FACILITYCalgary

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

FACILITYCalgary May 20/25

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SHAKERS AND MOVERS 
moving, retired, resigned, died or left the company

+ Adeline Martin to VP Finance & CFO @ Virginia Hills Oil Corp.

+ Aldemir Bendine, CEO @ Petrobras, resigned

+ Bruce Chernoff to Interim CEO @ Maxim Power Corp.

+ Cameron Mack, recently retired Partner @ Smith Mack Lamarsh, died

+ David Perez to VP Sales and Marketing @ FLYHT Aerospace Solutions Ltd.

+ Donald Courtney to VP, Gen. Mgr. @ LIXIL Water Technology Canada

+ Dr. Verna Yiu to Pres. & CEO @ Alberta Health Services Board

+ Janelle Steiner to Assistant Treasurer @ MDU Resources Group Inc.

+ John Bobenic, CEO @ Maxim Power Corp., resigned

+ Jonathan Dubois-Phillips to Pres., International Business @ QuadReal Property Group

+ Kevin Salsberg to Sr. VP Real Estate @ CT REIT

+ Matieu Plamondon to VP Operations @ FLYHT Aerospace Solutions Ltd.

+ Nimal Rodrigo, Pres @ Synodon Inc., resigned

+ Remco Daal to Pres., Domestic Operations @ QuadReal Property Group

+ Steve Bishop to National Assurance Leader @ Grant Thornton LLP

+ Terry Klassen to Sr. Landscape Architect @ ISL Engineering and Land Services Ltd.

+ Timothy Cutt to CEP @ Cobalt International Energy Inc.

+ Tony Astles to Pres., Canadian Property Operations @ Bentall Kennedy

+ Tracie Noble, VP & CFO @ Virginia Hills Oil Corp., resigned


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




BOARDROOM changes, purges, appointments etc.

+ Heywood Wilansky to Director @ Sears Canada Inc.

+ John Bobenic, Director @ Maxim Power Corp., resigned

+ Juan Wang, Directore @ Anterra Energy Inc., resigned

+ Roy Romanow to Co-Chair @ Canadian Alliance to End Homelessness

+ Stephen Snyder to Trustee @ H & R REIT

+ Steve Balch, Director @ Rockefeller Hughes Corporation, resigned




 SHAREHOLDER MEETINGS

+ June 6; BrightPath Early Learning Inc., Annual General and Special Meeting, Toronto

+ June 8; WesternZagros Resources Ltd., Annual General Meeting, Calgary

+ June 9; WCB-Alberta, Annual General Meeting, Edmonton

+ June 15; Rock Energy Inc., Special Meeting of Shareholders, Calgary

+ June 17; H&R REIT, Annual and Special Meeting of Unitholders, Toronto

+ June 21; Athabasca Oil Corporation, Annual General Meeting, Calgary

+ June 21; Falcon Oil & Gas Ltd., Annual General and Special Meeting, Calgary

+ June 22; Ithaca Energy Inc., Annual General Meeting, Aberdeen, Scotland

+ June 22; Marquee Energy Ltd., Annual General Meeting of Shareholders, Calgary

+ June 30; Sunshine Oilsands Ltd., Annual General Meeting of Shareholders, Hong Kong

+ July 26; Parkit Enterprise Inc., Annual General Meeting, Vancouver


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



 SAVE THE DATE / upcoming events

+ May 26-27; 2nd Annual Platts LNG & Natural Gas Markets Asia, Singapore; info/register

+ June 2; OPEC, 169th Ordinary Meeting, Vienna, Austria

+ June 7-9; Global Petroleum Show, Stampede Park, Calgary; info/register

+ June 8; EPAC Luncheon with Sask. Premier Brad Wall, Calgary Petroleum Club; info/tickets

+ June 8; Platts Calgary Oil Forum, Calgary Marriott Downtown, Calgary; info/register

+ June 9; Calgary Real Estate Strategy & Leasing Conference, TELUS Convention Centre, Calgary; info/register

+ June 13; NeoCon 2016, The Merchandise Mart, Chicago; info/register

+ July 5-7; 2016 Canadian Business Aviation Association Convention & Exhibition, Calgary; info/register

+ Sept. 3 – 4; 26th Annual Canmore Highland Games, Canmore; info/tickets

+ Sept. 8; Rea;REIT Conference, Metro Toronto Convention Centre, Toronto; info/register

+ Sept. 22-25; 2016 Calgary Home + Design Show, BMO Centre, Stampede Park, Calgary info/register

+ Oct. 4-5; CanWeld 2016, Edmonton Northlands, Edmonton

+ Oct. 9-13; 23rd World Energy Congress, Istanbul, Turkey; info/register

2017

+ Apr. 4-7/2017; Japan Gastech Conference & Exhibition, Tokyo; info/register/save the date

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


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



  GLOSSARY 

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+ 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

+ 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

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

+ 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

+ GJ – gigajoule

+ GLA – gross leasable area

+ GOA - Government of Alberta

+ GTA – greater Toronto area

+ G&A – general and administrative

+ 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

+ MCF – thousand cubic feet

+ MCF/D – thousand cubic feet per day

+ mezz – mezzanine debt

+ MOU – Memorandum of Understanding

+ MW – megawatt (1 million watts)

+ NAFTA – North American Free Trade Agreement

+ NEB – National Energy Board

+ NGLs – natural gas liquids

+ 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

+ RFP – request for proposals

+ RFQ – request for qualifications

+ RICS – Royal Institution of Chartered Surveyors

+ RNG – renewal natural gas

+ SAGD – steam assisted gravity drainage

+ S & P – Standard & Poors

+ sub – subsidiary

+ sub. – subordinated

+ tic toc – we’ll see …

+ UDI – Urban Development Institute

+ WTI – West Texas Intermediate crude benchmark price

+ WTO – World Trade Organization




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FACILITYCalgary
current week data

this  site is refreshed with a new issue every Tuesday morning


updated June 7, 2016




 TODAY'S HEADLINES


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 >>>>




CONVERSATIONS

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

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



 QUOTES

+ If you ever dream of beating me you’d better wake up and apologize. – Muhammed Ali

+ I always tried to turn every disaster into an opportunity. – John Rockefeller




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 sponsors of this week's issue:

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INTERIOR DESIGN



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COMMERCIAL INTERIOR CONSTRUCTION



CONTACT PIVOTAL
 
PROJECT MANAGEMENT



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



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 CHARITY GOLF TOURNAMENTS 

+ June 16; CSPG 55th Annual Classic, Elbow Springs Golf Club, Calgary; info/register

+ June 16; Partners 8th Annual Charity Golf Tournament, Springbank Links, Calgary; info/register

+ June 20; 23rd Annual IFMA Open, Inglewood Golf & Curling Club, Calgary; info/register

+ June 27; Energy Fore Friends, 12th Annual Charity Golf Tournament, Glencoe Golf & Country Club, Calgary; info/register

+ June 27; Rotary – Stay in School Golf Tournament, Hamptons Golf Club, Calgary; info .. register

+ July 5; Canadian Business Aviation Association/Hope Air Golf Tournament, Inglewood Golf & Curling Club; info/register

+ July 7; 14th Annual Coast Hotels Shuhachi Naito Golf Classic, Tsawwasssen Spring Golf Club, Delta BC; info/registration

+ Aug. 11-13; Priddis Greens Charity Classic, Priddis Greens Golf & Country Club, Priddis; info/register

+ Aug. 31 – Sept. 4; Shaw Charity Classic, Canyon Meadows Golf & Country Club, Calgary; info/tickets

+ Sept. 13; 7th Annual Gordon Hoffman Charity Golf Classic, Priddis Greens Golf & Country Club, Priddis; info/register


[send infromation on charity golf tournaments to:  kolke@facilitycalgary.com ]



 CLIMATE CHANGE / LEED / RENEWABLE ENERGY  

+ Bullfrog Power and SES Solar Co-operative Ltd. partnered to launch a 27.5 KW rooftop solar installation in Saskatoon, SK (The Two Twenty Building)




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NEWS SUMMARY 
 May 31 - June 7 


+ 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

+ Enerplus Corporation closed $230,115,000 equity financing

+ Gibson Energy Inc. closed $230 million equity financing

+ Gibson Energy Inc. closed $100 million unsecured convertible debt financing

+ Keyera Corp. is on the market to raised $60 million in debt

+ Margaux Resources Ltd. is on the market to raise $230,000 in equity

+ Mainstreet Health Investments Inc. closed $95 million equity financing

+ Marksmen Energy Inc. closed $680,364 third & final tranche of its equity financing

+ PetroMaroc Corporation is on the market to raise $390 million in debt

+ Pure Industrial REIT is on the market to raise $110 million in equity

+ RioCan REIT secured $1.0 billion credit facility

+ Slate Office REIT is on the market to raise $50 million in equity

+ Synergy Resources Corporation closed US$37.8 million overallotment of its recent equity financing

+ Trican Well Service Ltd. is on the market to raise $40 million in equity

+ US Oil Sands Inc. closed $12.8 million rights offering

+ Weatherford is on the market to raise US$1.1 billion in debt

+ 49 North Resources Inc. is on the market to raise $600,000 by a common share & warrants offering




 OIL SANDS AND 
HEAVY OIL NEWS 

+ Imperial Oil’s Kearl oil sands operations returned to normal operations as wildfires no longer threaten the facility

+ Suncor Energy Inc. is ramping up its oil sands production and expect normal levels by end of June

+ US Oil Sands Inc. closed $12.8 million rights offering




INTERESTING REAL ESTATE NEWS, other places


+ Manulife Asset Management Private Markets acquired 49% interest in QMLP, an Ontario multi-family asset and property management unit of Conundrum Capital Corporation; terms not disclosed

+ Saudi Prince al-Waleed bin Talal is putting the Four Seasons Toronto on the market; $250 million expected for the 259 room icon flagship of the Four Seasons chain

+ SpruceLand Properties Inc. closed the sale of two Edmonton manufactured home communities for $34.6 million

+ Temple Hotels Inc. announced 7 of its Fort McMurray hotels are up and running; 2 suffered fire damage and will re-open in a few months …




 this week in REITS 


+ AIMCo increased its stake in WPT Industrial REIT; now holding 16.5%

+ Allied Properties REIT closed its $220 million acquisition of six properties in Montreal

+ InterRent REIT agreed to sell a portfolio (Sarnia & Niagara Falls); 415 suites, for $32.1 million

+ Kevin Salsberg to Sr. VP Real Estate @ CT REIT

+ Pure Industrial REIT is on the market to raise $110 million in equity

+ RioCan REIT secured $1.0 billion credit facility

+ Slate Office REIT agreed to acquired properties in Markham (Gateway Centre) and St. John’s (an increase in its interest) for a total of $85 million

+ Slate Office REIT is on the market to raise $50 million in equity

+ Stephen Snyder to Trustee @ H & R REIT




 INFRASTRUCTURE / P3  


+ Great Plains Energy agreed to acquired Westar Energy for US$8.6 billion

+ Trudeau government is considering sale of some public infrastructure holdings (ie: airports, ports, highways) and Canadian pension funds appear poised and ready to invest … tic toc




 KUDOS 

+ to Thomas Mueller, Founding Director to Canada Green Building Council, named to the College of Fellows @ Royal Architectural Institute of Canada




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this site last updated May 20, 2025