+ west LRT line set to open in December – testing continues on $1.5 billion line, target date for opening is Dec. 10, depending on turn-over to Calgary Transit by the SNC-Lavalin led contractor consortium
+ Alberta Transportation Minister Ric McIver fuelling interest in Edmonton-Calgary bullet train project while speculating it might be a P3 or industry-only funded project; project cost estimates vary widely from $2.4 billion to $5 billion
QUOTES
“The quest for certainty blocks the search for meaning. Uncertainty is the very condition to impel man to unfold his powers.” – Erich Fromm
“You are imperfect and you are wired for struggle; but you are worthy of love and belonging.” – Brené Brown
FACILITYCalgary- Calgary oil & gas, business and real estate NEWS, Mark Kolke (Editor) - President, MaxComm Realty Advisors - Calgary office leasing, Calgary industrial leasing, P3 Public Private Partnerships - MaxComm Communications Publisher
+ BP agreed to sell its trouble plagued Texas City, Texas refinery and other assets to Marathon Petroleum for $2.5 billion transaction and earn-out package (78 yr. old facility processes 475,000 barrels/day)
+ concerns continue about health of Alberta beef industry, viability of shuttered XL Foods and safety of the food supply; bizarre XL secretively and silently silent, not admitting responsibility and accountability for e.Coli contamination, illness and deaths – largest food recallin Canadian history
+ Enbridge Inc’s Northern Gateway Pipeline Project final hearings start today in Prince George
+ financial markets closed yesterday – Columbus Day holiday in U.S., Thanksgiving in Canada
+ investors worldwide watching nervously – economy remains troubled, stock market volatile, bond market fraught with risk, natural gas still in the tank, oil price flusterbated – where to put your dough is complicated by Europe debt/nasty recession woes, problems are growing in China and the rest of Asia, emerging markets as vulnerable as ever, so why Calgary, why now? .. and why oil & gas, why now? …. too many questions in search of clear answers . . . stay tuned
+ Argent Energy Trust signed a deal to acquire $132.5 million producing properties in Texas and Oklahoma
+ Athabasca Oil Corporation got regulatory approval of Hangingstone Oil Sands Project 1, project to start 12,000/barrel/day production by 2nd half of 2014
+ Athabasca Oil Corporation firming up partnership for development of Hangingstone and Birch oilsands projects; widely rumoured to be Kuwait Petroleum Corp.
+ Baytex Energy Copr. Agreed to acquire oilsands leases with an approved thermal project from Koch Oil Sands Operating ULC for $120 million
+ Calgary Chamber of Commerce moving to BurnsBuilding across from City Hall
+ Canada Diagnostic Centres acquired 9 clinics from CML HealthCare Inc. for $17 million
+ Chinan Huanqui Contracting & Engineering Corp. acquired 2/3rds interest in Jim Novak’s Spec Engineering; new firm to operate as HQ Spec Engineering Inc.
+ ConnocoPhilips is exiting Peru exploration blocks, transferring its 45% interest to Gran Tierra Energy Peru SRL
+ Dundee REIT completed its transaction, vendor of 77 industrial properties to Dundee Industrial REIT for $575.9 million
+ Cumulative Environmental Management Association (CEMA) provided its 434 page EndPitLakes Guidance Document to the Government of Alberta
+ Fiera Capital Corporation acquired Canadian Wealth Management Group Inc.
+ Imperial Oil spending $100 million on tests of new technology for in-situ bitumen extraction by use of solvents to thin bitumen as alternative to SAGD
+ KEYreit closed a $16.07 million portfolio acquisition from Dundee REIT
+ Oilsands Quest Inc. $10 million asset sale to Cenovus Energy Inc. got court approval; Oilsands Quest continues to operate under court supervised creditor protection
+ Petromanas Energy Inc. agreed to acquired Gallic Energy Ltd.
+ Proventure Income Fund changed its name to Summit Industrial Income REIT
+ Ridgeline Energy Services Inc. closed its acquisition of Piedmont Technical Services Inc.
+ U.S. presidential race tightens following Romney wiping the floor with Obama in first of 3 head-to-head debates while Obama remains strong in swing states . . .
+ Summit Industrial Income REIT closed $50.1 million portfolio purchase
+ U.S. election cycle winding down in tight race for presidency and both houses of congress – inept/avoidance of financial crisis looming at deficit/debt levels remain high, inflating their way out of trouble appears the only option, as deadlines inch toward a cliff and lame-duck congress . . . stay tuned!
+ U.S. jobs numbers released show better than expected results, though criticism about accuracy and significance of them is in silly-season abundance
+ work a little longer, save a little more, get by with a little less . . . according to PIMCO
