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FACILITYCalgary May 6/25

ARCHIVED ISSUES

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SHAKERS AND MOVERS 
appointments and disappointments 

+ all directors of Iron Bridge Reourses Inc. have resigned; upon completion of combination, Velvet Energy Ltd. slate will take over

+ Adam Ali to Partner, Consulting Practice @ MNP LLP

+ Assistant Commissioner Curtis Zablocki to Commanding Officer, Alberta @ RCMP

+ Carrie Yuill to CFO @ Canadian Spirit Resources Inc.

+ Claude Séguin to Chari @ Fonds de solidarité FTQ

+ Dean Hill, CFO @ Canadian Spirit Resources Inc., resigned

+ Dean Hill to CEO @ Behr Integrated Solutions

+ Edward Monser to Director @ Canadian Pacific Railway

+ Francois Legault, CAQ Leader to Premier-Elect @ Government of Quebec

+ Gary Leach, Pres. @ The Explorers and Producers Association of Canada, retiring

+ George Burch to Director @ Petro-Victory Energy Corp.

+ James Peck to Director @ Sun Life Financial Inc.

+ John Ruffolo, Global Head of Private Equity, OMERS Ventures @ OMERS, leaving the organization …

+ Jos Schmitt to Director @ Investment Industry Regulatory Organization of Canada

+ Katia Saenko toSr. VP Data & Technology @ The Cadillac Fairview Corporation Limited

+ Louise Gallagher to Interim Exec. Dir. @ Inn from the Cold Society

+ Lucie Tedesco to Director @ Investment Industry Regulatory Organization of Canada

+ Marco De Iaco to Executive Director @ Calgary Downtown Association

+ Marion Burnyeat to Board of Governors @ Calgary Academy

+ Natalie Tooley to Regional Marketing Director, Calgary @ Iredale Architecture

+ Nicholas Hann to Head of Investments @ Canada Infrastructure Bank

+ Patti Stebbe to VP Cana ReNew @ Cana Construction

+ Peter Lineen to Director EHS & Corporate Strategy @ Quanta Services Inc.

+ Scott Deederly to Sr. Strategist, Intergovernmental & Corporate Strategy @ City of Calgary

+ Tom Whalen, Pres. & CEO @ Petroleum Services Association of Canada, resigned

+ Tristan Goodman to Pres. @ The Explorers and Producers Association of Canada

+ Ward Woolgar to Dir. of Operations @ RIverpark Properties

+ Wayne Brownlee, CFO @ Nutrien Ltd., retiring


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




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ indigenous underemployment persists

+ open source approach – Building a Talent Ecosystem

+ ROI – fostering a psychologically safe workplace




 KUDOS 

+ to Jay Hennick, CEO and Chairman @ Colliers International, chosen as winner of 2019 International Horatio Alger Award by Horatio Alger Association of Canada




 CALGARY OLYMPICS 2026 BID WATCH 


+ City Council is distracted by its inquisition to find who leaked the bus-barn/housing site documentation rather than moving forward proactively to support voters making a well informed decision on Nov. 13th

+ pro and con groups are holding meetings, getting ink in media – and polls are ‘all over the map’ in terms of whether we should or shouldn’t bid to host the Olympics; this writer thinks it is a ‘no-brainer’, we ought to bid and win. To not even try would be a cowardly civic embarrassment. Yes, we might over-spend and make some mistakes, but we will all be proud of the future legacy of pride and facilities we will provide for Calgary and Alberta – so, VOTE YES, please please please

+ Notley government announced it will provide full details of its funding support for the Olympic bid BEFORE the Nov. 13 plebiscite

+ the bid process

+ Feasibility Study and Conceptual Master Hosting Plan [365 page PDF download] – presented to Calgary City Council May 31, 2017




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+ AIMCo – Alberta Investment Management Corporation

+ ASC – Alberta Securities Commission

+ AUC – Alberta Utilities Commission

+ BBL – barrel

+ BBLS/D – barrels per day

+ BIM – Building Information Modeling

+ 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

+ EPC – engineering, procurement and construction

+ 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

+ FTC – U.S. Federal Trade Commission

+ GJ – gigajoule

+ GLA – gross leasable area

+ GOA - Government of Alberta

+ GOM – Gulf of Mexico

+ GTA – greater Toronto area

+ GW - gigawatt

+ 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

+ LPG – Liquefied Propane Gas

+ MCF – thousand cubic feet

+ MCF/D – thousand cubic feet per day

+ mezz – mezzanine debt

+ MOA – Memorandum of Agreement

+ 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

+ PSP – Public Sector Pension Investment Board

+ 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 …

+ TOD – transit oriented development

+ 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 October 2, 2018




 TODAY'S HEADLINES


HEADLINES: Cenovus rail deals | crude up again! | Encana asset sale | Husky bidding for MEG | LNG project $40.0 billion going ahead | Nexen moving + deals + rig counts + upcoming events, appointments + climate change + infrastructure + REIT NEWS + financings + Olympic bid progress




CONVERSATIONS

A recent conversation with Jenna Kaye, CEO @ Odyssey Trust

A recent conversation with Eric Friesen, Exec. VP @ Cool Green Solutions

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



 sponsors of this week's issue:

click to contact: Trevor Winkler, Regional Managing Partner, Calgary
 
ACCCOUNTING, CONSULTING, TAX



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



 
DATA CENTRE

e-mail: June.Read@DataHive.ca



e-mail Norm Landry
 
PROJECT MANAGEMENT



CONTACT MARK KOLKE 
RESIDENTIAL SALES



PUT YOUR 
COMPANY HERE
 Advertising/sponsorship queries:  kolke@facilitycalgary.com 
SEE YOUR 
BRAND HERE



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



e-mail Grant Robinson, Managing Director, Calgary
 
RISK & INSURANCE SOLUTIONS



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



e-mail to Katherine Robinson, Managing Director

e-mail to Kim Green, Sr. Associate, Interior Design
ARCHITECTURE + INTERIOR DESIGN



 SAVE THE DATE / upcoming events

+ Oct. 1-3; BOMEX2108-Calgary, Hyatt Regency, Calgary; register/schedule/information and tickets

+ Oct. 23; Calgary Real Estate Forum, Telus Convention Centre, Calgary; info/registration

+ Oct. 23; CAPPA Conference 2018, Telus Convention Centre, Calgary; agenda/register

+ Oct. 23-25; 2018 CanWEA Annual Conference and Exhibition, BMO Centre, Stampede Park, Calgary; info/registration

+ Oct. 24; Distinguished Policy Fellow Awards Dinner (honouring Nancy Southern and Thomas d’Aquino); Sheraton Eau Claire, Calgary; info/sponsorship/tickets

+ Oct. 30; 24th Annual Joint Conference – GPAC/PJVA; Calgary Petroleum Club, Calgary; info/registration

+ Nov. 2; LITGALA, New Central Library, East Village, Calgary; info/donate/tickets

+ Nov. 5 & 6; P3 2018 - Canadian Council for Public-Private Partnerships 26th Annual Conference & National Awards for Innovation and Excellence in P3; Sheraton Centre, Toronto; info/register

+ Nov. 7; Vera & Friends Variety Show/Fundraiser for Story Circle work in Southern Sudanese community. Bella Concert Hall, Mount Royal University, Calgary; info/tickets

+ Nov. 7-8; BUILDEXCalgary, BMO Centre, Stampede Park, Calgary; program/register

+ Nov. 13; Calgary 2026 Winter Olympic Bid Plebiscite – where/when to vote

+ Nov. 13; Calgary Youth Justice Society – 2nd Annual ‘Strong Not Wrong’ Fundraising Event, cSpace, old King Edward School, Calgary – info/tickets

+ Nov. 14-15; 2018 World Energy Council North America Region Energy Forum, Telus Convention Centre, Calgary; info/register

+ Nov. 28-29; Real Estate Forum, Metro Toronto Convention Centre, info/register

+ Dec. 9-10; 9th Annual Sustainable Innovation Forum 2018/COP24, Katowice, Poland; info/register

+ Apr. 3-5; Economic Developers Alberta, 3019 Annual Conference, Banff Centre, Banff; info/register


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



 QUOTES 

+ Sometimes you have to look back in order to understand the things that lie ahead. – Yvonne Woon

+ “Gratitude turns what we have into enough, and more. It turns denial into acceptance, chaos into order, confusion into clarity… it makes sense of our past, brings peace for today, and creates a vision for tomorrow.  ~ Melody Beattie




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NEWS SUMMARY 
 September 25 ~ October 2 


+ Black Swan Energy Ltd. agreed with AltaGas to acquire 50% of Aitken Creek Processing Facilities from Black Swan

+ Brookfield Infrastructure and partners closed the ‘regulated $2.5 billion portion’ of its $4.31 billion natural gas gathering and processing transaction with Enbridge Inc.

+ Cenovus Energy Inc. announced the signing of three-yr. contracts to CN (regarding its Bruderheim terminal) and CP (via USD Partners’ terminal in Hardisty) to transport 100,000 bbls/day of heavy crude destined for U.S. Gulf Coast destinations

+ current energy prices – live link to current Bloomberg energy prices / OilPrice.com; crude prices remain buoyant – WTI over US$75/bbl, Brent testing US$85/bbl ~ and futures are up in anticipation of US-Iran sanctions taking effect

+ Encana Oil & Gas (USA) Inc. agreed to sell its San Juan assets in New Mexico to DJR Energy LLC for US$480.0 million

+ Frontier Oil Sands Mine project hearings have begun – project by Teck Resources has a proposed capital cost of $20.6 billion, planning to produce 260,000 bbl/d

+ Husky Energy Inc. announced it is making an unsolicited takeover bid for MEG Energy Inc.; enterprise value to be $6.4 billion. … tic toc

+ LNG Canada’s partners [Royal Dutch Shell Plc, Malaysia’s Petroliam Nasional Bhd, Mitsubishi Corp., PetroChina Co. and Korea Gas Corp. ] announced investment decisions; going ahead with their $40.0 billion LNG export terminal facility planned for Kitimat, BC

+ MNP LLP merging with 4Plan Consulting

+ NAFTA talks: the Trudeau government has announced an agreement on ‘renovating NAFTA’ has been reached with the United States and Mexico, but so far details are sketchy – most observers expect concessions by Canada on dairy; agreement will be renamed: USMCA (United States-Mexico-Canada Agreement) – initial reactions in auto and dairy industries dominate media coverage but the fine-print hasn’t been read by or approved by three governments yet … tic toc

+ Nexen Inc. relocating its Calgary HQ office; subleasing space in The Bow from Cenovus

+ Quebec Election results: CAQ party won a majority government

+ rig counts; down 19 to 178 this week – click for full breakdown

+ Strategic Group announced commencement of its new project ‘ONE’; 37-storey project, 379 units, 331,000 sq. ft. in the Beltline at 1st St & 10th Ave SE

+ Thomson Reuters closed its US$17.0 billion sale of a 55% interest in its Financial & Risk business to CPPIB, GIC and Blackstone; unit is now known as Refinitiv

+ Trans Mountain Corp. CEO affirms plans are still a go on its expansion project under the new National Energy Board hearing schedule – expects construction to resume in 2019, completion by 2022

+ U.S. rig counts: up 1 to 1,054 this week – click for full breakdown

+ Velvet Energy Ltd. is completing its takeover/combination with Iron Bridge Resources Inc.




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Aecon closed $184.0 million convertible unsecured sub. debt financing

+ Automotive Properties REIT is on the market to raise $63.3 million in equity

+ Cargojet Inc. secured $400.0 million credit facility

+ PRO REIT closed $40.3 million equity financing

+ Royal Bank of Canada is on the market to raise $2.0 billion in bail-in (opposite of a bail-out) bond financing

+ Spark Power Group Inc. secured $90.0 million in credit facilities

+ Westcore Energy Ltd. closed $564,536.0 financing by a rights offering


*editor’s note: names companies involved in debt financing transactions we report in this section are ALWAYS the borrower …


 CONSTRUCTION NEWS + INNOVATION 

+ cool deal and cool technology in elevators; Thyssenkrupp signed a US$130.0 million contracted to the Oxford led 18.0 million sq. ft. Hudson Yards multi-building project that Oxford et al are building in Manhattan – TWIN elevator system ~ imagine multiple cars in a single shaft!




 this week in REITS 


+ AutoCanada Inc. sold two dealerships [BMW Laval and Sherwood Park Volkswagen] to Automotive Properties REIT for $55.5 million; both are sale/leaseback transactions

+ Automotive Properties REIT is on the market to raise $63.3 million in equity

+ PRO REIT closed $40.3 million equity financing

+ Summit Industrial Income REIT agreed to acquire 262,610 sq. ft. logistics facility in Mississauga, ON for $33.5 million

+ True North Commercial REIT closed its $6.3 million acquisition of 40,000 sq. ft. office property in Ottawa




 INFRASTRUCTURE / P3  


+ Aecon Group Inc. led consortium achieved financial close on its Gordie Howe International Bridge project; bridge is being built on a fixed-price contract basis, $5.7 billion; design-build, 30-yr. maintenance and rehabilitation phases – on behalf of Windsor-Detroit Bridge Authority

+ B.C. Ministry of Health approved construction of a six-storey acute care facility for Lions Gate Hospital in North Vancouver – to be called the Paul Myers Tower, capital cost $166.0 million

+ Hydro One Inc. filed a new application to acquire Orillia Power Distribution Corp.

+ Inter Pipeline Ltd. agreed to sell the Heartland Petrochemical Complex’s Central Utility Block (102MW natural gas powered co-generation facility) to Fengate Capital Management who will complete the project and fund ongoing capital commitments

+ Nicholas Hann to Head of Investments @ Canada Infrastructure Bank

+ Outland-Carillion changed its name to Dexterra




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ GWL Realty Advisors announced a monster lease deal for HOOOPP in the Delta iPort project on Tsawwassen leased First Nation land; 450,000 sq. ft. fulfillment facility for Amazon

+ Stantec Tower opened in Edmonton; Stantec is lead tenant in the 69-storey building. The project is a JV of Stantec and ICE District properties – tallest building west of Toronto …




 INTERESTING THINGS IN RETAIL 


+ ALDO Group recognized as first fashion footwear company in the world to be certified climate neutral

+ Slate Canadian Real Estate Opportunity Fund 1, announced $60.0 million renovation plans for its recently acquired 620,000 sq. ft. Scotia Centre (now to be Stephen Avenue Place) and will partner with Bonacini Hospitality and Concorde Enertainment Group to remake the retail components of the property including plans for a roof-top restaurant




 INTERESTING THINGS IN OFFICE 


+ Oxford Properties (50/50 JV with CPPIB) launched plans for a new 36-storey building in Vancouver; ‘The Stack’ will be the tallest commercial building in Vancouver; LEED Platinum 540,000 sq. ft. tower




 SHAREHOLDER MEETINGS

+ Oct. 5; Enbridge Income Fund Holdings Inc., Special Meeting of Shareholders, Calgary

+ Oct. 11; Canada Development Investment Corporation, Annual Public Meeting, Calgary

+ Nov. 6; Iron Bridge Resources Inc., Special Meeting of Shareholders, Calgary

+ Nov. 15; Petro-Victory Energy Corp., Annual General Meeting, Calgary


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



 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ ALDO Group recognized as first fashion footwear company in the world to be certified climate neutral


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this site last updated May 6, 2025