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news, commentary & perspective - financings, deals - commercial real estate, infrastructure, oil & gas

FACILITYCalgary May 6/25

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SHAKERS AND MOVERS 
moving, retired, resigned, died or left the company

+ Bernadette Majdell to CEO @ HomeSpace Society

+ Bob Sartor to Pres. & CEO @ Calgary Airport Authority

+ Donald Webster, COO @ Essential Energy Services Ltd., resigned

+ Doug Shim to CFO & Corp. Secretary @ ePlay Digital Inc.

+ Garth Atkinson, Pres. & CEO @ Calgary Airport Authority, retiring

+ Herve Mallet to Pres. & CEO @ McInnis Cement

+ Jolene Cashin to Partner @ Kenway Mack Slusarchuk Stewart LLP

+ Judy McKellar to Exec. VP & Chief Human Resources Officer @ Hydro One Limited

+ Laura Jo Gunter to Pres. & CEO @ Bow Valley College

+ Lucy Miller, Pres. & CEO @ Calgary United Way, retiring

+ Mark Servello to Partner @ Kenway Mack Slusarchuk Stewart LLP

+ Paula Keays to Pres. @ McKesson Canada

+ Raymond Smith to Interim Pres. & CEO @ Bellatrix Exploration Ltd.

+ Robert Ellsworth Jr., Interim CEO @ Niko Resources Ltd., resigned

+ Sharon Carry, Pres. & CEO @ Bow Valley College, stepping down

+ Tim Stauft to Sr. VP @ Seven Generations Energy

+ Trevor Doerksen to CEO @ ePlay Digital Inc.

+ William Hornaday to CEO @ Niko Resources Ltd.


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




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ CIBC study ‘On The Quality of Employment in Canada’ reflects a deterioration of job quality over last two decades; almost two-thirds of Canadian earn less than the average wage

+ worry about fraud is growing; scammers sending fake e-mails/instructions from the boss to disburse money .. scarey stories!




 NEW TECH + TOOLS TO WATCH 

+ Logojoy – build/design your own logo …

+ Watson – a backpack/laptop case for the future; crowdsourcing startup and taking orders




BOARDROOM changes, purges, appointments etc.

+ Bill McEwan to Director @ AIMIA Inc.

+ Brent Perry to Chair, Board of Governors @ The Canadian Tax Foundation

+ Donald Clow to Trustee @ Granite REIT

+ Donald Close to Director @ Granit REIT Inc.

+ Gerald Slemko to Director @ EllisDon

+ Gillain Lawrence to Director, International Board @ Commercial Real Estate Women (CREW)

+ Gordon Campbell to Director @ Grosvenor Americas

+ Henrik Slipsager to Director and Chairman @ Imperial Parking Corporation

+ Jim Carter to Director @ EllisDon

+ Lynne Kellner to Director @ ePlay Digital Inc.

+ Sarah Morgan-Silvestor to Director @ Grosvenor Americas

+ Scott Brandt to Director @ Niko Resources Ltd.

+ Thomas Gardner to Director @ AIMIA Inc.


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




 SHAREHOLDER MEETINGS

+ Nov. 30; C02 Solutions Inc., Annual and Special Meeting, Quebec City

+ Nov. 30; Tervita Corporation, Security Holders and Shareholders Meetings, Calgary

+ Dec. 2; DirectCash Payments Inc., Special Shareholders Meeting, Calgary

+ Dec. 7; Jasper Mining Corporation, Annual General Meeting, Calgary

+ Dec. 12; Chinook Energy Inc., Special Meeting of Shareholders, Calgary

+ Dec. 15; Enbridge Inc., Special Meeting of Shareholders – Spectra Energy Combination, Calgary

+ Dec. 15; Resverlogix Corp., Annual and Special Meeting, Calgary

+ Dec. 15; Rooster Energy Ltd., Annual General Meeting of Shareholders, Houston

+ Jan. 11; Nav Canada; Annual Meeting, Ottawa


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



  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

+ GJ – gigajoule

+ GLA – gross leasable area

+ GOA - Government of Alberta

+ GOM – Gulf of Mexico

+ GTA – greater Toronto area

+ 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 …

+ UDI – Urban Development Institute

+ WTI – West Texas Intermediate crude benchmark price

+ WTO – World Trade Organization

+ YYC – YYC Calgary International Airport




 SUGGESTIONS / COMMENTS:
 
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current week data

this  site is refreshed with a new issue every Tuesday morning


updated Nov. 29, 2016




 TODAY'S HEADLINES


HEADLINES: Baytex closed $65 million purchase | Enbridge ‘approvals or not’ day | crude price volatility on OPEC deal speculation| GOA ‘holding steady’ deficit | GOA power agreement settlements | Lightstream restructuring | Uber coming to Calgary + Gabby Franco interview | upcoming events, appointments, oil sands/heavy oil + climate change + infrastructure + REIT NEWS + financings 




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 Gabby Franco of Jiaming Investment Group

Last week's conversation with Mark Hopkins, 'Total Rewards' Director/Mensch at Brookfield Residential Properties

A recent conversation with Colleen Braun of BION Consulting

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



 QUOTES

+ Finishing races is important, but racing is more important. – Dale Earnhardt

+ Diplomats are just as essential to starting a war as soldiers are for finishing it. You take diplomacy out war, and the thing would fall flat in a week. – Will Rogers




 KUDOS 

+ to the Calgary Stampeders; while they lost this year’s Grey Cup Game to Ottawa in overtime, it was a highly entertaining come-from-behind nail-biter and heads should be held high




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COMMERCIAL INTERIOR CONSTRUCTION



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OFFICE AND INDUSTRIAL LEASING



CONTACT MARK KOLKE 
RESIDENTIAL SALES



 this week in REITS 


+ Automotive Properties REIT agreed to acquire Audi and Volkswagen dealership properties in St. Bruno, QB for $14.3 million

+ Donald Clow to Trustee @ Granite REIT

+ Donald Close to Director @ Granit REIT Inc.

+ True North Commercial REIT closed its $34.0 million acquisition of 3650 Victoria Park Avenue, Toronto; 154,300 sq. ft. 9-storey office building, 551 parking stalls and 4.36 acres of land




INTERESTING REAL ESTATE NEWS, other places


+ AutoCanada Inc. agreed to acquire another dealership: Guelph Hyundai; includes site and 29,726 sq. ft. facility

+ Mainstreet Health Investments Inc. agreed to acquire three ‘memory care communities’ in Arkansas and Tennessee (171 units) for US$44.3 million




 SAVE THE DATE / upcoming events

+ Nov. 29 - Dec. 1;  Real Estate Forum & Global Property Market, Metro Toronto Convention Centre; info/register SOLD OUT

+ Nov. 30; OPEC Ministers - 171st Meeting, Vienna

+ Dec, 6-7: Alberta-US Trade Summit, TELUS Convention Centre, Calgary; info/tickets

+ Dec. 9; BOMA Best - Environmental Standards, Eau Claire Tower Conference Centre; registration - complimentary for BOMA Members

+ Dec. 9: Alberta Securities Commission - open forum; Propsoals to Enhance Obligations of Advisors, Dealers and Representatives; Centennial Place Conference Centre, Calgary; register to attend

+ Dec. 15; Canadian Pensionis & Benefits Institute - Pensions in Alberta: The Road Ahead, Fairmont Palliser, Calgary; info/register

+ Jan. 27=29; IGNITE Design Competition; CSC sponsored student competition; SAIT & MRU; tickets/info

+ Feb. 7 - 9; ConvergX 2017 - Global Defence & Energy Conference; Calgary; info/register

+ Mar. 22-24/2017; Economic Developers Alberta Annual Conference 'Embracing Change; Creating Opportunity', Banff Centre, Banff; info/registration

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

+ June 13 - 15/2017; Global Petroleum Show, Stampede Park, Calgary; info/save the date

+ Sept. 12-13/2017; Oil Sands Trade Show & Conference, Suncor Community Leisure Centre, Fort McMurray; info/registration

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


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



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NEWS SUMMARY 
 Nov. 22 ~  29 


+ Advantage Oil & Gas Ltd. announced its 2017 CapEx Budget is $205.0 million

+ Anbang Insurance is adding to its North American portfolio; agreed to a portfolio buy reported to be in excess of $1.0 billion by acquiring a majority stake in Vancouver based Retirement Concepts (operates 24 properties in Vancouver, Calgary and Montreal

+ Baytex Energy Corp. agreed to acquired $65.0 million in Peace River area heavy oil assets

+ Cara Operations Limited closed its $93.0 million acquisition of Original Joe’s Franchise Group Inc.

+ current energy prices – live link to current Bloomberg energy prices; crude prices wobbly this week after a strong week just passed, on concerns OPCE won’t strike a deal, but up in Tokyo (what do they know?) …

+ FREE TO A GOOD HOME: I have three (3) perfectly good 15” flat computer screens (HP & Dell); I’ve replaced them with bigger ones for my middle-aged eyes, but these should be used by someone – so, FREE to a not-for-profit or unemployed person who can use them; email: kolke@markkolke.com  …

+ GOA deficit ‘steady’, now forecast at $10.9 billion – 2nd qtr. fiscal update

+ it wasn’t the advertisement headline as the content; the GOA is advertising for a CEO, for Energy Efficiency Alberta that struck me as odd. It wasn’t the “The CEO will be the voice and face of energy efficiency in Alberta” that got me, it was these words: “this new Crown agency, administering a five year $645.0 million budget”. Really? Seems we have to save a lot, just to offset the cost of the agency. Seriously, $645.0 million?

+ Lightstream Resources Ltd. got a winning bid to exit CCAA protection; ‘court approval pending’ for $1.3 billion restructuring with primary debt holders taking over the company, leaving shareholders empty handed – and a company poised to drill new wells on good properties … tic toc

+ OPEC representatives backed out of a meeting with non-OPEC producers; seems they still don’t have consensus themselves …

+ pipeline decision deadline dates came, and went; Trudeau government says announcement ‘soon’ for Enbridge Line 3 replacement/capacity increase and Enbridge Gateway line to the wet-coast; also coming soon, KinderMorgan expansion plans … tic toc

+ today is ‘decision announcement day’ for Enbridge; 2 pipelines will or won’t get approval by the federal cabinet today: Line 3 expansion and Northern Gateway … and everyone expects science and sound business to take a backseat to political expediency, Mr. Trudeau’s first big test of making some people very happy and some people very unhappy tic toc

+ Triovest acquired an interesting strip of foreclosure properties; south side of 7th Avenue SW, between Centre St. and 1st Street (properties back onto back of Stephen Avenue Mall heritage properties; watch for some clever half-restoration/half-preservation on structures that can be salvaged …

+ quick … so quick you might have missed it: Calgary City Council passed the 2017 budget last week; an effective tax freeze, offsetting a 1.5% increase by borrowing from the ‘rainy day fund’; so, what’s the catch, what’s the problem? … they are estimating 73% of non-residential properties and 79% of business tax payers will face a tax hike – so seeing assessment notices in January will make interesting reading … tic toc

+ Raging River Exploration Inc. closed its $58 million Viking acquisition in SW Saskatchewan from Northern Blizzard Resources Inc.

+ Total Energy Services Inc. announced its intention to make a takeover bid for Savanna Energy Services Corp; repudiated by Savanna … tic toc

+ TransForce Inc. is changing its name to TFI International Inc.

+ Uber is coming to Calgary in December after Calgary City Council approved bylaw amendments to ‘test it for 12 months’ …




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Baytex Energy Corp. is on the market to raise $100.0 million in equity

+ Bengal Energy Ltd. is on the market to raise $4.09 million by a rights offering

+ Blackbird Energy Inc. closed its $3.0 million acquisition of 10% interest in Stage Completions Inc.

+ Brookfield Infrastructure Partners L.P. is on the market to raise $750.0 million in equity

+ Calfrac Well Services Ltd. is on the market to raise $60.0 million in equity by private placement

+ CI Financial Corp. closed a $200.0 million debt raise

+ Clarocity Corporation closed $1.5 million tranche of its recent debt financing

+ ECN Capital Corp. is on the market to raised $100.0 million by a preferred share offering

+ Enbridge Inc. closed $750.0 million preferred share financing

+ Jericho Oil Corporation raised $3.92 million by a share and warrants issue by private placement

+ Karsten Energy Corp. closed $120,000.0 equity financing by private placement

+ Manitok Energy Inc. is on the market to raise $5.05 million by a common share and flow-through shares offering

+ Manulife Financial Corporation closed $475.0 million preferred share financing

+ Manulife Financial Corporation is on the market to raise US$270.0 million in sr. unsecured debt by private placement

+ Panorama Petroleum Inc. is on the market to raise $200,000 in equity by private placement

+ Prairie Provident Resources Inc. is on market to raise $5.3 million in flow-through equity

+ Raise Production Inc. is on the market to raise $5.0 million in equity by private placement

+ Savanna Energy Services Corp. secured $200.0 million in sr. secured debt

+ Savanna Energy Services Corp. secured $18,850,000.0 equity financing by private placement

+ Tervita Corporation is on the market to raise $410.0 million in equity

+ Traverse Energy Ltd. is on the market to raise $3,536,000.0 in equity by private placement




 CLIMATE CHANGE / LEED / RENEWABLE ENERGY  

+ Cape Sharp Tidal (JV between Emera and OpenHydro/DCNS); installation at Parrsboro is now operational and producing power – Canada’s first in-stream tidal energy!

+ COP 22 in Marrakech: conference summary

+ Dawsco Coffee, the office coffee service folks, started a K-cup recycling service for home and office users of Keurig K-cups; you can drop them in the bin outside their store …

+ Notley government continues to amaze, and we roll our eyeballs trying to figure out what is really going on; for background, the Klein-era government deregulated electricity markets, and earlier this year a Notley government regulatory change gave companies who argued they had the right under clauses which said ‘if the government changes laws or regulations which make these contracts more-unprofitable, they can be cancelled’, and producers cancelled them, and the government cried foul, started law suits – vowing to get to the bottom of it. It now appears the bottom is still far from clear view, but in the meanwhile the GOA is ‘partially regulating’ the market again – struck firm and/or tentative deals (which means they are spending $1.36 billion of our money to win agreement so far) with producers (Capital Power $734.0 million for example; EnMax hasn’t settled yet, arguing it is out of pocket $77 million …) to phase out coal by 2030 and they are introducing regulations forbidding producers from marketing on the door step … tic toc … this bomb has still not fully gone off, so expect it to cost us all much more to buy power and expect our government to spend/waste more money in the process. Yes, it does bogle the mind. I’m wondering, if the billions they are spending to change industry had instead been directed to research on the gasification of coal if we might have created jobs, generated new industry development and found better ways to use a resource that is so plentiful??? I doubt seriously that the final number will bear any relationship to $1.36 billion … because already the numbers defy all adding machines

+ three turbine manufacturers dominate U.S. wind energy market: GE, Vestas and Siemens – check out the graphs




 INFRASTRUCTURE / P3  


+ TransLink board and Mayor’ Council approval for $2.0 billion plan for expansion of Vancouver’s transit system – called Phase One of its 10-Year Vision




 CONSTRUCTION NEWS + INNOVATION 


+ green cement? …cement can go green too, read this article – see if you agree that CO2 generated to produce concrete is re-absorbed over its life cycle?




 OIL SANDS + HEAVY OIL NEWS

+ Baytex Energy Corp. agreed to acquired $65.0 million in Peace River area heavy oil assets

+ SAGD co-generation plants are expected to flourish, and perhaps be a big part of success in the wake of Notley government plans to phase out coal fired power generation


Unless otherwise noted, everything on this website is Copyright  Protected - © 1999 - 2025 - Mark Kolke, Publisher / MaxComm  Communications/Waterglass Press, units of PLANDflex Corporation, all rights reserved.


Our mailing address is: 6204B Burbank Road SE, Calgary, T2H 2C2, Canada

this site last updated May 6, 2025