+ AltaGas Ltd. secured and completed a sublease of Ridley Island, BC for its Ridley Island Propane Export Terminal near Prince Rupert
+ Bank of Canada announced it will hold its overnight rate at ½ of 1%
+ Bulls or Bears: Asian markets, London too have slumped and are very bearish – leaving their remaining bullishness behind in 2015; Wall Street and Bay Street continued their tough beginning to 2016 with optimism dampened by Asia, oil and politics as the anniversary of Black Monday (Jan. 21, 2008) hit markets worldwide …
+ Calgary office space negotiating in 2016; clearly a tenants market. To get a copy of my 'Strategy Paper on negotiating leases in 2016 - Calgary/office', send a note: firstname.lastname@example.org with 'Strategy Paper' in subject line
+ Canadian Pacific Railway announced it will reduce its workforce by 1,000 jobs this year as commodity shipment volumes decline due to low prices
+ current energy prices – live link to Bloomberg energy prices; crude perked up a bit over the week on U.S. government inventory and production data and up again to US$32/bbl yesterday, yet Brent slipped … while Wall Street continued its stock slump, energy stocks leading the decline
+ Davos dance … Prime Minister Trudeau bragged to the world that we are not about resources, but about resourcefulness. Mayor Nenshi stood up for us – reminded the world press and anyone else who would listen between speeches, parties and runs on the slopes at Davos/Klosters, that we are VERY MUCH about resources. Yay!
+ FACILITYCalgary’s new OP-ED page; guest articles welcome; check out ‘Is 2016 another cyclical problem, or an enormous opportunity’ by Mark Kolke - click VIEWPOINT
+ Great Prairie Energy Services Inc. (124 employees) is in receivership; all directors resigned, Grant Thornton is Receiver
+ Honeywell’s takeover of COM DEV International Ltd. got court approval
+ Husky Energy Inc. is putting a portfolio of Western Canadian oil & natural gas assets on the market; expected to raise $2.1 billion
+ Husky Energy Inc. announced its 2016 CapEx Budget is revised downward to $2.1 billion
+ J.D. Irving announced it expects to hire 7,900 people over the next three years for its operations in Canada and the United States
+ Maple Leaf Royalties Corp. got shareholder approval for its plan of arrangement with Eagle Energy Trust and Eagle Newco Inc.; Eagle’s shareholders also approved
+ Mawer Investment Management Ltd. formed a subsidiary to operate in Singapore
+ Midwestern Oil & Gas Company Limited and San Leon Energy plc joint-venture agreed to takeover Mart Resources Inc.
+ OPEC reports its member countries collectively pumped 32.28 million/bbls/day in December
+ Optimum Talent Inc. and Conroy Ross Partners formed a joint-venture; also, they acquired the Vancouver office of Toombs Inc. (Toombs Inc. is still alive and well in other markets/offices)
+ Painted Pony Petroleum Ltd. announced its 2016 CapEx Budget is revised downward to $197 million
+ Paramount Resources Ltd. is reducing staff by 15%; also selling some midstream assets …
+ Pengrowth Energy Corporation suspended its dividend; and announced its 2016 CapEx Budget is $60 million
+ Postmedia merged its competing newsrooms; in Calgary, the Calgary Herald and Calgary Sun newsrooms are now all one … tic toc …
+ Quattro Exploration and Production Ltd. agreed to acquire a portfolio of west-central Saskatchewan assets for $4,150,000
+ Sanchez Energy Corp. announced its 2016 CapEx Budget is US$200 million
+ Tamarack Valley Energy Ltd. announced its 2016 CapEx Budget is $52 million
+ Touchstone Exploration Inc. agreed to sell its Kerrobert, SK assets for $4,150,000
+ TransCanada Corp. confirmed it has opened an oil trading unit but has declined to provide details; seems like the plan to buy oil when prices are low, store it, and sell later at higher prices; is that too simple an analysis or am I missing something?
+ Tyco International in merger deal with Johnson Controls; US$16.5 billion deal involves an inversion deal – shifting tax home to Ireland to save buckets in taxes … tic toc …
+ Whitecap Resources Inc. announced its 2016 CapEx Budget is revised downward to $70 million
+ who is Denis Codere and why do we have a problem? He is Mayor of Montreal (yes, the city that dumps its raw sewage into the St. Lawrence), leader of a block of municipalities saying NO to the Energy East Pipeline project; seems those folks forget all the years of transfer payments flowing from Alberta to Quebec. Maybe we should ask for a refund. Our Prime Minister, back from glad-handing at Davos, meets with Mayor Codere this morning. I’m hopeful, but not betting the farm, the Prime Minister will talk some sense into him. Whether it is OUI or NON, expect continued rumblings in Alberta to go far beyond mocking Codere for his Flintstones remarks. Makes me wonder what Ralph would do? What Peter would do? What Rachel will do …?
+ Williams Energy Canada has a big project brewing; to be built at Fort Saskatchewan - $2.5 billion propylene plant. Next step is finalizing the deal with another operator to build a polypropylene plant to take Williams feedstock … stay tuned!
+ 3MV Energy Corp. received a demand notice from its secured lender ($6 million) and notice of pending action to enforce security
THIS WEEK IN FINANCINGS
- proposed & closed
+ Caza Oil & Gas Inc. secured US$100 million credit facility
+ CIBC is on the market to raise $1 billion in sub. debt issue
+ Corus Entertainment Inc. is on the market to raise $260 million in equity
+ GFL Environmental Inc. is on the market to raise US$250 million in sr. unsecured debt
+ National Bank of Canada closed $400 million preferred share financing
+ Royal Bank of Canada is on the market to raise US$1.5 billion in sub. debt
CLIMATE CHANGE / LEED / RENEWABLE ENERGY
+ AEMERA is partnering with Miistakes Institute and Mount Royal University to engage citizens in the science of their work
+ Denmark set a record in 2014; a recent report announces they achieved 39.1% of the country’s electricity consumption through wind power; small country, lots of wind turning those offshore turbines – and their goal is to be 50% by 2020 …
INTERESTING REAL ESTATE NEWS, other places
+ Brookfield Asset Management Inc. made a US$657 million takeover bid for Rouse Properties Inc.
+ in The Loop; Ivanhoé Cambridge and Callahan Capital Properties agreed to purchase a 796,000 sq. ft. Class-A building in Chicago’s downtown; 180 North LaSalle Street acquired for US$198 million
+ Ivanhoé Cambridge dissolved its partnership with Blackstone in Gecina; Ivanhoe Cambridge continues as principal shareholder of Gecina with 23%
+ Simon Premium Outlets and Ivanhoé Cambridge announced they will build a Premium Outlet Collection centre at Edmonton International Airport; 428,000 sq. ft. enclosed outlet mall will open in 2017; 100 stores
+ St. Louis Rams, the NFL team, are relocating back to Los Angeles; a new stadium and mixed-use 298 acre development in Inglewood, CA will cost US$3 billion – now that’s what I call a welcome home!
INFRASTRUCTURE / P3
+ AIMCo sold its 50% interest in Autopista Central de Chile (a 61km. toll road in Santiago) to Abertis Infraestructure SA for $1.5 billion; gain (or loss) on the transaction was not disclosed …
+ Andre Desmarais and Guy Laliberte are backing re-development of 9.3 hectares, LeBreton Flats, across from the Canadian War Museum in Ottawa
+ CN is planning a new logistics hub at Milton, ON; $250 million project
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