FACILITYCalgary

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

FACILITYCalgary May 6/25

ARCHIVED ISSUES

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

+ Arthur Gitajn to CFO @ Ceridian

+ Blair McCreadie to Sr. FP & Fund Mgr. @ Fiera Properties Limited

+ Catherine Rogers to Director of Finance @ Rogers Insurance Ltd.

+ Darrick Evong to CEO @ Cordy Oilfield Services Inc.

+ Genevieve Giguere to Principal @ S2 Architecture

+ Guido De Ciccio, Sr. VP Operations Western Region @ Canadian Pacific, retired

+ Jaimie Levesque to Proposal Coordinator @ IBI Group

+ Jeremiah Kowalchuk to Pres., Alberta Branch @ The Canadian Bas Association

+ Jim Taylor, Exec. Dir. @ Edmonton Downtown Business Association, retiring

+ Karen Wichuk to VP Public Sector & Gov. Relations @ TEC Edmonton

+ Laura Jo Gunter to Pres. @ Bow Valley College

+ Luke Caplette to CFO @ Cordy Oilfield Services Inc.

+ Paul Genest to Sr. VP @ Power Corporation of Canada

+ Peter Cuthbert to COO @ Fiera Properties Limited

+ Pranav Pandya to CFO @ Fengate Capital Management Ltd.

+ Rick Manhas to COO @ Cordy Oilfield Services Inc.

+ Shailen Chande to Interim CFO @ NorthWest Healthcare Properties REIT

+ Stephanve Lavigne to Sr. VP & CFOR @ GDI Integrated Facility Services Inc.

+ Steven Stein, Exec. VP & Pres. Logistics @ Black Diamond Group, retired

+ Teresa Neto, CFO @ NorthWest Healthcare Properties REIT, resigned

+ Teresa Neto to CFO @ Pure Industrial REIT

+ William Secnik to VP Investments @ Fiera Properties Limited


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




 QUOTES

+ Friendship in unnecessary like philosophy, like art … It has no survival value; rather it is one of those things that give value to survival. – C.S. Lewis

+ We take our bearings, daily, from others. To be sane is, to a great extent, to be sociable. – John Updike




 KUDOS 

+ to recipients of Governor General’s Medal in Architecture recipients; among them, Calgary’s Sturgess Architecture for its Glacier Skywalk project




BOARDROOM changes, purges, appointments etc.

+ W. Galen Weston, Exec. Chairman @ George Weston Limited, stepped down

+ Galen G. Weston to Exec. Chairman @ George Weston Limited

+ Stephen Harper to Director @ Colliers International


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




 SHAREHOLDER MEETINGS

+ Sept. 26; Theatre Calgary Society, Annual General Meeting, Calgary

+ Sept. 27; Calgary Philharmonic Society, Annual General Meeting, Calgary

+ Sept. 30; Lightstream Resource Ltd., Special Meetings of Shareholders and Noteholders, 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 + TERMS 

+ 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

+ 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:
 
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updated September 20, 2016




 TODAY'S HEADLINES


NEWS | crude down | GOA approved 3 oilsands projects | InPlay Oil makes big bets | Lightstream for sale | MNP merger | Tervita re-org + Doug Cassidy interview | upcoming events, appointments, oil sands/heavy oil + climate change + infrastructure + REIT NEWS + financing$




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 Doug Cassidy, Director, Real Estate & Development Services, City of Calgary

Last week's conversation with Allan Nielsen

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



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 sponsors of this week's issue:

CONTACT DAWSCO
 
COFFEE SERVICES



e-mail to Sharon Martens
 
INTERIOR DESIGN



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



CONTACT PIVOTAL
 
PROJECT MANAGEMENT



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







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



INTERESTING REAL ESTATE NEWS, other places


+ a consortium of General Growth Properties, Simon Property Group and Authentic Brands Group closed and acquisition of retailer Aeropostale for US$243 million – which extracts the company and its 400 stores in Canada and the U.S. and 300 in other countries will stay afloat and keep their doors open … tic toc

+ Hawaii Prince Hotel Waikiki and Golf Club is undergoing a ‘repositioning’ and redevelopment budgeted at US$55.4 million; completion by Spring 2017

+ Sienna Senior Living Inc. acquired 40% interest in 246-bed Nicola Lodge (Port Coquitlam) and 118-bed Glenmore Lodge (Kelowna) for $27.6 million and $12.8 million respectively




 SAVE THE DATE / upcoming events

+ Sept. 20-22; BOMEX/BOMA Canada's National Conference & Exhibition, Regina; info/register

+ Sept. 22-25; 2016 Calgary Home + Design Show, BMO Centre, Stampede Park, Calgary info/register

+ 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

+ 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. 13 ~ 20  


+ Altura Energy Inc. closed $4.0 million acquisition of east/central Alberta oil assets

+ Anadarko Petroleum Corporation agreed to acquire deep-water GOM assets of Freeport McMoRan Oil & Gas for US$2.0 billion

+ Calgary’s 2026 Olympic bid exploration committee has a chairman: former police chief Rick Hanson

+ current energy prices – live link to current Bloomberg energy prices; crude prices continue weaker with Venezuelan, Libyan and Nigerian shipments returning to normal levels – each contributing to the glut and fear of continued oversupply …

+ GOA approved three oilsands projects to move forward; total capital value estimated at $4.0 billion; Blackpearl Resources Blackrod SAGD project, Surmont Energy’s Wildwood SAGD project and Husky Energy’s Saleski development project

+ Global Infrastructure Partners agreed to acquire a20% stake in Spain’s Gas Natural SDG SA from Repsol SA and partners for US$4.3 billion

+ IEA predicts crude glut will continue well into late 2017 – longer than previously thought

+ InPlay Oil Corp. and Anderson Energy Inc. agreed to combine; will operate as InPlay Oil Corp.

+ InPlay Oil Corp. agreed to acquire a portfolio of Pembina area assets from Bellatrix Exploration Ltd. for  $47 million

+ Kellogg Brown & Root LLC completed its acquisition of Honeywell Technology Solutions Inc.; terms not disclosed

+ Lightstream Resources was unable to reach a deal with its creditors and security holders; CCAA sale likely

+ Livingston International Inc. acquired Affiliated Customs Brokers (includes all Canadian and U.S. operations)

+ Maxim Power Corp. agreed to sell its 100% ownership of Comax France S.A.S. and its corporate parent Maxim Power Europe B.V. for a pile of Euros – about 47million

+ MNP LLP agreed to merge with A Hundred Answers, an Ottawa based digital advisory and technology services firm; terms not disclosed

+ NEB published new online tools to visualize Canada’s energy future ; and a video

+ NEB extend the sunset clause date for commencement of construction for the North Montney Pipeline Project to June 10, 2017

+ rig counts: U.S., down 2 this week to 506 (vs. 842 a year ago)

+ SMART Technologies Inc. closed its transaction with Foxconn Technology Group; Foxconn acquired 100% of SMART

+ Steelhead LNG and Seven Generations Ltd. have entered into an agreement to create a low-cost LNG supply for Asian markets in conjunction with Steelhead’s proposed Vancouver Island Malahat LNG export project … tic toc

+ Tervita Corporation is working with security holders and shareholders on a recapitalization transaction to cut debt …

+ TD Securities U.S. agreed to acquired Albert Fried & Company

+ Trudeau government is reported ready to impose a national carbon price on provinces which do not impose one …




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Automotive Properties REIT closed $40 million equity financing

+ Brookfield Asset Management Inc. is on the market to raise $500 million in term debt

+ Capital Power Corporation closed $160 million sr. unsecured debt financing

+ Cominar REIT closed $200 million equity financing

+ Crescent Point Energy Corp. closed $650 million equity financing

+ Encana Corp. is on the market to raise US$1.045 billion in equity

+ Essential Energy Servicers Ltd. is on the market to raise $10 million in equity

+ Gensource Potash Corporation closed $4.0 million flow-through shares financing

+ Industrial Alliance Insurance and Financial Services Inc. is on the market to raise $400 million in sub. debt

+ InPlay Oil Corp. is on the market to raise $70.0 million in equity

+ Parkland Fuel Corporation closed $300 million sr. unsecured debt financing

+ Petrocapita Income Trust closed $9.787 million equity financing

+ Scotiabank closed $500 million preferred share issue

+ Sun Life Financial Inc. closed $1.0 billion unsecured sub. debt financing

+ TELUS Corporation closed US$600 million sr. unsecured debt financing




 OIL SANDS AND 
HEAVY OIL NEWS 

+ GOA approved three oilsands projects to move forward; total capital value estimated at $4.0 billion; Blackpearl Resources Blackrod SAGD project, Surmont Energy’s Wildwood SAGD project and Husky Energy’s Saleski development project

+ Quest carbon capture and storage project reached its one-year milestone: in its first year capturing and storing one million tonnes of CO2  (Quest is the first CCS project applied to oil sands operations - collaboration between Shell, joint venture owners Chevron Canada Limited, Marathon Oil Canada Corporation and Alberta and Federal governments)

+ Smoothwater Capital Corporation increased its stake in Alberta Oilsands Inc., now the largest shareholder




 this week in REITS 


+ Automotive Properties REIT closed $40 million equity financing

+ CAP REIT closed its $17.1 million acquisition of 71-suite property in Halifax

+ Cominar REIT closed $200 million equity financing

+ Milestone Apartments REIT got unitholder approval to internalize its asset management

+ Nobel REIT agreed to sell a 19,000 sq. ft. office building in Boucherville for $4.05 million

+ Pure Multi-Family REIT LP closed its US$71 million acquisition of 368-door Oak Lawn project in Dalls suburb

+ Shailen Chande to Interim CFO @ NorthWest Healthcare Properties REIT

+ Teresa Neto, CFO @ NorthWest Healthcare Properties REIT, resigned

+ Teresa Neto to CFO @ Pure Industrial REIT




 INFRASTRUCTURE / P3  


+ GOA signed a 35 yr. contract with Meridiam/Keiwit consortium Mountain View Partners to design-build-operate and partially finance the Southwest Calgary Ring Road; $1.52 billion project will complete 31 km of six and eight land divided highway, 14 interchanges, one flyover, one rail crossing, 49 bridges and three river crossings over Elbow River and Fish Creek; expected to open in Oct. 2021

+ Infrastructure Ontario issued an RFQ to design-build-finance the Highway 401 Rail Tunnel project; details on MERX

+ Infrastructure Ontario issued an RFQ to design-build-finance the Cooksville GO Station project in Mississauga; details on MERX

+ Infrastructure Ontario issued an RFP to short-listed consortia to design-build-finance three GO Stations in the Stouffeville Corridor; details




 CLIMATE CHANGE / LEED / RENEWABLE ENERGY  

+ EllisDon named a member of the World Bank & United Nation's Carbon Leadership Coalition; of 90 business and strategic partners on the list, 20 companies are from Canada

+ GOA appointed a task force in support of transitioning to a lower-carbon economy as part of the Alberta Climate Leadership Plan; Gordon Lambert (chair), Dr. Vic Adamowicz, Shelly Vermillion, Suzanne West and Sara Hastings-SImon

+ Quest carbon capture and storage project reached its one-year milestone: in its first year capturing and storing one million tonnes of CO2  (Quest is the first CCS project applied to oil sands operations - collaboration between Shell, joint venture owners Chevron Canada Limited, Marathon Oil Canada Corporation and Alberta and Federal governments)


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

this site last updated May 6, 2025