+ Adnan Abidan to Pres. & CEO @ Pacific NorthWest LNG

+ Bill Cummins, CFO @ Petromanas Energy Inc., terminated

+ Glenn McNamara, CEO @ Petromanas Energy Inc., terminated

+ Janis Grantham to CEO @ Eagle Professional Resources

+ John McCoach, Pres. @ TSX Venture Exchange, retired

+ Karen Houng to CEO @ United Way of Calgary

+ Lisa Butler to Chief Talent & Diversity Officer @ Manulife Financial Corporation

+ Lucy Miller, CEO @ United Way of Calgary, retiring

+ Ross Logan, VP and Broker of Record, Edmonton @ Colliers Macaulay Nicolls Inc., retiring

+ Sean Dell’Orto to CFO @ Hilton Worldwide REIT (new REIT being formed)

+ Thomas Blatimore Jr. to Pres. & CEO @ Hilton Worldwide REIT (new REIT being formed)

+ Travis Beatty to CFO @ Northview Apartment REIT

+ Verne Johnson to Interim CEO @ Petromanas Energy Inc.

+ Vicki Hollub to CEO @ Occidental Petroleum Corp.

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

+ May 3; Black Diamond Group Limited, Annual General Meeting of Shareholders, Calgary

+ May 3; Economical Insurance, Annual Meeting, Kitchener

+ May 3; Encana Corporation, Annual Meeting of Shareholders, Calgary

+ May 3; WestJet Airlines, Annual General Meeting, Calgfary

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

+ May 5; Brookfield Real Estate Services Inc., Annual General Meeting, Toronto

+ May 5; Industrial Alliance Insurance, Annual Meeting, Quebec City

+ May 5; Manulife Financial Corporation et al, Annual Meetings, Toronto

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

+ May 5; CT REIT, Annual Meeting of Unitholders, Toronto

+ May 5; SNC-Lavalin, Annual Shareholders Meeting, Montreal

+ May 6; Enerplus Corporation, Annugal General Meeting, Calgary

+ May 6; TrimacTransportation Ltd., Annual General Meeting, Calgary

+ May 9; Inter Pipeline Ltd., Annual General Meeting of Shareholders, Calgary

+ May 10; Equitable Life of Canada, Annual Meeting of Participating Policy Holders, Waterloo

+ May 10; Keyera Corp., Annual Meeting of Shareholders, Calgary

+ May 11; Crown Capital Partners Inc., Annual Meeting of Shareholders, Calgary

+ May 11; Northern Blizzard Resources Inc., Annual Meeting of Shareholders, Calgary

+ May 11; Summit Industrial Income REIT, Annual Unitholders Meeting, Toronto

+ May 11; Sun Life Financial, Annual Meeting, Toronto

+ May 12; Enbridge Inc., Annual Meeting of Shareholders, Calgary

+ May 12; Enbridge Income Fund Holdings Inc., Annual Meeting of Shareholders, Calgary

+ May 12; Medical Facilities Corporation, Annual and Special Meeting of Shareholders, Toronto

+ May 13; Bellatrix Exploration Ltd., Annual General Meeting, Calgary

+ May 13; Inovalis REIT, Annual Meeting of Unitholders, Toronto

+ May 13; Pembina Pipeline Corporation, Annual General Meeting of Shareholders, Calgary

+ May 13; WPT Industrial REIT, Annual and Special Meeting of Unitholders, Toronto

+ May 16; Anderson Energy Inc., Annual and Special Meeting of Shareholders, Calgary

+ May 18; US Oil Sands Inc., Annual General and Special Meeting of Shareholders, Calgary

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

+ May 19; Crombie REIT, Annual General Meeting, New Glasgow, NS

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

+ May 25; CAP REIT Annual Meeting of Unitholders, Toronto

+ May 31; Bankers Petroleum Ltd., Special Meeting of Shareholders, Calgary

+ June 1; Titan Logix Corp., Special meeting of Shareholders, Edmonton

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

+ True happiness comes from the joy of deeds well done, the zest of creating things new. – Antoine de Saint-Exupery

+ Nothing ever becomes real till it is experienced. – John Keats

+ 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

+ 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

+ 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 May 3, 2016

NEWS | Bell paying $3.9 billion for MTS | crude⬆up | Freehold paying $165 million for Husky royalties | Halliburton paying US$3.5 breakup fee to Baker Hughes | Ritchie Bros. record sale | Suncor spends $937 billion to up its Syncrude stake | Trimac going private + Bill Evans interview | upcoming events, appointments, oil sands/heavy oil + climate change + infrastructure + REIT NEWS + financings >>>>

+ Anuar Taib to Chairman @ Pacific NorthWest LNG

+ Anuar Taib to Chairman @ Progress Energy Canada Ltd.

+ Barrie Strafford, Founder & Chairman @ Brenda Strafford Foundation, died

+ Bonnie DuPont to Director @ NAV Canada

+ Ivan Scott to Director @ Highbank Resources Ltd.

+ Michael Culbert to Country Chair, Canada @ Petronas

+ Rhonda Zygocki to Director @ Cenovus Energy Inc.

+ Richard Marcogliese to Director @ Cenovus Energy Inc.

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+ Alimentation Couche-Tard Inc. closed its acquisition of Shell’s retail business in Denmark

+ BCE Inc. agreed to a $3.9 billion takeover Manitoba Telecom Services Inc.; Bell will make its Western Canada HQ in Winnipeg

+ Calfrac Well Services Ltd. have moved to ‘variable pay’ to avoid further staff cuts

+ ConnocoPhillips reduced its 2016 CapEx Budget from US$6.4 billion to US$5.7 billion

+ current energy prices – live link to Bloomberg energy prices;  oil closed the month up the most in a year; U.S. production slumped to lowest level since Oct 201 – WTI bobbing about and below US$45/barrel

+ FACILITYCalgary’s OP-ED page, guest article: ‘Service as it once was!’ by Mark Kolke, Realtor/small business owner, and publisher of FACILITYCalgary - click VIEWPOINT TAB

+ Freehold Royalties Ltd. agreed to $165 million acquisition of royalty production and mineral title lands from Husky Energy Inc.

+ Halliburton and Baker Hughes called off their US$35 billion merger; the breakup-fee would break many companies; Halliburton will pay Baker Hughes US$3.5 billion for its trouble; ouch!

+ Meridian Credit Union closed its acquisition of Roynat Lease Finance from Scotiabank

+ NEB (National Energy Board) published its whistleblower procedure

+ NEB released its timeline for the Energy East hearing process

+ Pacific Exploration and Production Corporation filed for CCAA protection

+ Ritchie Bros. set a record last week in Edmonton: their auction of 10,200 items fetched $240 million for 1,125 sellers: 16,700 bidders participated (58% were on-line participants)

+ Sears Canada Inc. closed $83.9 million sale/leaseback transaction of its National Logistics Centre in Calgary; buyer was CT REIT

+ Suncor Energy agreed to acquire Murphy Oil Corporation’s interest in Syncrude for $937 million; this will bring Suncor’s holding in Syncrude to 53.74%, up from 48.74% before the transaction

+ Surge Energy Inc. closed $43 million sale of Sunset and Valhalla assets

+ Trimac Transportation Ltd. announced a proposed going-private transaction let by major shareholder Trimac Holdings Ltd.

+ Ultra Petroleum Corp. filed for Chaper 11 bankruptcy protection; US$3.9 billion in debt

+ Alimentation Couche-Tard Inc. is on the market to raise €750 million in sr. unsecured debt

+ Boralex Inc. secured a $360 million refinancing of its revolving credit facility; up from its $175 million facility currently in place

+ Firm Capital Mortgage Investment Corporation closed $25,367,850 overallotment of its recent equity financing

+ Freehold Royalties Ltd. is on the market to raise $185 million in equity

+ Kelt Exploration Ltd. closed $90 million convertible debt financing

+ Pembina Pipeline Corporation Closed $250 million preferred share issue

+ Petrowest Corporation closed $11.5 million equity financing

+ Peyto Exploration & Development Corp is on the market to raise $150 million in equity

+ Tanager Energy Inc. is on the market to raise $1,225,000 in secured convertible debt

+ Uravan Minerals Inc. is on the market to raise $300,500 in equity

+ to the University of Calgary, celebrating its 50^th anniversary; and for its ‘Energize: The Campaign for Eyes High’ – a $1.3 billion ambitious fund raising program

+ to 2016 Calgary Business Hall of Fame Inductees: Mac Van Wielingen, Ron Southern, Ross Glen and Cal Wensel

+ Spruceland Properties Inc. closed a portfolio sale of Edmonton commercial properties and JV interests (11 wholly owned properties and 6 JV interests) for $45.8 million

+ CPPIB agreed to acquire Hotelbeds from Spanish owner TUI for $1.65 billion

+ COP21 Paris Agreement now has 177 signatories; agreement still needs to be ratified by at least 55 countries covering 55 per cent of global carbon emission in order for it to ‘come into force’ … tic toc …

+ San Francisco Board of Supervisors passed legislation to require buildings with less than 10 floors to install solar panels or solar water heaters on top of new residential and commercial buildings; first major US city to mandate solar panels on new construction

+ GOA agreed to provide TransAlta $5.5 million annually to offset power generation disruptions to do with government control over reservoir levels (Barrier Lake, Kananaski Lake, Lower Kananaskis Lake, and Ghost Lake; seems odd to this observer … isn’t it taxpayers’ water, taxpayers’ damns and taxpayers/ratepayer who’ve given TransAlta the right to harvest power (which they then sell to us in a de-regulated market) and, because they will occasionally be directed to increase or decrease the water flow, we same taxpayers/ratepayers have to pay them to power they don’t produce … whether or not it floods?  Joe … Rachel … this does not make sense …

+ GOA announced a $17 million funding announcement; to University of Calgary to explore redevelopment options for its oldest building; $8.6 million/yr. for two years to repurpose use of The MacKimmie Block and Tower buildings

+ NCC (National Capital Commission) has given the nod to RendezVous LeBreton Group over the proposal from Devcore Canderal DLS to redevelop the LeBreton Flats area of Ottawa; the project will include a new home for Ottawa Senators NHL team

+ CAPREIT (the American firm based in Rockville, Maryland) acquired 978-unit rent-controlled portfolio in Richmond, Virginia for US$68.5 million

+ Sean Dell’Orto to CFO @ Hilton Worldwide REIT (new REIT being formed)

+ Sears Canada Inc. closed $83.9 million sale/leaseback transaction of its National Logistics Centre in Calgary; buyer was CT REIT

+ Thomas Baltimore Jr. to Pres. & CEO @ Hilton Worldwide REIT (new REIT being formed)

+ Travis Beatty to CFO @ Northview Apartment REIT

+ Suncor Energy agreed to acquire Murphy Oil Corporation’s interest in Syncrude for $937 million; this will bring Suncor’s holding in Syncrude to 53.74%, up from 48.74% before the transaction