FACILITYCalgary

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

FACILITYCalgary May 6/25

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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 Mark Iantkow PhD, operator of Libertus Adult Education

Last week's conversation with Ross Glen, Pres. @ RGO Office Products

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



SHAKERS AND MOVERS 
moving, retired, resigned, died or got the boot

+ Christina Kobi to Partner @ McLean & Kerr llp

+ David Glendinning, Pres. Teekay Gas Services @ Teekay Corporation, retiring

+ Greg Pollard, CFO @ Connacher Oil and Gas Limited, retiring

+ Jason Tuffs to CEO @ MNP LLP

+ Mark Kremin to Pres. Teekay Gas Services @ Teekay Corporation

+ Roger Chaffin to Chief @ Calgary Police Services

+ Zadie Smith to Distinguished Visiting Writer @ University of Calgary


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




BOARDROOM changes, purges, appointments etc.

+ Dale Tremblay to Director @ Cathedral Energy Services Ltd.

+ Diana McQueen to Director @ MEG Energy Corp.

+ Donald Benson to Director @ Robix Alternative Fuels Inc.

+ Vivian Lau to Director @ GINSMS Inc.

+ Wanda Cutler to Director @ Robix Alternative Fuels Inc.




 SAVE THE DATE / upcoming events

+ Oct. 19; Election Day across Canada

+ Oct. 22; 2015 Small Business Week Calgary Expo and Awards, TELUS Spark; info/tickets

+ Oct. 27; Calgary Real Estate Forum, TELUS Convention Centre, Calgary; info/register

+ Oct. 27 – 30; 28th Annual Gastech Conference & Exhibition, Singapore info/registration

+ Oct. 27; Alberta Government – Provincial Budget to be tabled in the Legislature

+ Oct. 29; 2015 Economic Developers Alberta - Ministry Dinner, Matrix Hotel, Edmonton, info/register

+ Oct. 29-30; IEDC Workforce Development Strategies, Matrix Hotel, Edmonton; info/register

+ Nov. 2-3; 23rd Annual Canadian Council for Public-Private Partnerships Conference, Sheraton Centre, Toronto; info/register

+ Nov. 22-25; Bioindustrial Innovations: unlocking value and tackling climate change, Shaw Conference Centre, Edmonton info/register

+ Nov. 25-26; Business Transitions Forum, Vancouver; info/register

+ Dec. 1; Global Property Market, Metro Toronto Convention Centre; info/register

+ Dec. 2-3; Real Estate Forum, Metro Toronto Convention Centre; info/register

+ Dec. 4; OPEC’s 168th Ordinary Meeting, Vienna, Austria info

+ Jan. 13-15/16; EPC Contract and Risk Management Conference, Houston; info/register

+ Feb. 26/16; BUILDEX Vancouver, Vancouver Convention Center, Vancouver

+ Mar. 15-16/16; Canadian School of Hydrocarbon Measurement, Telus Convention Centre, Calgary info ; registration

+ Mar. 30 - Apr. 1/16; Congress 2016; National Privacy & Data Governance Congress, Carriage House, Calgary; info

+ Oct. 4-5/2016; CanWeld 2016, Edmonton Northlands, Edmonton


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



 OIL SANDS NEWS 

+ Canadian Oil Sands Limited rejected Suncor Energy’s $6.6 billion hostile takeover bid; they’ve adopted (pending TSX approval) shareholder rights plan

+ North West Updgrading Inc. says its Redwater area refinery is on track with its budget; $5 billion invested so far, final costs still on target to be $8.5 billion




 KUDOS 

+ well, actually it’s just something funny – made me laugh: Bennett Jones ran an advertisement in the Globe & Mail last week. The caption was BOOTS ON THE GROUND. I saw basketball shoes, high heeled women’s fashion boots and lawyerly oxfords. But no cowboy boots. I guess Bennett Jones are truly a Toronto firm now …




  GLOSSARY 

+ AER - Alberta Energy Regulator

+BBL – barrel

+ BBLS/D – barrels per day

+ BOE – barrel of oil equivalent

+ CAPP - Canadian Association of Petroleum Producers

+ CBD – Central Business District

+ COSIA - Canada's Oil Sands Innovation Alliance

+ CREB - Calgary Real Estate Board

+ FERC – U.S. Federal Energy Regulation Commission

+ GJ - gigajoule

+ GOA - Government of Alberta

+ GTA – greater Toronto area

+ IPO – Initial Public Offering

+ JV – Joint Venture

+ KW – kilowatt (one thousand watts)

+ LEED – Leadership in Energy and Environmental Design

+ MCF – thousand cubic feet

+ MCF/D – thousand cubic feet per day

+ MOU – Memorandum of Understanding

+ MW – megawatt (1 million watts)

+ NEB – National Energy Board

+ NGLs – natural gas liquids

+ P3 – Public Private Partnership

+ REIT – Real Estate Investment Trust

+ RFP – request for proposals

+ RFQ – request for qualifications

+ SAGD – steam assisted gravity drainage

+ sub – subsidiary

+ sub. – subordinated

+ tic toc – we’ll see …

+ WTI – West Texas Intermediate




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FACILITYCalgary
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this  site is refreshed with a new issue every Tuesday morning


updated ... October 13, 2015




 TODAY'S HEADLINES


Bank of Canada reports | Brookfield spinoff | Encana sells DJ prize holding | Imperial/Husky JV | North West Upgrading on-budget | ORLEN Upstream buying Kicking Horse | Pengrowth sold bod property |Suncor rebuffed | TransCanada & Brookfield buying power plants | Veresen gas plant go-ahead + Dr. Mark Iantkow interview | upcoming events & corp. meetings + climate change & infrastructure news + REIT news +  this week’s financings + executive and board appointments >>>>




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 INFRASTRUCTURE / P3  


+ BC Hydro signed a contract with ATCO Two Rivers Lodging Group for design, construction, partial financing, operation and maintenance of worker accommodation at the SiteC dam site; 8-yr. contract is valued at $470 million

+ City of Vancouver announced it will spend $200 million to demolish Georgia and Dunsmuir downtown viaducts; questions about traffic re-routing remain unanswered …

+ Government of Alberta has called on the Auditor General to report on delays in capital deployment and school construction projects which are delayed beyond earlier announced opening dates … tic toc …

+ TransCanada Corporation agreed to acquire the 778 MW Ironwood gas-fired power plant in Lebanon, Pennsylvania from Talen Energy Corporation for US$654 million




 QUOTES

+ If the present Congress errs in too much talking, how can it be otherwise in a body to which the people send one hundred and fifty lawyers, whose trade it is to question everything, yield nothing, and talk by the hour? – Thomas Jefferson

+ It is one of the blessings of old friends that you can afford to be stupid with them. – Ralph Waldo Emerson




 SHAREHOLDER MEETINGS

+ Oct. 14; Canadian Development Investment Corporation, Annual Public Meeting, Calgary

+ Nov. 12; Candax Energy Inc., Special Meeting of Shareholders, Toronto

+ Jan 13/16; Groundstar Resources Limited, Calgary


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



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NEWS SUMMARY 
 October 6 - 13 


+ ATB Owl Report – daily economist’s outlook

+ Bank of Canada released Autumn Issues of its Business Outlook Survey and Senior Loan Officer Survey

+ Black Swan Energy engaged advisors to sell assets

+ Brookfield Asset Management Inc. is creating a new entity; Brookfield Business Partners to own and operate Brookfield’s Business Services and Industrial Operations

+ Brookfield Renewable Energy Partners LP agreed to acquire a portfolio of hydroelectric projects (292MW) in Pennsylvania from Talen Energy for US$860 million

+ Canadian Oil Sands Limited rejected Suncor Energy’s $6.6 billion hostile takeover bid; they’ve adopted (pending TSX approval) shareholder rights plan

+ Clough Limited acquired Enercore Projects Limited for $10 million; will be re-branded as Clough Enercore

+ ConocoPhillips reported to be on the verge of announcing sale of numerous Western Canadian assets

+ current energy prices – live link to Bloomberg energy prices ; oil testing US$50/bbl, natural gas up as chilly weather pushed demand …

+ Encana Corporation agreed to sell its DJ (Denver Julesburg) Basin assets for US$900 million to a new entity – Canada Pension Plan Investment Board (95%) and The Broe Group (5%)

+ Imperial Oil and Husky Energy agreed to combine/cooperate with truck fuel facilities; Husky will manage the combined network of 160 Esso-branded facilities – Husky will convert its commercial cardlocks, co-located Travel Centres and some of its retail service stations to the Esso brand

+ Killam Properties Inc. is planning conversion to a REIT structures; will be called Killam Apartment REIT

+ Magnum Hunter Resources Corporation engaged advisors to explore strategic alternatives

+ North West Upgrading Inc. says its Redwater area refinery is on track with its budget; $5 billion invested so far, final costs still on target to be $8.5 billion’

+ Offsetters Climate Solutions Inc. is changing its name to NatureBank Asset Management Inc. and will operate as NatureBank

+ ORLEN Upstream Canada Ltd. agreed to acquired Kicking Horse Energy Inc. for $356 million

+ Pengrowth Energy Corporation agreed to sell its non-core Bodo property for $95 million

+ Premier Notley made her first big speech in Calgary; Chamber of Commerce event at BMO Centre was attended by 1,600. Nothing much new from the lectern, assurance of ‘no sales tax’ got spontaneous applause – otherwise, ‘wait till the budget for more news’ was the message du jour. Kudos to CS food services for fantastic chicken. Kudos to my friends for a great time at our table.

+ SMART Technologies Inc., based on its weaker 2016 outlook, announced it intends to embark on a strategic review … tic toc …

+ TransCanada Corporation launched a Binding Open Season for its Cushing Marketlink line

+ TransCanada Corporation agreed to acquire the 778 MW Ironwood gas-fired power plant in Lebanon, Pennsylvania from Talen Energy Corporation for US$654 million

+ Veresen Inc. announced its Cutbank Ridge Partnership will go forward with its $860 million Sunrise Gas Plant near Dawson Creek, BC to service Montney region production

+ yesterday was Thanksgiving holiday in Canada, Columbus Day holiday in U.S.; markets closed




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Canadian Apartment Properties REIT closed $250.3 million equity financing

+ Cardinal Energy Ltd. closed $105 million equity raise

+ Enbridge Energy Partners LT closed US$1.6 billion sr. unsecured debt financing

+ Hydro One Limited is on the market to raise $800 million in a privatization IPO

+ Ithaca Energy Inc. closed US$66 million equity raise

+ National Bank of Canada closed $300,004,000 common share issue

+ Northern Spirit Resources Inc. closed $340,000 rights offering

+ NorthWest Healthcare Properties REIT closed $50 million convertible debt financing

+ Perisson Petroleum Corporation is on the market to raise $200,000 in equity

+ Renaissance Oil Corp. closed first $6.1 million tranche of its common share & warrants issue

+ Superior Plus Corp. is on   the market to raise $144 million in equity

+ Wild Wind Petroleum Inc. closed $123 million equity financing




 CLIMATE CHANGE / LEED / RENEWABLE ENERGY  

+ Offsetters Climate Solutions Inc. is changing its name to NatureBank Asset Management Inc. and will operate as NatureBank

+ Recycle-Logic opened another location; electronics recycling drop off location at the Market on Macleod (the old McKay Pontiac property) so you can dispose of unwanted gear; they ask for a Food Bank donation …

+ Ecohome's Edelweiss House project (passively heated, cold climate demonstration home) in Wakefield, Quebec is first project in Canada to earn LEED v4 certification, highest level possible – Platinum – making it only the second LEED v4 home in the world 




INTERESTING REAL ESTATE NEWS, other places


+ Blackstone Group agreed to acquire BioMed Realty Trust Inc.

+ Chicago Tribune Tower is For Sale; 36 storey 90-yr old Gothic Rivival landmark tower on Michigan Avenue is on the market for sale or partnership …

+ Ivanhoé Cambridge and partner Residential Land acquired Hamlet Gardens and 4B Merchant Square in London, UK for approximately £160 million; Hamlet Gardens, 4 buildings/122 residential units, 4B Merchant Square/60 residential units




 this week in REITS 


+ Blackstone Group agreed to acquire BioMed Realty Trust Inc.

+ Canadian Apartment Properties REIT closed $250.3 million equity financing

+ Killam Properties Inc. is planning conversion to a REIT structures; will be called Killam Apartment REIT + NorthWest Healthcare Properties REIT closed $50 million convertible debt financing




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this site last updated May 6, 2025