this site is refreshed with a new issue every Tuesday morning
updated June 7, 2016
NEWS | bcIMC taking $18 billion property portfolio in-house | crude steady @ 50 | Devon US$1 billion asset sale | Fort Mac is back in business | Global oil show starts today | Trican sold its well completion biz + Brian Stringer interview | upcoming events, appointments, oil sands/heavy oil + climate change + infrastructure + REIT NEWS + financings + charity golf tournaments + VIEWPOINT article 'Just Go' by Mark Kolke >>>>
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 Brian Stringer, Pres. @ EPIC Building Services Ltd.
Last week's conversation with Richard Pootmans, Councillor, Ward 6, City of Calgary
+ British Columbia Investment Management Corporation (bcIMC) is establishing a privately held real estate investment and property management company – QuadReal Property Group to manage its $18 billion portfolio of Canadian and global real estate portfolio currently managed by three external managers (Bentall Kennedy, GWL Realty Advisors, Realstar); transfer to occur in 2017
+ Cahill Services LLC acquired Drive Rental Corp.
+ current energy prices – live link to Bloomberg energy prices; crude steady around US$50/bbl, commodity and stock markets buoyed on speculation U.S. Federal Reserve will not raise interest rates this summer …
+ Devon Energy announced multiple sales of Texas and Oklahoma upstream assets for US$1 billion
+ FACILITYCalgary OP-ED page: new article: ‘Just Go’ by Mark Kolke, publisher of FACILITYCalgary - click VIEWPOINT TAB
+ Fort McMurray wildfire: now covers 581,695 hectares, perimeter is 984 km.; 70% contained as 2,804 firefighters continue yeoman efforts …
+ Fort McMurray residents have returned in phases; refrigerator sales are brisk, spirits are high and the long process of recovery has begun – Red Cross continues to dole out the dough, GOA is, rightly, spending a fortune on firefighting, oil sands plants are back in gear and stories of heroism are many …
+ Global Petroleum Show opens today at Stampede Park
+ Gran Tierra Energy Inc. increased its 2016 CapEx Budget from $140 million to $150 million
+ Great Plains Energy Inc. agreed to acquire Westar Energy Inc. for US$8.6 million
+ Kaisan Energy Corp. agreed to acquired Hawk Exploration Ltd. for $16.1 million
+ Marriott Hotels opened two new facilities in Calgary; in Seton, near the South Health Campus – Courtyard and Renaissance Inn
+ Marquee Energy Ltd. closed its $5.57 million sale on a portfolio of non-core shallow natural gas assets
+ NEB extended the time from for the Mackenzie Gas Project (Mackenzie river valley pipeline); Imperial Oil now has till end of 2022 to start it …
+ Newfoundland and Labrador are kicking the fracking can down the road, ‘requiring more study’ – perhaps in step with New Brunswick’s recent position; without less facts and more politics in their recipe … tic toc
+ OPEC meeting last week was a non-event in terms of curbing production, perhaps a signal to the market that OPEC has outlived its usefulness …
+ Penn West Petroleum Ltd. put its Dodsland (Saskatchewan) Viking light oil assets on the market
+ Petrocapita Income Trust closed its $550,000 acquisition of MJ Vallee Trucking
+ PetroFrontier Corp. agreed to acquire a portfolio of assets from Kasten Energy Inc. for $17.49 million
+ Progressive Waste Solutions Ltd. merged with Waste Connections Inc.; merged company is Waste Connections Inc.
+ Raging River Exploration Inc. closed its $109 million acquisition of Rock Energy Inc.
+ TELUS Corporation closed its $600 million sale of a 35% stake in TELUS International to Baring Private Equity Asia
+ Total Energy Services Inc. increased its 2016 CapEx Budget by $5.1 million to $17.2 million
+ Trican Well Services agreed to sell its completion tools business to National Oilwell Varco Inc. for $53.5 million
THIS WEEK IN FINANCINGS
- proposed & closed
+ AltaGas Ltd. closed $400 million equity financing
+ Brookfield Asset Management Inc.’s Brookfield Capital Partners VI closed US$4 billion equity financing
+ Canaccord Genuity Group Inc. is on the market to raise $28,676,356 by a common share & warrants offering
+ Ceiba Energy Services Inc. is on the market to raise $5.0 million in unsecured convertible debt
+ Cruis Energy Trust is on the market to raise $63 million in equity
+ CWC Energy Services Corp. closed a $14.6 million rights offering
+ Delphi Energy Corp. is on the market to raise $60 million in a secured debt & warrants issue
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