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

FACILITYCalgary May 6/25

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 QUOTES

+ Too often we judge other groups by their worst examples while judging ourselves by our best intentions, and this has strained our bonds of understanding and common purpose. – George W. Bush

+ Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies. – Groucho Marx




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

+ Alexander Skripka to Chief Commercial Officer @ Tethys Petroleum Limited

+ Ann Rooney to Lead Independent Member @ Alberta Securities Commission

+ Bas Brusche to VP External Relations @ Geoscience BC

+ Brian Aitken, Exec. VP & CFO @ NAV Canada, retiring

+ Chris Yellowega, Pres. & CEO @ Northern Frontier Corp., resigned

+ Christian Brown to Corp. Dev. Officer @ SNC-Lavalin

+ Ed LaFehr to Pres. @ Baytex Energy Corp.

+ Jason Evan Clifton to Partner, Calgary @ Ernst & Young

+ Jay Rajarathinam to Chief Information Officer @ TMX Group Limited

+ John Ferguson to Pres. & CEO @ Purolator Inc.

+ Karen Ellis to VP Bus. Dev. @ Cytelligence Inc.

+ Louis-Phillippe Gariepy to Director, Public and Gov. Affairs @ Valero Energy Inc.

+ Martin Adler to Pres., Oil & Gas @ SNC-Lavalin

+ Mike Rencheck to Pres. & CEO @ Bruce Power

+ Patrick Cavanagh to Partner, Calgary @ Ernst & Young

+ Paul Kroshko to Sr. Consultant @ DXI Energy Inc.

+ Rahul Bhardwaj to Pres. & CEO @ Institute of Corporate Directors

+ Raj Mehta to Global Head, Private Capital & Partnerships @ Starlight Investments Ltd.

+ Ron Prasad to GIS Specialist @ Geoscience BC

+ Sean Gunton to Partner, Calgary @ Ernst & Young

+ Sheri Sigurdson to Associate Partner, Calgary @ Ernst & Young

+ Stephen Wetmore to Pres. & CEO @ Canadian Tire Corporation

+ Thomas Syvret to Associate Partner, Calgary @ Ernst & Young


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




BOARDROOM changes, purges, appointments etc.

+ Allen Sello, Director @ North American Energy Partners Inc., retired

+ Bilal Hydrie to Director @ Penine Petroleum Corporation

+ Colin Mills to Director @ International Frontier Resources Corporation

+ Chris Yellowega, Director @ Northern Frontier Corp., resigned

+ Jake Brace to Director @ Niko Resources Ltd.

+ Joe Ghiz to Director @ Ducks Unlimited Canada

+ Rob Hunt to Executive Chairman @ Northern Frontier Corp.

+ Thomas Stan to Director @ North American Energy Partners Inc.

+ Todd Dillabough to Director @ Champion Bear Resources Ltd.


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




 SHAREHOLDER MEETINGS

+ July 20; Rock Energy Inc., Annual and Special Meeting of Shareholders, Calgary

+ July 26; Parkit Enterprise Inc., Annual General Meeting, Vancouver

+ Aug. 10; Twin Butte Energy Ltd., Annual and Special Meeting, Calgary

+ Aug. 26; PRD Energy Inc., Annual and Special Meeting of Shareholders, Calgary

+ Sept. 13; Calgary Chamber of Voluntary Organizations, Calgary


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



  GLOSSARY 

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+ 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

+ 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

+ GJ – gigajoule

+ GLA – gross leasable area

+ GOA - Government of Alberta

+ GTA – greater Toronto area

+ G&A – general and administrative

+ 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

+ 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

+ RFP – request for proposals

+ RFQ – request for qualifications

+ RICS – Royal Institution of Chartered Surveyors

+ RNG – renewal natural gas

+ 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

+ YYC – Calgary International Airport




 SUGGESTIONS / COMMENTS:
 
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FACILITYCalgary
current week data

this  site is refreshed with a new issue every Tuesday morning


updated July 19, 2016




 TODAY'S HEADLINES


NEWS | ATB + BDC loan program | BREXIT rippling … | Husky $1.4 billion midstream sale | National Oilwell bought Trican completions unit | Nexen Long Lake retreat/350 lay-offs | Wolf Mistream buing 50% of Access Pipeline | Yoho Resources going private + Scott Dawson interview | upcoming events, appointments, oil sands/heavy oil + climate change + infrastructure + REIT NEWS + financing$ + charity golf tournaments + VIEWPOINT guest article by Peter Wallis  >>>>




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 Scott Dawson, Pres. & CEO @ DawsCo Coffee Service Ltd.

Last week's conversation with Mary Moran, Pres. & CEO @ Calgary Economic Development

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



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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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 CHARITY GOLF TOURNAMENTS 

+ Aug. 9-11; Priddis Greens Charity Classic, Priddis Greens Golf & Country Club, Priddis; info/register

+ Aug. 29; CanLearn golf day; Silver Springs Golf Club, Calgary; info/register

+ Aug. 31 – Sept. 4; Shaw Charity Classic, Canyon Meadows Golf & Country Club, Calgary; info/tickets

+ Sept. 12; TMX - 3rd Annual Golden Bull Charity Golf Classic, Valley Ridge Golf Club, Calgary; info/sponsor/register

+ Sept. 13; 7th Annual Gordon Hoffman Charity Golf Classic, Priddis Greens Golf & Country Club, Priddis; info/register


[send information on charity golf tournaments to:  kolke@facilitycalgary.com ]



 SAVE THE DATE / upcoming events

+ Sept. 3 – 4; 26th Annual Canmore Highland Games, Canmore; info/tickets

+ Sept. 6 - 9; World Heavy Oil Congress, Stampede Park, Calgary; info/registration

+ Sept. 8; Rea;REIT Conference, Metro Toronto Convention Centre, Toronto; info/register

+ Sept. 20-22; BOMEX/BOMA Canada's National Conference & Exhibition, Regina; 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

+ Oct. 9-13; 23rd World Energy Congress, Istanbul, Turkey; info/register

+ Nov. 14-15; Platts 20th Annual Mexican Energy Conference, Mexico City; info/register

+ Nov. 29 - Dec. 1;  Real Estate Forum & Global Property Market, Metro Toronto Convention Centre; info/register

2017

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



 CLIMATE CHANGE / LEED / RENEWABLE ENERGY  

+ The Governments of Canada and Quebec will provide $76.5 million in funding to AE Côte-Nord Canada Bioenergy Inc. for production of renewable fuel oil from forest residues; production to start in 2017




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NEWS SUMMARY 
 July 12 ~ 19  


+ AF Global Corporation agreed to acquire Managed Pressure Operations from MHWirth

+ ATB Financial and Business Development Bank of Canada are doing a JV to support $1.0 billion loans for small businesses in Alberta

+ Bank of Canada rate announcement; overnight target rate held at ½ of 1%

+ BP announced the tally is in on its 2010 Gulf of Mexico oil spill: US$61.6 billion

+ BREXIT watch: consensus is growing that cautious investors will look to the U.S. and Canada for investments while UK adjusts, Prime Minister Cameron resigned, Theresa May sworn in as new PM;

+ Brookwater Ventures Inc. changed its name to Blue Sky Energy Inc.

+ current energy prices – live link to Bloomberg energy prices; prices softened to US$45/bbl range last week on IEA inventory report concerns and OPEC (Saudi Arabia in particular) are not slowing production as earlier indicated – analysts are predicting a retreat to US$40/bbl

+ ExxonMobil is in the hunt, to takeover InterOil Corp. for tis Papua New Guinea gas fields; the bid is US$2.2 billion … tic toc

+ FACILITYCalgary OP-ED page: new article: ‘Alberta to Alaska Railway’ by Peter Wallis, Pres. @ The Van Horne Institute - click VIEWPOINT TAB

+ Fort McMurray returns to new-normal: soil sampling in burnt-out neighbourhoods safe for human health, firefighters being screened for respiratory problems, cancer clinic services resumed at the hospital, recovery committee members appointed - $4 million budget, boil-water advisory for rural areas now lifted,

+ GOA announced a clarification of its recently announced Modernized Royalty Framework – set to take effect Jan. 1/2017; acceleration will help create more jobs sooner when the drilling season starts …

+ GOA appointed members to the OSAG (Oil Sands Advisory Group)

+ Hardwoods Distribution Inc. closed its US$107 million acquisition of Rugby Architectural Building Products

+ Husky Energy Inc. formed a new entity – Husky Midstream Limited Partnership which will assume ownership of some midstream assets in the Lloydminster area; proceeds to Husky Energy $1.7 billion

+ IEA projects global energy intensity (25 yr. scope) continuing to decline

+ Kaisen Energy Corp. completed its acquistion of Hawk Exploration Ltd. 

+ Lightstream Resources Ltd. is trying to do a recapitalization plan of arrangement transaction

+ Nexen Energy Inc. announced it will lay off 350 workers at its Long Lake facility, shutting down its upgrader – and now Long Lake will be SAGD only

+ Nightingale Informatix Corporation agreed to sell its Canadian assets to TELUS Health for $14 million

+ Northern Frontier Corp. being pushed into receivership by lenders; receiver appointment pending

+ Northland Power engaged advisors and is exploring strategic alternatives to enhance shareholder value

+ Ontario Securities Commission launched its Office of the Whistleblower; up to $5 million offered to those who come forward with tips that lead to enforcement action ..

+ PetroFrontier Corp. agreed to acquire a portfolio of Cold Lake and NE Alberta assets from Kasten Energy Inc.; terms not disclosed

+ rig counts: only 98 rigs working in western Canada last week; down from 106 the week before …

+ Secure Energy Services Inc. closed its $26.7 million acquisition of 50% of its JV assets to now hold 100%

+ Strad Energy Services Ltd. agreed to acquire Redneck Oilfield Services Ltd. and Raptor Oilfield Services Ltd. in a share and cash deal valued at $30.6 million

+ Stampede was soggy; many events like Oxford Stomp got ‘mudded out’, cowboys persevered and Calgarians showed up notwithstanding torrential rains

+ TD Bank economists say Alberta’s GDP will decline 3% this year; slumping oil prices and Fort Mac wildfire cited as reasons for worst Alberta single year drop since the 80s …

+ TransCanada Corporation’s Energy East Pipeline project ($15.7 billion/4,500 km) got a nudge-forward: signing of an MOU with four major unions, pipeline contractors association and trade workers

+ Trican Well Service Ltd. closed its $35.5 million sale of its completion tools business to National Oilwell Varco Inc.

+ Wolf Midstream Inc. agreed to acquire 50% interest in Access Pipeline from Devon Energy Corp. for $1.4 billion; CPPIB is investing $825 million in the deal

+ Yoho Resources Inc. announced a going-private transaction; $31.5 million transaction value




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Birchcliff Energy Ltd. closed $690.8 million equity financing

+ Brookfield Infrastructure Fund III closed $14 billion in equity commitments

+ DXI Energy Inc. closed a final $995,800 tranche of its recent equity financing

+ Element Lifestyle Retirement Inc. is on the market to raise $709,800 in equity

+ Gensource Potash Corporation is on the market to raise $4.0 million by a flow-through equity issue

+ Hemisphere Energy Corporation closed $879,620 final tranche of flow-through equity raise

+ Madalena Energy Inc. closed $1.8 million tranche of its secured convertible debt financing

+ Petrolia Inc. closed $8.5 million equity financing

+ Petrolia Inc. closed $1.25 million flow-through shares financing

+ Pure Multi-Family REIT LP is on the market to raise $33,921,600 in equity

+ Questerre Energy Corporation is on the market to raise $3.17 million by a flow-through share and warrants offering

+ Tamarack Valley Energy Ltd. closed $8,003,200 flow-through share financing

+ Tesco Corporation closed US$47.9 million equity financing

+ West Mountain Environmental closed $520,000 convertible debt financing




 OIL SANDS AND 
HEAVY OIL NEWS 

+ GOA appointed members to the OSAG (Oil Sands Advisory Group)

+ Nexen Energy Inc. announced it will lay off 350 workers at its Long Lake facility, shutting down its upgrader – and now Long Lake will be SAGD only




 this week in REITS 


+ Morguard Corp. and Morguard REIT confirmed a lease-break settlement from Target Canada; $39.3 million for Morguard Corp, Morguard REIT and investor/co-owners; relates to 8 locations where Target went dark in Morguard properties. 6 other Morguard leases to Target were acquired by other retailers. 1 other was surrendered without settlement …

+ Pure Multi-Family REIT LP is on the market to raise $33,921,600 in equity

+ Pure Multi-Family REIT LP announced it will internalize asset management




 INFRASTRUCTURE / P3  


+ Fengate Capital Management Inc. agreed to acquired Carillion’s interest (40%) in Oakville Trafalgar Memorial Hospital P3 project to hold 90% of equity; terms not disclosed

+ more ring-road talk; Prime Minister Trudeau came to town, flipped some pancakes, said Yahoo a few times and announced funding ($582.9 million) for the SW ring road in Calgary. Same funding announced previously by the Harper government – just a photo-op with Mayor Nenshi, Chief Whitney and Premier Notley, during Stampede. Nothing in the announcements give a clear start date for the SW section, just an ‘anticipated completion date of 2021’; tic toc …




INTERESTING REAL ESTATE NEWS, other places


+ Ivanhoé Cambridge are investing $44-million to revitalize Carrefour de l'Estrie in Sherbrooke, QB

+ TIshman Speyer are now committed to launch a new development in Queens, New York; 1.1 million sq. ft. office and retail project is budgeted at US$707 million; Tishman have partnered with Qatari Diar, a sovereign wealth fund of the State of Qatar

+ Turner Construction Co. and Aecom landed the contract to build the new LA Rams Stadium in Inglewood, CA; US$2.6 billion




CORPORATE RESPONSIBILITY REPORTING

+ Cenovus made its 2016 Corporate Financial Responsibility Report public; 76 page PDF download




 KUDOS 

+ to the Staff and Volunteers of the Calgary Stampede – once again, a job well done; you put on the greatest outdoor show on earth


Unless otherwise noted, everything on this website is Copyright  Protected - © 1999 - 2025 - Mark Kolke, Publisher / MaxComm  Communications/Waterglass Press, units of PLANDflex Corporation, all rights reserved.


Our mailing address is: 6204B Burbank Road SE, Calgary, T2H 2C2, Canada

this site last updated May 6, 2025