FACILITYCalgary

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

FACILITYCalgary June21/22

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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 Daryl Ronsky, Vice Pres. @ Rosen Canada

Last week's conversation with Nair Bailey, Pres. & General Mgr. @ Bailey Professional Search

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



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

+ Andre Zimmerman to Executive Chef @ Calgary Petroleum Club

+ Andrew Auerback to Head of Sales & Distribution, Canadian Banking @ Bank of Montreal

+ Arv Gupta to Sr. VP Operations @ The Cadillac Fairview Corporation Limited

+ Bertil Olsson to Pres. & CEO @ OIL Group

+ Bob Choo to CFO @ R&R REIT

+ Charles Lyons to VP EH&S @ AltaGas Ltd.

+ Christian Exshaw to Head of Global Markets @ CIBC

+ Danielle Lavoie to Sr. VP Eastern Canada Portfolio @ The Cadillac Fairview Corporation Limited

+ Diana Mah to Judge, Calgary Family and Youth Div. @ Provincial Court of Alberta

+ Dominic Mercuri, Chief Marketing Officer @ TD Bank, retiring

+ Duncan Osborne to Sr. VP Development @ The Cadillac Fairview Corporation Limited

+ Harold Huber to Sr. VP @ Kensington Capital Partners Limited

+ Jack Mintz to National Strategic Policy Advisor @ Ernst & Young

+ James Davise to CIO @ OPTrust

+ Jean-François Chalifoux to CEO @ SSQ Financial Group

+ Jodi Jenson Labrie to Sr. VP & CFO @ Enerplus Corporation

+ Karl Kreppner to Sr. VP Investments @ The Cadillac Fairview Corporation Limited

+ Liana Robberect to Executive Chef @ WinSport/Canada Olympic Park

+ Louie DiNunzio to Sr. VP Investments @ The Cadillac Fairview Corporation Limited

+ Lynn Hart, Property Manager – Sun Life Plaza @ CREIT Management, died

+ Ming Zhou to Interim CFO @ Sahara Energy Ltd.

+ Morley Sklar, long time owner @ British Book Shops, died

+ Robert Beekhuizen to Sr. VP Engineering @ AltaGas Ltd.

+ Robert Shaw to Sr. VP & CFO @ Enerkem Inc.

+ Roman Dubczak to Head of Global Investment Banking @ CIBC

+ Theresa McLaughlin to Chief Marketing Officer @ TD Bank

+ Yachao Peng to CEO @ Sahara Energy Ltd.


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




BOARDROOM changes, purges, appointments etc.

+ Christopher Burley to Director @ WestJet Airlines Ltd.

+ Christopher Rudge to Director @ Niko Resources Ltd.

+ Dr. Mark Stauffer to Director @ Gensource Potash Corporation

+ Helen Kearns to Director @ Alberta Investment Management Corp.

+ Irfan Lakha to Trustee @ R&R REIT

+ John Lowe @ TransCanada Corporation & TransCanada PipeLines Limited

+ Ken Stadlin to Director @ Finavera Solar Energy Inc.

+ Michael Clark to Director @ Finavera Solar Energy Inc.

+ Robert Pratt, Trustee @ American Hotel Income Properties REIT LP, resigned

+ Yachao Peng to Chairman @ Sahara Energy Ltd.




 SAVE THE DATE / upcoming events

+ Sept. 28-29; 10th Annual Pipeline Development & Expansion Conference, Houston; agenda - info/register

+ Sept. 30; Genscape’s 2015 Oil and Natural Gas Symposium, Houston; info/registration

+ Oct. 1; RICS launch of IPMS [International Property Measurement Standards], Fort Calgary Main Floor Barrracks, Calgary; tickets/register

+ 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. 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. 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. 26/2016; BUILDEX Vancouver, Vancouver Convention Center, Vancouver

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


+ 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


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



  GLOSSARY 

+ AER - Alberta Energy Regulator

+BBLS – barrels

+ BBLS/D – barrels per day

+ BOE – barrel of oil equivalent

+ CAPP - Canadian Association of Petroleum Producers

+ COSIA - Canada's Oil Sands Innovation Alliance

+ CREB - Calgary Real Estate Board

+ GJ - gigajoule

+ GOA - Government of Alberta

+ IPO – Initial Public Offering

+ 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

+ sub. - subsidiary

+ WTI – West Texas Intermediate




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PROJECT MANAGER / P3 / PUBLISHER

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


updated ... September 22, 2015




 TODAY'S HEADLINES


crude price up-tick | AltaGas spending US$642 on power plants | APEGA hacked | Caisse de dépôt investing big in Mexico | CPR buys a line | Cardinal Energy sale | Nexen Long Lake fully operational | Suncor buys 10% of Fort Hills | Total buying Strad | lots of financings this week | Daryl Ronsky interview | upcoming events & corp. meetings + climate change & infrastructure news + REIT news + executive and board appointments >>>>




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 INFRASTRUCTURE / P3  


+ AltaGas Ltd.’s sub. agreed to acquire three natural gas fired power generation facilities (523MW) for US$642 million

+ Caisse de dépôt et placement du Québec created at co-investment platform to invest in infrastructure opportunities in Mexico; JV will include a consortium of Mexican institutional investors joined under CKD Infraestructura México, S.A. de C.V., a newly-created trust expects to invest up to CAD$2.8 billion over the next five years

+  Infrastructure Ontario and Groves Memorial Community Hospital issued an RFQ to design, build and finance a new hospital in Fergus, ON; completion expected mid-2019

+ University of Calgary officially opened two new on-campus student residence buildings; Aurora (268 beds - undergrads) and Crowsnest Hall (390 beds – grad students)




 QUOTES

+ It is a good rule after reading a new book, never to allow yourself another new one till you have read an old one in between. – C.S. Lewis

+ A woman is like a tea bag – you can’t tell how strong she is until you put her in hot water. – Eleanor Roosevelt




 KUDOS 

+ to Brett Wilson, recipient of the 2015 Bob Edwards Award, awarded by Calgary Public Library Foundation

+ to Pat Ottmann, Publisher of Business In Calgary magazine – celebrating its 25th Anniversary




 SHAREHOLDER MEETINGS

+ Sept. 22; Alimentation Couche-Tard Inc., Shareholders Annual Meeting, Laval

+ Sept. 29; Deep Well Oil & Gas Inc., Edmonton

+ Sept. 29; Calgary Philharmonic Society, Annual General Meeting, Calgary

+ Oct. 9; Amica Mature Lifestyles Inc., Annual and Special Meeting, Vancouver

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

+ 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 
 September 15 - 22 


+ AltaGas Ltd.’s sub. agreed to acquire three natural gas fired power generation facilities (523MW) for US$642 million

+ APEGA got hacked; their data on members (75,000) and email addresses were given to an unknown party

+ ATB – daily economist’s outlook

+ Bank of Canada Governor Stephen Poloz was in town – spoke at the 2016 Economic Outlook event sponsored by Calgary Economic Development; said we’ve managed in the past and we’ll manage in the future. Duh! OK, he said more … like ‘Why did oil prices fall so much? …supply rose sharply’ .. Double-duh! [comments excerpted from his own press release]. He’s gone back to Ottawa, having said/done nothing here worth reporting

+ Barnwell Canada Limited closed its US$14.8 million acquisition of Dunvegan and Belloy area oil and natural gas properties

+ Caisse de dépôt et placement du Québec created at co-investment platform to invest in infrastructure opportunities in Mexico; JV will include a consortium of Mexican institutional investors joined under CKD Infraestructura México, S.A. de C.V., a newly-created trust expects to invest up to CAD$2.8 billion over the next five years

+ Canadian Pacific Railway Limited closes is sale of the Delaware & Hudson line (Schenectady, NY to Sunbury, PA) for US$214.5 million

+ Candax Energy Inc. announced a going-private transaction; Geofinance N.V. holds 80.7%

+ Cardinal Energy Ltd. agreed to acquire of portfolio of Mistue area central Alberta light oil assets for $129 million

+ Conference Board of Canada forecasting mild-recession for Alberta this year, and next …

+ current energy prices – live link to Bloomberg energy prices ; crude prices rose 3% yesterday as U.S. glut subsides and concern rose of reduced drilling activity; OPEC are now projecting US$80/bbl by 2020 which seems to have speculators in a tizzy … as if OPEC’s grip is reliable. Meanwhile Saudi’s continue to flood the market, keeping prices low, in some strange hope that everyone else will decrease projection so they can improve/maintain market share – a very expensive strategy indeed while they face huge domestic budget deficits … tic toc …

+ Montana Exploration Corp. and Gale Force Petroleum Inc. completed their plan of arrangement; will continue as Montana Exploration

+ Nexen Energy ULC has resumed full production at its Long Lake project now that the AER suspension has been lifted

+ Northern Frontier Corp. closed its $3.7 million acquisition of SL Oilfield Construction Ltd.

+ Quicksilver Resources Inc. started the process to sell substantially all of its Canadian and U.S. assets in conjunction with its U.S. Chapter 11 bankruptcy proceedings

+ Stantec Inc. growing again: agreed to acquire/merge with Fay, Spofford & Thorndike (9 offices, 280 employees)

+ Suncor Energy Inc. agreed to acquire a 10% working interest in the Fort Hills oil sands project from Total E&P Cana Ltd. for $310 million; Suncor now holds 50.8% of Fort Hills

+ Total Energy Services Inc. is making a takeover bid to acquire Strad Energy Services Ltd.

+ U.S. Federal Reserve DID NOT raise interest rates last week as expected due to concerns the global and U.S. economies have not recovered sufficiently; this is a green-light to bond buyers as assurance the central bank won’t increase rates for some time …and now it appears the Bank of England may cut rates as a fix for too-low inflation




THIS WEEK IN FINANCINGS 
- proposed & closed

+ AltaGas Ltd. is on the market to raise $345 million in equity

+ Canadian Apartment Properties REIT is on the market to raised $250 million in equity

+ Cardinal Energy Ltd. is on the market to do a $100 million equity raise

+ Claude Resources Inc. secured $25 million credit facility

+ Exchange Income Corporation closed $75 million equity raise

+ Formation Fluid Technology Inc. is on the market to raise $3 million in convertible unsecured sub. debt

+ Gran Tierra Energy Inc. secured a US$500 million credit facility

+ Macro Enterprises Inc. secured $115 million credit facility

+ Northern Aspect Resources Ltd. is on the market to raise $1 million in equity

+ NorthWest Healthcare Properties REIT is on the market to raise $50 million in equity

+ Perisson Petroleum Corporation closed $2.1 million equity raise

+ Temple Hotels Inc. is on the market to raise $40 million in equity by a rights offering

+ Timbercreek Real Estate Fund closed $11,818,800 equity raise




 CLIMATE CHANGE / LEED / RENEWABLE ENERGY  

+ Alberta Innovates Bio Solutions – launched a new funding program, Alberta Bio Future, Research and Innovation; application for proposal submissions is Oct. 28/15

+ Blackbird Energy Inc. is partnering with Carbon Farmer in a Tree Planting Program to help offset the company’s environmental impact …

+ CMC Research Institutes released a decarbonization study




INTERESTING REAL ESTATE NEWS, other places


+ American Hotel Income Properties REIT LP closed its acquisition of a 5-hotel (586 rooms) portfolio; US$44.8 million

+ GWL Realty Advisors acquired an 89 suite apartment in Bedford South, Nova Scotia, for $201.2 million

+ Stantec Tower under development in Edmonton, earlier announced as 62 floors, has grown to 66 – when completed it will be the tallest (at 251 metres) in Canada outside Toronto, Canada’s 7th highest

+ Starwood Waypoint Residential Trust agreed to buy Colony American Homes for US$1.5 billion and bring Starwood’s portfolio to 30,000 rental homes

+ TELUS and Westbank Projects Corp. opened the TELUS Garden office tower in downtown Vancouver; LEED platinum project - $750 million project includes 450,000 sq. ft. of office space, and 53-storey residential building

+ The Cadillac Fairview Corporation Limited completed first office tower development in downtown Montreal in more than 20 yrs.; $200 million/500,000 sq. ft. Deloitte Tower is first in the Quad Windsor project – a LEED Platinum project




 this week in REITS 


+ Allied Properties REIT closed its acquisition of retail and office components of 560 King Street W in Toronto

+ American Hotel Income Properties REIT LP closed its acquisition of a 5-hotel (586 rooms) portfolio; US$44.8 million

+ American Hotel Income Properties REIT LP closed its US$4.4 million acquisition of 160-room Hampton Inn Harrison, Virginia

+ Bob Choo to CFO @ R&R REIT

+ Canadian Apartment Properties REIT (CAPREIT) agreed to acquire 3,661 suites in Montreal for $490 million

+ Irfan Lakha to Trustee @ R&R REIT

+ Nobel REIT closed its $9.5 million acquisition – a 50% interest in 72 rue Laval in Gatineau, QB;  a 68,365 sq. ft. office building, 98.8% leased to Government of Canada

+ NorthWest Healthcare Properties REIT is on the market to raise $50 million in equity

+ Robert Pratt, Trustee @ American Hotel Income Properties REIT LP, resigned




 OIL SANDS NEWS 

+ Nexen Energy ULC has resumed full production at its Long Lake project now that the AER suspension has been lifted

+ Suncor Energy Inc. agreed to acquire a 10% working interest in the Fort Hills oil sands project from Total E&P Cana Ltd. for $310 million; Suncor now holds 50.8% of Fort Hills


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