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FACILITYCalgary May 6/25

ARCHIVED ISSUES

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Bonita Then to Interim Pres. & CEO @ Home Capital Group Inc.

+ Cassandra Calder to Corporate Counsel @ AltaGas Ltd.

+ Colin Outtrim, Director @ CaiTerra International Energy Corporation, resigned

+ Douglass Yee to Consultant & Financial Advisor @ GrowMax Resources Corp.

+ Heidi Ueberroth to Director @ Four Seasons Hotels and Resorts

+ Helen Qian to Exec. VP Bus. Dev. @ Smartcool Systems Inc.

+ Ian Currie to Director @ Tamarack Valley Energy Ltd.

+ Jennifer Lamb to Partner @ Carscallen LLP

+ Jill Sharland to CFO @ Greater Toronto Airports Authority

+ Ken Taylor to Sr. VP & CFO @ Yellow Pages Limited

+ Kevin Humphrys to Gen. Mgr. Edmonton @ EPIC Realty Partners (Alberta) Inc.

+ Lazaro DaRocha, Pres. @ Street Capital Group Inc., retiring

+ Lloyd Wiggins to CFO @ GrowMax Resources Corp.

+ Marilyn Slawinsky to Justice, Red Deer @ Court of Queen’s Bench

+ Mark Warsaba to Sr. VP & COO @ AutoCanada Inc.

+ Martin Reid, CEO & Director @ Home Capital Group, terminated

+ Michele Hollins to Justice, Calgary @ Court of Queen’s Bench

+ Nicholas Ramessar to Partner @ Carscallen lLP

+ Patrick Chetcuti, Pres. @ FCT, retired

+ Randal Van de Mosselaer to Partner, Calgary @ Osler, Hoskin & Harcourt LLP

+ Richard Lane, Director @ Ceiba Energy Services Inc., resigned

+ Rick Pawluk, Director @ CaiTerra International Energy Corporation, resigned

+ Ritu Khullar to Justice, Edmonton @ Court of Queen’s Bench

+ Sean Bovingdon to Exec. VP & CFO @ Toronto Hydro Corporation

+ Willie deWit to Justice, Calgary @ Court of Queen’s Bench


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




IN MEMORIUM
SHAKERS AND MOVERS who left us 

+ Dr. Angus Bruneau, founder of Fortis Inc., died




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ Herman Miller one-up’s Herman Miller – Aeron chair redux, updated it – still an iconic place to sit down

+ an app to track your water indication + tracker

+ why top jobs go unfilled – read the survey results




 QUOTES

+ Spring is nature’s way of saying, ‘let’s party’. – Robin Williams

+ The most pitiful among men is he who turns his dreams into silver and gold. – Khalil Gibran




 KUDOS 

+ to David Werklund and Susan Norman who gave $16.0 million to Olds College – largest ever personal donation to an Alberta college or technical institution – to establish a Smart Agriculture hub




  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

+ 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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this  site is refreshed with a new issue every Tuesday morning


updated Mar. 28, 2017




 TODAY'S HEADLINES


HEADLINES: Blackbird purchase | Enbridge layoffs | Pengrowth sale | Prairie Provident acquisition | Total won bidding for Savannah | TransCanada got permit for KeystoneXL line | Trican merging with Canyon + Rob Mabee interview | upcoming events, appointments, oil sands/heavy oil + climate change + infrastructure + REIT NEWS + financings 




CONVERSATIONS

This week's conversation with Rob Mabee, Media Specialist / Project manager and art-preneur / retail merchant

Last week's conversation with Jacquie Schnider, Public Health Inspector and Public Speaking/Toastmasters iconic leader extraordinaire.

A recent conversation with Ryan Ackers, VP Bus. Dev. & Client Relations @ Gordon B. Lang and Associates Inc., individual pension plan advisors and actuaries

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



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 sponsors of this week's issue:

CONTACT PIVOTAL
 
PROJECT MANAGEMENT



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
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 CONSTRUCTION NEWS + INNOVATION 


+ federal budget stalls on infrastructure commitments



INTERESTING REAL ESTATE NEWS, other places


+ in Washington, DC – remember the infamous Watergate hotel? …well, this is the Watergate building, of the office property next door; under contract with Washington REIT to acquire the 309,000 sq. ft. Class A building for US$135.0 million

+ Larco Investments acquired the Dominion Public Building in Toronto, 1 Front St. W., for $275.1 million

+ Starlight Investments acquired 50% interest in Mississauga Executive Centre; 1,150,000 sq. ft. complex is LEED Gold certified; terms not disclosed




 SHAREHOLDER MEETINGS

+ Mar. 28; Milestone Apartments REIT, Special Unitholder Meeting, Toronto

+ Apr. 4; The Bank of Nova Scotia, Annual Meeting of Shareholders, Toronto

+ Apr. 6; CIBC, Annual Meeting of Shareholders, Ottawa

+ Apr. 6; Royal Bank of Canada, Annual Meeting of Common Shareholders, Toronto

+ Apr. 12; Cargojet Inc., Annual General and Special Meeting of Shareholders, Toronto

+ Apr. 20; Calgary Airport Authority, Annual General Meeting, Calgary

+ Apr. 21; National Bank of Canada, Annual Meeting of Shareholders, Montreal

+ Apr. 25; Canadian National Railway, Annual General Meeting of Shareholders, Regina

+ May 2; Agrium Inc., Annual Meeting of Shareholders, Calgary

+ May 12; Emera Inc., Annual Meeting of Shareholders, Halifax

+ May 23; Sienna Senior Living Inc., Annual Meeting of Shareholders, Toronto

+ May 24; CAPREIT, Annual Meeting of Unitholders, Toronto

+ May 31; PRO REIT, Annual Meeting of Unitholders, Halifax


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



 this week in REITS 


+ Automotive Properties REIT closed its $8.0 million acquisition of Go Mazda dealership in Edmonton

+ European Commercial Real Estate Limited is planning to convert to a REIT

+ European Commercial Real Estate Limited is on the market to raise $30.0 million in equity

+ Nobel REIT unitholders approved merger with Edgefront REIT; will be renamed Nexus REIT

+ Smart REIT closed $150.0 million sr. unsecured debt financing




NEWS SUMMARY 
 Mar. 21 ~ 28 


+ Alberta Land Sale; GOA netted $19.9 million in its Mar. 22nd land sale

+ BC Land Sale; government of BC netted $4.83 million in its Mar. 22nd land sale

+ Blackbird Energy Inc. closed its Montney land acquisition from Knowledge Energy Inc.

+ current energy prices – live link to current Bloomberg energy prices; crude prices continue to slump on U.S. supply surplus and continued jitters about OPEC behavior

+ Dow Chemical and DuPont got European Union approval for their US$130.0 billion merger; still need regulatory approval in Canada, U.S. and many other countries

+ Enbridge Inc. is laying off 1,000 staff after merging with Spectra Energy; that’s about 6% of the workforce, most of the layoffs are in Houston

+ ESI Energy Services Inc. agreed to sell some non-core assets for $3.5 million

+ Federal Government Budget; Finance Minister Morneau tabled his budget – lots of soft praise around the country for anyone getting money, lots of whining from those who didn’t; Alberta is getting $30.0 million for abandoned well clean-up work … which seems like a spit in a very large ocean … tic toc

+ Journey Energy Inc. agreed to acquire a central Alberta portfolio of assets/company acquisition, for $35.6 million

+ Lexin Resources Ltd. in receivership

+ NXT Energy Solutions Inc. did a sale/leaseback transaction on it’s Cesna Citation for US$2.3 million

+ Pengrowth Energy Corporation closed $92.0 million sale of non-producing Montney lands near Bernadet, BC

+ Prairie Provident Resources Inc. closed $41.0 million acquisition of Red Earth area assets

+ Total Energy Services Inc. appears to have won the day in its hostile takeover bid for Savanna Energy Services Corp., winning approval of 51% of Savanna shareholders – to the chagrin of Western Energy Services Corp. whose white-knight deal got out-hustled by Total

+ TransCanada Corporation got its Presidential Permit for the Keystone XL pipeline project without any of the threatened conditions; this approval is for a project eight years in the making; hurdles still as they work through Nebraska permitting for the route … tic toc

+ Trican Well Service Ltd. and Canyon Services Group Inc. agreed to combine; non-cash combination has transaction value of $637.0 million




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Black Diamond Group Limited closed $31.9 million equity financing

+ Divestco Inc. closed $6.0 million debt financing

+ European Commercial Real Estate Limited is on the market to raise $30.0 million in equity

+ Gibson Energy Inc. closed $350.0 million sr. unsecured debt financing

+ PetroShale Inc. is on the market to raise $70.0 million in equity

+ Sears Canada Inc. secured a $300.0 million credit facility

+ Smart REIT closed $150.0 million sr. unsecured debt financing

+ 407 International Inc. closed $250.0 million sr. unsecured debt financing




 SAVE THE DATE / upcoming events


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

+ Apr. 5-7; National Privacy & Data Governance Congress, Carriage House Inn, Calgary; info/register

+ Apr. 8; Strong Hearts, 7th Annual Silent Auction and Fundraiser, Point & Feather Pub, Calgary; info/tickets/donate

+ Apr. 10-11; North American Crude Oil Summit, Omni Houston Hotel, Houston, TX; info/register

+ Apr. 11; Vancouver Real Estate Forum, Vancouver Convention Centre, Vancouver; info/register

+ Apr. 20; Saskatchewan Real Estate Forum, Queensbury Convention Centre, Regina; info/register

+ Apr. 26; Administrative Professionals Day - everywhere

+ May 2-3; Alberta - U.S> Trade Summit, TELUS Convention Centre, Calgary; info/register

+ May 2-3; Partners In Prevention 2017, The International Centre, Mississauga; info/register

+ May 5; Calgary Economic Development - Report to the Community; REIMAGINE, info/tickets

+ May 8-10; Multiple Pathways to Clean Energy, The Hotel Saskatchewan, Regina; info/register

+ May 11; Edmonton Real Estate Forum, Shaw Conference Centre, Edmonton; info/register

+ June 5; World Environment Day - time to save the planet

+ 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

+ 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

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


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



 INFRASTRUCTURE / P3  


+ CalgaryNEXT project in the news; Mayor Nenshi says the west village site is dead – meanwhile Flames CEO Ken King says it’s on hold. Perhaps ‘it’s an election year’ would explain why the Mayor is out in front of a decision city council hasn’t made yet. And, I’m still amazed at how the City of Calgary bought the contaminated site in the first place without doing it’s due-diligence; c’mon Mr. Mayor, that acquisition took place on your watch … so, tell us what happened in that very expensive debacle – I’m dying to know!

+ federal government budget offered no details on promised Canada Infrastructure Bank; they want it operational by end of 2017 but they’ve yet to appoint a CEO or articulate a plan … tic toc

+ GOA announced it will start 26 school projects under its 2017 Budget; Calgary gets four new schools

+ GOA announced it will fund $149.0 million (over four years) to restore the University of Alberta Dentistry/Pharmacy building; project will clear up deferred maintenance deficit and add 17,800 sq. m. of additional space

+ GOA announced it will fund $270.6 million (over four years) to create 500 study and classroom spaces as part of renovation of McKimmie Complex and Professional Faculties buildings at University of Calgary

+ GOA announced it will twin the Highway 15 bridge over the North Saskatchewan at Fort Saskatchewan; starting in 2019




 CLIMATE CHANGE / LEED / RENEWABLE ENERGY  

+ more than 75 agriculture industry leaders from crop and livestock organizations, NGOs, government, universities, First Nations, and agribusinesses, including Carbon Credit Solutions, Agrium and Ducks Unlimited Canada have formed the Coalition on Offset Solutions. The coalition advocates the creation of a global Bio-Offset Hub and a dedicated $30M+ multi-year innovation fund for research and advances in the optimization of greenhouse gas reductions




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