced its 2019 CapEx Budget is $18.9 million

+ rig counts - Canada: down 12 to 212 this week; click for full breakdown

+ rig counts – U.S.: down 4 to 1,047 this week; full breakdown

+ WestJet launched its commercial/revenue flights with its new Dreamliner 787 plane (tail #901); first flight was Toronto to Calgary – overseas flights to commence April 28th




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Artis REIT closed $250.0 million in sr. unsecured debt financing

+ Boralex Inc. closed $165.0 million debt financing

+ Firm Capital Property Trust is on the market to raise $15.0 million in equity by private placement

+ Mandalay Resources Corporation closed $43.0 million equity financing

+ Pieridae Energy Linmited is on the market to raise $15.0 million in equity

+ SQI Diagnostics Inc. is on the market to raise $2.5 million in equity by private placement

+ Standard Lithium Ltd. is on the market to raise $10.5 million in equity

~

*editor’s note: names companies involved in debt financing transactions we report in this section are ALWAYS the borrower; we report ‘fresh raises’ and do not report secondary offerings …




 CONSTRUCTION NEWS + INNOVATION 

+ Building of the Year ’19 – nominations open




 INFRASTRUCTURE / P3  


+ Calgary City Council have approved a ‘term sheet’ for re-starting negotiations with Calgary Flames for a new arena … tic toc

+ Kiewit-led group won $411.8 million contract to build new all-season highway in NWT

+ Partners Group sold its stake in Bill Bishop Toronto City Airport to its consortium partners; terms not disclosed

+ St. Paul’s Hospital $1.9 billion 548 bed replacement project in Vancouver got a go-forward from the B.C. government will be operated by Providence Health Care on an 18.4 acre site on False Creek Flats; current facility will be sold once the replacement facility is up and running in 2023




 INTERESTING THINGS IN RETAIL REAL ESTATE 


+ A&G Realty Partners (New York) retained to handle disposition of Payless Shoe Source leases; 2,587 leased in U.S. and Canada

+ HBC announced it will shutter its Home Outfitters stores in Canada (37 locations); also conducting a review of its Saks OFF 5th chain … 133 locations in Canada and U.S. … tic toc




 this week in REITS 


+ Artis REIT closed $250.0 million in sr. unsecured debt financing

+ Elad Canada completed is $400.0 million takeover of Agellan Commercial REIT

+ Firm Capital Property Trust is on the market to raise $15.0 million in equity by private placement




 SAVE THE DATE / upcoming events

+ Feb. 26; RealCapital Conference, Metro Toronto Convention Centre, Toronto; info/register

+ Feb 27-28; Well Site Facilities Canada Unconventional Shale Congress 2019, Calgary Marriott Downtown; info/register

+ Mar. 1; MardiGras Fundraising Gala for Lung Cancer Research; Hellenic Community Centre, Calgary; details/tickets

+ Mar. 20; 2019 EPAC Awards Luncheon, Calgary Petroleum Club; info/register

+ Apr. 1; Vancouver Real Estate Forum, Vancouver Convention Centre West; info/register

+ Apr. 3-5; Economic Developers Alberta, 2019 Annual Conference, Banff Centre, Banff; info/register

+ Apr. 9-10; ISA Calgary Show, Stampede Park, Calgary; info/book exhibit space

+ April 23; Canadian Gas Dialogues, Calgary Petroleum Club, Calgary; info/register

+ Apr. 29 – May 1; Canada’s Trends Conference, Fairmont Banff Springs, Banff; info/register

+ Apr. 30; Saskatchewan Real Estate Forum, Saskatoon; info/register

+ May 27-29; Williston Basin Petroleum Conference, Delta by Marriot Regina, SK; info/register

+ June 10-12; NeoCon, The Mart, Chicago; info/register

+ June 11-12; Downstream 2019, George Brown Conv. Center, Houston; info/register

+ June 11-13; Global Petroleum Show 2019; Stampede Park, Calgary; info/register

+ Sept. 2-4; World Heavy Oil Congress & Exhibition, Oman Convention Centre, Muscat, Oman; info/register

+ Sept. 9-11; BOMEX 2019, St. John’s, Nfld.; info/sponsor/register

+ Sept. 17-19; Gastech Exhibition & Conference, Houston, Texas; info/registration


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



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this site last updated May 6, 2025