James S Kinnear
| James Kinnear | |
|---|---|
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| Born |
December 31, 1947 (age 70) Toronto, Ontario |
| Occupation | 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 with a Bachelor of Science degree and worked in the securities business in Toronto, London and Montreal until 1980. In 1979 he was awarded the Chartered Financial Analyst (CFA) designation. He subsequently moved to Calgary, Alberta where he established Kinnear Financial Consulting Limited in 1980 and then Pengrowth Management Limited in 1982.
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. 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.
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; an interest in the Sable Offshore Energy Project – acquired in 2001 for C$265 million; the C$550 million acquisition of Murphy Canada assets in 2004; the Carson Creek purchase in 2006 – acquired from Imperial Oil for C$475million; and a C$1 billion acquisition of various assets from ConocoPhillipsin 2007. Additionally, Pengrowth Energy Trust combined with Esprit Energy Trust in 2006. At the time, Esprit Energy Trust’s market capitalization was over C$1.0 billion.
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. Caledonian Royalty Corporation currently holds royalty interests (royalties) in the oil and gas production of twelve Canadian energy companies.
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