FACILITYCalgary

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

FACILITYCalgary June28/22

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

+ Andrew Duncan to Sr. VP Developments @ RIOCAN REIT

+ Bill Hahn to Acting VP Finance & CFO @ Perpetual Energy Inc.

+ Dave Roberts, Pres. & CEO @ Penn West Petroleum Ltd., leaving the company

+ David Bloom, former Pres, CEO & Chairman @ Shoppers Drug Mart, died

+ David French to Pres. & CEO @ Penn West Petroleum Ltd.

+ Denise Yanyk to Facilities Coordinator @ Crescent Point Energy

+ Emily Chew to Global Head, Environmental, Social and Corporate Governance @ Manulife Asset Management

+ Gaelen Morphet to Chief Investment Officer @ Sentry Investments

+ Ivan Ladouceur to Judge, Edmonton Region @ Provincial Court of Alberta

+ Jeff Kehoe to Enforcement Director @ Ontario Securities Commission

+ Jim Rivait to CEO @ Alberta Roadbuilders & Heavy Construction Association

+ Josh Wylie to VP Land @ Blackbird Energy Inc.

+ Karla Guyn to CEO @ Ducks Unlimited Canada

+ Kevin Morrissey to Sr. VP & Chief Actuary @ Sun Life Financial Inc.

+ Mark Fitzgerald to Pres. & CEO @ Progress Energy Canada Ltd.

+ Martin Thompson to Pres. & CEO @ Royal & SunAlliance Canada

+ Michael Culbert, Pres. & CEO @ Progress Energy Canada Ltd., retiring

+ Michael Nisker, Pres. & CEO @ Trez Capital MIC & Trez Capital Senior MIC, stepped down

+ Qi Tang to Sr. VP Finance @ RIOCAN REIT

+ Roslyn McMann to Director, Market Development @ BluEarth Renewables Inc.

+ Sand Manson to Pres. & CEO @ Trez Capital MIC & Trez Capital Senior MIC

+ Sean Harris to Sr. VP, Industry @ Aecon Group Inc.

+ Sean McLean to Partner, Calgary @ Heidrick & Struggles

+ Tony Ciciretto to Pres. & CEO @ TeraGo Inc.


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






BOARDROOM changes, purges, appointments etc.

+ Anne Marie O’Donovan to Director @ The Cadillac Fairview Corporation Limited

+ Bruce Guerriero to Director @ Reitmans (Canada) Limited

+ Cameron Berry, Director @ Dundee Energy Limited, resigned

+ David French to Director @ Penn West Petroleum Ltd.

+ Greg Vorwaller to Director @ Trez Capital MIC & Trez Capital Senior MIC


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




 SHAREHOLDER MEETINGS

+ Oct. 5; Whistler Blackcomb Holdings Inc., Shareholder Meeting To Approve Arrangement, Vancouver

+ Oct. 14; Marquee Energy Ltd., Special Meeting of Shareholders, Calgary

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

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


[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

+ GJ – gigajoule

+ GLA – gross leasable area

+ GOA - Government of Alberta

+ GOM – Gulf of Mexico

+ GTA – greater Toronto area

+ G&A – general and administrative

+ 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

+ RFP – request for proposals

+ RFQ – request for qualifications

+ RICS – Royal Institution of Chartered Surveyors

+ RNG – renewal natural gas

+ SAGD – steam assisted gravity drainage

+ 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 – Calgary International Airport




 SUGGESTIONS / COMMENTS:
 
feedback@facilitycalgary.com

FACILITYCalgary
current week data

this  site is refreshed with a new issue every Tuesday morning


updated Oct. 4, 2016




 TODAY'S HEADLINES


Bankers Petroleum sold | Bass Pro buying Cabella | BluEra sold to DHR | carbon tax plan by Ottawa angers many | Chemtrade bidding for Canexus | DirectCash Payments sold | Enbridge $1.05 billion asset sale | GMP closed FirstEnergy acquisition | Pacific NorthWest LNG $36 billion project approved + Bradley Ball 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 Bradley Ball, High Performance Printing Coach & Coordinator @ ready.set.go Printing Services

Last week's conversation with Pamela Hilton, Pres., Southern Alberta Pioneers and Their Descendants, rancher and retired travel industry entrepreneur 

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



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 KUDOS 

+ to everyone who ‘Ran For The Cure’; 97,040 people in 63 communities raised $17 million for the Canadian Breast Cancer Foundation – sponsored by CIBC




 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



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







 SAVE THE DATE / upcoming events

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

+ Oct. 9-13; 23rd World Energy Congress, Istanbul, Turkey; info/register

+ Oct. 13; EY Prairies Entrepreneur Of The Year Gala, Calgary; register/tickets

+ Oct. 17-19; QUEST2016 Conference and Trade Show, Westin Hotel, Calgary; info/register

+ Nov. 1-2; PetroChem Canada 2016, Shaw Conference Centre, Edmonton; 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. 29 - Dec. 1;  Real Estate Forum & Global Property Market, Metro Toronto Convention Centre; info/register

2017

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



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NEWS SUMMARY 
 Sept. 27 ~ Oct. 4 


+ Bankers Petroleum Ltd. completed its arrangement transaction; Geo-Jade Petroleum Corporation acquired 100% of Bankers

+ Bass Pro Shops agreed to acquire Cabela’s for US$5.5 billion

+ Black Diamond Group Limited acquired Vancouver based Shelter Modular Inc. for $1.3 million

+ BluEra was acquired by DHR International; Bryan Arthur will continue to manage Calgary operations, most staff are staying on

+ Chemtrade Logistics Income Fund announced it is making a takeover bid to acquire Canexus Corporation; enterprise value of Canexus is $884 million …

+ current energy prices – live link to current Bloomberg energy prices; prices up-ticking on OPEC announced tentative output agreement -  details are sketchy but the possibility of a sustained curbing of shipments has encouraged trading upwards but Algeria and others are questionable, and Saudi v. Iran tensions are historic … tic toc

+ Cardtronics plc agreed to acquire Direct Cash Payments Inc.

+ Deutche Bank troubles rippling financial waters; US$12.0 billion in fines levied but U.S. Department of Justice for mortgage-backed securities infractions

+ DirectCash Payments Inc. agreed to acquire Australian ATM assets of First Data Corporation for $55 million

+ Enbridge Inc. and Enbridge Income Fund Holdings Inc. agreed to sell its liquids pipelines assets in the South Prairie Region to Tundra Energy Marketing Limited for $1.075 billion

+ GMP Capital Inc. closed its acquisition of FirstEnergy Capital; will operate as GMP FirstEnergy

+ Heidrick & Struggles opened an office in Calgary

+ Laurentian Bank of Canada finalized its acquisition of CIT Group Inc.; $1.0 billion portfolio

+ Lightstream Resources Ltd. sought and received court ordered creditor protection under CCAA

+ Manitok Energy Inc. agreed to acquire a portfolio of west Central and Southern Alberta oil & natural gas assets for $13.5 million

+ Pacific NorthWest LNG Ltd. export terminal project got Federal government approval (subject to 190 science driven conditions); $36 billion project

+ Painted Pony Petroleum Ltd. closed its Montney acreage asset swap

+ Performance Energy Services Inc. acquired CASA Energy Services Inc. in an all-stock transaction; terms not disclosed

+ Perpetual Energy Inc. sold its eastern Alberta shallow gas properties; terms not disclosed

+ Petronas is denying reports it is looking to sell its proposed LNG terminal now that the project has achieved Federal government approval; the $36 billion project is for an export terminal on Lelu Island near Prince Rupert, BC

+ Shell Mistream Partners LP agreed to acquire US$350 million in GOM assets from Royal Dutch Shell plc

+ Sinoenergy Corporation Ltd. announced it will invest $500 million in its Long Run Exploration Ltd. holding over the next two years

+ Trudeau government announced its ‘proposed carbon pricing’ process; provincial governments are generally ‘opposed’; Alberta, Saskatchewan, Nova Scotia and Newfoundland – each claiming it is too much, too soon and too unfair …. meanwhile other provinces are kowtowing as expected; Mr. Trudeau seems to be forgetting his relationships with the west which he’s been doing quite well, ... until now




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Blackbird Energy Inc. secured $1.0 million revolving credit facility

+ Fortis Inc. is on the market to raise US$2.0 billion in debt

+ Gunvor USA LLC secured US$500 million credit facility

+ Manitok Energy Inc. is on the market to raise $20.0 million debt & common share warrants issue

+ Teine Energy Ltd. secured $475 million credit facility




 this week in REITS 


+ American Hotel Income Properties REIT agreed to acquire 4 flagged select-service hotels (Florida and Tennessee) for US$47 million

+ Andrew Duncan to Sr. VP Developments @ RIOCAN REIT

+ ARTIS REIT is on the market to sell off $300 million in Alberta assets

+ CAP REIT closed its $22.5 million acquisition of 87-unit townhouse project in London, ON

+ CAP REIT closed $31.4 million sale of 412-unit

+ ELAD Genesis Limited agreed to acquire 13.4% of Agellan Commercial REIT from NAREP II Canadian REIT Holdings LP for $36,764,567

+ PIRET Industrial REIT agreed to acquire a portfolio of Alberta properties for $171.1 million, and a US$81.0 million acquisition of SW U.S. properties …

+ Qi Tang to Sr. VP Finance @ RIOCAN REIT




 QUOTES

+ Finishing second in the Olympics gets you silver. Finishing second in politics gets you oblivion. – Richard Nixon

+ People never lie so much as after a hunt, during a war or before an election. – Otto von Bismarck




 INFRASTRUCTURE / P3  


+ Edmonton’s ring road – Anthony Henday Drive, is now complete; the final section opened on October 1st; the final NE leg was a $1.81 billion project; take a virtual drive!




 CLIMATE CHANGE / LEED / RENEWABLE ENERGY  

+ DIRTT Environmental Solutions opened a showroom in England – London, UK location will showcase the company’s Calgary-originated expertise for European and Middle East customers




INTERESTING REAL ESTATE NEWS, other places


+ Anthem Properties completed at $26 million redevelopment of Centre Village Mall in Lethbridge, AB

+ Caisse de dépôt et placement du Québec formed a long-term partnership agreement with Edelweiss Group to acquire US$600-700 in distressed assets and debt in India

+ Habitat for Humanity + Jimmy Carter + 150 homes for Canada’s 150th Anniversary next year; 75 will be built in Winnipeg, 75 in Edmonton

+ in San Francisco, the Tiffany Building sold for US$145 million; investors from Europe acquired the 97,000 sq. ft. office/retail facility … location, location, location

+ Rogers Real Estate Development Limited announced plans to create $1.5 billion in new 10-toweer condo development in the M-CITY project in downtown Mississauga, ON; first project is a 51-storey JV tower development with Urban Capital Property Group




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