FACILITYCalgary

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

FACILITYCalgary May 6/25

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 QUOTES

+ Ethics is knowing the difference between what you have a right to do and what is right to do. – Potter Steward

+ Opportunity is missed by most people because it is dressed in overalls and looks like work. – Thomas Edison




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

+ Al Miller, Pres. & COO, Commercial Systems Group @ Stuart Olson Inc., retiring

+ Charles Mathews to CFO @ Enssolutions Group Inc.

+ David Weyant to Director, Insurance and COO @ Alberta Lawyers Insurance Association

+ Greg Condon to VP Operations @ Element Lifestyle Retirement Inc.

+ Ilias Konstntopoloulos to CFO @ Granite REIT

+ Jamie Scarlett to Exec. VP & Chief Legal Officer @ Hydro One Inc.

+ Keith Creel to Pres. & CEO @ Canadian Pacific Railway, July 1/17

+ Mario Grauso to Pres. @ Holt Renfrew and Co. Limited

+ Penny Shebaylo to Bus. Dev. Mgr. @ HBI Heritage Business Interiors

+ Peter Forde to Pres. @ SmartREIT

+ Sam Shaw to Pres. @ Yellowhead Tribal College


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




BOARDROOM changes, purges, appointments etc.

+ Ember Shmitt to Director @ High Arctic Energy Services Inc.


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




 SHAREHOLDER MEETINGS

+ 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 ]



 CLIMATE CHANGE / LEED / RENEWABLE ENERGY  

+ Alterra Power Corp. agreed to acquire 80% interest in two – 20MW solar farms in the U.S. Midwest from Inovateus Solar LLC; terms not disclosed

+ The Alberta Storage Alliance (ASA) has been launched. Consortium of private sector energy experts advancing deployment of energy storage technologies across Alberta; BYD, Enercon, ENMAX, General Electric, NRStor, Opus One Solutions, RES, Rocky Mountain Power, S&C Electric,Temporal Power, and UniEnergy Technologies




  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




 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 ]

FACILITYCalgary
current week data

this  site is refreshed with a new issue every Tuesday morning


updated July 26, 2016




 TODAY'S HEADLINES


NEWS | Brookfield signs big Scotiabank lease | ConocoPhillips layoffs | crude at 3-month low | ExxonMobil buying Interoil | GOA suing power producers | Husky spill | Pembina rail facility | Raging River buys Rock | TORC asset buy + Lorraine Card 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 Lorraine Card, Pres. & CEO @ Alberta Motor Transport Association

Last week's conversation with Scott Dawson, Pres. & CEO @ DawsCo Coffee Service Ltd.

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



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 sponsors of this week's issue:

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COMMERCIAL INTERIOR CONSTRUCTION



CONTACT PIVOTAL
 
PROJECT MANAGEMENT



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



CONTACT DAWSCO
 
COFFEE SERVICES



e-mail to Sharon Martens
 
INTERIOR DESIGN



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 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 ]



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NEWS SUMMARY 
 July 19 ~ 26  


+ Brexit watch: investors outside the UK are taking a ‘wait and see’ approach; shares in real estate companies are down (maybe a good time buy??), European investors wishing to exit the UK are looking at U.S. and Canadian assets …

+ Brookfield Canada Office Properties announced a big deal; 140,000 sq. ft. lease commitment from Scotiabank to move to Brookfield Place Calgary East tower; now at 81% leased; 56-storey tower is due to be completed in late 2017

+ CFF Bank is changing its name to Home Bank/Banque Home

+ ConocoPhillips announced they will lay-off 1,000 employees; 300 of those jobs are in Calgary

+ current energy prices – live link to Bloomberg energy prices; prices for crude continue to languish downward (Brent at US$44.75/WTI US$43.11 yesterday) – some analysts say it is a ‘refinery correction’ as markets are oversupplied with gasoline

+ ExxonMobil agreed to acquire InterOil Corp. for tis Papua New Guinea gas fields; the bid is US$2.5 billion

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

+ Gibson Energy Inc. engaged advisors to explore sale of its industrial propane business

+ GOA is taking legal action on Power Purchase Agreements; claiming the ‘Enron clause’ was in appropriately inserted in contracts 1996 - 2000 (ones power producers have been opting out of); this issue is clearly headed for a lengthy legal battle … tic toc

+ Horizon North Logistics Inc. agreed to acquire Empire Camp Equipment Ltd. for $44.5 million

+ Husky Energy Inc. experienced a spill near Maidstone, SK; 1,570 barrels of crude leaked into the North Saskatchewan River has not been contained; risks to domestic water for Prince Albert and other communities

+ LNG in the news: Royal Dutch Shell’s Maran Gas Apollonia will carry the first LNG through the newly expanded Panama Canal this week

+ Pembina NGL Corporation is proposing to build a Redwater rail yard facility project to handle product from its Redwater Fractionation and Storage operation

+ PetroFrontier Corp. closed its $17.49 million acquisition of Kasten Energy Inc. [last week I reported this transaction as ‘the other way round’ … oops…sorry PetroFrontier]

+ Raging River Exploration Inc. got shareholder and court approval, and closed its acquisition of Rock Energy Inc.

+ rig counts are up: 115 rigs working in Western Canada, up from 100 last week

+ Rock Energy Inc. got shareholder approval of its arrangement with Raging River Exploration Inc.

+ Tamarack Valley Energy Ltd. closed its $25.8 million acquisition of a Redwater area portfolio

+ Tesla Exploration Ltd. is in default with its lender; Ernst & Young appointed receiver, board members all resigned

+ TORC Oil & Gas Ltd. agreed to acquire a portfolio of SE Saskatchewan light oil & liquids assets for $89.5 million from Zargon Oil & Gas Ltd.

+ Transportation Safety Board is accelerating removal from services of higher-risk DOT-111 tank cars used in crude oil transportation




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Agellan Commercial REIT is on the market to raise $39,975,000 in equity

+ Brookfield Infrastructure Partners LP closed $200 million preferred equity financing

+ Clearview Resources Ltd. is on the market to raised $5.0 million equity financing

+ Inovalis REIT closed $46 million equity financing

+ Keyera Corp. is on the market to raise $300 million sr. unsecured debt

+ Laurentian Bank of Canada closed $155,397,660 equity financing

+ NorthWest Healthcare Properties REIT closed $74.75 million convertible debt financing

+ NorthWest Healthcare Properties REIT closed $66.45 million equity financing

+ NorthWest Healthcare Properties REIT closed its $25.7 million acquisition of a Hospital Ifor in Brazil

+ TORC Oil & Gas Ltd. is on the market to raise $111.3 million in equity

+ True North Commercial REIT closed $9.25 million equity financing

+ True North Commercial REIT closed its acquisition of 64,000 sq. f.t office building in Mississauga (6865 Century Ave.) for $13.4 million




 OIL SANDS AND 
HEAVY OIL NEWS 

+ Suncor Energy Inc. released its 2016 Report on Sustainability




 this week in REITS 


+ Agellan Commercial REIT is on the market to raise $39,975,000 in equity

+ AIMCo increased its interest in WPT Industrial REIT to 30%

+ Ilias Konstntopoloulos to CFO @ Granite REIT

+ Inovalis REIT closed $46 million equity financing

+ NorthWest Healthcare Properties REIT closed $74.75 million convertible debt financing

+ NorthWest Healthcare Properties REIT closed $66.45 million equity financing

+ Mohawk Medical Properties REIT acquired two medical office buildings in Orlando, Florida; combined buildings total 60,000 sq. ft.

+ Peter Forde to Pres. @ SmartREIT

+ RioCan REIT agreed with CPPIB to acquire their interest in four properties, currently co-owned; RioCan will purchase CPPIB's 50% interest for $352 million, to hold 100% (Grandview Corners, Surrey; RioCan Meadows, Edmonton; RioCan Beacon Hill, Calgary; RioCan Centre Burloak, Oakville)

+ True North Commercial REIT closed $9.25 million equity financing




 INFRASTRUCTURE / P3  


+ Fiera Capital Corporation finalized a JV with transaction with Aquila Infrastructure Management, creating Fiera  Infrastructure Inc.; had invested $500 million

+ Kineticor Resources Corp. announced it will build a 100MW Peace River Power plant; $100 million facility will be operational in 2nd half of 2017 and will be fired with natural gas produced by heavy oil producers in the Peace River area




INTERESTING REAL ESTATE NEWS, other places


+ Brookfield Asset Management Inc. is investing US$1.0 billing in a JV with State Bank of India to acquire distressed assets in India

+ San Diego Port Authority Commission has approved a 70-acre US$1.2 billion waterfront project, to be anchored by a 480-ft. observation tower; construction to begin in 2010+




CORPORATE RESPONSIBILITY REPORTING

+ Suncor Energy Inc. released its 2016 Report on Sustainability




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this site last updated May 6, 2025