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FACILITYCalgary June28/22

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SHAKERS AND MOVERS 
moving, retired, resigned, died or got the boot

+ Bill Jack, VP & Gen. Mgr. Kurdistan @ WesternZagros Resources Ltd., left the company

+ Britt Reynolds to CEO @ Medical Facilities Corporation

+ Bruce Garland to Managing Dir. Drilling and Completions @ WesternZagros Resources Ltd.

+ Cindy Forbes to Chief Analytics Officer @ Manulife Financial Corporation

+ Dave MacKay, Pres. @ Ceridian Canada, died

+ Derrek Wong, VP Finance & CFO @ CERF Incorporated, resigned

+ Earl Scott, Pres. & CEO @ PetroFrontier Corp, resigned

+ Glenn Watchorn to Pres. & CEO @ Terra Firma Capital Corporation

+ Grant Harms to Gen. Mgr. Operations @ WesternZagros Resources Ltd.

+ Jamie Ellerton to Primary Spokesman @ Ontario Natural Gas Alliance

+ Jim Hillyer, Member of Parliament for Medicine Hat-Cardston-Warner, died

+ Ken Olson to CFO @ CERF Incorporated

+ Kevin Shaw, Pres. & CEO @ Madalena Energy Inc., left the company

+ Kim Wingerak to VP Property Management @ Triovest

+ Mary Jane Andrews to Pres & CEO @ Canadian Institute of Business Evaluators

+ Michael Shaw to General Counsel @ Royal Bank of Scotland

+ Michael Tinkler, VP Exploration @ WesternZagros Resources Ltd., left the company

+ Mitch DeBelser to Pres., Oil & Gas Fabrication @ TerraVest Capital Inc.

+ Patricia Berburgt to Bus. Dev. Mgr. @ Scott Builders Inc.

+ Ryan Scott, CEO, Avalon Master Builder to Pres. @ Canadian Home Builders Association-Alberta

+ Steven Sharpe to Interim Pres. & CEO @ Madalena Energy Inc.

+ Tom Atkinson, Director of Enforcement @ Ontario Securities Commission, resigned


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




BOARDROOM changes, purges, appointments etc.

+ David Wright to Director @ Tidewater Midstream and Infrastructure Ltd.

+ Dov Meyer to Director and Vice-Chair @ Terra Firma Capital Corporation

+ Earl Scott, Director @ PetroFrontier Corp, resigned

+ Eric Mark to Director @ Madalena Energy Inc.

+ Robert Ellsworth Jr. to Director @ Niko Resources Ltd.

+ Robert Iverach to Interim Pres. & CEO @ PetroFrontier Corp.

+ Steven Gendal, Director @ Niko Resources Ltd.

+ Vanja Baros, Director @ Loon Energy Corporation, resigned

+ Viviek Raj, Director @ Niko Resources Ltd., resigned




 SAVE THE DATE / upcoming events

+ Mar. 30-Apr.1; Congress 2016, National Privacy & Data Governance Congress, Carriage House, Calgary; info

+ Apr. 3; RICS 2016 Summit of the Americas, Washington, DC; info/register

+ Apr. 4-7; Gas Indonesia, Summit & Exhibition 2016; Jakarta; info/register

+ Apr. 6-8; Economic Developers Alberta, 2016 Annual Professional Conference & AGM, Delta Kananaskis Lodge, Kananaskis; info/register

+ Apr. 12-13; 2016 Smart City Symposium, The Banff Centre, Banff; info/register

+ Apr. 17; OPEC - Output Freeze Talks, Doha, Qatar

+ May 10; Land & Development Conference, Metro Toronto Convention Centre, Toronto; info/register

+ May 10-12; 4th Annual Canada LNG Export Conference & Exhibition, Vancouver Convention Centre, Vancouver; info/register

+ May 12; BOMA GALA; TransCanada BOMA Excellence Awards Gala, Westin, Calgary

+ May 12; Edmonton Real Estate Forum, Shaw Conference Centre, Edmonton; info/register

+ May 17; Winnipeg Real Estate Forum, RBC Convention Centre, Winnipeg; info/register

+ May 31; Calgary Real Estate Strategy & Leasing Conference, TELUS Convention Centre, Calgary; info/register

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

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

+ `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

+ 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

+ GJ - gigajoule

+ GOA - Government of Alberta

+ GTA – greater Toronto area

+ G&A – general and administrative

+ IEA – International Energy Agency

+ 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

+ 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

+ 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


FACILITYCalgary
current week data

this  site is refreshed with a new issue every Tuesday morning


updated March 29, 2016




 TODAY'S HEADLINES


NEWS | Condor acquired Marsa | Midwest acquired Mart | TransCanada selling power assets | Trudeau massive budget deficit | Veresen seals deal for Jordan Cove + Jim Pender interview | upcoming events, appointments, oilsands/heavy oil + climate change + infrastructure + REIT NEWS + financings + VIEWPOINT guest article by Wendell Cox >>>>




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 Jim Pender, counselor, social worker and mediator @ Pender Associates

Last week's conversation with Joonas Eronen, VP & Gen. Mgr., OIl, Gas & Chemicals, Canada @ ABB Inc.

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



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CONTACT PIVOTAL
 
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 SHAREHOLDER MEETINGS

+ Mar. 31; TD Bank Group, Annual Meeting of Common Shareholders, Montreal

+ Apr. 1; ShaMaran Petroleum Corp., Bondholders Meeting, Oslo, Norway

+ Apr. 5, Bank of Montreal, Annual Meeting of Shareholders, Toronto

+ Apr. 5; CIBC, Annual and Special Meeting of Shareholders, Vancouver, BC

+ Apr. 6; Royal Bank of Canada, Annual and Special Meeting of Common Shareholders, Montreal

+ Apr. 7; Cargojet Inc.; Annual General Meeting of Shareholders, Toronto

+ Apr. 7, New West Energy Inc., Special Meeting of Shareholders, Vancouver

+ Apr. 12; Scotiabank, 184th Annual and Special Meeting, Calgary

+ Apr. 15; National Bank of Canada, Montreal

+ Apr. 19; Sienna Senior Living Inc., Annual and Special Meeting of Shareholders, Toronto

+ April 21; Calgary Airport Authority, Annual Public Meeting, Calgary

+ Apr. 25; Brookfield Canada Office Properties, Annual General Meeting of Unitholders, Toronto

+ Apr. 25; Zaio Corporation, Annual General Meeting of Shareholders, Calgary

+ Apr. 26; Choice Properties REIT, Annual Meeting of Unitholders, Toronto

+ Apr. 26; CN, Annual General Meeting of Shareholders, Montreal

+ Apr. 28; SMART Technologies Inc., Special Shareholders Meeting, Calgary

+ May 2; Genesis Land Development Corp., Annual and Special General Meeting, Calgary

+ May 4; Agrium Inc., Annual Meeting of Shareholders, Calgary

+ May 5; Oncolytics Biotech Inc., Annual General Meeting, Toronto

+ May 18; Sofame Technologies Inc., Annual General and Shareholder Meeting, Pointe Claire, QB

+ May 25; Partners REIT, Annual and General Meeting of Unitholders, Toronto

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




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NEWS SUMMARY 
 March  22 - 29 


+ Alberta lands sales; Mar. 23rd netted $8.66 million, Mar. 9th netted $8.2 million

+ B.C. land sale for 2015/16 $15.93 million, lowest in 38 yrs.

+ Bank of Canada released its Annual Report for 2015

+ Condor Petroleum Inc. completed its acquisition of Marsa Energy Inc.

+ Corus Entertainment Inc. got CRTC approval for its acquisition of Shaw Media

+ current energy prices – live link to Bloomberg energy prices; crude prices bobbling under/over US$40/bbl after long weekend … but traders are encouraged by lower drilling activity in the U.S.

+ EVOQ Architecture is the new name for Fournier, Gersovitz, Drolet Associates

+ FACILITYCalgary’s OP-ED page, guest article: ‘Growth Management: focusing on priorities’,by Wendell Cox -  click VIEWPOINT TAB

+ Gear Energy Ltd. announced its 2016 CapEx Budget is $10 million

+ GOA opened an office in Guanzhou, China (housed within the Canadian Consulate)

+ GOA extended the release date for its new Royalty details, again; release date is now April 21; to go into effect Jan. 1/17

+ Midwest Oil & Gas Company Limited completed its $89.2 million acquisition of Mart Resources Inc.

+ Notley government froze salaries at provincial agencies, boards and commissions; 2-yr. freeze starts April 1, 2016

+ TransCanada Corporation is reported marketing $7 billion in power generation projects to fund its acquisition of Columbia Pipeline Group

+ Trudeau Government Budget angina; Finance Minister Morneau delivered good news for everyone – organizations, institutions and municipalities are chiming in with glowing endorsements, coast to coast because there are good words and a little hope for just about every cause near and dear to everyone who cast a Liberal ballot, but really? … $29.4 billion deficit with a promise to balance in 5 yrs. We’ve heard these tunes before – almost always from Liberal governments. It would seem voters are getting what they voted for, but it seems we are ALL going to have to pay for it …

+ Univar Canada Ltd. acquired Nexus Ag Business Inc.

+ Veresen Inc. secured its first LNG customer for its Jordan Cove, Oregon LNG facility; JERA (a JV of Tokyo Electric Power Company Inc. and Chuba Electric Power Co.) – a 20 yr. initial term contract to provide 1.5 million tonnes/yr of LNG

+ WCC LNG applied for a 40 yr. LNG export licence; for up to 30 million tonnes/yr.

+ Woodside Petroleum Ltd. and Royal Dutch Shell scrapped their plans for a $40 billion LNG export terminal in Australia




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Divergent Energy Services Corp. closed $167,325 tranche of its equity financing

+ Kelt Exploration Ltd. is on the market to raise $22.1 million in equity

+ Milestone Apartments REIT and MileSouth Apartment Portfolio LP are on the market to raise $100.2 million in equity

+ Pennine Petroleum Corporation is on the market to raise $1.5 million in equity

+ RMP Energy Inc. closed $34.5 million equity financing

+ Secure Energy Services Inc. closed $150 million equity financing

+ Tidewater Midstream and Infrastructure Ltd. closed $80.5 million equity financing




INTERESTING REAL ESTATE NEWS, other places


+ Brookfield Canada Office Properties closed the $285 million sale of its Royal Centre project in Vancouver

+ Crown Realty Partners and Crestpoint Real Estate Investments acquired joint ownership of Allstate Corporate Centre in Markham, ON; 575,000 sq. ft. A-class campus/BOMA Best Silver

+ Edmonton’s Blatchford (former City Centre Airport lands) project is on hold; $238 million redevelopment project delayed for one year over concerns about carbon-neutral energy parameters … or is it just the economics?

+ MEC (Mountain Equipment Co-op) is opening its 2nd store in Edmonton; 35,000 sq. ft. store in South Edmonton Common this fall. Their original store is relocating also – to First Capital Realty’s Edmonton Brewery District project opening spring 2017.

+ Marriot’s deal to acquire Starwood took an interesting turn; Anbang Insurance Group raised its offer to US$14 billion … tic toc




 INFRASTRUCTURE / P3  


+ Etobicoke Healthcare Partnership (Axium Infrastructure Canada and DIF Infra 4 Canada Ltd., Walsh Canada, HDR Architecture, Brookfield Securities LP and Cofely Services Inc.) selected as Preferred Proponent (design, build, finance, maintain) for the new Etobicoke General Hospital Phase 1 Patient Tower Project

+ Fairfax India and its Canadian parent (Fairfax Financial Holdings Ltd.) agreed to acquire 33% equity interest in Bangalore International Airport Ltd. from GVK (Siemens et al) for $321 million

+ Fiera Capital Corporation and Aquila Infrastructure Management Inc. formed a JV; Fiera Infrastructure Inc. to have committed capital of $500 million

+ The Port Authority of New York & New Jersey gave the go-ahead for a US$4 billion makeover/renovation of LaGuardia Airport; LaGuardia Gateway Partners will lead the project under a 35-yr. lease to redevelop and operate Terminal B. Design work has been a HOK / Parsons Brinckerhoff JV.

+ Trudeau government’s first budget: a 5-yr. commitment to infrastructure spending of $11.9 billion [$347.2 million of it Alberta bound], which doesn’t seem like so much when you consider 5 yrs/10 provinces + territories – in fact it seems pretty pale; press clippings about water system and transit upgrades in cities is all good news, but really, $11.9 billion over 5 yrs. isn’t much of a commitment to anything. Yes, it’s touted as Phase 1, with a Phase 2 to come – but given the size of the deficit and time-passing from when election promises were made, I’m not holding my breath …




 this week in REITS 


+ Milestone Apartments REIT and MileSouth Apartment Portfolio LP are on the market to raise $100.2 million in equity

+ Slate Retail REIT closed the sale of Madison Centre in Madios, Alabama for US$9.10 million




 QUOTES

+ You don’t want another Enron? Here’s your law: if a company can’t explain in one sentence what it does … it’s illegal. – Lewis Black

+ Good writing is supposed to evoke sensation in a reader – not the fact that is raining, but the feeling of being rained upon. – E.L. Doctorow




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