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FACILITYCalgary June28/22

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Blake Hutcheson to Pres. & Chief Pensions Officer @ Ontario Municipal Employees Retirement System (OMERS)

+ Bob Cummings to Exec. VP, Strategy and Guest Services @ WestJet

+ Brian Jean, MLA for Fort McMurray-Athabasca and former leader of the official opposition @ Government of Alberta, resigned his seat

+ Diane Giard, Exec. VP @ National Bank of Canada retiring

+ Faheen Tejani to Pres. @ Mortgage Company of Canada Inc.

+ James Taylor to Sr. VP & COO @ Crew Energy Inc.

+ Jameson Weber to Global Head of Special Situations @ QuadReal Property Group

+ Jay Kwan to Managing Director, Europe @ QuadReal Property Group

+ Jean-Jacques Ruest to Interim CEO @ Canadian National Railway Co.

+ Ken Stickland to Chairman @ Whitecap Resources Inc.

+ Luc Jobin, CEO @ Canadian National Railway Co., fired

+ Lucie Blanchet to Exec. VP Personal Banking and Marketing @ National Bank of Canada

+ Marlene Puffer to CEO @ CN Pension Plan

+ Paul Burns to Pres. & CEO @ Canadian Gaming Association

+ Rae Merson, Director @ The Second Cup Ltd., resigned

+ Scott Pennock to Director, Interior Design @ Riddell Kurczaba Architecture

+ Stephen Mandel to Leader @ Alberta Party

+ Stephane Achard to Exec. VP Commercial Banking and Insurance @ National Bank of Canada

+ Steven Greenway to Pres., Swoop @ WestJet

+ Steven Joyce to Trustee @ Artis REIT

+ Sue Hutchison to Chief Commercial Officer @ Payments Canada

+ Tom Whalen to Interim Pres. & CEO @ Petroleum Services Association of Canada


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




 MEMORIAM

+ Peter Boyd, co-founder, former Pres. & CEO @ ARCIS Seismic Solutions Corp., arts patron; 63




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ do employees understand their organizations’ values? …thoughtful essay




 QUOTES 

+ Hope is like a road in the country; there was never a road, but when many people walk on it, the road comes into existence. – Lin Yutang

+ The eyes are useless when the mind is blind. - unknown




 KUDOS 

+ to Borden Ladner Gervail LLP … for donating $150,000.0 to the Sheldon Kennedy Child Advocacy Centre




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+ AIMCo – Alberta Investment Management Corporation

+ 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

+ LPG – Liquefied Propane 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

+ PSP – Public Sector Pension Investment Board

+ 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


FACILITYCalgary
current week data

this  site is refreshed with a new issue every Tuesday morning


updated March 6, 2018




 TODAY'S HEADLINES


HEADLINES: ACAD to U | Chevron marketing LNG | Federal Budget | Newalta/Tervita merger | Rogers Insurance expansion | Suncor ‘new’ plant + Lance Laliberte interview  + deals + rig counts + upcoming events, appointments + climate change + infrastructure + REIT NEWS + financings




CONVERSATIONS

This week's conversation with Lance Laliberte, VP Office Furniture @ Premiere Office Furniture

A recent conversation with Pam Heard, Executive Director @ the Prostate Cancer Centre

A recent conversation with Joanne Young, Founder/CEO/Pres. @ Greenery Office Interiors Inc. 

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



 sponsors of this week's issue:

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



e-mail to Sharon Martens
 
ARCHITECTURE + INTERIOR DESIGN



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



PUT YOUR 
COMPANY HERE
 Advertising/sponsorship queries:  kolke@facilitycalgary.com 
SEE YOUR 
BRAND HERE



e-mail Norm Landry
 
PROJECT MANAGEMENT



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



CONTACT MARK KOLKE 
RESIDENTIAL SALES



 SAVE THE DATE / upcoming events

+ Mar. 8; Fourth Session, Twenty-Ninth Legislature of Alberta, Edmonton

+ Mar. 21-23; Economic Developers of Alberta; Annual Conference, Banff Centre, Banff; info/register

+ Mar. 21; EPAC Awards Luncheon, Calgary Petroleum Club, info/tickets

+ April 11; Calgary Chamber of Voluntary Organizations, Connections Conference 2018; Ross Glen Hall, Mount Royal University, Calgary; info/register

+ June 11-13; NeoCon 50th Anniversary Trade Show & Conference, theMart, Chicago; info/register

+ June 12-14; Global Petroleum Show, Stampede Park, Calgary; event guide

+ Sept. 3-5; World Heavy Oil Congress & Exhibition, Oman Convention Centre, Muscat, Oman; info/register


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



 SHAREHOLDER MEETINGS

+ Mar 7; Servus Credit Union, Annual General Meeting, Calgary

+ Mar. 23; Pure Industrial REIT, Special Meeting of Unitholders, Vancouver

+ Apr. 5; CIBC, Annual Meeting of Shareholders, Halifax

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


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



 CHARITY GOLF TOURNAMENTS 

+ June 21; 57th Annual CSPG Classic Golf Tournament, Elbow Springs Golf Club, Calgary; info/register


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



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NEWS SUMMARY 
 February 27 ~ March 6 


+ Alberta College of Art + Design (ACAD) given University status by the GOA; Red Deer College and Grande Prairie Regional College also give permission to become degree-granting universities

+ Chevron Corp. negotiating to sell its stake in $36.0 billion Kitimat LNG project

+ current energy prices – live link to current Bloomberg energy prices; crude dipped last week, recovered over the weekend, limping along amid U.S. shale output growth …

+ federal budget: 2018 budget shows the federal government's operating expenses at $95.6 billion in fiscal 2018 – more than 8% higher than projected in the 2017 budget, and up 16% from the 2016 figure; read a full CD Howe Institute analysis of the budget

+ GFL Environmental Inc. closed its acquisitions of Smithrite Disposal and Carney’s Waste Systems
+ Newalta Corporation and Tervita Corporation agreed to merge in an all shares arrangement; will operate as Tervita Corporation

+ North West Refining and CNRL have withdrawn/postponed plans to build the second phase of the Sturgeon Refinery due to current prices; partners in the JV are reassessing the situation … tic toc

+ Petrolia Energy Corporation closed its acquisition of Bow Energy Ltd. in an ‘all shares’ transaction

+ rig counts: down 4 this week to 302 – complete breakdown

+ Rogers Insurance Ltd. acquired Sylvan Agencies Ltd., Procom Insurance Brokers and Inowest Insurance Brokers; to amalgamate as Rogers Insurance Canada Ltd.

+ Suncor Energy Inc. closed its acquisition of 5% interest in Syncrude from Mocal Energy for US$730.0 million; Suncor now holds 58.74% of Syncrude

+ Suncor Energy Inc. filed application for regulatory approval for a new steam-based oil sands project; ‘Lewis’ project will produce 160,000 bbl/day

+ Tourmaline Oil Corp. closed $72.0 million sale of some minor assets

+ Trump bully-tactics on trade has taken U.S. trading partners and U.S. politicians by surprise as he threatens a 25% tariff on steel and 10% tariff on aluminum, to the chagrin of supplier and manufacturers in Canada - but the threat of looming NAFT renegotiations, it has more the sound/smell of a negotiating tactic that timing and reluctance of his own congress may stop him ... tic toc

+ U.S. January rig counts: up 1 to 800; Baker Hughes summary report




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Boralex Inc. closed €136.0 million debt and equity financing

+ GardaWorld Security Corporation closed US$125.0 million sr. debt financing

+ Great-West Lifeco Inc. closed $500.0 million debt financing

+ Hydro-Quebec closed $500.0 million debt financing

+ Marksmen Energy Inc. is on the market to raise $600,000.0 in equity by private placement

+ Relentless Resources Ltd. is on the market to raise $8.25 million in equity by private placement

+ Pinnacle Renewable Holdings Inc. closed $22.5 million equity financing

+ Relentless Resources Ltd. is on the market to raise $7.5 million in equity by private placement

+ Renaissance Oil Corp. closed $11.1 million equity financing by private placement

+ SNC-Lavalin is on the market to raise $525.0 million in unsecured debt financings

+ Toronto-Dominion Bank is on the market to raise $350.0 million by a preferred share issue

+ True North Commercial REIT closed $40.3 million equity financing

+ Valeura Energy Inc. closed $60.0 million equity financing




 this week in REITS 


+ BTB REIT agreed to sell its Joseph Boulevard property in Drummondville, QB for $3.075 million

+ Invesque Inc. agreed to acquire Mohawk REIT for US$142.0 million

+ Steven Joyce to Trustee @ Artis REIT

+ True North Commercial REIT closed $40.3 million equity financing




 INFRASTRUCTURE / P3  


+ Infrastructure Ontario issued an RFP to shortlisted teams to design, build and finance the Davenport Diamond Rail Grade Separation project

+ Infrastructure Ontario awarded $131.2 million contract to build and finance the Brockville General Hospital – Phase 2 Redevelopment project to EllisDon

+ Infrastructure Ontario issued an RFQ to build and finance the Lakeshore East – West Corridor Expansion project




 CONSTRUCTION NEWS + INNOVATION 

+ 2018 Wood Design Awards – check out the winners …

+ GBCI launched Canadian operations – to drive adoption of green buildings

+ what’s next for the Grenfell Tower?




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Industrial Realty Group LLC acquired IBM’s ‘IBM Rochester’ 3.1 million sq. ft./34 building campus (490 acre site) south of Minneapolis; IBM will leaseback 8 buildings; terms not disclosed




 INTERESTING THINGS IN RETAIL 


+ BMO Financial Group announced plans to create a new 350,000 sq. ft. urban workplace at CF Toronto Eaton Centre; four storey atrium ..

+ MTY Food Group Inc. completed its $49.9 million acquisition of Imvescor Restaurant Group




 CORPORATE RESPONSIBILITY REPORTS  


+ CIBC published its 2017 Responsibility and Public Accountability Report

+ Royal Bank of Canada published its 2017 Corporate Citizenship Report




 SUGGESTIONS / COMMENTS:
 
feedback@facilitycalgary.com



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