cloud713 Posted February 14, 2014 Share Posted February 14, 2014 Occidental Petroleum Company is moving their HQ from LA to Houston..http://www.bizjournals.com/houston/news/2014/02/14/occidental-petroleum-splintering-and-moving-its.html Link to comment Share on other sites More sharing options...
nativehoustonion Posted February 14, 2014 Share Posted February 14, 2014 I had a gut feeling on this one. Wow! Link to comment Share on other sites More sharing options...
Houston19514 Posted February 14, 2014 Share Posted February 14, 2014 Great news! But, AAARRGGGHHH, why does this city have no competent business reporters? To clarify what is happening, Occidental Petroleum is indeed splitting itself into two companies. It is not an "overall headquarters" that is moving to Houston. There is no "overall headquarters" of two independent companies. Each independent company will have its own headquarters. The California operations are being separated into a new, independent, separately traded company, that will be headquartered in California. The rest of the operations will remain in Occidental Petroleum Corporation, whose headquarters will be relocated to Houston. More good news: This will be an additional Fortune 500 headquarters for Houston. The down-sized Occidental should still have revenues of about $20 Billion. That would rank it in the mid-100s on the Fortune 500. Who is next? Exxon or Chevron? ;-) Link to comment Share on other sites More sharing options...
Howard Huge Posted February 14, 2014 Share Posted February 14, 2014 Chevron.You dont buy multi - million dollar downtown real estate like you're playing monopoly unless you're planning something BIG. Link to comment Share on other sites More sharing options...
cloud713 Posted February 14, 2014 Author Share Posted February 14, 2014 i say Exxon before Chevron, (supposably Exxon is moving their HQ into Hughes Landing if that one article is to be believed) but both should eventually end up here.. Link to comment Share on other sites More sharing options...
cloud713 Posted February 14, 2014 Author Share Posted February 14, 2014 You dont buy multi - million dollar downtown real estate like you're playing monopoly unless you're planning something BIG.agreed, but i assume those 4th and potentially 5th towers would come after they built tower 3. Exxon has invested over a billion in its campus in Spring, and was in the ground way before Chevron (who still isnt even in the ground as they are delaying many of their projects).. the Exxon employee consolidation in Houston will be completed over the next year, so thats why i see them being the ones likely to move first. but like i just said, i see both of them eventually relocating HQ here. Link to comment Share on other sites More sharing options...
livincinco Posted February 14, 2014 Share Posted February 14, 2014 My prediction of the next several pages on this thread. 1. Unsubstantiated rumors that Occidental is building downtown 2. Irrational exuberance over the unsubstantiated rumors that Occidental is building a signature tower downtown. 3. Rumor that Occidental is building in The Woodlands/Energy Corridor. 4. Denial 5. Confirmation that Occidental is building a boring mid-rise in The Woodlands/Energy Corridor. 6. Crushing despair/extensive wringing of hands. 7. Immediate move to discussion of unsubstantiated rumors that Chevron is relocating corporate headquarters to downtown and is building a signature tower in addition to previously announced plans. Link to comment Share on other sites More sharing options...
cloud713 Posted February 14, 2014 Author Share Posted February 14, 2014 lmfao.. too true.on the real though, Occidental has space in Greenway 3 and 5, and they just extended their lease in those buildings last year.. is it possible they could/would need an additional tower in Greenway? Link to comment Share on other sites More sharing options...
DrLan34 Posted February 15, 2014 Share Posted February 15, 2014 - Link to comment Share on other sites More sharing options...
LTAWACS Posted February 15, 2014 Share Posted February 15, 2014 i say Exxon before Chevron, (supposably Exxon is moving their HQ into Hughes Landing if that one article is to be believed) but both should eventually end up here..I wouldn't consider the wood lands "here". It is quite removed from the city. Link to comment Share on other sites More sharing options...
swtsig Posted February 15, 2014 Share Posted February 15, 2014 I had a gut feeling on this one. Wow!Been rumored for ages. I knew it was real when a client of mine who in turn has occidental as one of his major clients told me last summer he was helping a senior occi vp house hunting bc of the impending hq move. Link to comment Share on other sites More sharing options...
livincinco Posted February 15, 2014 Share Posted February 15, 2014 I wouldn't consider the wood lands "here". It is quite removed from the city.You mean as in not part of the "Houston-The Woodlands-Sugarland" metropolitan area? Link to comment Share on other sites More sharing options...
LTAWACS Posted February 16, 2014 Share Posted February 16, 2014 Are there any major Chinese oil and gas companies with a major presence in Houston? Link to comment Share on other sites More sharing options...
livincinco Posted March 5, 2014 Share Posted March 5, 2014 Joel Kotkin writing about all the energy companies moving to Houston. http://www.newgeography.com/content/004199-energy-running-out-california Link to comment Share on other sites More sharing options...
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