+ Calgary Transportation Department facing cost over-runs on West LRT leg; project budget of $1.4 billion forecast to be exceeded by $35 million which will be pulled from reserves for SE leg of the system
+ Climate Changes and Emissions Management Corporation has called for expressions of interest for projects to reduce greenhouse gas emissions
+ City of Calgary Council voted to preserve Eamon’s Bungalow Camp building and sign along side Crowchild for use as part of a new LRT station; cost is $1 million
+ Veresen Inc. commenced operations at its 400 megawatt gas-fired peaking generation facility in Ontario
+ Export Development Canada (EDC)’s annual Canadians at Work: 50 International Infrastructure Projects publication is now an online resource for Canadian companies in conjunction with ReNew Canada, an infrastructure publication
+ Norway launched the world’s largest carbon capture and storage facility; $1 billion project funded by Norwegian government will test two processes to prove-out economic viability
FACILITYCalgary published every Tuesday morning
FRESH ITEMS TODAY May 15 / 2012
+ Aereoquest International Limited closed its arrangement to acquire Geotech Ltd.
+ Bowood Energy Inc. and Legacy Oil + Gas Inc. agreed to combine to focus on Bakken production
+ Ally Financial (formerly GMAC) put its mortgage unit Residential Capital into bankruptcy
+ Athabasca Oil Sands Corp. changed its name to Athabasca Oil Corporation
+ JP Morgan senior execs dismissed in wake of trading losses first estimated at $2 billion, could be upwards of $4 billion … stay tuned
+ Marathon Oil Corp. acquired Paloma Partners II LLC for $759 million
+ Nexen Inc. abandoned $120 million Gulf of Mexico well
+ Oilsands Quest Inc. got its CCAA court protection extended to June 29
+ PACEpartners inc. agreed to a combination with Vivione BioSciences LLC
+ Pershing Square Capital Management LP continued its assault on the CPR board, marshalling support for wholesale board-member dump and replacement of CEO Fred Green in advance of Annual Meeting of Shareholders while CPR continued its media-blitz of information touting improved operating performance of the company and issued press statements refuting critique of analysts … stay tuned!
+ Ritchie Brothers agreed to acquire AssetNation Inc.
+ Statoil ASA and Cirque Resources formed a partnership to develop Montana properties
+ TransCanada Corporation announced it will proceed with its $275 million Keystone Hardisty Terminal project, expected to be in service by late 2014
+ Trican Well Service Ltd. cut its 2012 CapEx Budget by $132 million
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