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FACILITYCalgary June28/22

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Alan Aitchison to COO @ Oronova Energy Inc.

+ Beverley McLachlin, Chief Justice @ Supreme Court of Canada, retiring

+ Britt Reynolds, Pres, CEO & Director @ Medical Facilities Corporation, resigned

+ Charlene Ripley to Director @ Keyera Corp.

+ Cheryl Grant to Director @ Consolidated Firstfund Capital Corp.

+ Cody Clayton to Director @ Prostate Cancer Centre

+ David Toews to Interim CFO @ Pivot Technology Solutions Inc.

+ Edward Brown, Exec. VP Finance & CFO @ Bellatrix Exploration Ltd., retiring

+ Frances McGuire, Director @ Industrial Alliance Insurance and Financial Services Inc., resigned

+ Frank Newbound to Director @ Firm Capital Mortgage Investment Corporation

+ Harold Gordon, Director @ Dundee Energy Limited, resigned           

+ James Tutton, Director @ Consolidated Firstfund Capital Corp., resigned

+ Jeanhy Shim to Director @ Waterfront Toronto

+ Jean-Philippe Lemay to Pres. & COO @ Fiera Capital Corporation

+ Jeffrey Lozon, to Interim CEO @ Medical Facilities Corporation

+ Jesse Buhler to VP Property Mgmt. @ Beedie Development Group

+ John Cooper to Pres. & CEO @ Tervita Corporation

+ Katherine Vyse, Director @ Mainstreet Health Investments, stepped down

+ Mark Marquis to Chief Corporate Dev. Officer @ Brookfield Global Integrated Solutions

+ Max Lof to Exec. VP & CFO @ Bellatrix Exploration Ltd.

+ Qi Tang to CFO @ RioCan REIT

+ Raj Pate to VP Marketing and Risk Management @ Oronova Energy Inc.

+ Scott Neate to VP Finance @ Oronova Energy Inc.

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




 SAVE THE DATE / upcoming events


+ June 13 - 15/2017; Global Petroleum Show, Stampede Park, Calgary; info/save the date

+ June 17; Breakfast on the Bridge, Peace Bridge @ 5AM, Calgary, info/tickets - call 403-410-2320 ext. 3591 or visit calgarymfrc.ca

+ July 7 - 16; Calgary Stampede, Stampede Park, Calgary; info/tickets

+ Aug. 12-13; 9th Annual Enbridge Ride to Conquer Cancer; info/register/sign-up/sponsor

+ Sept. 2-3; 27th Annual Canmore Highland Games, Canmore, info/volunteering/tickets

+ Sept. 7-8; 12th Annual Pipeline Development and Expansion Conference, The Houstonian Hotel, Houston; info/register

+ Sept. 12-13/2017; Oil Sands Trade Show & Conference, Suncor Community Leisure Centre, Fort McMurray; info/registration

+ Sept. 17-20; 2018 Gastech Exhibition & Conference, Gran Via Venue, Barcelona, Spain; info/register

+ Sept. 27; BOMEX 2017 - Canada's Building Excellence Summit, Conference, Trade Show and Awards Gala; Toronto; info/register

+ Oct. 16-24/2017; World Design Summit, ‘UNESCO City of Design’, Montreal


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



  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+ ASC – Alberta Securities Commission

+ 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

+ 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

+ 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

+ 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

+ 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

+ LPG – Liquefied Propane 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

+ 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

+ RECA – Real Estate Council of Alberta

+ REIT – Real Estate Investment Trust

+ RFI – request for information

+ RFP – request for proposals

+ RFQ – request for qualifications

+ 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




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current week data

this  site is refreshed with a new issue every Tuesday morning


updated June 13, 2017




 TODAY'S HEADLINES


HEADLINES: Anterra in receivership | Centrica and Cenovus make big natural gas asset sales | crude price wobbly | GE to conclude Baker Hughes takeover | GLOBAL PETROLEUM SHOW OPENS TODAY | Walton International assets being sold + upcoming events, appointments, oil sands/heavy oil + climate change + infrastructure + REIT NEWS + financings 




CONVERSATIONS

Last week's conversation with Samara Felesky-Hunt, Dietition and Nutritional Consultant

A recent conversation with Anthony Sanni, speaker/educator

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



 sponsors of this week's issue:

CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



CONTACT MARK KOLKE 
RESIDENTIAL SALES



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



CONTACT DAWSCO
 
COFFEE SERVICES



e-mail to Sharon Martens
 
INTERIOR DESIGN



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



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



 CHARITY + INDUSTRY GOLF TOURNAMENTS 

+ June 19; Veteran's Food Bank, 9th Annual Golf Tournament, Pinebrook Golf and Country Club, Calgary; info/registration

+ June 22; 56th Annual, CSPG Golf Tournament, Elbow Springs Golf Club, Calgary; info/register

+ June 26; Rotary Stay-in-School 21st Annual Charity Golf Tournament, Hamptons Golf Club, Calgary; info/register

+ July 6; 26th Annual Parkinson Tulip Tournament, Sirocco Golf Club, Calgary; info/register

+ July 6; 15th Annual Coast Hotels Shuhachi Naito Golf Classic, Tsawwassen Springs Golf Club, Delta, BC; info/register

+ Aug. 15-17; Priddis Greens Charity Classic, Priddis Greens Golf & Country Club, Priddis; info/register

+ Sept. 7; Calgary Dream Centre 9th Annual Chairty Golf Classic, Heritage Pointe Golf Club, De Winton; info/register


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



 SHAREHOLDER MEETINGS

+ June 14; K-Bro Linen Inc., Annual General Meeting, Toronto

+ June 15; Fiera Capital Corporation, Annual General and Special Meeting of Shareholders, Toronto

+ June 15; Granite REIT, Annual Meeting of Unitholders, Toronto

+ June 15; Granite REIT Inc., Annual Meeting of Shareholder, Toronto

+ June 19; H&R REIT, Annual Meeting, Toronto

+ June 19; H&R Finance Trust, Annual Meeting, Toronto

+ June 22; Northern Blizzard Resources Inc., Annual and Special Meeting of Shareholders, Calgary

+ June 26; Marquee Energy Ltd., Annual and Special Meeting of Shareholders, Calgary

+ June 26; Penn West Petroleum Ltd., Annual and Special Meeting, Calgary

+ June 27; Eagle Energy Inc., Annual Meeting, Calgary

+ June 27; Sunshine Oilsands Ltd., Annual Meeting of Shareholder, Hong Kong

+ June 28; GrowMax Resources Corp., Annual and Special Meeting, Calgary

+ July 6; PetroShale Inc., Annual and Special Meeting, Calgary


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



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NEWS SUMMARY 
 June 6 ~ 13 


+ Anterra Energy Inc. in receivership; PricewaterhouseCoopers Inc. appointed as receiver and manager under CCAA court order

+ CQ Energy Canada Partnership (Centrica plc holds 60%) is being sold to a consortium for $722.0 million

+ current energy prices – live link to current Bloomberg energy prices; crude price slump continues while OPEC continues its struggle to get members adhering to production cutbacks, Qatar situation adding instability to the gulf, and Nigerian production disruption has ended; experts predict supply glut will carry into 2018 … tic toc

+ Encana Corp. agreed to sell its Colorado natural gas holdings (3,100 gas wells) to Caerus Oil and Gas LLC for US$735.0 million

+ General Electric Co. got U.S. antitrust approval for merging its oil and gas business with Baker Hughes Inc.; combined unit will have US$23.0 billion/year revenue

+ Global Petroleum Show starts today; 1,000+ exhibitors, 50,000 attendees expected – Stampede Park, Calgary … June 13-15; register/attend

+ Mueller Industries Inc. acquired HeatLink Group Inc.

+ Hudson’s Bay Co. is looking at selling its real estate; also, HBC are slashing 2,000 jobs across the country … tic toc

+ Manitok Energy Inc. completed its combination/take-over of Craft Oil Ltd.

+ Oakcreek Golf & Turf LP acquired Simpson Norton Corporation; terms not disclosed

+ OPSEU Pension Trust announced it will internalize management of 40-50% of its $19.0 billion portfolio

+ Pacific Exploration and Production Corporation changed its name to Frontera Energy Corporation

+ rig counts: May 2017, 957, up 1 from April, up 2 from a year ago; Western Canada weekly count up 25% to 132

+ Walton International Group Inc. insolvency continues under CCAA monitoring; Ernst & Young Inc. are inviting proposals on properties in Alberta and Ontario; get particulars at:  WIGISISP@ca.ey.com 




THIS WEEK IN FINANCINGS 
- proposed & closed

+ American Hotel Income Properties REIT LP closed US$48.9 million convertible debt financing

+ Chartwell Retirement Residences closed $200.0 million sr. unsecured debt financing

+ Delphi Energy Corp. closed $65.3 million equity and debt financing

+ Intact Financial Corporation closed $425.0 million unsecured debt financing

+ Mainstreet Health Investments Inc. secured US$300.0 million credit facility

+ Mosaic Capital Corporation is on the market to raise $20.0 million in equity

+ NADG NNN REIT is on the market to raise US$20.0 million in equity

+ Park Lawn Corporation closed $70.0 million equity financing

+ Resverlogix Corp. is on the market to raise $10.0 million in equity

+ Seven Generations Energy Ltd. secured $1.4 billion credit facility

+ Slate Retail REIT secured $140.0 million in new credit facilities




 QUOTES

+ Find a need and fill it. – Ruth Stafford Peale

+ A neighbour isn’t simply someone who lives next door; a neighbour is someone who has got your back when you don’t have the strength and the ability to have your own. – Orly Wahba




 KUDOS

+ the Canadian Loonie turned 30

+ the Calgary Tower (originally the Husky Tower) turned 50




 this week in REITS 


+ American Hotel Income Properties REIT LP closed US$48.9 million convertible debt financing

+ NADG NNN REIT is on the market to raise US$20.0 million in equity

+ Northwest Healthcare Properties REIT completed its acquisition of Generation Healthcare REIT

+ Pure Multi-Family REIT LP agreed to acquire La Villita (306 unit project) in Irving, TX for US$48.8 million

+ Pure Multi-Family REIT LP closed its US$29.7 million acquisition of Park 28 property in Phoenix, AZ

+ Qi Tang to CFO @ RioCan REIT

+ Slate Retail REIT secured $140.0 million in new credit facilities

+ Slate Retail REIT agreed to acquire a five-property grocery-anchored portfolio in Florida and Pennsylvania for $105.0 million




 INFRASTRUCTURE / P3  


+ City of Calgary and Calgary Flames continue negotiations on a new-arena plan; side-show by Brian Burke suggesting the team might move to another city if not accommodated caused a one-day stir … negotiators are back at the table … tic toc

+ Infrastructure Ontario and Metrolinx established a short-list of three consortia for their Huronia LRT project; $1.4 billion project scope will involve 20 km. rapid transit (and ww stops) between Mississauga and Bramption, ON

+ Infrastructure Ontario and Metrolinx issued and RFQ (posted on Merx) for the Barrie Rail Corridor Expansion – Grading project; looking for parties to build and finance the project




 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ Donald Trump announced the United States will pull out of the Paris Climate Change Accord; it takes four years to fully withdraw – meanwhile the ripples are rippling … tic toc

+ only in Canada you say … Climate Change researchers cancel expedition because of climate change

+ The University of Calgary is one of 16 participants to take part in a two-year program to help finalize the Canada Green Building Council’s (CaGBC) new Zero Carbon Building Standard




INTERESTING REAL ESTATE NEWS, other places


+ Blackstone sold Logicor to China Investment Corp; US$14.0 billion for 147 million sq. ft. portfolio of logistics and distribution warehouses in 17 countries; 70% in UK, German, France and Southern Europe

+ Coast Hotels is expanding in Okanagan wine country; new property at Oliver, BC to be developed by Mundi Hotel Enterprises Inc.; 80 room property will open May 2018; Horizon North Logistics are constructing …

+ Digital Realty Trust Inc. a giant data-centre firm grows some more; they’ve struck a deal to buy DuPont Fabros for US$7.6 billion

+ Firm Capital American Realty Partners Corp. agreed to, on a 50% JV basis, acquired a portfolio (14 building) of 462 apartment units in Bridgeport, Conn. for US$30.5 million

+ Vail Resorts Inc. closed its $41.0 million acquisition of Stowe Mountain Resort




 CONSTRUCTION NEWS + INNOVATION 


+ Ledcor Group have two properties in the running for 2017 Urban Land Institute Awards for Excellence; Marine Gateway in Vancouver and West Don Lands in Toronto


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