FACILITYCalgary

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

+ Barbara Munroe to Exec. VP Corporate Services & General Counsel @ WestJet Airlines Ltd.

+ Brat Thompson, Pres. & CEO @ Oncolytics Biotech Inc. stepped down

+ Dave Filipchuk to Pres. & CEO @ PCL Group of Companies

+ Duncan Osborne to Exec. VP Investments @ The Cadillac Fairview Corporation Limited

+ Greg Shannon to Partner @ Gowlings

+ James Henderson to Chief Sales and Marketing Officers @ Avigilon Corporation

+ Jennifer Brusse to General Counsel @ Valard Construction LP

+ John Jeffrey to CEO @ Saturn Oil + Gas Inc.

+ Justin Kaufmann to VP Exploration @ Saturn Oil + Gas Inc.

+ Ken Adair, Pres. & CEO @ Petrus Resources Ltd., resigned

+ Lan Tan to Director, Entrepreneur Development @ TEC Edmonton

+ Mark Prefrontaine to Sr. VP Client Relations @ AIMCo

+ Matt Coffey to Interim Pres. & CEO @ Oncolytics Biotech Inc.

+ Millan Mulraine to Chief Economist @ Ontario Teachers’ Pension Plan

+ Neil Korchinski to Pres. & CEO @ Petrus Resources Ltd.

+ Rowan Saunders to Pres. & CEO @ Economical Insurance

+ Sal Iacono to Exec. VP Operations @ The Cadillac Fairview Corporation Limited

+ Scott Newman to COO @ Saturn Oil + Gas Inc.

+ Thomas Achtymichuk to Judge, Edmonton @ Provincial Court of Alberta


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




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ no laptop, no phone, no desk? … UBS’s take on re-inventing the work space, coming soon to a head-office near you …

+ retention tension: are your employees headed for the door? … Robert Half published their report on turnover – check out the slideshow

+ Randstad Holdings nv closed its US$429.0 million acquisition of Monster Worldwide Inc.




BOARDROOM changes, purges, appointments etc.

+ Catherine Hughes to Director @ SNC-Lavalin

+ David Neuhauser to Director @ BNK Petroleum Inc.

+ Ken Adair, Director @ Petrus Resources Ltd., resigned

+ Paul Douglas to Chairman @ PCL Group of Companies

+ Roger Braugh Jr. to Director @ Tanager Energy Inc.

+ William Murray to Director @ eQube Gaming Limited


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




 QUOTES

+ America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves. – Abraham Lincoln

+ In any moment of decisions, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing. – Theodore Roosevelt




 SHAREHOLDER MEETINGS

+ Nov. 15; Alberta Oilsands Inc., Annual Meeting of Shareholders, Calgary

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

+ 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




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current week data

this  site is refreshed with a new issue every Tuesday morning


updated Nov. 8, 2016




 TODAY'S HEADLINES


HEADLINES: Agrium takeover is a go | Ainsworth buying Airtron | Anderon is now InPlay | Bellatrix sells assets | CRNL restarting Kirby North | crude down | Tamarack mergers | TransCanada sold power assets + Michael Kehoe 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 Michael Kehoe of Fairfield Commercial Real Estate

Last week's conversation with Melody Wisoley or InTandem HR Consulting Ltd.

A recent conversation with Corrine Jackman, Vice President @ Hopewell Real Estate Services

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



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 sponsors of this week's issue:

e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



CONTACT PIVOTAL
 
PROJECT MANAGEMENT



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



CONTACT DAWSCO
 
COFFEE SERVICES



e-mail to Sharon Martens
 
INTERIOR DESIGN



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COMPANY HERE
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CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



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RESIDENTIAL SALES



 SAVE THE DATE / upcoming events

+ Nov. 9; Canadian Pensions & Benefits Institute - Calculating the ROI of Disability Management Programs; Fairmont Palliser, Calgary; info/register

+ Nov. 9-10; BUILDEX Calgary, BMO Centre, Stampede Park, Calgary; info/register/sponsor

+ Nov. 14-15; Platts 20th Annual Mexican Energy Conference, Mexico City; info/register

+ Nov. 26; Creating the new Alberta - Perry Kinkaide's BIG IDEA Convention, Red Deer College, Red Deer; info/registration

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

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

+ 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

+ 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 ]



INTERESTING REAL ESTATE NEWS, other places


+ can a property tax assessment you are appealing result in an increase in your assessment? Apparently so, as a case in Edmonton went to the Supreme Court of Canada which found the City of Edmonton COULD increase the assessment on the Capilano shopping centre. The issue hinged on ‘reasonableness’ v. ‘correctness’ … the case ruling makes an interesting read. Appellants beware … tic toc




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NEWS SUMMARY 
 Nov. 1 ~  8 


+ Agrium Inc.’s takeover bid for PotashCorp moving ahead; Potash Corporation of Saskatchewan shareholders gave overwhelming approval

+ Ainsworth Inc. agreed to acquire Direct Energy Business Services Limited, dba Airtron Canada

+ Anderson Energy Inc. and InPlay Oil Corp. completed their combination; will continue as InPlay Oil Corp.

+ Bellatrix Exploration Ltd. closed $47 million sale of a non-core Pembina asset

+ Black Diamond Group Limited acquired MPA Systems LLC (Texax modular building firm) for US$3.1 million

+ Calgary unemployment rates hit 10.2%, highest in 23 years

+ Canadian Natural Resources Ltd. is resuming construction of its $1.3 billion Kirby North oilsands project

+ current energy prices – live link to current Bloomberg energy prices; crude prices slumped to US$45/bbl range down on speculation OPEC production cutback plan failing AND EIA reports showing a build-up in inventories – without expectation of any change/trend based on outcome of U.S. election

+ GOA consolidated four entities into one; the act was proclaimed establishing Alberta Innovates Corporation and under direction of one board

+ Dominion Diamond Corp. relocating to Calgary from Yellowknife; 100 employees involved … every little bit helps!

+ Petrocapita Income Trust acquired Smartworks Oilfield Maintenance Ltd.

+ rig counts – international rig count for October was 920, down from 934 in September, down 191 from October 2015

+ Saturn Minerals Inc. is changing its name to Saturn Oil + Gas Inc.

+ Tamarack Valley Energy Ltd. and Spur Resources Ltd. agreed to a combination agreement; stock and cash transaction – to continue as Tamarack Valley Energy Ltd.

+ TransCanada Corporation selling two U.S. power assets for US$2.2 billion and US$1.07 billion

+ U.S. Presidential Election watch: today is election day in the United States, most polls show Clinton ahead and the likely winner, pundit opinions vary widely from ‘blowout’ to ‘squeaker’ and Clinton and Trump work hard to win the swing states … tic toc; stock markets responding positively on expectation Clinton will win; the issue that is most uncertain is who will control the Senate …

+ U.S. Presidential – when it is over, what then? The U of C School of Public Policy are holding a de-brief: The Day After the Big Election - An Analysis of 2016 US Election Results and What they Mean for Canada at Arts Commons @ 4:30 PM, November 9th  




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Africa Energy Corp. is on the market to raise $15.0 million in equity by private placement

+ Blackbird Energy Inc. closed $5.1 million flow-through common share issue by private placement

+ Cordy Oilfield Services Inc. is on the market to raise $1.0 million in equity

+ H&R REIT closed $200.0 million sr. unsecured debt financing

+ Luxor Industrial Corporation is on the market to raise $5.0 million in equity by private placement

+ Mosaic Capital Corporation is on the market to raise $17.25 million in convertible sr. unsecured debt

+ Precision Drilling Corporation closed US$350 million sr. unsecured debt financing by private placement

+ Rogers Communications Inc. is on the market to raise US$500 million in sr. unsecured debt

+ Temple Hotels Inc. is on the market to raise $50.0 million by a rights offering

+ TransCanada Corp. closed $3.2 billion equity financing

+ Valeura Energy Inc. closed $11.0 million equity financing

+ Veresen Inc. is on the market to raise $350 million in sr. unsecured debt

+ 407 International Inc. closed $350 million unsecured debt financing




 CLIMATE CHANGE / LEED / RENEWABLE ENERGY  

+ GOA’s Renewable Energy Program: ‘yikes, what does this mean?’ – the folks at Dentons published a great one—pager that gives a great overview of its impact

+ GOA announced its plans on legislating a process to acquire the first 400MW of 5,000MW they project will be required to meet a target of 30% of Alberta’s electricity demand be ‘renewable’ by 2030; in short, they are planning on LOTS OF WIND power which might look good on paper, but not so good on the Alberta landscape – the Notley government are forgetting that Alberta is a beautiful place and we generally don’t have a tolerance for adding wind-farms to such a large degree because some of our windiest places are our prettiest places; not just about tourism damage, which it is, but about quality of life we all own. This is likely easy for the NDP government to pass, but it’s a far stretch to see it happening quite this way. And, not to rant too much, BUT, this program is touted as an investment in job creation. Why not create jobs in making coal cleaner – so we don’t have to send many fortunes taking coal-fired plants out of service decades before they wear out at incredible taxpayer costs?

+ Trudeau government announced the Government of Canada will reduce its own emissions; target is 40% by 2030. Also, they announced this week a plan to use 100% renewable energy in federal buildings by 2015 …




 NEW TECH + TOOLS TO WATCH 

+ Gmail 5.0.3 – a new App; has an ‘Undo Send’ function

+ LinkedIn Salary – discover your worth

+ Uber launched a new App too




 this week in REITS 


+ American Hotel Income Properties REIT LP closed its acquisition of a US$8.7 million property in Nashville, TN

+ Firm Capital Property Trust closed its $4.7 million acquisition of a retail property in Moncton, NB

+ H&R REIT closed $200.0 million sr. unsecured debt financing

+ Mainstreet Health Investments Inc. internalized its management

+ Pure Industrial Real Estate Trust closed its $171.1 million acquisition of eight Alberta industrial properties from Artis REIT

+ Pure Multi-Family REIT LPT closed its US$34.3 million acquisition of 180 unit project in Plano, TX

+ True North Commercial REIT agreed to acquire three properties (Toronto, Waterloo and Calgary) for $66.9 million

+ WPT Industrial REIT closed its US$13.9 million acquisition of 226,800 sq. ft. distribution facility in Columbus, OH




 INFRASTRUCTURE / P3  


+ Infrastructure Ontario issued RFP to prequalified teams: to design, build, finance and maintain the new Toronto courthouse project; ElisDon Infrastructure and Plenary Justice

+ Trudeau government is proposing an ‘infrastructure bank’ to fund projects in Canada it doesn’t have the funds for … tic toc




 CONSTRUCTION NEWS + INNOVATION 


+ Calgary Municipal Building structural problem persists; 345 staff are out of their space while engineering firms explore solutions for a failing structural truss that carries the load of five floors of the building … tic toc




 OIL SANDS + HEAVY OIL NEWS

+ Canadian Natural Resources Ltd. is resuming construction of its $1.3 billion Kirby North oilsands project

+ GOA introduced the Oil Sands Emissions Limit Act; will include a $30/tonne carbon tax – will take effect when passed in the legislature but oil sands producers will not be obligated until a regulatory system is designed and implemented … tic toc

+ oilsands miners are tabling plans with AER for tailing pond cleanup strategies in response to AER’s directive; rules are tighter, as they should be …




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this site last updated May 6, 2025