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 got the boot

+ Andrew Claerhout to Sr. VP Infrastructure & Natural Resources @ Ontario Teachers’ Pension Plan

+ Brandy Payne to Associate Minister of Health @ Government of Alberta

+ Christine Gray to Minister of Labour and Minister Responsible for Democratic Renewal (whatever that means) @ Government of Alberta

+ Douglas Carruthers to CEO @ Titan Logix Corp.

+ Glenn Hollis to Sr. VP & Chief Marketing Officer, Canada @ Manulife Financial Corporation

+ Graven Larsen to Exec. VP & Chief Investment Officer @ Ontario Teachers’ Pension Plan

+ Jacquie Moore to Corp. Secretary @ Canadian Oil Sands Limited

+ Jolienne Guillemaud to CFO @ Canadian Oil Sands Limited

+ Joy Thomas to Pres. & CEO @ Chartered Professional Accountants of Canada

+ Mark Petersen to VP Engineering @ Legend Power Systems Inc.

+ Marlin Schmidt to Minister of Advanced Education @ Government of Alberta

+ Michael Wissell to Sr. VP Portfolio Construction @ Ontario Teachers’ Pension Plan

+ Peter Nicol to Pres. Water Resources @ CH2M

+ Ricardo Miranda to Minister of Culture @ Government of Alberta

+ Richard Feehan to Minister of Indigenous Relations @ Government of Alberta

+ Sandy Martin to CEO @ Canadian Oil Sands Limited

+ Sandy Struthers to COO & Exec. VP Strategic Planning @ Hydro One Inc., leaving the company

+ Sarah Hoffman to Deputy Premier @ Government of Alberta

+ Sean Brown to CFO @ Gibson Energy Inc.

+ Stephanie McLean to Minster of Service Alberta @ Government of Alberta

+ Wayne Kozun to Sr. VP Public Equities @ Ontario Teachers’ Pension Plan

+ Ziad Hindo to Sr. VP, Capital Markets @ Ontario Teachers’ Pension Plan


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




BOARDROOM changes, purges, appointments etc.

+ Alistair Cowan to Director @ Canadian Oil Sands Limited

+ Douglas Carruthers to Director @ Titan Logix Corp.

+ Harry Roberts to Chair @ Canadian Oil Sands Limited

+ John Poulter, Director @ Groundstar Resources Limited, resigned

+ Maureen McCaw to Director @ Canadian Oil Sands Limited

+ Mel Benson to Director @ Canadian Oil Sands Limited

+ Steve Reynish to Director @ Canadian Oil Sands Limited




 SAVE THE DATE / upcoming events

+ Feb. 23; Real Capital Conference, Metro Toronto Convention Centre, Toronto; info/register

+ Feb. 23; RICS 2nd Annual Construction & Project Manager Seminar, U of C Downtown Campus, Calgary; info/register

+ Feb. 26; 2016 Calgary Home + Garden Show, BMO Centre, Stampede Park, Calgary info/register

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

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

+ Mar. 10; 2016 EPAC Awards Luncheon, Calgary Petroleum Club; info/register

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

+ Mar. 30-Apr.1; Congress 2016, National Privacy & Data Governance Congress, Carriage House, Calgary; info

+ Apr. 4-7; Gas Indonesia, Summit & Exhibition 2016; Jakarta; info/register

+ Apr. 6-8; Economic Developers Alberta, 2016 Annual Professional Conference & AGM, Delta Kananaskis Lodge, Kananaskis; info/register

+ Apr. 12-13; 2016 Smart City Symposium, The Banff Centre, Banff; info/register

+ May 10-12; 4th Annual Canada LNG Export Conference & Exhibition, Vancouver Convention Centre, Vancouver; info/register

+ Sept. 22-25; 2016 Calgary Home + Design Show, BMO Centre, Stampede Park, Calgary info/register

+ Oct. 4-5; CanWeld 2016, Edmonton Northlands, Edmonton

2017

+ Apr. 4-7/2017; Japan Gastech Conference & Exhibition, Tokyo; info/register/save the date

+ Oct. 16-24/2017; World Design Summit, ‘UNESCO City of Design’, Montreal




  GLOSSARY 

+ 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

+ CEAA – Canadian Environmental Assessment Agency

+ COSIA - Canada's Oil Sands Innovation Alliance

+ CPPIB – Canada Pension Plan Investment Board

+ CREB - Calgary Real Estate Board

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

+ E & P – exploration and production

+ 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




 SUGGESTIONS / COMMENTS:
 
feedback@facilitycalgary.com

FACILITYCalgary
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this  site is refreshed with a new issue every Tuesday morning


updated February 9, 2016




 TODAY'S HEADLINES


AltaGas sale to Tidewater | ATCO re-entering retail | Enerplus closes sale |Forent/Perisson merger | Hainan flights to Beijing | Laricina out of CCAA | Lowe’s buying RONA | rig counts way down| Shell’s LNG commitment stalled | Suncor wins its bid for COS + Frank Dabbs interview + upcoming events & corp. meetings + climate change, infrastructure, oil sands, REIT news +  this week’s financings + executive and board appointments + VIEWPOINT editorial >>>>




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 Frank Dabbs, veteran reporter, author and Editor @ Didsbury Review

Last week's conversation with Guy Mallabone, Pres. & CEO (Canada) @ Global Philanthropic.

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



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 sponsors of this week's issue:

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 QUOTES

+ Love is an irresistible desire to be irresistibly desired. – Robert Frost

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




 SHAREHOLDER MEETINGS

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

+ Feb. 25; Oando Energy Resources Inc., Special Meeting of Shareholders, Vancouver

+ Feb. 29; Long Run Exploration Ltd., Special Meeting/Approve Plan of Arrangements, Calgary

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

+ Apr. 5; CIBC, Annual and Special Meeting of Shareholders, Vancouver, BC

+ Apr. 6; Royal Bank of Canada, Annual and Special Meeting of Common Shareholders, Montreal

+ Apr. 8; Rock Energy Inc., Special Meeting of Shareholders, Calgary

+ Apr. 9, Scotiabank, Annual and Special Meeting, Ottawa


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



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NEWS SUMMARY 
 February 2 - 9 


+ AltaGas Ltd. agreed to sell a portfolio of natural gas assets (490 Mmcf/d) to Tidewater Midstream and Infrastructure Ltd. in a cash and shares transaction

+ ATCO Group announced it is re-entering the retail power and natural gas business; will compete with Direct Energy and Enmax now that it’s 10-yr. non-compete deal with Direct Energy has run its course. ATCO sold its retail operation to Direct Energy in 2002 for $90 million

+ Baker Hughes reports rig counts are way down!

+ CERF Inc. acquired Zedcor Oilfield Rentals Ltd. for $21 million

+ current energy prices – live link to Bloomberg energy prices; soft oil prices hurting oil stocks worldwide

+ don’t hold your breath:  Prime Minister Trudeau visited the province, made promises of tossing us a lifeline, changes to EI and help for pipelines – long on words, short on details other than to speed the shipment of $700 million already committed for infrastructure projects (not new money) and somehow he blew some sunshine Don Braid’s way (his column was all syrup) … tic toc …

+ Energy East Pipeline news; TransCanada Corporation has been asked by the NEB to re-file its application in a simpler, less complex form. Sounds like a delaying tactic to me …

+ Enerplus Corporation closed its $183 million natural gas asset sale

+ FACILITYCalgary’s new OP-ED page: ‘Is 2016 another cyclical problem, or an enormous opportunity’ by Mark Kolke - click VIEWPOINT guest articles welcome …

+ Forent Energy Ltd. and Perisson Petroleum Corporation agreed on a combination; merged entity to operate as Perisson Petroleum Corporation

+ Hainan Airlines announced it will run three-times weekly direct Beijing-Calgary flights starting June 30

+ Higher Landing Inc. and The Quaderra Group formed a ‘strategic partnership’

+ Laricina Energy Ltd. emerged from CCAA protection; CPPIB (that’s all of us!), now holds 89%. A reduced staff (20) are reviewing options …

+ Lowe’s Companies Inc. agreed to acquired RONA Inc. for $3.2 billion

+ Markin Petroleums Ltd. took a stake (17.5%) in Crown Capital Partners Inc.

+ MEG Energy Inc. announced it has cut its 2016 CapEx Budget to $170 million, down from $328 million

+ National Bank of Canada’s interest (24.9%) in Maple Financial Group Inc. (and its sub, Maple Bank GmbH in Germany) in question after German authorities placed a moratorium on Maple Bank’s continuation as it cannot meet its operational responsibilities; tic toc …

+ Notley government cabinet shuffle; six new members and a few moves …

+ Petrus Resources Ltd. completed its ‘arrangement’ and financing with Petrus Resources Inc. and Fox River Resources Corporation; the share/funding plan is completed; will operate as Petrus Resources Ltd.

+ Pierdae Energy (Canada) Ltd. got its U.S. Department of Energy approval for its Goldboro LNG project; will allow exportation of U.S. originated natural gas from the facility …

+ Prime Minister Trudeau and Premier Notley met privately with senior executives of large E&P companies – but no official announcements of anything said or committed to …

+ Royal Dutch Shell is postponing its final decision to sanction its LNG project proposed for BC due to low energy prices; decision likely before end of 2016

+ Serinus Energy Inc. closed the sale of its Ukraine assets to Resano Trading Ltd.

+ Suncor Energy Inc. was successful in its takeover bid for Canadian Oil Sands Limited; 72.9% of shares tendered – now Suncor will take up the remainder after the extended bid period expires Feb. 22/16

+ Suncor Energy Inc. appointed new officers and directors at Canadian Oil Sands Limited

+ Terra Energy Corp. closed $1 million sale of non-core assets

+ Tourmaline Oil Corp. acquired a portfolio of Minehead-Edson-Ansell area assets for $183 million

+ UGE International Ltd. closed its acquisition of Endura Energy Project Corp.

+ Weatherford International plc will cut workforce by 15%; reduction will impact 6,000 jobs cut worldwide




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Corus Entertainment Inc. closed $228,600,000 equity financing

+ Corus Entertainment Inc. closed $34,290,000 over-allotment of its recent equity financing




 CLIMATE CHANGE / LEED / RENEWABLE ENERGY  

+ largest solar project in North Africa opened; in a place where there is lots of sun, but not so many consumers:  €798 million Euro project is Phase One of  €8 billion project – developed by a Saudi/Spanish JV … 

+ Moody’s are predicting the ‘green bond’ market to reach US$50 billion in 2016




 OIL SANDS NEWS 

+ Laricina Energy Ltd. emerged from CCAA protection; CPPIB (that’s all of us!), now holds 89%. A reduced staff (20) are reviewing options …

+ Suncor Energy Inc. was successful in its takeover bid for Canadian Oil Sands; 72.9% of shares tendered – now Suncor will take up the remainder after the extended bid period expires Feb. 22/16




INTERESTING REAL ESTATE NEWS, other places


+ Morguard Corporation agreed to acquire three Toronto hotels from Temple Hotels Inc. for $33.5 million (417 rooms)

+ Prologis increased its commitment to a China JV with HIP China Logistics Investments Ltd.; putting in another US$882 million to build and acquire logistics properties in China

+ Starwood Capital Group/Brookfield Property Partners JV hired agents to sell a portfolio of German hotels – expected to fetch US$1.08 billion

+ TIAA-CREF is hiving off its global real estate assets into a new division to drive expansion 




 this week in REITS 


+ Morguard North American Residential REIT closed its $67 million acquisition of a 21-storey building (370 suites) in Ottawa

+ Northview Apartment REIT opened its Cobble Hill project in Airdrie; 140 units




BITS AND PIECES FROM ALL OVER 


+ Amazon.com announced its intention to open 400 physical book stores; a prototype was opened in Seattle last November … tic toc …

+ Winnipeg added new head-office jobs (391) at a faster rate than any other major Canadian city in 2014, who knew? Seems odd, Stats Canada thinks year-old information is relevant …




 INFRASTRUCTURE / P3  


+ C2P3 – Canadian Council for Public-Private Partnerships published their Canadian Infrastructure Report Card – view online or download the 164 page report




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this site last updated May 6, 2025