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FACILITYCalgary June21/22

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ARCHIVED ISSUES

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Craig Broderick to Director @ Bank of Montreal

+ Dan Kalinski to CEO iProspect Canada @ Dentsu Aegis Network

+ David Collyer to Board Chair @ Emissions Reduction Alberta

+ David Filmon to Director @ Stuart Olson Inc.

+ David Pecker, Director @ Postmedia Network Canada Corp., resigned

+ Gregg Saretsky to Chairman @ Wood Buffalo Economic Development Corp.

+ Jeffrey Martin to COO @ WestJet

+ Keith Cerny, CEO @ Calgary Opera, stepping down

+ Louis Audet to Exec. Chairman @ Cogeco Communication Inc.

+ Martin Madden to Director @ TSO3 Inc.

+ Michael Kraus to Judge, Edmonton @ Court of Queen’s Bench of Alberta

+ Michael Newman, Director @ Distinct Infrastructure Group, resigned

+ Philippe Jetté to Pres. & CEO @ Cogeco Communication Inc.

+ Raymond Crossley to Director @ Stuart Olson Inc.

+ Rissa Revin to CEO DAS Legal Protection Inc. @ Munich Reinsurance Company of Canada

+ Russell Wilson to Director @ Gabriella’s Kitchen Inc.


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




 MEMORIAM

+ Bill Bell, geologist, Pres. @ Bellport Resources; 58

+ Donald Kelly QC, lawyer, philanthropist ; 84

+ Ray Barry, co-founder of Buchanan Barry LLP; 89




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ are you underpaid? … sign-up to get 2019 Robert Half Salary Guides

+ top rated workplaces in Canada according to INDEED




 KUDOS 

+ Marcus Purtzki, founder of Made by Marcus Ice Cream, creating a flavour ‘Jon’s Greatest Hits’ in tribute to his late friend and noted Calgary chef Jonathan Sobol




 QUOTES 

+ Words are powerful. They can created or they can destroy. So choose your words wisely. - unknown

+ I didn’t come this far, to only come this far. - unknown




 CALGARY OLYMPICS 2026 BID WATCH 


+ housing for athletes part of the plan – strategy to meet long term ‘affordable housing’ inventory after the games …

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

+ provincial and federal government support details will be left out of Sept. 10th ‘hosting plan’ decision by City Council

+ 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 September 4, 2018




 TODAY'S HEADLINES


HEADLINES: CRNL buying Joslyn | crude steady/up | Trans Mountain expansion stopped + deals + rig counts + upcoming events, appointments + climate change + infrastructure + REIT NEWS + financings + Olympic bid progress




CONVERSATIONS

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

A recent conversation with Susan Otterson, Pres. @ ABL Imaging Group

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



 sponsors of this week's issue:

e-mail Norm Landry
 
PROJECT MANAGEMENT



CONTACT MARK KOLKE 
RESIDENTIAL SALES



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



e-mail to Katherine Robinson, Managing Director

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



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



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



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



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



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



 
DATA CENTRE

e-mail: June.Read@DataHive.ca



 SAVE THE DATE / upcoming events

+ Sept. 3-5; World Heavy Oil Congress & Exhibition, Oman Convention Centre, Muscat, Oman; info/register

+ Sept. 5; Canadian Apartment Investment Conference, Metro Toronto Convention Centre, Toronto; info/register

+ Sept. 6; RealREIT Conference, Metro Toronto Convention Centre, Toronto; program/registration

+ Sept. 15-18; CAPL Conference 2018, Hotel Saskatchewan, Regina; program/register

+ Sept. 25-27; International Pipeline EXPO, Telus Convention Centre, Calgary; info/registration

+ Sept. 28; Friends of Fish Creek – A taste of Autumn – Wine & Beer Tasting and Silent Auction, Canyon Meadows Golf and Country Club; info/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. 30; 24th Annual Joint Conference – GPAC/PJVA; Calgary Petroleum Club, Calgary; info/registration

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

+ 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


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



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NEWS SUMMARY 
 August 28 ~ September 4 


+ Alberta first quarter reports are in; $1.0 billion drop in deficit

+ Alberta Premier Notley, in reaction to the Trans Mountain Pipeline decision, threatened to pull Alberta out of the federal climate plan …

+ back to school – SLOW DOWN AND WATCH OUT FOR THE KIDS!!!! … not just today, but every day!

+ Canadian Natural Resources Limited agreed to acquire 100% working interest in Joslyn oil sands project for $225.0 million from Total

+ current energy prices – live link to current Bloomberg energy prices / OilPrice.com; WTI steady around US$70/bbl, Brent at US$78/bbl …influenced by Iran sanctions, lower U.S. fuel inventories and Gulf of Mexico platforms shutting down due to approach of Hurricane Gordon

+ Eagle Energy Inc. closed its $13.82 million sale of its Twining, AB assets

+ Ensign Energy Services Inc. commenced process for its unsolicited takeover for Trinidad Drilling Ltd.

+ Federal Court of Appeal quashed the approval of the $9.3 billion Trans Mountain Pipeline Expansion Project in a 263 page unanimous written decision; reasons, chiefly, were ‘insufficient consultation’ with indigenous groups and ‘insufficient consideration of risks to ocean shipping’ by the NEB; no word on when/if the government will appeal

+ Journey Energy Inc. entered JV with Kiwetinohk Resources Corp. for development of East Duvernay oil assets

+ Kinder Morgan Canada Limited shareholders approved $4.5 billion sale of the Trans Mountain Pipeline and Expansion Project to the Government of Canada; and the transaction closed

+ Marquee Energy Ltd. agreed to sell a portfolio of non-core assets for $6.6 million

+ NAFTA watch: will Trudeau throw dairy under the bus? Lumber? Autos and auto parts? Intellectual property? … and Chapter 19 is the biggest stumbling block … tic toc

+ Pentanova Energy Corp. changed its name to CruzSur Energy Corp.

+ rig counts: down 1 on the week to 228; click for full breakdown

+ Thomson Reuters sold 55% of their financial risk business, to be now known as Rifinitiv to CPPIB, GIC and Blackstone for US$17.0 billion …

+ Toscana Energy Income Corporation closed its $12.0 million acquisition of Cortona Energy Ltd.

+ Trudeau government says it will press on with Trans Mountain Pipeline Expansion Project; no word yet on whether they will appeal Federal Appeal Court decision, start over … or use the might of government to get it done; the question, sadly, is not what will be done or should be done but what is politically expedient for Mr. Trudeau as he seeks re-election next year and needs seats in B.C.; tic toc …

+ U.S. rig counts: up 4 this week to 1,048; click for full breakdown




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Crombie REIT is on the market to raise $75.0 million in senior unsecured debt

+ Medical Facilities Corporation secured US$150.0 million credit facility

+ NuVista Energy Ltd. closed $392.0 million equity financings

+ NuVista Energy Ltd. secured $450.0 million credit facility

+ Petro-Victory Energy Corp. closed US$10.0 million sr. secured debt financing


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




 CONSTRUCTION NEWS + INNOVATION 

+ SNC-Lavalin and Linxon formed a new JV for the execution of turnkey electrical AC substation projects

+ Trans Mountain construction halted; Trudeau government vows to push ahead; no way to know when all that stockpiled pipe will be put in the ground … tic toc




 this week in REITS 


+ Artis REIT acquired Stapley Centre in Mesa, AZ; 277,264 sq. ft. 3-building office park for US$34.4 million

+ Crombie REIT is on the market to raise $75.0 million in senior unsecured debt

+ True North Commercial REIT closed its $22.0 million acquisition of 52,000 sq. ft. office property in Abbotsford, BC




 INFRASTRUCTURE / P3  


+ SNC-Lavalin agreed to sell its 6.3% interest in Astoria II power plant in New York City to NM Harbert Astoria LLC; terms not disclosed




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Brookfield Property Partners LP closed its acquisition of GGP (2nd largest mall owner in the U.S.) for $15.0 billion




 INTERESTING THINGS IN RETAIL 


+ Coco-Cola agreed to acquire Costa 4,000 unit European retail coffee and beverage chain for US$5.1 billion from Whitbread Group PLC

+ Town Shoes brand being closed down; 38 stores across the country, 4 in Calgary, to close down; sad departure of a wonderful brand created by Leonard Simpson and Harvey Routbard – two of Canada’s great and legendary shoe merchants …




 SHAREHOLDER MEETINGS

+ Sept. 12; GreenSpace Brands Inc., Annual and Special Meeting of Shareholders, Toronto

+ Sept. 19; Calgary Chamber of Voluntary Organizations, Annual General Meeting, Fort Calgary, Calgary


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



 CHARITY GOLF TOURNAMENTS 

+ Sept. 5-6; Calgary Flames Celebrity Charity Golf Classic, Country Hills Gold Club Calgary and Links of Glen Eagles, Cochrane; info/registration

+ Sept. 7; Calgary Drop-in & Rehab Centre – Kindness Open, Silvertip Resort, Canmore; info/register/sponsor

+ Sept. 16; Give’r FORE Liver Charity Golf Tournament, Fox Hollow Golf Course, Calgary; info/register


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



 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ Alberta Premier Notley, in reaction to the Trans Mountain Pipeline decision, threatened to pull Alberta out of the federal climate plan …

+ Harvest Power compost facility in Richmond, BC is shutting down – foul odor problem could not be solved

+ Imperial Oil pledged to cut greenhouse gas emissions from its oil sands operations by 10% by 2023 …




 CORPORATE RESPONSIBILITY REPORTS 


+ ARC Resources Ltd. released its 2018 Sustainability Report

+ Hydro One Limited published its 2017 Corporate Social Responsibility Report


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