FACILITYCalgary NEWSLETTER March 22, 2016 issue

TODAY’s HEADLINES:
NEWS | crude up over US$41/bbl | Dectector Exploration in receivership | Geo-Jade buying Bankers Petroleum | Pembina Pipeline $556 billion asset buy from Paramount | Penn West asset sale | Terra Energy went down |TransCanada buying Columbia Pipeline $13billion + Joonas Eronen interview | upcoming events, appointments, oilsands/heavy oil + climate change + infrastructure + REIT NEWS + financings + VIEWPOINT guest article by Gregory Siekaniec >>>>

FACILITYCalgary weekly newsletter, published by MaxComm Communications, a unit of PLANDflex Corporation
Whats Up:
+ ARPetrol Ltd. agreed to sell substantially all of its assets to Empressa Nacional Del Petroleo for $14.7 million
+ Birchcliff Energy Ltd. reduced its 2016 CapEx budget to $128 million, down from $140 million announced earlier
+ by-election day today in Calgary-Greenway to fill seat left vacant by Manmeet Bhullar’s death
+ budget day in Ottawa; Finance Minister Morneau will table the first budget of the Trudeau government – whether campaign promises can be met without ballooning a deficit is on everyone’s mind. Substantial infrastructure funding – as stimulus, is expected … tic toc
+ current energy prices – live link to Bloomberg energy prices
+ Detector Exploration Ltd. is in receivership; Hardie & Kelly Inc. appointed as Receiver, directors have resigned
+ FACILITYCalgary’s OP-ED page, guest article: ‘Protecting the treasure that is Canada’s boreal forest, by Gregory Siekaniec – click VIEWPOINT TAB
+ Geo-Jade Petroleum and affiliates agreed to acquire Bankers Petroleum Ltd. for $575 million
+ Loonie on the rise – slumping Canadian buck rose last week to US$0.77.05; slipped to 76.42 ahead of the federal budget
+ Modular Space Corporation and Williams Scotsman International Inc. agreed to merge their North American operations; terms not disclosed
+ Pacific NorthWest LNG project got its review process extended by 3 months; regulators need more timex
+ Pacific NorthWest LNG project got its review process extended by 3 months; regulators need more time
+ Pembina Pipeline Corporation agreed to acquire a portfolio of sour natural gas processing assets (the Musreau Complex) from Paramount Resources for $556 millionx
+ Pembina Pipeline Corporation agreed to acquire a portfolio of sour natural gas processing assets (the Musreau Complex) from Paramount Resources for $556 million
+ Penn West Petroleum Ltd. agreed to sell its Slave Point area properties for $148 millionx
+ Penn West Petroleum Ltd. agreed to sell its Slave Point area properties for $148 million
+ Saudi Refining Inc. and Royal Dutch Shell plc agreed to unwind their 50/50 refining and marketing venture operated as Motiva Enterprises LLC (Motiva has 3 U.S. gulf coast refineries with combined capacity in excess of 1.1 million barrels/day
+ Sears Canada is selling its Calgary logistics facility for $84 million in a sale/leaseback transactionx
+ Sears Canada is selling its Calgary logistics facility for $84 million in a sale/leaseback transaction
+ Smoothwater Capital acquired more than 10% of Alberta Oilsands Inc. to now hold 10.63%
+ SNC-Lavalin eliminated 950 jobs worldwide, 600 in Canada
+ Sterling Resources Ltd. got bondholder approval for its recapitalization
+ Suncor Energy Inc. and Canadian Oil Sands Limited completed their acquisition transaction, exchange of shares and board approvals
+ Terra Energy Corp., based on demands from creditors, is shutting in production, ceasing operations and bankruptcy proceedings are imminent; directors and officers have resigned
+ TransCanada Corporation agreed to acquire Columbia Pipeline Group for US$13.0 billion; has plans to sell $7 billion in assets to help fund the acquisition – including a $657 million/704 MW natural gas fired plant it just acquired
+ Trican Well Services Ltd. closed the sale of its U.S. subsidiary Trican Well Services L.P. for US$200 million
+ U.S. rig count this week dropped to 476, a record low. That count peaked at 4,530 in 1981; previously bottomed at 488 in 1999
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