FACILITYCalgary

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

FACILITYCalgary May 27/25

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 MARK KOLKE'S CONVERSATIONS

Mark Kolke interviews interesting Calgarians - to catch a glimpse of what drives them, how they see the world and what they see in Calgary's future:
 
This week's conversation with Russ Dantu , Pres. of Synergy Apparel & Solutions, public speaker, coach ...
 
Last week's conversation with Catherine Ford ... editorialist, opinionated author
 

Archived conversations 



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 SHAREHOLDER MEETINGS

 

+ July 15; Partners REIT, Annual and Special Meeting of Unitholders, Toronto
+ July 16; IBI Group Inc., Special Meeting of Debentureholders, Toronto
+ Aug. 6; Cannacord Genuity Group Inc., Annual General Meeting, Toronto
+ Sept. 17; Deep Well Oil & Gas Inc. , Shareholder Meeting, Edmonton
+ Sept. 24; Bengal Energy Inc. , Annual Meeting, Calgary
+ Sept. 30; Shoreline Energy Corp. , Annual Meeting, Calgary
 
[send event notices to:  kolke@facilitycalgary.com ]



 SAVE THE DATE / upcoming events

 

+ July 4 – 13; 2014 – Calgary Stampede  
+ Oct. 23; Calgary Real Estate Forum , TELUS Convention Centre, Calgary
+ Nov. 5-6; BUILDEX Calgary , BMO Centre, Stampede Park, Calgary
 
[send event notices to:  kolke@facilitycalgary.com ]



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

 

+ Allan Carr, Sr. VP @ Midwest Property Management, retired
+ Bob Stinn to Pres. @ Magnum Energy Inc.
+ Bruce Burrell, Calgary Fire Chief and Director of Calgary Emergency Management Agency, retiring
+ David Jackson, CEO @ Super Nova Petroleum Corp., resigned
+ Derrick Armstrong, Counsel @ Borden Ladner Gervais LLP, retired
+ Dr. Andrew Neuner to CEO @ Health Quality Council of Alberta
+ Hans Reidl to VP Finance @ Economical Insurance
+ Ian Hogg, VP Corporate Affairs @ Petrowest Corporation, retired
+ Keith Godwin to VP & CFO @ Terrace Energy Corp.
+ Max Murray to Country Manager, New Zealand @ TAG Oil Ltd.
+ Max Weis to VP Corp. Dev. @ Economical Insurance
+ Michael Hill to CFO @ Cathedral Energy Services Ltd.
+ Randy Toone to COO @ CSV Midstream Solutions
+ Richard Nemeth, Pres. & CEO @ Magnum Energy Inc., resigned
+ Ryan Lewenza to Private Client Strategist, Canada @ Raymond James Ltd.
+ Terrance McKibbon to Pres. & CEO @ Aecon Group Inc.
+ Wolf Wiese to Interim CEO @ Super Nova Petroleum Corp.
 
[send us your appointment notices  kolke@facilitycalgary.com 



BOARDROOM CHANGES, PURGES, APPOINTMENTS etc.

 

+ David Kushnirul to Director @ Nwest Energy Corp.
+ Ed McClelland, Director @ The Cash Store Financial Services Inc., resigned
+ Gordon Reykdal, Director @ The Cash Store Financial Services Inc., resigned
+ Jim Morgan, Director @ Nwest Energy Corp., resigned
+ Howard Mayson to Direcor @ Encana Corporation
+ Pierre Jungels, Director @ Gasfrac Energy Services Inc., resigned
+ Robert McBean to @ Gasfrac Energy Services Inc.
+ Steve Dean, Director & Chairman @ Infinito Gold Ltd., resigned
+ Songning Shen, Director @ Sunshine Oilsands Ltd., resigned
+ Wazir Chand Seth, Director @ Sunshine Oilsands Ltd., resigned



INTERESTING REAL ESTATE NEWS OTHER PLACES


 

+ Holloway Lodging Corp. acquired control of St. John’s, NFLD Super 8 Hotel
 
+ American Hotel Income Properties REIT LP closed its acquisition of three hotels in North Carolina and Georgia
 
+  Imperial Equities Inc. closed its acquisition of a newly constructed industrial building and residual lands in Fort McMurray for $19,400,000
 
+ Temple Hotels Inc. closed its acquisition of two Days Inn Hotels in Thunder Bay



 QUOTES

 

“Derivatives are financial weapons of mass destruction.” – Warren Buffett 
 
“Even if you’re on the right track, you’ll get run over if you just sit there.” – Will Rogers



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FINANCINGS - proposed & closed

 

+ AltaGas Ltd. closed $200 million preferred share issue
+ Arsenal Energy Inc. closed $7.47 million equity financing
+ Butte Energy Inc. is on the market to raise $16 million in equity
+ Ceiba Energy Services Inc. is on the market to raise $12 million in equity
+ Canadian Energy Services & Technology Corp is on the market to raise $75 million
+ CO2 Solutions Inc. closed $2.19 million first tranche of an equity financing
+ Edgefront REIT is on the market to raise $17,500,000 in equity
+ EmberClear Corp. is on the market to raise $2 million in equity
+ Granite REIT closed $250 million sr. debt financing
+ Madelena Energy Inc. closed $7.5 million overallotment of its recent equity financing
+ NWest Energy Corp. closed $282,246 equity financing
+ Peyto Exploration & Development Corp. closed $50 million sr. unsecured debt financing
+ Stream Oil & Gas Ltd. is on the market to raise $5 million in debt
+ Terrace Energy Corp. is on the market to raise $20 million equity financing
+ Tanager Energy Inc. closed $600,000 first tranche of its equity financing
+ Trident Resources Corp. closed $95 million secured debt financing
+ Twin Butte Energy Ltd. is on the market to raise $3.3 million in equity



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 TODAY'S HEADLINES


Caracal takeover approved | Kelt closed $165 million buy | Enerflex busy AXIP US$430 million | Mapan snares Shell assets | conversation with Russ Dantu + new financings >>>>



NEWS SUMMARY 
   July 1 - 8  


 

+ Ammonite Corrosion Engineering Inc. and Cormetrics Limited merged with O’Rourke Engineering Ltd.
+ ATB Financial – THE OWL … Daily Economic Comment
+ AutoCanada Inc. closed its acquisition of six Calgary auto dealerships from the Hyatt Automotive Group Inc.
+ Bank of Canada released its Business Outlook Survey – Summer Issue and Senior Loan Officer Survey
+ Calfrac Well Services Ltd. increased its 2014 CapEx Budget to $360 million
+ Calgary Stampede in full swing … parties, breakfasts, sleep deprivation and the chucks!
+ Caracal Energy Inc.’s takeover by Glencore Plc got approval from Investment Canada
+ Cequence Energy Ltd. closed $141 million Ansell asset sale
+ current energy prices: live link to Bloomberg.com commodities data ; crude slipped below US$104/barrel as Libya boosts exports
+ Enbridge Inc. and Enterprise Products Partners LP completed their 512 mile twin-loop Seaway Pipeline
+ Enerflex Ltd. closed its acquisition of Axip Energy Services LP for US$430 million
+ Exxon Mobil Corporation announced it will invest US$1 billion to upgrade and expand its Antwerp refinery
+ Holloway Lodging Corporation closed its acquisition of Royal Host Inc. (includes 17 hotels, development parcels and Travelodge and Thriftlodge flags)
+ Kelt Exploration Ltd. closed its $165 million Montney assets acquisition
+ Legacy Oil + Gas Inc. closed its acquisition of Corinthian Exploration Corp.
+ Mapan Energy Ltd. agreed to acquired a portfolio of deep basin oil & gas assets in Alberta and BC from Royal Dutch Shell Plc for $132.5 million
+ McCoy Corporation changed its name to McCoy Global
+ Newton Energy Corporation agreed to sell its UK sub. to Hutton Energy Plc
+ Paris Energy Inc. agreed to acquire Mapan Energy Ltd.
+ SilverWIllow Energy Corporation reduced its staff and continues looking for strategic alternatives
 + Sturgeon Refinery cost over-runs (Alberta Government share is $7 billion) in the news as PC leadership candidates all agree to suck it up …
+ Trident Resources Corp. sold 10% of its Canadian operations for $107 million



 STRANGE STUFF CORNER


+ in answer to my query last week about drop-downs, here’s the answer – provided by Jennifer Hanna at MNP LLP: I read your "Strange Stuff" column this morning about the "drop down" transaction and thought this might be helpful...  Usually a drop down is used for a few different reasons: 1) makes the assets easier to package and sell later on (and may give a better tax result), 2) if a limited partnership is used it can ring-fence liability for the dropped-down assets, reducing the chances of the parent company getting sued and losing its other assets if something goes wrong with the new assets, and 3) can refresh "successored" tax pools for newly acquired oil and gas assets (oil and gas related exploration and development expenses) associated with oil and gas properties, making it easier to claim deductions against production from different assets...   Lots of companies drop assets into separate subsidiary companies for liability purposes.  Using partnerships does much the same thing but is often more tax effective. Up until a few years ago there was also a tax strategy called a "deferral partnership" but these aren't done any more. Not sure if any of these was the reason for that particular drop down.  It's usually pretty routine so not usually something that companies send out a press release for.




 INFRASTRUCTURE / P3 / GREEN


 

+ Enmax’s 800Megawatt Shepard Energy Centre delayed; target of Dec./14 extended to June 30/15
 
+ City Council revisiting its decision to close and redevelop McCall Lake golf course lands .. tic toc
 
+ Elbow Park School flood-damage restoration now estimated at $16.5 million
 
+ the Government of Canada kicked in $9 million when it transferred the Canso Causeway (and swing bridge) to the government of Nova Scotia



 CHARITY GOLF TOURNAMENTS 


 

+ July 10; Coast Hotels 12th Annual Golf Classic, Westwood Plateau, Coquitlam, BC info/register
+ Aug 18; Special Olympics Calgary Golf Classic, Country Hills Golf & Country Club – save the date
+ Sept. 18-19; 25th Annual Peter Gzowski Invitational Golf Tournament for Literacy [gala on the 18th, golf day on the 19th), The Hamptons Golf Club, info/register
 
[send us your charity golf tournament information to:  kolke@facilitycalgary.com ]



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this site last updated May 27, 2025