James Kinnear | |
|---|---|
 | |
| Born | December 31, 1947 (age 75) Toronto, Ontario |
| Occupation(s) | Entrepreneur and philanthropist |
James S. Kinnear (born December 31, 1947) is a Canadian entrepreneur and philanthropist. Kinnear was born in Toronto, Ontario, and grew up in Montreal and Toronto.
Kinnear graduated from the University of Toronto in 1969 [1] with a Bachelor of Science degree and worked in the securities business in Toronto, London and Montreal until 1980. [2] In 1979 he was awarded the Chartered Financial Analyst (CFA) designation. [3] He subsequently moved to Calgary, Alberta where he established Kinnear Financial Consulting Limited in 1980 and then Pengrowth Management Limited in 1982. [4]
Pengrowth Management Limited, a private company, initially initiated investments in oil and gas properties on behalf of pension fund clients. In December 1988, Pengrowth Management Limited launched Pengrowth Gas Income Fund (the name was later changed to Pengrowth Energy Trust) with an initial public offering of $12.5million, a new investment vehicle which permitted individual investors to be involved with oil and gas production without being exposed to the added risks of oil and gas exploration. [5] Kinnear is recognized as a pioneer in the Canadian energy trust sector, and under his leadership Pengrowth Energy Trust grew into a $5 billion enterprise value. [6] [7]
Pengrowth Energy Trust acquired numerous oil and gas producing properties between 1989 and 2009 under the direction of James Kinnear and his company, Pengrowth Management Limited. Some of the more notable acquisitions include: Judy Creek/Swan Hills – acquired from Imperial Oil in 1997 for C$496 million; [8] an interest in the Sable Offshore Energy Project – acquired in 2001 for C$265 million; [9] the C$550 million acquisition of Murphy Canada assets in 2004; [10] the Carson Creek purchase in 2006 – acquired from Imperial Oil for C$475million; [11] and a C$1 billion acquisition of various assets from ConocoPhillipsin 2007. [12] Additionally, Pengrowth Energy Trust combined with Esprit Energy Trust in 2006. [13] At the time, Esprit Energy Trust’s market capitalization was over C$1.0 billion. [14]
Upon his retirement from Pengrowth Energy Trust in 2009, Kinnear, along with other investors, established Caledonian Royalty Corporation, a private Canadian Corporation that purchases royalty interests in oil and gas properties. [15] Caledonian Royalty Corporation currently holds royalty interests (royalties) in the oil and gas production of twelve Canadian energy companies.
Kinnear is active in the community, and is known for supporting various organizations that promote leadership, sports, culture, health and education. He has donated, and encouraged others to give, tens of millions of dollars to nonprofit and charitable initiatives.
Since 1992, he has chaired an annual golf tournament that has raised over C$10 million for the Calgary Health Trust. [16] In January 2010, proceeds from this tournament were used to purchase a C$3.3 million surgical robot for the Rockyview General Hospital in Calgary. [17] In honour and recognition of Kinnear’s long standing support of health care in Calgary, the recently opened emergency centre at the Rockyview General Hospital was named after him. [18] [19]
In 2000, Kinnear’s private company, Pengrowth Management Limited, sponsored the National Hockey League (NHL) arena in Calgary known as the Saddledome and it was thus renamed the Pengrowth Saddledome. This move helped to keep the Calgary Flames, the local NHL hockey team from leaving the city at a particularly difficult time for the franchise. [20] The naming rights agreement with the Calgary Flames and the Saddledome expired in 2010. [21]
Through Pengrowth Management Limited, Kinnear established the Pengrowth-Nova Scotia Energy Scholarship in 2005 in partnership with the government of the province of Nova Scotia. The aim of this $2.5 million scholarship program is to enhance petroleum industry skills for the students in Nova Scotia’s post secondary institutions. [22] During the same year, Kinnear became a founding partner of the Duke of Edinburgh’s Award for Business. He subsequently became the National Benefactor for Canada as a result of making the largest single donation to the Duke of Edinburgh's Award in Canada. [23]
In 2007 Kinnear lead an effort to assist the Royal Canadian Golf Association (RCGA) in the search for a title sponsor for the Canadian Open. He gathered several executives and business leaders for roundtable discussions at both the 2007 Canadian Open at Angus Glen Golf Club in Markham, Ontarioas well as the Presidents Cup in Montreal. His passion and dedicated efforts in 2007 proved to be a major catalyst in RBC ultimately signing on as title sponsor of RBC Canadian Open. [24] As a result, he was awarded the RCGA Distinguished Service Award in 2008.
Kinnear has donated C$5 million and engaged his friends and business associates to commit a further C$5 million to the Banff Centre's Kinnear Centre for Creativity and Innovation, a major new building opened in 2010 at the heart of the Banff Centre. [25]
Kinnear was a member of the board of directors of the National Art Centre Foundation from 2009 to 2012. He was co-chair of the Governor General's Annual Award for the Performing Arts in 2010 and 2011.
Substantial fundraising for renovation activities at St. George's Chapel in Windsor, England, were made possible by the Bray Fellowship of which Kinnear is a member.
The economy of Alberta is the sum of all economic activity in Alberta, Canada's fourth largest province by population. Alberta's GDP in 2018 was CDN$338.2 billion.
Edgar Peter Lougheed was a Canadian lawyer and Progressive Conservative politician who served as the tenth premier of Alberta from 1971 to 1985, presiding over a period of reform and economic growth.
The Athabasca oil sands, also known as the Athabasca tar sands, are large deposits of bitumen or extremely heavy crude oil that constitute unconventional resources, located in northeastern Alberta, Canada – roughly centred on the boomtown of Fort McMurray. These oil sands, hosted primarily in the McMurray Formation, consist of a mixture of crude bitumen, silica sand, clay minerals, and water. The Athabasca deposit is the largest known reservoir of crude bitumen in the world and the largest of three major oil sands deposits in Alberta, along with the nearby Peace River and Cold Lake deposits.
Scotiabank Saddledome is a multi-use indoor arena in Calgary, Alberta, Canada. Located in Stampede Park in the southeast end of downtown Calgary, the Saddledome was built in 1983 to replace the Stampede Corral as the home of the Calgary Flames of the National Hockey League, and to host ice hockey and figure skating at the 1988 Winter Olympics.
Harvey the Hound is the mascot of the National Hockey League's Calgary Flames. Introduced in 1983, Harvey was the first mascot in the NHL. Harvey is described by the Flames as being 6'6" and 200 lbs. He was acquired as the Flames’ "first pound draft pick" in 1983.
The Alberta Heritage Savings Trust Fund(HSTF) is a sovereign wealth fund established in 1976 by the Government of Alberta under then-Premier Peter Lougheed. The Heritage Savings Trust Fund was created with three objectives: "to save for the future, to strengthen or diversify the economy, and to improve the quality of life of Albertans." The operations of the Heritage Savings Trust Fund are subject to the Alberta Heritage Savings Trust Fund Act and with the goal of providing "prudent stewardship of the savings from Alberta's non-renewable resources by providing the greatest financial returns on those savings for current and future generations of Albertans." Between 1976 and 1983 the Government of Alberta deposited a portion of oil revenue into the fund. The Heritage Savings Trust Fund used oil revenues to invest for the long term in such areas as health care, education and research and as a way of ensuring that the development of non-renewable resources would be of long-term benefit to Alberta. The strategy and goals of the fund have changed through successive provincial governments which moved away from direct investments in Alberta to a diversified approach, which now includes stocks, bonds, real estate and other ventures.
The 1983–84 Calgary Flames season was the fourth season in Calgary and 12th for the Flames franchise in the National Hockey League. The Flames finished in second place in the Smythe Division, earning a first round playoff match-up against the Vancouver Canucks. Calgary defeated Vancouver in four games to face the top team in the NHL, the Edmonton Oilers. The Flames took the series to the maximum seven games, ultimately falling to the Oilers in the seventh game by a 7–4 score.
Pengrowth Energy Corporation was a Canadian oil and natural gas company based in Calgary, Alberta. Established in 1988 by Calgary entrepreneur James S Kinnear, it was one of the largest of the Canadian royalty trusts ("Canroys"), with a market capitalization of US$4.12 billion at the end of 2007. Its assets were approximately evenly distributed between oil and natural gas.
Obsidian Energy Ltd. is a mid-sized Canadian oil and natural gas production company based in Calgary, Alberta.
Calgary is a city in the Canadian province of Alberta. It is the largest city in Alberta and the largest metro area within the three Prairie Provinces region. As of 2021, the city proper had a population of 1,306,784 and a metropolitan population of 1,481,806, making it the third-largest city and fifth-largest metropolitan area in Canada.
The Honorable Richard D. "Rick" Orman is a businessman and former Canadian politician. Orman was born in Calgary, Alberta in 1948 as a fourth generation Albertan. He studied at the University of Calgary before graduating with honours from Eastern Washington University in 1971. Orman served as a member of the Legislative Assembly of Alberta from 1986 to 1993. Since 1993, he has been active within the business community, both provincially and internationally.
Enerplus Corporation is one of Canada’s largest independent oil and gas producers. The company holds oil and natural gas property interest in the United States and in western Canada, in the provinces of Alberta, British Columbia and Saskatchewan. The company is based out of Calgary, Alberta and trades on both the Toronto Stock Exchange and the New York Stock Exchange. It was Canada's first income trust.
William Brett Wilson is a Canadian investment banker, businessman, and investor. He was a season 3, 4 & 5 panellist on CBC Television's Dragons' Den. He has attracted widespread attention and media coverage for his controversial public statements, particularly on social media.
ARC Resources Ltd. (ARC) is a Canadian energy company with operations focused in the Montney resource play in Alberta and northeast British Columbia. The company has been operating since 1996. ARC pays a quarterly dividend to shareholders and its common shares trade on the Toronto Stock Exchange under the symbol ARX.
Although there are numerous oil companies operating in Canada, as of 2009, the majority of production, refining and marketing was done by fewer than 20 of them. According to the 2013 edition of Forbes Global 2000, canoils.com and any other list that emphasizes market capitalization and revenue when sizing up companies, as of March 31, 2014 these are the largest Canada-based oil and gas companies.
The Alberta Association of Architects published their Chronicle of Significant Alberta Architecture in February 2003 and August 2005. The project's main goal was to ensure that the public, as well as those with a professional interest in the subject, could easily identify architecturally significant structures developed and still standing in Alberta. The project was undertaken in association with the Government of Alberta.
Canadian Natural Resources Limited, or CNRL or Canadian Natural is a senior Canadian oil and natural gas company that operates primarily in the Western Canadian provinces of British Columbia, Alberta, Saskatchewan, and Manitoba, with offshore operations in the United Kingdom sector of the North Sea, and offshore Côte d'Ivoire and Gabon. The company, which is headquartered in Calgary, Alberta, has the largest undeveloped base in the Western Canadian Sedimentary Basin. It is the largest independent producer of natural gas in Western Canada and the largest producer of heavy crude oil in Canada.
The Ministry of Environment and Protected Areas of Alberta is the Alberta provincial ministry of the Executive Council of Alberta responsible for environmental issues and policy as well as some, but not all, parks and protected areas in Alberta.
The Canadian province of Alberta faces a number of environmental issues related to natural resource extraction—including oil and gas industry with its oil sands—endangered species, melting glaciers in banff, floods and droughts, wildfires, and global climate change. While the oil and gas industries generates substantial economic wealth, the Athabasca oil sands, which are situated almost entirely in Alberta, are the "fourth most carbon intensive on the planet behind Algeria, Venezuela and Cameroon" according to an August 8, 2018 article in the American Association for the Advancement of Science's journal Science. This article details some of the environmental issues including past ecological disasters in Alberta and describes some of the efforts at the municipal, provincial and federal level to mitigate the risks and impacts.
The Canadian Energy Centre Limited (CEC), also commonly called the "Energy War Room", is an Alberta provincial corporation mandated to promote Alberta's energy industry and rebut "domestic and foreign-funded campaigns against Canada's oil and gas industry". The creation of an organization to promote Alberta's oil and gas industries was a campaign promise by United Conservative Party leader Jason Kenney during the 2019 Alberta general election. After winning a majority of seats in the election, Kenney's government inaugurated the CEC with a $2.84 million budget in December 2019. The CEC originally had an annual budget of CA$30 million which was decreased to $CA12 million. The CEC has been the subject of several controversies since its establishment, including accusations of plagiarizing logo designs. The CEC attracted widespread media attention when it launched a campaign against the Netflix animated children's movie Bigfoot Family because it cast Alberta's oil and gas industry in a negative light.