FACILITYCalgary

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

FACILITYCalgary June28/22

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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 Sam Barua , Engineering Mgr. Oil & Gas @ WSP Group

Last week's conversation with Areni Kelleppan, Exec. Dir. @ Green Calgary

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



SHAKERS AND MOVERS 
moving, retired, resigned, died or got the boot

+ Bill Webb, Exec. VP & Chief Investment Officers @ Gluskin Sheff + Associates Inc., retiring

+ Charlie Proulx to Sr. VP @ Xtreme Drilling and Coil Services Corp.

+ Daryl Gilbert to Director @ Whitecap Resources Inc.

+ Derek Slemko to Interim CFO @ Aston Hill Financial Inc.

+ Donald Fowlis, CFO @ Gibson Energy Inc., retiring

+ Eric Tremblay, Founder & CEO @ Aston Hill Financial Inc., stepping down

+ Hong Luo to CEO @ Sunshine Oilsands Ltd.

+ Ian McAuley to Exec. VP Asset Mgmt. @ American Hotel Income REIT LP

+ James Scptt tp VP Planning @ PBA Land & Developments

+ Jane Domenico to Pres. & CEO @ Partners REIT

+ Larry Titley, CFO @ Aston Hill Financial Inc., resigned

+ Matt Porter to Pres. & CFO @ Xtreme Drilling and Coil Services Corp.

+ Nicholas Thadaney to Pres. & CEO Global Equity Markets @ TMX Group Limited

+ Patrick Moriarty to CFO @ DirectCash Payments Inc.

+ Peter Anderson to Interim CEO @ Aston Hill Financial Inc.

+ Peter Mann to Co-Chief Investment Officer @ Gluskin Sheff + Associates Inc.

+ Peter Zaltz to Co-Chief Investment Officer @ Gluskin Sheff + Associates Inc.

+ Ron Wigham to Director @ Zargon Oil & Gas Ltd.

+ Will Van Horne to Partner, Calgary @ McMillan LLP


BOARDROOM changes, purges, appointments etc.

+ Andrew Reardon to Chairman @ Canadian Pacific

+ Ian Bourne to Director @ Hydro One Inc.




 SAVE THE DATE / upcoming events

+ Sept. 28-29; 10th Annual Pipeline Development & Expansion Conference, Houston; agenda - info/register

+ Oct. 27; Calgary Real Estate Forum, TELUS Convention Centre, Calgary

+ Oct. 27 – 30; 28th Annual Gastech Conference & Exhibition, Singapore info/registration

+ Oct. 29; 2015 Economic Developers Alberta - Ministry Dinner, Matrix Hotel, Edmonton, info/register

Oct. 29-30; IEDC Workforce Development Strategies, Matrix Hotel, Edmonton; info/register

+ Feb. 26/2016; BUILDEX Vancouver, Vancouver Convention Center, Vancouver

+ Feb. 26/16; BUILDEX Vancouver, Vancouver Convention Center, Vancouver


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



 SAVE THE DATE / GOLF TOURNAMENTS


+ Aug. 13; 10th Annual CREW Golf Tournament, Sirocco Golf Club, Calgary; info/register
+ Aug. 17; 16th Annual Special Olympics Calgary Golf Classic, Country Hills GC .. details later
+ Aug. 20; 17th Annual CREB Charitable Foundation, Building Hope Charity Golf Tournament, Blue Devil Golf Club, Calgary




INTERESTING REAL ESTATE NEWS, other places


+ Boardwalk REIT agreed to sell its Windsor, ON property portfolio (1,685 units) for $136,200,000

+ John Hancock div. of Manulife Financial Corp. acquired a nine-building commercial portfolio and two residential communities in Dan Diego; price not disclosed

+ Woodfine Capital Projects launched four non-listed commercial Real Estate Funds; professional offices, light industrial, retail and suburban office. Woodfine Suburban Office LP agreed to purchase a commercial site in Sherwood Park, AB to develop 100,000 – 300,000 sq. ft. of office space with LEED Core and Shell standards …




 OIL SANDS NEWS 

+ Hong Luo to CEO @ Sunshine Oilsands Ltd.

+ Husky Energy started production at its Rush Lake heavy oil thermal project in Saskatchewan; 10,000 barrels/day within eight weeks of starting steam operations

+ Ivanhoe Energy Inc.’s receiver KPMG put the defunct company’s assets (oil sands leases, patents and tax pools) on the market for sale

+ Nexen Energy ULC suffered a 5 million litre emulsion leak from a pipeline rupture near its Long Lake facility SE of Fort McMurray; cleanup is underway under strict scrutiny by AER (Alberta Energy Regulator)

+ Suncor et al are doing a pilot project to reduce greenhouse gas emission at its Dover site north of Fort McMurray ; Enhanced Solvent Extraction Incorporating Electromagnetic Heating (ESEIEH .. or easy); partners are Devon, Nexen, Suncor, Harris 




 QUOTES

+ Life is not a problem to be solved, but a reality to be experienced. – Soren Kierkegaard

+ We do no remember days, we remember moments. – Cesare Pavese




 SUGGESTIONS / COMMENTS:
 
feedback@facilitycalgary.com

FACILITYCalgary
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updated ... July 21, 2015




 TODAY'S HEADLINES


Aston Hill shakeup | Bank of Canada rate change | Boardwalk sale | CAPP Natural Gas Forecast | Greek crisis averted … for now | Nexen spill | Rush Lake startup + Sam Barua interview | upcoming events & corp. meetings + climate change & infrastructure news + REIT news +  financings + executive and board appointments >>>>




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 KUDOS 

+ to TransCanada Corporation – they hit the 1 billion barrel milestone for crude oil shipped on the Keystone Pipeline System




 sponsors of this week's issue:

WCBC - SkyCubes - 51st Floor Suncor Energy Centre
BUSINESS CENTERS



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 SHAREHOLDER MEETINGS

+ July 21; Sunshine Oilsands Ltd., Special General Meeting, Hong Kong

+ July 27; Mapan Energy Ltd., Annual and Special Meeting of Shareholders, Calgary

+ July 28; Pacific Rubiales Energy Corp

+ Aug. 24; Sequa Petroleum N.V., Extraordinary General Meeting of Shareholders, Amsterdam

+ Sept. 29; Deep Well Oil & Gas Inc., Edmonton

+ Jan 13/16; Groundstar Resources Limited, Calgary


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



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NEWS SUMMARY 
 July 14 - 21 


+ Aston Hill Financial Inc., closing down its Calgary operations; will operated from Toronto & Halifax

+ ATB – daily economist’s outlook

+ Bank of Canada lowered its overnight rate target to 1/2% (0.5%)

+ B.C. Government put a law in place their finance minister says is a ‘blueprint for largest private investment deal’ in B.C. history; $36 billion Pacific NorthWest LNG (Petronas backed JV) project now has a legislative green light and a 25 yr. tax holiday … that’s a lot

+ Blackline GPS changed its name to Blackline Safety

+ Boardwalk REIT agreed to sell its Windsor, ON property portfolio (1,685 units) for $136,200,000

+ Canadian premiers and territorial leaders unanimously agreed to have a Canadian Energy Strategy; but light on details – mostly agreement that they should have one … tic toc .. as memories of Alison Redford being shot down for trying to do the same thing two years ago …

+ Canamax Energy Ltd. closed its $24.3 million acquisition of Grande Prairie and Grimshaw area assets from Storm Resources Ltd.

+ CAPP issued its 2015 Natural Gas Forecast & LNG Report

+ chartered banks lowered their prime lending rates in response to the Bank of Canada rate announcement: CIBC, Desjardins Group, Equitable Bank, Laurentian Bank, National Bank, RBC Royal Bank, Scotiabank & TD Canada Trust to 2.70%,

+ current energy prices – live link to Bloomberg energy prices 

+ Greek banks re-opened after three weeks shut: rescue back-on-rails as German parliament approved participation in funding the bailout; still a big question whether Greek citizens will support deepened austerity plans

+ High North Resources Ltd. completed their ‘shares for debt’ reorganization

+ Husky Energy started production at its Rush Lake heavy oil thermal project in Saskatchewan; 10,000 barrels/day within eight weeks of starting steam operations

+ Infinito Gold Ltd. ceasing operations, unable to pay $90.1 million in debt; all directors and officers resigned

+ Ivanhoe Energy Inc.’s receiver KPMG put the defunct company’s assets (oil sands leases, patents and tax pools) on the market for sale

+ Kelt Exploration Ltd. re-organizing/re-designing the company into Alberta and BC business units to better suit potential suitors …

+ Nexen Energy ULC suffered a 5 million litre emulsion leak from a pipeline rupture near its Long Lake facility SE of Fort McMurray; cleanup is underway under strict scrutiny by AER (Alberta Energy Regulator)

+ New Star Energy Ltd. completed its takeover by Sinoenergy Pacific Corp.; new/continuing entity is wholly-owned by Sinoenergy and will continue to operate as New Star Energy Ltd.

+ Northern Frontier Corp. agreed to acquire the construction operations of Black Diamond Group Limited

+ Platino Energy Corp. completed its amalgamation with 1901558 Alberta Ltd; merged entity to operate as Colombia Oil and Gas Subsidiary Ltd.

+ Schneider Electric agreed to sell its industrial software unit to Aveva; complex share swap deal worth US$857.7 million, gives Schneider a 53.5% interest in Aveva ..

+ Scotiabank agreed to acquire Citigroup’s retail and commercial operations in Panama and Costa Rica

+ Shaw Communications is planning a new Calgary state-of-the-art data centre in conjunction with ViaWest to serve its own and 3rd party users; to open fall/2015

+ Sun Life signed a deal with University of British Columbia Faculty Pension Fund to manage $2 billion in assets

+ The Caldwell Partners International Inc. rejected the unsolicited takeover proposal made by DHR International; DHR continues rattling .. tic toc ..

+ Toro Oil & Gas Ltd. closed its first tranche ($8 million) of a production volume royalty deal with Source Rock Royalties Ltd.

+ Westcore Energy Ltd. agreed to acquire 100% of the oil & gas interests of 49 North Resources Inc. and Allstar Energy Limited; aggregate price is $3 million




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Artisan Energy Corporation is on the market to raise $2 million in equity

+ Innergex Renewable Energy Inc. is on the market to raise $100 million in convertible debt

+ InnVest REIT closed $42 million equity financing

+ Nabors Industries Ltd. secured $2.2 billion credit facility

+ Royal Bank of Canada is on the market to raise $150 million by a preferred share issue

+ Sleep Country Canada closed $300,050,000 IPO

+ Stuart Olson Inc. secured $175 million credit facility




 this week in REITS 


+ Boardwalk REIT agreed to sell its Windsor, ON property portfolio (1,685 units) for $136,200,000

+ Edgefront REIT agreed to acquire a 29,471 sq. ft. single-tenant Calgary cross-dock facility for $22 million

+ Ian McAuley to Exec. VP Asset Mgmt. @ American Hotel Income REIT LP

+ InnVest REIT closed $42 million equity financing

+ Jane Domenico to Pres. & CEO @ Partners REIT




 INFRASTRUCTURE / P3 / GREEN


+ Banff National Park is getting $117.5 million for TransCanada highway paving and other infrastructure upgrades

+ City of Calgary will upgrade/renovate the 8th Street underpass; lights, art, a paint job .. and a little $8.8 million price tag. Yikes …

+ Hydro-Quebec issued a tender call for provision of wind power generation to feed into its grid 




 CLIMATE CHANGE / ENVIRONMENT
 IN THE NEWS 

+ Suncor et al are doing a pilot project to reduce greenhouse gas emission at its Dover site north of Fort McMurray ; Enhanced Solvent Extraction Incorporating Electromagnetic Heating (ESEIEH .. or easy); partners are Devon, Nexen, Suncor, Harris 


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