+ Enbridge Inc. cut its workforce 5%; 500 full-time jobs gone and long 100 jobs left unfilled; 250 of those in Alberta
+ Enbridge Inc. restarting it’s Line 9 project next month – project will reverse previous direction, will deliver western Canadian and U.S. Bakken crude to Quebec refiners
+ Encana Corporation closed its US$850 million sale of its Haynesville natural gas assets to GEP Haynesville LLC
+ Finning Internationals is closing 27 locations; reducing 1,100 jobs worldwide – 440 of those in Western Canada
+ Forent Energy Ltd. agreed to acquire a portfolio of Twinning area crude oil assets for $4 million
+ GDI Integrated Facility Services Inc. closed its acquisition of Ainsworth Inc.
+ Gear Energy Ltd. announced its 2016 CapEx Budget is $31 million
+ Gran Tierra Energy Inc. agreed to acquired PetroAmerica Oil Corp.
+ Marriott International agreed to acquire Starwood Hotels and Resorts Worldwide for US$12.d billion; deal would make Marriott the world’s largest hotelier with 1.1 million rooms
+ Oryx Petroleum Corporation Limited announced its 2016 CapEx Budget is $31.8 million
+ Painted Pony Petroleum Ltd. announced its 2016 CapEx Budget is $215 million
+ Rogers Insurance Ltd. entered the Ontario market; acquired a controlling interest in CCV Insurance & Financial Services Inc.
+ TransCanada Corporation awarded US$500 million contract to construct Tuxpan Tula natural gas pipeline in Mexico
+ TransCanada Corporation sub. NOVA Gas Transmission secured new contracts which will require expansion of its system; $570 million capital cost of expansion to be completed by 2018
+ TransGlobe Energy Corporation announced its 2016 CapEx Budget is $41 million
+ Tsawwassen First Nation announced their intention to develop and LNG export terminal at Roberts Bank, BC … tic toc …
+ Veresen Inc. announced it will build a wholly-owned ethane storage facility near Burstall, SK; capital cost expected to be $140 million
+ Whitecap Resources Inc. announced its 2016 CapEx Budget is $205 million
THIS WEEK IN FINANCINGS
- proposed & closed
+ AltaGas Ltd. is on the market to raise $200 million in a preferred share issue
+ Avigilon Corporation secured US$240 million credit facility
+ BTB REIT is on the market to raise $25 million in convertible debt
+ CGX Energy Inc. is on the market to raise US$1.5 million in convertible debt
+ Gear Energy Ltd. is on the market to raised $25.8 million in equity
+ Hydro One Limited closed $167 million overallotment of its recent IPO
+ IBI Group Inc. is on the market to raise $6,723,000 in a rights offering
+ LGX Oil + Gas Inc. secured $30 million credit facility
+ Pembina Pipeline Corporation is on the market to raise $400 million in equity
+ PetroMaroc Corporation plc closed $1.0 million debt financing
+ Strata-X Energy Ltd. closed A$ 563,000 equity financing
+ Sunshine Oilsands Ltd. closed $8.585 million equity financing
+ Teekay Corporation is on the market to raise US$200 million in sr. unsecured debt
+ Tilting Capital Corp. closed $399,000 trance of its debt financing
CLIMATE CHANGE / LEED / RENEWABLE ENERGY
+ the American National Coal Council issued a report: Leveling the playing field, addressing Carbon Capture for the coal industry
INTERESTING REAL ESTATE NEWS, other places
+ Berezan Group and Sts’ails Band JV got BC government approval for $1.5 billion expansion of Hemlock Ski Resort near Agassiz, BC
+ Blackstone Group LP agreed to buy US$3 billion in real estate fund investments from California Public Employees Retirement System (CALPERS)
+ Manulife’s sub. John Hancock acquired 5000 Birch in Newport Beach, California; 306,000 sq. ft. Class A/2 building projects for US$104.5 million
+ Marriott International agreed to acquire Starwood Hotels and Resorts Worldwide for US$12.d billion; deal would make Marriott the world’s largest hotelier with 1.1 million rooms
+ Sears Canada agreed to a sale/lease back transaction for its distribution centre north of Toronto; $100 million sale will close in 2016
this week in REITS
+ Agellan Commercial REIT announced its intention to sell its Ontario assets and focus on being an all-U.S. trust over the next year
+ BTB REIT is on the market to raise $25 million in convertible debt
KUDOS
+ to Pembina Pipeline Corporation – raised $2.6 million for United Ways, $2,326,396 for United Way of Calgary and Area
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