FACILITYCalgary

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

FACILITYCalgary June28/22

CONVERSATIONS

ARCHIVED ISSUES

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Adem O’Bryne to Intern Architect @ Jackson McCormick Design Group

+ Amy Zaluski to Mgr., Intergovernmental Affairs @ Rocky View County

+ Aurelie Yetman to Project Coordinator @ ICE Western Sales

+ Barry Foster to Director @ Sylogist Ltd.

+ Brian Gerstmar to Pres. & CEO @ NORR Group of Companies

+ Eric Boehnke, Director @ Terrace Energy Corp., resigned

+ Joann Paton to Sr. Lead, Human Capital @ Deloitte

+ John Budreski, Director @ Input Capital Corp., resigned

+ Leah Commisso to Director, Organizational Change Communications @ RBC

+ Linda Goss to Sr. VP & Chief Actuary @ Economical Insurance

+ Mandy Adams to Sales Mgr., Western Canada @ Rec Media Inc.

+ Mary Cameron to Vice-Chair @ Habitat for Humanity International

+ Mathew Hills to Director @ Centric Health Corporation

+ Mike Borys to CFO @ AutoCanada Inc.

+ Nancy Brennan to Sr. VP, General Counsel & Corporate Secretary @ Keyere

+ Rich Mackett to VP Design Construction @ ONE Properties

+ Shelly MacLean to Transportation Mgr., Calgary @ Walmart Distribution Center

+ Stephen Hung to Digital Producer @ CTV Calgary

+ Terry Kuiper to COO, Canada @ Stampede Drilling Inc.

+ Tessa Brown to Sr. Technical Recruiter @ Procom

+ Tim Hodgson to Board Chair @ Hydro One Limited

+ Tony Toms to Human Capital Consultant, HR Transformation, Calgary @ Deloitte

~

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




 MEMORIAM  

+ Isadore Burstyn, holocaust survivor, investor, philanthropist and shoe merchant extraordinaire; 89

+ Thomas Molloy, Lieutenant-Governor of Saskatchewan; 78




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ is top talent burning out?

+ is cannabis still a workplace concern?




 QUOTES 

+ A wise man adapts himself to circumstances as water shapes itself to the vessel that contains it. - unknown

+ Never regret anything you have done with a sincere affection; nothing is lost that is born of the heart. – Basil Rathbone




  KUDOS  

+ to Smithbuilt Hats – celebrating 100 years making Stetsons in Calgary!

+ to Dan Hays et al for continuing the Hays Breakfast, a Stampede tradition started by the legendary Harry Hays – celebrating the 69th and final addition of a great fundraising event; word is that several prominent Calgarians may pick the torch and carry on, though hosting at Heritage Park appears doubtful … tic toc




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ ABS – Asset Backed Securities

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+ AIMCo – Alberta Investment Management Corporation

+ ASC – Alberta Securities Commission

+ AUC – Alberta Utilities Commission

+ BBL – barrel

+ BBLS/D – barrels per day

+ BIM – Building Information Modeling

+ 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

+ CCS – Carbon Capture and Storage

+ 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

+ DAB – Development Appeal Board

+ DILBIT – diluted bitumen

+ DIP – debtor in possession

+ EBITDA – earnings before interest, taxes, depreciation and amortization

+ EIA – U.S. Energy Information Administration

+ EPC – engineering, procurement and construction

+ E & P – exploration and production

+ FEED – front-end engineering and design

+ FERC – U.S. Federal Energy Regulation Commission

+ Forbearance Agreement – a short term formalized relief arrangement when loan terms are in default

+ FSR – floor space ratio

+ FTC – U.S. Federal Trade Commission

+ GJ – gigajoule

+ GLA – gross leasable area

+ GOA - Government of Alberta

+ GOM – Gulf of Mexico

+ GTA – greater Toronto area

+ GW - gigawatt

+ G&A – general and administrative

+ HOOP – Healthcare of Ontario Pension Plan

+ IEA – International Energy Agency

+ IFMA – International Facility Management Association

+ IMCO – Investment Management Corporation of Ontario

+ IPO – Initial Public Offering

+ ISO – International Organization for Standardization

+ JV – Joint Venture

+ KV – kilovolt (one thousand volts)

+ KW – kilowatt (one thousand watts)

+ LEED – Leadership in Energy and Environmental Design

+ LNG – Liquefied Natural Gas

+ LPG – Liquefied Propane Gas

+ MCF – thousand cubic feet

+ MCF/D – thousand cubic feet per day

+ mezz – mezzanine debt

+ MOA – Memorandum of Agreement

+ 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

+ OPEC – Organization of Petroleum Exporting Countries

+ P3 – Public Private Partnership

+ PADD – U.S. Petroleum Administration for Defense Districts

+ PPA – Power Purchase Agreement

+ PSAC – Petroleum Services Association of Canada

+ PSP – Public Sector Pension Investment Board

+ RECA – Real Estate Council of Alberta

+ REIT – Real Estate Investment Trust

+ RFI – request for information

+ RFP – request for proposals

+ RFQ – request for qualifications

+ ROFR – right of first refusal

+ RICS – Royal Institution of Chartered Surveyors

+ RNG – renewal natural gas

+ SAGD – steam assisted gravity drainage

+ SAIT – Southern Alberta Institute of Technology

+ S & P – Standard & Poors

+ sub – subsidiary

+ sub. – subordinated

+ tic toc – we’ll see …

+ TOD – transit oriented development

+ UDI – Urban Development Institute

+ WTI – West Texas Intermediate crude benchmark price

+ WTO – World Trade Organization

+ YYC – YYC Calgary International Airport


 weekly newsletter

Est. July, 1999


current week data

this  site is refreshed with a new issue every Tuesday


updated July 9, 2019


Editor/Publisher: Mark Kolke



 TODAY'S HEADLINES


HEADLINES: Calgary Stampede underway | Encana asset sale | FACILITYCalgary is 20! | Hays Breakfast #69 | Inter Pipeline completed Kirby North | Parmalat buys cheese | Smithbuilt at 100 | TC Energy sells Columbia Midstream + deals + rig counts + upcoming events, appointments, Golf Tournaments + REIT NEWS + financings




CONVERSATIONS

FACILITYCalgary Publisher 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:

Last week's conversation with Neil Camarta, Pres. & CEO @ Field Upgrading and former Sr. VP Oilsands @ Suncor and Royal Dutch Shell

A recent conversation with John Kenny, Founder and Exec. VP @! Yr Plans Inc. and co-founder of Solium Capital

A recent conversation with Shannon Bowen-Smed, CEO @ Bowen Group

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



 sponsors of this week's issue:

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



e-mail Grant Robinson, Managing Director, Calgary
 
RISK & INSURANCE SOLUTIONS



CONTACT US
SALES COACHING



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



CLICK HERE TO GET MARK'S HOME SEARCH APP FOR YOUR MOBILE PHONE - search any MLS listing you see, get information and/or book a showing without making a call - check it out! It's new and aVERY cool tool.

CONTACT MARK KOLKE 
RESIDENTIAL SALES



PUT YOUR 
COMPANY HERE
 Advertising/sponsorship queries:  kolke@facilitycalgary.com 
SEE YOUR 
BRAND HERE



click to contact: Trevor Winkler, Regional Managing Partner, Calgary
 
ACCCOUNTING, CONSULTING, TAX



e-mail Lance Laliberte - Sales at PREMIERE OFFICE FURNITURE
 
NEW AND USED OFFICE FURNITURE



Partner with us for your CSR or employee giving program, and join us in the global fight against avoidable blindness - e-mail Lynne Nieman, Partnerships Officer
 
SUPPORTING VISION PROJECTS WORLDWIDE



RETAINED EXECUTIVE SEARCH - For more information, click here.



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



 
DATA CENTRE

e-mail: Carol.Keen@DataHive.ca



 SAVE THE DATE - CHARITY GOLF TOURNAMENTS 

+ July 11; 17th Annual Coast Hotels Shuhachi Naito Golf Classic, Tsawwassen Springs Golf Club, Delta, BC; info/register

+ July 16; Willow Park Charity Golf Classic, Willow Park G&CC, Calgary; info/details

+ Aug. 1; SAIT Centennial Golf Classic, Priddis Greens, Priddis; info/details

+ Aug 12; Shrine Golf Tournament, Pinebrook Golf and Country Club, Calgary; details/sponsor/register

+ Aug. 13-15; Priddis Greens Charity Classic, Priddis Greens G& CC, Priddis; info/details

+ Aug. 15; CHAS (Children;s Hospital Aid Society) 37th Golf Classic, Silver Springs Golf Club, Calgary; info/registration

+ Aug. 22; BILD Calgary 2019 Industry Charity Tournament, Priddis Greens, Priddis; info/register

+ Aug. 29; Urban Measure Invitational for Cystic Fibrosis, Inglewood Golf & Curling Club, Calgary; info/register

+ Sept. 4; Little Warriors 4th Annual Golf Tournament, The Quarry, Edmonton; info/register

+ Sept. 5; 2019 Enmax BOMA Golf Tournament, Kananaskis Country GC, Kananaskis; info/register

+ Sept. 19; Basecamp Resorts/Murrieta’s 1st Annual Charity Golf Tournament, Stewart Creek, Canmore; info/register

~

[please send your charity golf event notices to:  kolke@facilitycalgary.com ]




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NEWS SUMMARY 
 July 2 ~ 9 


+ Calgary Stampede 2019 is well underway; July 5-14 – celebrating what it is to be cowboy, to be Calgarian, to be happy from pancake breakfasts through to late night hootin’ and hollerin’ … weather a bit rainy to start but not enough to put a damper on Calgary spirits … YAHOO signs do the city landscape

+ Catapult Environmental opened its Berland Complex, a water management facility near Fox Creek

+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; Alberta crude supplies down in June, OPEC and allies extended their supply cut as oversupply and slowing U.S. demand continue so prices are holding steady; meanwhile, natural gas prices have sunk to lowest level in 20 years

+ Encana Corporation sub. agreed to sell its Arkoma basin natural gas assets to an undisclosed buyer for $165.0 million

+ Fiera Capital Corporation closed its $74.0 million acquisition of Integrated Asset Management Corp.

+ FACILITYCalgary at 20 … many thanks to readers and sponsors for your support!

+ GFL Environmental Inc. agreed to acquire Canada Fibers Inc.; terms not disclosed

+ Hub International Limited acquired BenefitLink Resource Group

+ Hub International Limited acquired Berk Bilgen Insurance Ltd.

+ Inter Pipeline completed its $110.0 million Kirby North Connection project

+ Mullen Group Ltd. acquired Argus Carriers Ltd. and Inter-Urban Delivery Service Ltd.

+ Parmalat Canada Inc. closed its $1.62 billion acquisition of Kraft Heinz’s Canadian natural cheese business

+ Plains Midstream Canada announced a planned expansion of its Rangeland crude oil pipeline; expansion will expand from 50,000 to 100,000 bbl/day starting in late 2019, full capacity expected in 2021

+ rig activity in Canada

+ rig counts – U.S.: down 4 to 963 this week; Canada: down 4 to 120 this week; full breakdown

+ Sun Life Financial Inc. completed its acquisition of a majority stake in BentallGreenOak

+ TC Energy Corp. agreed to sell its U.S. midstream asset Columbia Midstream Group to UGI Energy Services LLC for $1.7 billion

+ TransMountain Pipeline expansion facing more challenges from environmental groups; filing in Federal Court of Appeal by Raincoast Conservation Foundation and Living Oceans Society asking leave to appeal the approval of project’s




THIS WEEK IN FINANCINGS 
- proposed & closed

+ ARC Financial Corp. closed its ARC Energy Fund 9 with a $780.0 million equity raise

+ CellCube Energy Storage Systems Inc. is on the market to raise $10.0 million in equity by private placement

+ Fairstone Financial Inc. closed US$300.0 million sr. debt financing

+ Fiera Capital Corporation closed $100.0 million unsecured sr. sub debt

+ SQI Diagnostics Inc. is on the market to raise $2.0 million in equity by private placement

+ TeraGo Inc. closed $8.9 million equity financing

+ WeWork Cos. Is on the market to raise US$3.0 billion in debt

~

*editor’s note: names companies involved in debt financing transactions we report in this section are ALWAYS the borrower; we report ‘fresh raises’ and do not report secondary offerings …




 INFRASTRUCTURE / P3  


+ Calgary city council wrangling with progress of the Green Line LRT project staging; $4.65 billion project is being broken into two contracts – the easy phase and the tough one. The tough one is the downtown/cross the river part of the equation; engineers, managers, consultants and council members are divided on which way to go, when and councillors are divided on whether to push ahead with first phase or stall … which would be funny to watch if it was a sitcom, expect it isn’t … tic toc

+ Calgary Flames aren’t talking, neither is anyone at city hall – but negotiations on a new arena to replace the Saddledome are reported to be continuing.

+ Foothills Medical Centre opened its new 950 space parking facility




 CONSTRUCTION NEWS + INNOVATION 

+ Brook Restoration acquired Wall-Tech

+ eight of Frank Lloyd Wright’s buildings made the UNESCO World Heritage List

+ world’s tallest modular building tops off – 40-storye towers in Singapore




 SAVE THE DATE / upcoming events

+  July 1-8; Climate Innovation Forum 2019; London, UK; info/register

+ July 5 – 14; Calgary Stampede, Stampede Park; info/tickets

+ July 12; Oxford STOMP, Shaw Millennium Park; info/tickets available April 18th…

+ July 23; Policy & A Pint, U of C School of Public Policy, Junction YYC, Calgary; info/tickets

+ Sept. 2-4; World Heavy Oil Congress & Exhibition, Oman Convention Centre, Muscat, Oman; info/register

+ Sept. 9-11; BOMEX 2019, St. John’s, Nfld.; info/sponsor/register

+ Sept. 14; Cerebral Palsy Association, Life Without Limits Challenge, Rotary Challenger Park, Calgary; info/register

+ Sept. 17-19; Gastech Exhibition & Conference, Houston, Texas; info/registration

+ Sept. 17-19; Canadian Association of Professional Landmen (CAPL), 2019 Conference, Calgary; info/register

+ Sept. 19; Uncorking Potential fundraiser (formerly known as the Peter Gzowski Invitational) for canLEARN Society, Fort Calgary, Calgary; info/tickets

+ Oct. 1; Workforce Choice Awards, Jack Singer Concert Hall, Calgary; info/tickets

+ Nov. 6; Calgary Real Estate Forum, TELUS Convention Centre; info/register

+ Nov. 11; ADIPEC – Abu Dhabi International Exhibition and Conference; info/book space in Canada pavilion

+ Nov. 20-24; 2019 Grey Cup Festival; tickets/information


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



 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ CPPIB agreed to sell its Liberty Living unit to The Unite Group plc for $1.3 billion; CPPIB will retain 20% interest in a new JV it formed with The Unite Group plc

+ Deutsche Bank cutting 18,000 jobs worldwide; restructuring costs pegged at US$8.3 billion




 SHAREHOLDER MEETINGS

+ July 11; Emera Inc., Special Meeting of Shareholders, Halifax

+ July 23; WestJet Airlines Ltd., Special Meeting of Shareholders, Calgary

+ Aug. 6; Echelon Financial Holdings Inc., Annual General Meeting, Toronto

~

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




 TECH Corner ...  

+ KKR acquired Corel; terms not confirmed but ‘over $1.0 billion’




 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ Jason Kenny’s UCP government scrapped the NDP’s renewable electricity plan; subsidies for renewable power producers seem to be history …




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