CitySearch Journal

interesting excerpts from this week’s local headlines…

  • COVID-19 Update for Alberta:  280 deaths, 18,935 total cases – as of today, 62 persons are in the hospital with 14 in ICU.  A second-wave is feared with the numbers in Edmonton spiking.  Alberta implemented a Stage Two Launch and Stage 3 remains delayed due to the statistics.  School openings are a wild card causing concern with unpredictable outcome projections.  The Alberta has launched an app which enables contact tracing in the event you or someone you’ve been in proximity to contracts COVID-19
  • Alaska Alberta Railway (A2A) Development Corp. to connect North America to Global Markets received its Presidential Board Crossing Permit issued by President Trump – 30 km in Alaska and 2270 km in Canada and will connect with some existing railways then to Yukon and Ft. McMurray.  
  • Artis Real Estate Investment Trust is an unincorporated closed-end REIT based in Canada with a portfolio of properties in central and western Canada and select markets throughout the US.  Their properties are comprised of office, retail and mostly industrial.  Activist investor Sandpipe looks to oust most of the Artis REIT’s board.
  • ATCO agreed to acquire Pioneer Pipeline from TransAlta and Tidewater for $255MM
  • Calgary-based fourth generation founded in 1912, BURNCO sells off landscape centres to Site One Landscape Supply Inc. who is a distributor of landscape supplies in the US and has a growing presence in Canada. 
  • Chevron completes acquisition of Noble Energy
  • CruzSur Energy Corp. changed its name to NGX Energy International Corp. effective Oct 2, 2020
  • current energy prices – - crude prices softening over concern about duration and impact of COVID-19 pandemic.  Oil prices sink on larger than expected crude build.  API reported week ending Oct 2, 2020, a build in crude oil inventories of 951,000 barrels.  Previous week was 831,000 barrels, and analysts had predicted an inventory build of only 400,000 barrels 
  • Glenogle Energy Inc. & LP in CCAA creditor protection
  • LAPRAIRIE Group of Companies grows with acquisition of two heavy haul transportation companies, ENTREC Alberta Ltd. and Capstan Hauling
  • The idled facility of North Atlantic oil refinery in Come by Chance could close permanently.  Irving Oil terminated purchase an agreement for the purchase
  • Canadian Natural Resources Limited (CNRL) completes acquisition of Painted Pony Energy Ltd.
  • Pieridae Energy Limited engages EPCC Contractor Bechtel for its 2-Train Goldboro LNG facility
  • Canadian heavy crude’s discount versus West Texas Intermediate (WTI) widened slightly but remained in a narrow range.  
  • Royal Dutch Shell announced plans to cut staff by 9,000 worldwide, about 10% of its workforce between now and the end of 2022.  
  • Suncor Energy announced it will reduce staff up to 15% over the next 18 months due to significant drop in oil prices, the impact of the pandemic and continued market volatility.  The layoffs will be a combination of layoffs, voluntary buyouts and early retirement.
  • Calfrac Well Services in the news and just summarized the current status of its Amended Recapitalization transaction… what shareholders need to know to cut through the noise and
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