+ Husky Energy started steam operations at the second of two processing facilities at its Sunrise Energy Project 60 km. NE of Fort McMurray
+ Nexen Energy ULC secured an amendment of the AER order on its Long Lake shutdown; restarting 75% of its pipelines and will continue to comply with AER order
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
+ MW – megawatt (1 million watts)
+ NEB – National Energy Board
+ NGLs – natural gas liquids
+ P3 – Public Private Partnership
+ REIT – Real Estate Investment Trust
+ WTI – West Texas Intermediate
FACILITYCalgary current week data
this site is refreshed with a new issue every Tuesday morning
updated ... September 8, 2015
TODAY'S HEADLINES
ConocoPhillips staff cuts | CPPIB stake in Tesco Korea unit | Enbridge moves $30.4 billion in assets | Husky Sunrise start | Nexen restarts Long Lake | Stonepoint, & Vertex closed acquisitions | Tervita layoffs | Thermal Systems buying Skyline + Andre Kerkovius interview | upcoming events & corp. meetings + climate change & infrastructure news + REIT news + financings + executive and board appointments >>>>
KUDOS
+ to BOMA Enmax Golf Classic; to committee, Enmax and staff at Priddis Greens – great job, great day!
+ Axium Infrastructure Inc. is the name for Fiera Axium Infrastructure Inc.
+ Bank of Canada interest rate announcement set for tomorrow – Sept 9th
+ Calgary Stampeders won the Labour Day Classic, defeating Edmonton Eskimos 16-7
+ China is trying to shore up its currency; liquidated more than US$100 billion in last month
+ ConocoPhillips announced plans to cut its workforce by 10% (1,800 staff) by mid-October; 400 job losses expected in Calgary
+ current energy prices – live link to Bloomberg energy prices ; after an uptick week, crude retreated below US$45/barrel as U.S. stockpiles bulged
+ Cushman & Wakefield completed their acquisition and absorption of DTZ
+ Enbridge Income Fund closed its $30.4 billion acquisition of Enbridge Pipelines Inc. and Enbridge Pipelines Athabasca Inc., the Canadian Liquids Pipelines business of Enbridge Inc.
+ Husky Energy started steam operations at the second of two processing facilities at its Sunrise Energy Project 60 km. NE of Fort McMurray
+ Labour Day yesterday, financial markets closed
+ Nexen Energy ULC secured an amendment of the AER order on its Long Lake shutdown; restarting 75% of its pipelines and will continue to comply with AER order
+ Northern Frontier Corp. agreed to acquire SL Oilfield Construction Ltd. for $4.6 million
+ Ontario Teachers’ Pension Plan Board agreed to acquire Amica Mature Lifestyles Inc. for $578 million
+ Pengrowth cut its dividend, its head office staff (7%) and its cap ex budget
+ Saudi Arabia’s Supreme Economic Council will separate its state oil company (Saudi Aramco) from the oil ministry as the government moved to reduce domestic program spending due to reduced oil revenues
+ Statistics Canada finally announced what most of us have known sensed some time – Canada is in recession; in Calgary things are far worse than that. Most people are digging deep, gritting their teeth and working harder than ever … and new enterprises are being created, deals are being done – though admittedly, not much office space is being leased to the chagrin of landlords and sublandlords
+ StonePoint Energy Inc. closed its $16,747,126 acquisition of Endurance Energy Ltd.
+ Sun Life Financial Inc. closed its acquisition of Bentall Kennedy Group
+ Tervita Corporation cut its corporate staff by 15%
+ Tesco sold off its South Korea unit to a private equity consortium for US$6.1 billion; the Canada Pension Plan Investment Board is part of the consortium – 21.5%/US$534 million
+ Thermal Systems KWC Ltd. acquired Skyline Building Envelope Solutions and Skyline Building Systems Inc.
+ Tidewater Midstream and Infrastructure Ltd. agreed to acquire 80% interest in a West Pembina area pipeline for $8.4 million
+ Vertex Resource Group Ltd. acquired Ignite Energy Services Ltd., Glacier Ridge Ventures Ltd. and Tar Energy Services
+ Woodside Petroleum has made a US$8.1 billion takeover bid to acquire Oil Search Ltd
+ SkyFire Energy have a tracking system – generates 38% more power than stationary panels – at its SunMine installation at TEck’s former Sullivan Mine site
+ Brewster Travel announced it will invest $26 million to enhance/redevelop its Banff Gondola; PCL Construction & Global Experience Specialists will design & build a new facility on the existing footprint on Sulpher Mountain; will re-open May 2016 with full completion set for August 2016
+ Strathallen Capital Corp. acquired the Centre Jacques Cartier shopping centre in Longueuil from RioCan REIT for $17.6 million
+ Temple Hotels Inc. closed its $38 million sale of Hotel Saskatchewan to InnVest REIT; to be re-flagged as Autograph Collection by Marriott
this week in REITS
+ InterRent REIT agreed to acquire a 818 suite portfolio in Hamilton for $51 million
+ Michael Forsayeth to Interim CEO @ Granite REIT
+ Pure Multi-Family REIT LP closed that sale Oakchase Apartments in Arlington, TX for US$17.85 million
+ Slate Office REIT agreed to sell 505 Industrial Drive in Milton, ON for $22.5 million to an undisclosed buyer
+ Strathallen Capital Corp. acquired the Centre Jacques Cartier shopping centre in Longueuil from RioCan REIT for $17.6 million
+ Temple Hotels Inc. closed its $38 million sale of Hotel Saskatchewan to InnVest REIT; to be re-flagged as Autograph Collection by Marriott
