this site is refreshed with a new issue every Tuesday morning
updated June 14, 2016
TODAY'S HEADLINES
NEWS | AIMCo takes big stake in Calfrac | Fort Mac resuming ‘normal’| Gear Energy buying Striker | oil show attendance down | Penn West $975 million asset sale averts insolvency | rig counts up |Spectra and TransCanada do Mexican pipleline deals + Josh Groberman interview | upcoming events, appointments, oil sands/heavy oil + climate change + infrastructure + REIT NEWS + lots of financing$ + charity golf tournaments+ VIEWPOINT >>>>
+ BluEarth Renewables Inc. commissioned its Bull Creek wind facility near Provost, AB; the 29.2 MW output has all been forward-sold to Alberta rural schools
+ to Shell Canada; they contributed offshore rights (860,000 hectares) to the Nature Conservancy of Canada to support establishment of a national marine conservation area in Lancaster Sound, off the coast of Nunavut
+ to recipients of Honorary Degrees at University of Calgary’s June Convocation: Chief Victor Buffalo, Geoffrey Cummings, Linda Taylor, Christine McIver, Pinchas Zukerman, Janice Eisenhauer, Jay Triano – an accomplished group of new Doctors …
+ AIMCo took a $200 million stake in Calfrac Well Services Ltd.
+ Chinook Energy Inc. closed a sale of the majority of its Alberta oil and natural gas assets, excluding its Montney assets, to Tournament Exploration Ltd. in a cash and shares transaction
+ CPPIB invested US$450 million in LongPoint Minerals, a Denver based oil & gas investment firm
+ Enterprise Group Inc. agreed to sell T.C. Backhoe & Directional Drilling to TC Infrastructure Services Ltd. for $16.9 million
+ FACILITYCalgary OP-ED page: new article: ‘Just Go’ by Mark Kolke, publisher of FACILITYCalgary - click VIEWPOINT TAB
+ Fort McMurray ‘return to normal’ news: airport operations resumed, garbage & recycling schedules are back on track,
+ Gear Energy Ltd. and Striker Exploration Corp. agreed to combine; will operate as Gear Energy
+ Global Petroleum Show was a hit, as usual, but attendance was down – 44,597 registrants! … many with resumes in their bag; if you missed, make sure to note the date (below) for next year
+ India surpassed Japan world’s 3rd largest oil consumer (U.S. is #1, China #2)
+ Kimco Realty Corp. sold its interests in a 17-property Canadian portfolio (1.8 million sq. ft.) to Anthem Properties Group Ltd. for US$324 million
+ LGX Oil + Gas Inc. was placed in receivership; Ernst & Young Inc. are receivers
+ LinkedIn is sold; Microsoft Corp. agreed to buy it for US$26.2 billion; Microsoft gets access to 464 million users, gets Lynda.com – and perhaps Bill Gates dipping into our pockets as captive customers to sell additional service … tic toc
+ Mexican government announced an investment with the University of Calgary of 150 Million Pesos ($10.5 million) to fund research; announced along with a Call for Proposals
+ Northern Blizzard Resources Inc. increased its 2016 CapEx Budget from $40 million to $50 million
+ Penn West Petroleum Ltd. sold all of its Saskatchewan/Dodsland Viking area assets for $975 million to Tienne Energy Ltd.
+ Petromanas Energy Inc. changed its name to PMI Resources Ltd.
+ Spectra Energy Corp landed a new pipeline; its Valley Crossing Pipeline LLC sub, will build, own and operated US$1.5 billion, 168-mile intrastate natural gas pipeline for Comisión Federal de Electricidad
+ Titanium Transportation Group Inc. acquired a portfolio of assets, including a Windsor Terminal, for $6.3 million
+ TransCanada Corporation’s partnership with IEnova, Infrastructure Marina del Golfo, landed a project; to build, own and operate a US$2.1 billion Sur de Texas-Tuxpan natural gas pipeline in Mexico
+ Wayfinder Corp. agreed to acquire Obed Transloading Facility from Athabasca Minerals Inc.; terms not disclosed
+ western Canada rig count jumped last week; still paltry, but 69 of 667 rigs are working, up from 44 last week; south of the border, U.S. rig count rose for the 2nd week in a row, but only by 6 rigs; 3 oil, 3gas
THIS WEEK IN FINANCINGS
- proposed & closed
+ Artis REIT is on the market to raise $100 million in equity
+ Brookfield Renewable Partners LP closed $800 million equity financing
+ Calfrac Well Services Ltd. closed $200 million sr. secured debt & warrants financing
+ Crius Energy Trust closed $72.5 million equity financing
+ Dong Energy raised US$15 billion in an IPO
+ Exchange Income Corporation closed $69.9 million convertible unsecured sub. debt financing
+ Gear Energy Ltd. is on the market to raise $17.5 million in equity
+ Hemisphere Energy Corporation is on the market to raise $1.601 million by a flow-through share issue
+ Manulife Financial Corporation is on the market to raise US$1.0 billion in sr. debt
+ MCAP Corporation is on the market to raise $275 million via an IPO
+ MCW Energy Group Limited closed $75,000 tranche of an equity financing
+ Morneau Shepell Inc. closed $11.0 million overallotment of its recent unsecured convertible debt financing
+ National Bank of Canada closed $400 million preferred share financing
+ NexGen Energy Ltd. closed $60 million unsecured convertible debt financing
+ Petrocapita Income Trust closed $1,975,000 secured convertible debt financing
+ PHX Energy Services Corp. is on the market to raise $20.3 million in equity
+ Pure Industrial REIT is on the market to raise $130 million in equity
+ Suncor Energy Inc. is on the market to raise $2.5 billion in equity
+ Toro Oil & Gas Ltd. is on the market to raise $10 million in a common shares & warrants offering
+ Toronto Hydro Corporation is on the market to raise $200 million in sr. unsecured debt
+ WestJet Airlines Ltd. is on the market to raise US$400 million in sr. unsecured debt
OIL SANDS AND
HEAVY OIL NEWS
+fire near Wabasca forced Cenovus to evacuate Pelican Lake heavy oil facility due to wildfires, then a return; Canadian Natural Resources Ltd. did a similar cut back …
+ ConocoPhillips re-started production at Surmont facility
INTERESTING REAL ESTATE NEWS, other places
+ Canderel Management Inc. was awarded a contract to handle leasing and management for new owners of Bentall Centre in Vancouver
+ Firm Capital Property Trust announced a JV with First Capital Realty; Firm Capital acquiring 40% interest in Whitby Mall and Thickson Place, both in Whitby, ON
this week in REITS
+ Artis REIT agreed to acquire an office property portfolio in Madison, Wisconsin for US$260 million
+ OneREIT engaged advisors to explore strategic alternatives
+ Pure Industrial REIT is on the market to raise $130 million in equity
INFRASTRUCTURE / P3
+ City of Edmonton is considered feasibility of selling its Drainage Utility Services to EPCOR; decision slated for late 2016; City of Edmonton owns 100% of EPCOR …
+ Ontario Teachers’ Pension Plan and CPPIB teamed up to invest $1.35 billion in a 223 km. Mexican toll highway, Arco Norte
