# OKCpedia > Businesses & Employers >  Enable Midstream Partners

## Pete

Have it on good authority there will be an announcement later today that CenterPoint MLP will be moving "a couple hundred" jobs from Houston to OKC.

Since CenterPoint MLP has more than two hundred jobs in Houston, this does not necessarily mean the Enogex/CenterPoint entity (rumored to be named Enable Midstream Partners) will be headquartered in Oklahoma City.


Couple of likely scenarios:

1. OKC will be the Enable HQ with some employees staying in Houston, at least for the time being
2. Houston will be the Enable HQ with OKC being a division/branch/field office

Based on everything we've heard to date, seems like scenario #1 is far more likely, although the announcement today might not completely clear this up.

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## Pete

Do not know if this will directly impact the proposed Stage Center Tower, but that seems very likely, although again, that specific tie-in might not be part of this announcement.

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## catch22

Good news.

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## Oh GAWD the Smell!

Now, if I can only get my wife a job there...I'll be on Easy Street.

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## Praedura

Whoa! This is awesome!

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## Pete

To put things into perspective:

*Company*
*Market Cap*
*# of Employees*

Devon Energy
$22 B
3,100

Access Midstream (CHK)
$7.9 B
1,200

Enogex/CenterPoint MLP
$11 B
1,500 (approx.)

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## Pete

Announcement may be coming soon...  As in the next hour or two.

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## Praedura

*ANY TIME*  I hear that jobs are moving from Houston to OKC, my heart leaps with joy!

 :Dance: 

Not that this happens often. In fact, hardly ever. Last time I recall was Devon employees being moved to OKC a few months ago.

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## Anonymous.

Here is a video centerpoint uploaded last night:

Midstream Partnership Name Announcement - YouTube

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## Pete

Yep, that confirms what we had discussed yesterday:

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## SoonerDave

Would have to think some Houston-area media would be picking up on this pretty soon.

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## Geographer

They may have taken James Harden from us...but we are taking their JOBS!

Advantage OKC.

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## Teo9969

That's a seriously well.put together video for what is really a relatively mundane announcement. If that is any indication to what type of company this will be, then I really hope OKC lands it.

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## HangryHippo

I really, really hope they decide to locate their HQ here in OKC.

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## s00nr1

Sure seems like the focus of that video was mainly on OGE/Enogex employees.....a potential sign?  :Smile:

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## OklahomaNick

Someone (I think Sid) posted sometime back about a CenterPoint Earnings Conference Call on August 1. 
Wonder if that is related.

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## ElectricYogi

I work for OG&E and have on good authority that there will not be an announcement about jobs moving to OKC. Sorry to disappoint.

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## Anonymous.

1 post... Not sure if this makes it more legit or more troll...

EDIT: How did you find this thread? Or are you a normal poster and are using throwaway account?

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## Pete

> I work for OG&E and have on good authority that there will not be an announcement about jobs moving to OKC. Sorry to disappoint.


Thanks.

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## Pete

> 1 post... Not sure if this makes it more legit or more troll...


This person is not a troll -- trust me.

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## s00nr1

Pete > ElectricYogi




> 1 post... Not sure if this makes it more legit or more troll...
> 
> EDIT: How did you find this thread? Or are you a normal poster and are using throwaway account?

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## Praedura

> Here is a video centerpoint uploaded last night:
> 
> Midstream Partnership Name Announcement - YouTube


Yep, a rumor no more. That's the official name.

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## bchris02

The way I look at it on the MLP HQ, is to hope for the best but prepare for the worst. I won't be surprised if the HQ ends up in OKC but I also wouldn't be surprised if it ends up in Houston. It's pretty much a wait and see game at this point.

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## HangryHippo

So, 1 post from ElectricYogi and the announcement is no more?

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## SoonerDave

This is just an inference on my part, but based on his reply, it sounds to me like Pete knows who ElectricYogi is and trusts their information implicitly. If I'm wrong/reading too much in, my apologies.

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## bchris02

> So, 1 post from ElectricYogi and the announcement is no more?


It looks that way... :/

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## HangryHippo

> This is just an inference on my part, but based on his reply, it sounds to me like Pete knows who ElectricYogi is and trusts their information implicitly. If I'm wrong/reading too much in, my apologies.


That's exactly what I took away from it as well.  Just disappointed that Pete was fairly certain it was coming within the next two hours and then one post and the whole thing is off.  It was weird.

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## Pete

> This is just an inference on my part, but based on his reply, it sounds to me like Pete knows who ElectricYogi is and trusts their information implicitly. If I'm wrong/reading too much in, my apologies.


Yes BUT I also have my initial source completely standing by the information I have provided.

And trust me, it's not possible to have a better source on this.


I suppose it's possible that OG&E is in the dark but highly unlikely but also very, very unlikely my source has it wrong.

If something doesn't come out today or tomorrow then perhaps something came off the rails at the last minute...  But I don't think so.

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## Praedura

> I'm not worried.


Lol... the new catch phrase for this board.

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## SoonerDave

> That's exactly what I took away from it as well.  Just disappointed that Pete was fairly certain it was coming within the next two hours and then one post and the whole thing is off.  It was weird.


Corporate announcements are often treated with greater secrecy than nuclear formulas, and info can be just as fleeting and volatile. Announcements one minute, denials the next. I'm sure Pete wouldn't have posted what he did were he not 99.9% confident of its accuracy. Reminds me (at least in terms of secrecy and denial, not jobs) about a big downtown OKC party they were going to do for the OU football team after the 2000 national title run, and an acquaintance had arrange some VIP seating for me and my son, when all of a sudden, "POOF," it was gone, it was denied there ever was such a bash planned. Story was that OU killed it behind the scenes, but it was never publicly acknowledged. 

Ahh, the world of city, corporate, and business secrets. Gotta love it.

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## SoonerDave

> Yes BUT I also have my initial source completely standing by the information I have provided.
> 
> And trust me, it's not possible to have a better source on this.
> 
> 
> I suppose it's possible that OG&E is in the dark but highly unlikely but also very, very unlikely my source has it wrong.
> 
> If something doesn't come out today or tomorrow then perhaps something came off the rails at the last minute...  But I don't think so.


I trust ya, Pete. You're not one to put red herrings out there  :Smile:

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## Spartan

The individual joined over a year ago. Clearly they've been lurking and PMing Pete information.

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## Anonymous.

> The individual joined over a year ago. Clearly they've been lurking and PMing Pete information.


Yea I didn't look at join date. I agree with you.

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## architect5311

> They may have taken James Harden from us...but we are taking their JOBS!
> 
> Advantage OKC.


About time we took something from them...Not that they took Harden from us, but Houston did take Kerr/McGee(Anadarko) and Conoco/Phillips. Any others?

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## Pete

No official announcement yet but these jobs are coming, I am very sure of that.

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## Praedura

New name for OGE Energy's new midstream partnership? | News OK

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## Thundercitizen

They took Maynor AND Westbrook away from us!
Let's get 'em.

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## Bellaboo

I understand that there will be Enogex jobs relocate from Tulsa also.

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## adaniel

> About time we took something from them...Not that they took Harden from us, but Houston did take Kerr/McGee(Anadarko) and Conoco/Phillips. Any others?


Not so much for OKC, but Houston has been a thorn in Tulsa's side.

Just off the top of my head: Citgo, Texaco & Unocal (now Chevron), Sunoco Pipeline Division,  Amerada Hess, PetroHawk (now BHP Biliton). I have also heard rumors Laredo is divesting all of its OK properties and will likely leave the state (possibly to Dallas) in the next year. 

I am sure there are some I'm missing.

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## BoulderSooner

> New name for OGE Energy's new midstream partnership? | News OK


with a nice little credit to Okctalk.com

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## Bellaboo

> Not so much for OKC, but Houston has been a thorn in Tulsa's side.
> 
> Just off the top of my head: Citgo, Texaco & Unocal (now Chevron), Sunoco Pipeline Division,  Amerada Hess, PetroHawk (now BHP Biliton). I have also heard rumors Laredo is divesting all of its OK properties and will likely leave the state (possibly to Dallas) in the next year. 
> 
> 
> I am sure there are some I'm missing.



Standard Oil upstream R&D  to Exxon/Mobil a long time ago. Noble drilling from Ardmore also.

But didn't SandRidge buy some offshore operator's assests from Houston last year ?

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## soonerguru

> with a nice little credit to Okctalk.com


Credit well deserved! Pete has proven to be a very credible source of information. We appreciate your efforts, Pete, for not only providing a great source of community discussion, but also a great place to find out things happening behind the scenes!

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## Anonymous.

OGE's youtube page just uploaded the same video. If something is coming today, it appears to be soon.

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## Spartan

> To put things into perspective:
> 
> *Company*
> *Market Cap*
> *# of Employees*
> 
> Devon Energy
> $22 B
> 3,100
> ...


What is that number of employees indicative of? At the HQ?

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## Pete

> What is that number of employees indicative of? At the HQ?


Yes.

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## Spartan

Did CHK just shed a ton of jobs?

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## Pete

> Did CHK just shed a ton of jobs?


They spun sold off their midstream assets last year to a new company called Access Midstream Partners, backed largely by the Williams Companies.

They also bought the two Central Park buildings from CHK, where most their employees are located.

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## HangryHippo

> Did CHK just shed a ton of jobs?


What is a ton to you?

But yes, they just had lots of layoffs and more are coming.

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## ElectricYogi

Yes, just uploaded video. Announcement coming soon, but nothing about jobs or corporate HQ. Stay tuned.

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## kevinpate

> What is a ton to you?
> 
> ...


5-14 peeps, depending on whether they resemble me or you

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## Pete

> Yes, just uploaded video. Announcement coming soon, but nothing about jobs or corporate HQ. Stay tuned.


Thanks again.

I know the jobs are coming but perhaps my source confused the timing of that announcement with that of the name.


I'll see if I can find out more.

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## blangtang

> Someone (I think Sid) posted sometime back about a CenterPoint Earnings Conference Call on August 1. 
> Wonder if that is related.


Aug 1, 2013 at 11:30 AM ET conference call

they might give an update

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## Spartan

> Thanks again.
> 
> I know the jobs are coming


to OKC?

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## Pete

> to OKC?


Yes...  But not all the CenterPoint jobs...  Just "a couple hundred" for now.

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## HangryHippo

> 5-14 peeps, depending on whether they resemble me or you


Oh.  Well it was definitely a ton then.

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## s00nr1

Well a couple hundred CnP jobs combined with what Enogex has now is a fairly sizeable number.





> Yes...  But not all the CenterPoint jobs...  Just "a couple hundred" for now.

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## PhiAlpha

They definitely took a page out of CHK, Sandridge, and the OERB's books on creating epic promotional videos.

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## Thundercitizen

So, a couple of hundred now and the rest when the tower is completed?

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## PhiAlpha

In the interest of continuing our practice of trying to make as much as we can out of very little information, I'll offer this...

It's probably a good sign that OG&E and not CenterPoint posted that Enable Midstream video on YouTube...

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## HangryHippo

Pipeline partnership to be called Enable Midstream Partners | News OK

Pretty intriguing nugget of info in this article.

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## warreng88

> Pipeline partnership to be called Enable Midstream Partners | News OK
> 
> Pretty intriguing nugget of info in this article.


You talking about this?

*"Enable will have operations in Oklahoma City and Houston, but its executive management team is expected to be based in Oklahoma City."*

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## HangryHippo

> You talking about this?
> 
> *"Enable will have operations in Oklahoma City and Houston, but its executive management team is expected to be based in Oklahoma City."*


Yeah.  I mean it's still far from being certain, but it's the first I've seen it reported in the paper so I thought it was interesting.

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## SoonerDave

Just saw this, don't know if its new or whatever, but here it is:

CenterPoint Energy, OGE Energy Corp. announce senior operations leadership - WSJ.com

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## BoulderSooner

> Pipeline partnership to be called Enable Midstream Partners | News OK
> 
> Pretty intriguing nugget of info in this article.


2 huge things   

first   "Enable will have operations in Oklahoma City and Houston, but its executive management team is expected to be based in Oklahoma City."

that confirms that in will be headquartered in okc 

and second it seems from the article that not all of Enegex will combine with the new company ..... so it might still exist in some form

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## Anonymous.

The news release on CenterPoint's website is much easier to read than the WSJ site:

CenterPoint Energy, OGE Energy Corp. announce senior operations leadership



This is still rather foggy, but at least we now know majority will reside in OKC.

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## NWOKCGuy

From WSJ article:

The principal offices of the gathering and processing leadership team will be in Oklahoma City and the interstate pipeline's principal offices will be in Houston. The principal office of the executive management team is also expected to be in Oklahoma City.

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## s00nr1

Edit: NW beat me to it.




> The news release on CenterPoint's website is much easier to read than the WSJ site:
> 
> CenterPoint Energy, OGE Energy Corp. announce senior operations leadership
> 
> 
> 
> This is still rather foggy, but at least we now know majority will reside in OKC.

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## PhiAlpha

> 2 huge things   
> 
> first   "Enable will have operations in Oklahoma City and Houston, but its executive management team is expected to be based in Oklahoma City."
> 
> that confirms that in will be headquartered in okc 
> 
> and second it seems from the article that not all of Enegex will combine with the new company ..... so it might still exist in some form


Didn't see anywhere that they won't be completely combined, they are merging so I think Enogex will be going completely into Enable. 

Also, the below statement from the WSJ makes sense as Enogex's primary assets were gathering lines and CenterPoint Midstream's primary focus was interstate transmission. 

"The principal offices of the gathering and processing leadership team will be in Oklahoma City and the interstate pipeline's principal offices will be in Houston. The principal office of the executive management team is also expected to be in Oklahoma City"

Sounds like we got the HQ, what a deal for OKC! Who would've thought a few years ago that we would end up with a Pop-Up $11 Billion company headquartered here?

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## PhiAlpha

Pretty sure executive management means the HQ.

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## BoulderSooner

> Didn't see that they won't be completely combined, they are merging so I think Enogex will be going completely into Enable. 
> 
> Also, the below statement from the WSJ makes sense as Enogex's primary assets were gathering lines and CenterPoint's primary focus was interstate transmission. 
> 
> "The principal offices of the gathering and processing leadership team will be in Oklahoma City and the interstate pipeline's principal offices will be in Houston. The principal office of the executive management team is also expected to be in Oklahoma City"
> 
> Sounds like we got the HQ, what a deal for OKC! Who would've thought a few years ago that we would end up with a Pop-Up $11 Billion company headquartered here?


yep your correct .. i guess i read that wrong ...

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## PhiAlpha

> yep your correct .. i guess i read that wrong ...


That's it, you should probably be banned from the site :Tongue:

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## HangryHippo

> Pretty sure executive management means the HQ.


One would think.  Hopefully someone on the call tomorrow clarifies that little detail.

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## HangryHippo

> From WSJ article:
> 
> The principal offices of the gathering and processing leadership team will be in Oklahoma City and the interstate pipeline's principal offices will be in Houston. The principal office of the executive management team is also expected to be in Oklahoma City.


Is one of these offices substantially larger than the other?

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## Pete

> Pretty sure executive management means the HQ.


Absolutely!  The definition of headquarters is where main part of the executive team is located.


What's less clear is the number of jobs that will be in OKC versus Houston.


Regardless, this is a major victory for Oklahoma City!

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## PhiAlpha

> Is one of these offices substantially larger than the other?


Based on what I know, I would say that it takes more staff to run an office dedicated to Gathering and Processing. Many more complex tangled miles of pipeline involved, the right of way/surface use agreements that go with obtain the rights to lay them, and the maintenance. They are and will continue hooking up to as many new wells as possible, creating new complex ROWs and Surface use issues, more often and over a wide area. An interstate pipeline group likely wouldn't have such personnel heavy activities, but who knows.

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## Pete

Full press release:

CENTERPOINT ENERGY, OGE ENERGY CORP. ANNOUNCE SENIOR OPERATIONS LEADERSHIP
NAME AND LOGO FOR MIDSTREAM PARTNERSHIP REVEALED

HOUSTON, OKLAHOMA CITY, July 31, 2013 - CenterPoint Energy, Inc. (NYSE: CNP) and OGE Energy Corp. (NYSE: OGE) today named the senior operations leadership team of the natural gas midstream partnership that includes CenterPoint Energy’s interstate pipelines and field services businesses and OGE Energy Corp.’s midstream business Enogex LLC. In addition, the companies announced the new name and logo of the partnership, which closed on May 1 and is managed by a general partner whose governance is shared by CenterPoint Energy and OGE on a 50/50 basis.

The new leadership team includes:

Keith Mitchell, 51, Chief Operating Officer. Prior to this position, Mitchell was the president of Enogex and was a member of the Enogex Board of Directors. A 20-year Enogex veteran, he also previously served as the company’s chief operating officer.

Mark Schroeder, 56, General Counsel. Prior to this position, Schroeder was the senior vice president and deputy general counsel of Regulation for CenterPoint Energy and has worked in the company’s Legal department for 10 years. He also worked for El Paso Energy and Enron.

Walter Ferguson, 57, Senior Vice President - Field Operations, Engineering and Construction. Prior to this position, Ferguson was division senior vice president of CenterPoint Energy’s Midstream Field Operations, Engineering and Construction. His career spans 32 years with CenterPoint Energy.

R. Poe Reed, 57, Senior Vice President - Pipeline Commercial Operations. Prior to this position, Reed was the division senior vice president and chief commercial officer for CenterPoint Energy’s Pipelines business since 2011. He spent 31 years of his career with DCP Midstream.

Steve Merrill, 49, Senior Vice President - Gathering and Processing Commercial Operations & Administration. Prior to this position, he was the chief operating officer of Enogex. Merrill also served as vice president of Human Resources at OGE Energy Corp. and chief financial officer of Enogex. Prior to joining Enogex, he was director of U.S. operations for Plains All-American.

David Jewell, 60, Senior Vice President - System Optimization and Daily Commercial Operations. Prior to this position, Jewell was division senior vice president of CenterPoint Energy’s Midstream Capacity Operations Optimization & Gas Systems. Before joining CenterPoint Energy, he worked 31 years in the energy industry, including 15 years with Duke Energy.

Pete Kirsch, 50, Senior Vice President - Environmental Health & Safety and Compliance Services. Kirsch began his career with CenterPoint Energy 23 years ago and was division senior vice president of the company’s Midstream Technical and Compliance Services prior to this position.

Paul Brewer, 54, Senior Vice President - Project Management Office (PMO), including Business Performance Improvement and Supply Chain. Prior to this position, Brewer was the vice president of Operations of Enogex. He joined Enogex in 2008 after having served as vice president of Operations for DCP Midstream.

Tom Levescy, 44, Chief Accounting Officer. Prior to this position, Levescy was the chief accounting officer of Enogex. He joined the company in 2005 as controller. Before joining Enogex, he had more than 10 years of experience in public accounting.

“We are fortunate to have a tremendous amount of talent in the combined organizations,” said David M. McClanahan, president and CEO of CenterPoint Energy. “We are confident the operations management team announced today will provide the leadership necessary to ensure we continue to operate safely, serve our customers and grow our business.”

“This is an important next step towards operating as an integrated and united company,” said Pete Delaney, OGE Energy chairman, president and CEO. “While we continue to work toward completing our leadership team, the focus today is on establishing the senior operations leadership so that we can work toward serving customers, growing the partnership and living up to our Enable Midstream expectations.”

*The principal offices of the gathering and processing leadership team will be in Oklahoma City and the interstate pipeline’s principal offices will be in Houston. The principal office of the executive management team is also expected to be in Oklahoma City.*

In addition to announcing operations leadership, McClanahan and Delaney also revealed that *the partnership’s new name is Enable Midstream Partners™, LP*.  The new company logo, they said, reflects the union of two companies, combining knowledgeable employees and strategically located assets to serve customers in some of the country’s most highly-productive energy regions.



Enable Midstream Partners 

“It is with great pride and excitement that we announce the name for this new company as Enable Midstream Partners,” McClanahan said. “We chose the name Enable Midstream Partners because it captures the rich heritages of CenterPoint and OGE, reinforces our customer focus and reflects the strength of our employee base.”

“Enable Midstream Partners stands for dependability and trust. It emphasizes our ability to compete and enable the success of our customers,” Delaney said. “Our customers say they know us to be problem solving, service-oriented organizations. We intend to leverage those competencies to capture new growth opportunities.”

*Enable Midstream has combined assets of nearly $11 billion in nine states*. It owns and operates 8,400 miles of interstate pipelines with nearly 9 billion cubic feet per day of transport capacity and nearly 2,300 miles of intrastate pipelines. It also has more than 11,000 miles of gathering lines, which in 2012 moved nearly 4 billion cubic feet of natural gas per day. Additionally, it has more than 90 billion cubic feet of natural gas storage capacity and 11 major processing plants with nearly 2 billion cubic feet per day of inlet capacity.

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and competitive natural gas sales and services operations. The company serves more than 5 million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. The company also owns a 58.3 percent limited partner interest in Enable Midstream Partners, a midstream partnership it jointly controls with OGE Energy Corp. with operations in major natural gas and liquids-rich producing areas of Oklahoma, Texas, Arkansas and Louisiana. With more than 8,700 employees, CenterPoint Energy and its predecessor companies have been in business for more than 135 years. For more information, visit the website at CenterPoint Energy.

OGE Energy is the parent company of Oklahoma Gas and Electric Company, a regulated electric utility serving more than 800,000 customers in Oklahoma and western Arkansas. In addition, OGE owns a 28.5 percent limited partner interest in Enable Midstream Partners and holds 50 percent of the general partner interest in Enable Midstream, created by the combination of OGE's Enogex LLC midstream subsidiary and the pipeline and field services businesses of Houston-based CenterPoint Energy. For more information, visit the website at OGE Corporate.

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## Pete

I'm sure they left any detailed information about jobs out of the press release because they don't want to panic the hundreds of employees in Houston & OKC.

For the same reasons, I believe they stopped a bit short of formally saying "OKC will be the new headquarters" although that is clearly the case.  Every company has ONE HQ and that is where the main executive team resides.



I can tell you I am VERY sure a good chunk of jobs are coming to OKC, as I have stated several times in this thread.

We'll just have to wait a little longer to get specifics but remember in situations like this there are various incentives involved and let's just say I know for a fact that process has already formally started.

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## soonerguru

It's interesting that the official press release uses the same phrase: "the executive management team is also expected to be in Oklahoma City." 

Why would they leave room for doubt? Is that a ploy to ensure they get their favored building site?

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## Pete

> It's interesting that the official press release uses the same phrase: "the executive management team is also expected to be in Oklahoma City." 
> 
> Why would they leave room for doubt? Is that a ploy to ensure they get their favored building site?


See my post above yours.

Believe this is all about placating employees and not having anyone from Houston in particular running straight to headhunters.

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## soonerguru

> See my post above yours.
> 
> Believe this is all about placating employees and not having anyone from Houston in particular running start to headhunters.


That makes sense, but why mention it all, then? If you were in Houston and didn't want to move to OKC wouldn't you see the writing on the wall and start running to headhunters?

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## zookeeper

> They definitely took a page out of CHK, Sandridge, and the OERB's books on creating epic promotional videos.


DELETED. Sorry, that wasn't necessary.

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## Pete

The timing of this all is a bit hard to understand but there many moving pieces.

I'm sure these decisions were made before the Stage Center closing and subsequent announcement about the new tower.  Not sure why that closing came before this announcement but you can bet there were good reasons.

Remember, Enable has an ambitious schedule to go public by the end of the year and therefore has to get their ducks in a row ASAP.  They still haven't named a CEO and there are other decisions yet to be announced, like the staffing in both OKC & Houston.

So of the timing of these events may be deliberate but some may have been forced due to the all various factors at play.


Also remember, the new tower won't be open for business for at least two and probably three years.  So, there is a good chance that even if there was a huge chunk of people to be relocated to Houston, that might not be even possible at this point, due to lack of space.  Where on earth would they be housed?


This is actually a bigger picture problem for OKC.  We have almost zero Class A office space of any size and that will continue to be a detriment to attracting businesses.

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## cagoklahoma

It couldn't hold hundreds, but the Braniff building could definately hold quite a few. Not to mention, the insides are nearly complete, and the timing seems to work out. Combined with the Enogex offices at Leadership Square, could be a good temporary home.

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## Pete

BTW, there is a clear pattern emerging for how big business and real estate information is starting to flow through Oklahoma City:

1. Advanced information comes to us from multiple sources
2. Information starts to coalesce
3. We hear of a press release one day to one week in advance
4. There is an official press release
5. The Oklahoman and JR interview the parties involved and get more information


So, it will be interesting to see what comes out in step #5, then the cycle will repeat many times as a particular story unfolds.

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## Pete

> It couldn't hold hundreds, but the Braniff building could definately hold quite a few. Not to mention, the insides are nearly complete, and the timing seems to work out. Combined with the Enogex offices at Leadership Square, could be a good temporary home.


Good point!

Might also be why the Braniff Building has held off making any leasing announcements (other than retail).

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## dankrutka

> It couldn't hold hundreds, but the Braniff building could definately hold quite a few. Not to mention, the insides are nearly complete, and the timing seems to work out. Combined with the Enogex offices at Leadership Square, could be a good temporary home.


Exactly what I was thinking. The Braniff Building and then also the new Sandridge "amenities" building might do the job until the tower is ready.

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## Bellaboo

Hopefully the Braniff will help out some.....

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## Dustin

Awesome news!  

So we can bet on the Stage Center Tower to be quite a bit higher than was first announced?

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## warreng88

I remember Steve saying this project has a lot of moving parts and this must be what he was talking about.

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## adaniel

I thought Crow and Dunleavy was looking at space in Braniff?

Just throwing this out there, I heard this whole Centerpoint/Enogex thing was behind the purchase of the old IRS building. I know, I can only cite my "sources" and nothing else but its a little more fuel on the fire.

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## Pete

> I thought Crow and Dunleavy was looking at space in Braniff?


They have some time before they have to move and that may fit in with the schedule for the Parkside Building (old SandRidge Amenities building).

For that matter, maybe Rick Dowell will FINALLY do something with his building.

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## UnFrSaKn

On their Twitter they name it "Oklahoma City/Houston".

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## Pete

Nothing new here...  Hoping the Oklahoman crew is busy with interviews that will lead to additional information:

Pipeline partnership to be called Enable Midstream Partners | News OK

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## jn1780

> The timing of this all is a bit hard to understand but there many moving pieces.
> 
> I'm sure these decisions were made before the Stage Center closing and subsequent announcement about the new tower.  Not sure why that closing came before this announcement but you can bet there were good reasons.
> 
> Remember, Enable has an ambitious schedule to go public by the end of the year and therefore has to get their ducks in a row ASAP.  They still haven't named a CEO and there are other decisions yet to be announced, like the staffing in both OKC & Houston.
> 
> So of the timing of these events may be deliberate but some may have been forced due to the all various factors at play.
> 
> 
> ...


That's exactly what I was thinking. I'm sure their in beginning stages of figuring out how many people will be in OKC, how many will stay in Texas, and what buildings they will be housed. We don't even know if they have approached Sandridge yet about Braniff building.

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## Pete

Jay F. Marks ‏@OKenergybeat 41m
Scratch @EnableMidstream from list of potential #mysterytower anchors. Spox says firm inherits Enogex's long-term lease at Leadership Square.


BTW, "spox" is shorthand for spokesperson.

1. Exactly how long is this lease?  Five years is typical (with options by the lessee) and they started last year.
2. You can always, always buy your way out of a lease, especially when the building is sure it can quickly lease out the space

----------


## Bellaboo

> Jay F. Marks ‏@OKenergybeat 41m
> Scratch @EnableMidstream from list of potential #mysterytower anchors. Spox says firm inherits Enogex's long-term lease at Leadership Square.
> 
> 
> BTW, "spox" is shorthand for spokesperson.
> 
> 1. Exactly how long is this lease?  Five years is typical (with options by the lessee) and they started last year.
> 2. You can always, always buy your way out of a lease, especially when the building is sure it can quickly lease out the space



Could sublease to any other firm too.   Sounds like JFM is jumping the gun on that info.

----------


## Pete

I think I can now reconcile all the information I have been receiving around this topic.

There IS a new job piece to this that just wasn't announced with the other news.

That will come later but I can tell you it involves over 100 new jobs and that likely does not include relocations.

----------


## G.Walker

I am starting to sense this is not going to turn  out as we once hoped..only a couple hundred jobs, no big relocation, no major tower, oh well, there is always still Devon, right?

----------


## HangryHippo

> I am starting to sense this is not going to turn  out as we once hoped..only a couple hundred jobs, no big relocation, no major tower, oh well, there is always still Devon, right?


Wasn't Pete's most recent post in addition to what we were hearing or am I way off base and its actually in place of what we thought we knew?

----------


## db411

> 1. Exactly how long is this lease?  Five years is typical (with options by the lessee) and they started last year.


From page 77 of the annual report (http://media.corporate-ir.net/media_...OGE_2012AR.pdf)
*Enogex Noncancellable Operating Leases*
Enogex currently occupies 134,219 square feet of office space at its
executive offices under a lease that expires March 31, 2017. The lease
payments are $11.3 million over the lease term which began April 1,
2012. This lease has rent escalations which increase after five and 
10 years if the lease is renewed.




> I think I can now reconcile all the information I have been receiving around this topic.
> There IS a new job piece to this that just wasn't announced with the other news.
> That will come later but I can tell you it involves over 100 new jobs and that likely does not include relocations.


it sort of was if you read between the lines...  :Smile: 



> Project Management Office (PMO), including Business Performance Improvement and *Supply Chain*


Not all would fall under PMO but OGE (and I would suspect CenterPoint Energy) handled most of the IT, supply chain, and parts of HR admin functions for their midstream companies and Enable may not want to continue the contracts with its two parents - if it even can - long term. Most other energy companies do/did the same for their midstream subsidiary (DVN, CHK). Think of it this way - all of the job postings for the midstream companies have come from their respective corporate parents who also report the balance sheets/SEC filings, software/hardware provisioning, motor pool maintenance, HR benefit administration...  Granted the new support roles would be somewhat divided between the two main offices and some to the field locations, the balance going to the corp office, but it would involve new jobs beyond moving existing personnel between offices.

----------


## Bellaboo

> I am starting to sense this is not going to turn  out as we once hoped..only a couple hundred jobs, no big relocation, no major tower, oh well, there is always still Devon, right?


Are you kidding me ?  If this is the HQ, it's BIG. Everything points to this being the HQ. I have a feeling this tower will be not just tall but first class. Just sit back and give it a chance. I also know that 'other' Enogex employees from around the state (Tulsa in particular) are expected to relocate to OKC. I'd be surprised if they have less than 1,000 employees when all is said and done. Have a little patience and lets watch this play out.....

----------


## Dustin

> I am starting to sense this is not going to turn  out as we once hoped..only a couple hundred jobs, no big relocation, no major tower, oh well, there is always still Devon, right?


_rolls eyes_

----------


## Pete

> I am starting to sense this is not going to turn  out as we once hoped..only a couple hundred jobs, no big relocation, no major tower, oh well, there is always still Devon, right?


Absolutely no reason to draw those conclusions.

We are getting the corporate HQ for this massive merged entity and a good chunk of new jobs.

The exact number of jobs and how this may impact the Stage Center Tower and other downtown construction remains to be seen but there is a lot more reason to be optimistic than pessimistic.

----------


## G.Walker

> Absolutely no reason to draw those conclusions.
> 
> We are getting the corporate HQ for this massive merged entity and a good chunk of new jobs.
> 
> The exact number of jobs and how this may impact the Stage Center Tower and other downtown construction remains to be seen but there is a lot more reason to be optimistic than pessimistic.


I hope so, I want to be as optimistic as the next person, but I don't want to get my hopes too high. Under promise , over deliver, then we are all happy!

----------


## Pete

Regarding Enogex and their lease at Leadership Square...

Remember that Mark Beffort is the principal owner/broker for LS and he is also the one the brokered the sale of the Stage Center to Rainey Williams.

I know for a fact that Enogex/CenterPoint are considering moving into the Stage Center Tower so you know that had to come up way before Williams closed on the sale.

Would have been very easy to engage Beffort in a lease buyout or sublease discussion in an effort to line up an anchor tenant before going forward with this project.


I simply don't believe a lease at Leadership Square is going to stand in the way of Enable moving into a new HQ.

----------


## Pete

> I hope so, I want to be as optimistic as the next person, but I don't want to get my hopes too high. Under promise , over deliver, then we are all happy!


Here is what I think is going to happen at minimum:

1. First class, Class A office tower of at least 30 stories (making it taller than Chase Tower) erected on Stage Center site with construction starting in 2014
2. Enable Midstream Partners is headquartered in downtown OKC
3. Enable will keep the 350+ Enogex jobs downtown, along with at least two hundred new positions
4. At least one more office tower of 30 floors will be announced within the next 12 months


I actually think every one of those will be exceeded and maybe even by a large measure...  And I would be very surprised if any didn't at least meet those projections.

----------


## catch22

They are saying that to ease investors while they get organized and nail down operational and financial tasks. It would look foolish and reak of poor managemt to announce a brand new 400+ million dollar corporate headquarters for an entity that is not even fully merged, realized, or even really exists. This new company is in it's infancy stage and would look bad to announce a headquarters for what essentially is a paper "airplane".

----------


## mugofbeer

> They are saying that to ease investors while they get organized and nail down operational and financial tasks. It would look foolish and reak of poor managemt to announce a brand new 400+ million dollar corporate headquarters for an entity that is not even fully merged, realized, or even really exists. This new company is in it's infancy stage and would look bad to announce a headquarters for what essentially is a paper "airplane".


I agree with this.  With an upcoming IPO and all of the other tasks they have ahead of them, I could see specific building details announcement as far off as mid- to end-of next year, construction starting in 2015 with completion in 2017 - just in time for the Leadership Square lease to be completed.

----------


## mcca7596

> I agree with this.  With an upcoming IPO and all of the other tasks they have ahead of them, I could see specific building details announcement as far off as mid- to end-of next year, construction starting in 2015 with completion in 2017 - just in time for the Leadership Square lease to be completed.


Mr. Williams said he would provide more info about tenants within the next 90 days. I think there would be a specific building announcement before next year.

----------


## Pete

I think all Williams is waiting for is Enable to sort through and announce all their major decisions.

Remember, Enable doesn't even have a CEO yet.

----------


## mugofbeer

> Mr. Williams said he would provide more info about tenants within the next 90 days. I think there would be a specific building announcement before next year.


That still sounds about right.  Even if they announced that Enable was to occupy the building, until there was a general idea of what portion of the company would be in OKC, I could see them keeping the building specs quiet until after an IPO and into next year.

< They also have to keep up with the Devon's and have a boathouse announcement for the river!!  LOL >

----------


## dankrutka

> I am starting to sense this is not going to turn  out as we once hoped..only a couple hundred jobs, no big relocation, no major tower, oh well, there is always still Devon, right?


You're an emotional roller coaster when it comes to tower(s).

----------


## bchris02

> I am starting to sense this is not going to turn  out as we once hoped..only a couple hundred jobs, no big relocation, no major tower, oh well, there is always still Devon, right?


Even a worst case scenario - that is HQ in Houston and a couple hundred jobs in OKC, that is better than nothing.  I will be pretty disappointed if it turns out that way but that is still better than nothing.  You can't forget the GE research center - that is a huge deal.

----------


## mdeand

A Leadership Square lease isn't going to stand in the way of a move to a new tower.  I was a Leadership Square tenant for 24 years.  During most of that time, including after the oil bust of the 80s, the building was more than 90 percent occupied.  Same was true immediately before Enogex moved in (previous tenants were non-renewed to allow for a multi-floor lease to Enogex).  With the shortage of Class A office space downtown now, Leadership would have no difficulty leasing the space vacated by Enogex.

----------


## dcsooner

> Here is what I think is going to happen at minimum:
> 
> 1. First class, Class A office tower of at least 30 stories (making it taller than Chase Tower) erected on Stage Center site with construction starting in 2014
> 2. Enable Midstream Partners is headquartered in downtown OKC
> 3. Enable will keep the 350+ Enogex jobs downtown, along with at least two hundred new positions
> 4. At least one more office tower of 30 floors will be announced within the next 12 months
> 
> 
> I actually think every one of those will be exceeded and maybe even by a large measure...  And I would be very surprised if any didn't at least meet those projections.


Pete, you are obviously in the loop on all the potential happenings, but, what a massive letdown to all of us who really hope you are right, if you are wrong? It would cause me to respond to future big announcements "with skepticism" way beyond what I already have about this.

----------


## PhiAlpha

> Pete, you are obviously in the loop on all the potential happenings, but, what a massive letdown to all of us who really hope you are right, if you are wrong? It would cause me to respond to future big announcements "with skepticism" way beyond what I already have about this.


This is a message board, not a newspaper. Its here so that we can post any information we can find from any sources we may have, and give this online community a leg up on information that isn't yet concrete enough or approved to go public  in a Newspaper. If Pete of all people isn't allowed to make an educated projection based on information from one or more "very good" sources, then what is the point of OKCTalk's existence? If you can't handle the potential disappointment of plans changing before they go public, you might want to stick to the newspaper. 

Plans aren't made public at least partially because they aren't yet set in stone and are subject to change. Sometimes even public plans change. I've had several friends near making big real estate deals in Bricktown, etc that looked as good as completed but the next morning, something comes up and the seller is no longer interested. Stuff happens. At any rate, this site has a very solid track record of predicting/being in the know about projects before they are made public.

----------


## dcsooner

> This is a message board, not a newspaper. Its here so that we can post any information we can find from any sources we may have, and give this online community a leg up on information that isn't yet concrete enough or approved to go public  in a Newspaper. If Pete of all people isn't allowed to make an educated projection based on information from one or more "very good" sources, then what is the point of OKCTalk's existence? If you can't handle the potential disappointment of plans changing before they go public, you might want to stick to the newspaper. 
> 
> Plans aren't made public at least partially because they aren't yet set in stone and are subject to change. Sometimes even public plans change. I've had several friends near making big real estate deals in Bricktown, etc that looked as good as completed but the next morning, something comes up and the seller is no longer interested. Stuff happens. At any rate, this site has a very solid track record of predicting/being in the know about projects before they are made public.


All of what you said is TRUE, BUT it does not change the fact that if any announcement related to this joint venture falls way short of our expectations that have been whetted over months, it would be a HUGE disappointment.  That is really all that I am saying, nothing more. to say it would not be a huge disappointment because it has been discussed on a talk board is just silly (imho).

----------


## Pete

> All of what you said is TRUE, BUT it does not change the fact that if any announcement related to this joint venture falls way short of our expectations that have been whetted over months, it would be a HUGE disappointment.  That is really all that I am saying, nothing more. to say it would not be a huge disappointment because it has been discussed on a talk board is just silly (imho).


The only way it would fall "way short" of your expectations is if you haven't been listening to what I've been saying.

Expect the minimum that I posted earlier; it's as close to a lead-pipe cinch as you are going to get for things that haven't completely happened yet.

----------


## dcsooner

> The only way it would fall "way short" of your expectations is if you haven't been listening to what I've been saying.
> 
> Expect the minimum that I posted earlier; it's as close to a lead-pipe cinch as you are going to get for things that haven't completely happened yet.


Pete,
  Standing by for great news :Smile:

----------


## Pete

> Pete,
>   Standing by for great news


There was great news yesterday:  Enable to be HQ'd in OKC and new jobs are coming.

Last week:  New office tower to be built on Stage Center site.



Information will continue to flow on this story in a stream.  If you only want to know the ending, your only choice is to wait a few years.

----------


## ABryant

I think even if everything that is speculated does not come to fruition there should be no disappointment. The once dead urban core is thriving, and we are reestablishing our identity as people who live in a community. In 2004 I was working out of state, and a coworker from a larger city commented that he heard good things about OKC. I was shocked and just laughed at him. It has happened more and more since then, and now just tell people that it is an allright place to be.

----------


## Spartan

> I think even if everything that is speculated does not come to fruition there should be no disappointment. The once dead urban core is thriving, and we are reestablishing our identity as people who live in a community. In 2004 I was working out of state, and a coworker from a larger city commented that he heard good things about OKC. I was shocked and just laughed at him. It has happened more and more since then, and now just tell people that it is an allright place to be.


You should tell them that it's a GREAT place to be...

----------


## bombermwc

Even if this one particular company doesn't build some big tower, what they would be doing is filling up that empty office space downtown, driving the occpuancy rate up. The more "occupied" downtown is, the more there is a need for a new development of office space.....ie a tower  :Smile:

----------


## Spartan

> Even if this one particular company doesn't build some big tower, what they would be doing is filling up that empty office space downtown, driving the occpuancy rate up. The more "occupied" downtown is, the more there is a need for a new development of office space.....ie a tower


What empty office space downtown? Once again bomber, what planet are you living on?

----------


## SoonerDave

I'm no business expert, but seems to me that things are moving very quickly for a new company, particularly one that is (apparently?) still looking toward an IPO. I remember working many years ago for a well-established, successful private company with proven business leadership that was planning to go public, but the ol saying of "the devil is in the details" was never more true than for them. It took them a couple of years for that to happen, and by then I had left the company for other unrelated reasons. The point is that, from my little uneducated corner of the world, this stuff is moving _very_ fast in terms of "corporate" speed. 

I have every reason to believe what Pete is offering is 100% reliable. Sometimes, companies want to keep that kind of info close to the vest. And, sometimes, they like to let at least a bit out just to get the public interest going. That may or may not be the case here, but I refuse to think Pete would post any information here capriciously.

----------


## modernism

> What empty office space downtown? Once again bomber, what planet are you living on?


Exactly, here is what I think is going to happen. OG&E will sign as the anchor tenant for the new Stage Center Tower, which will provide enough incentive for Rainey Williams to pull the trigger on a 25-30 story tower. Moreover, there will probably be an agreement in place for Enable Midstream Partners to also move in this new tower after its completed. The Enogex lease in Leadership Square is up in March of 2017, this puts it in direct correspondence in completion with Stage Center Tower. If Rainey Williams starts tower late 2014 early 2015, more than likely it will be completed in the first quarter of 2017. The problem is that this is not a true spec tower, so when this tower is built, we will still have a backlog of businesses deterring away from downtown due to lack of Class A Office space. More to this problem is that developers in Quail Springs will see this, and start developing 50,000 to 60,000sqft spec Class A office buildings hence luring more companies to that area vs. the downtown core.  We need a another developer to build a true spec tower.

----------


## PhiAlpha

> All of what you said is TRUE, BUT it does not change the fact that if any announcement related to this joint venture falls way short of our expectations that have been whetted over months, it would be a HUGE disappointment.  That is really all that I am saying, nothing more. to say it would not be a huge disappointment because it has been discussed on a talk board is just silly (imho).


When did I say it wouldn't be a disappointment? I said if you can't handle the potential disappointment, you should stick to the newspaper. Your post insinuated that Pete shouldn't post information from solid sources because it might disappoint people and hurt is credibility if all of it doesn't come to fruition. THAT is just silly.

----------


## Spartan

> Exactly, here is what I think is going to happen. OG&E will sign as the anchor tenant for the new Stage Center Tower, which will provide enough incentive for Rainey Williams to pull the trigger on a 25-30 story tower. Moreover, there will probably be an agreement in place for Enable Midstream Partners to also move in this new tower after its completed. The Enogex lease in Leadership Square is up in March of 2017, this puts it in direct correspondence in completion with Stage Center Tower. If Rainey Williams starts tower late 2014 early 2015, more than likely it will be completed in the first quarter of 2017. The problem is that this is not a true spec tower, so when this tower is built, we will still have a backlog of businesses deterring away from downtown due to lack of Class A Office space. More to this problem is that developers in Quail Springs will see this, and start developing 50,000 to 60,000sqft spec Class A office buildings hence luring more companies to that area vs. the downtown core.  We need a another developer to build a true spect tower.


You're absolutely, 100% spot-on. The hold-out for hope that I have that downtown will beat out Quail Springs for office development is that the CHK fallout affects the north sub-market, and has no bearing at all on downtown. Different office market.

----------


## Spartan

> When did I say it wouldn't be a disappointment? I said *if you can't handle the potential disappointment, you should stick to the newspaper.* Your post insinuated that Pete shouldn't post information from solid sources because it might disappoint people and hurt is credibility if all of it doesn't come to fruition. THAT is just silly.


Yeah, this. Pete is on to a lot, but these kind of smoking gun scoops are so extremely day-to-day in the real estate world.

----------


## SoonerDave

Kind of a side-tangent here, but I know the old Western Electric plant has been somewhat rehabbed as (at least in part) a general office space - at least the upper two floors were last I checked - and I think it was being marketed as an office lease facility. Would seem a better choice for "temporary" office housing than going all the way to the QSM area, wouldn't it?

----------


## Teo9969

> I'm no business expert, but seems to me that things are moving very quickly for a new company, particularly one that is (apparently?) still looking toward an IPO. I remember working many years ago for a well-established, successful private company with proven business leadership that was planning to go public, but the ol saying of "the devil is in the details" was never more true than for them. It took them a couple of years for that to happen, and by then I had left the company for other unrelated reasons. The point is that, from my little uneducated corner of the world, this stuff is moving _very_ fast in terms of "corporate" speed. 
> 
> I have every reason to believe what Pete is offering is 100% reliable. Sometimes, companies want to keep that kind of info close to the vest. And, sometimes, they like to let at least a bit out just to get the public interest going. That may or may not be the case here, but I refuse to think Pete would post any information here capriciously.


I don't think things are moving as quickly as you think they are. This deal didn't start in 2013. This deal probably started in late 2011, and it's a deal between 2 companies that have been around the block and will be able to figure things out quickly.

Also, I've stated this before, but ACMP was part of this process early on, so things have been going on for quite awhile, with names that I imagine no one knows about.

----------


## OKCTalker

> All of what you said is TRUE, BUT it does not change the fact that if any announcement related to this joint venture falls way short of our expectations that have been whetted over months, it would be a HUGE disappointment.  That is really all that I am saying, nothing more. to say it would not be a huge disappointment because it has been discussed on a talk board is just silly (imho).


A disappointment having a new corporate headquarters with 1,000+ senior-level employees, and 20+ floors of new Class A office space!? Sorry we're not living up to your expectations.

----------


## bhawes

With the new jobs coming to OKC and jobs that pay close to $100,000 or over, this will improve the image of the city and attract more jobs, shopping and resturants to the area.

----------


## Spartan

> With the new jobs coming to OKC and jobs that pay close to $100,000 or over, this will improve the image of the city and attract more jobs, shopping and resturants to the area.


This is a major jumping to conclusions, as much as I am excited myself.

----------


## okc_bel_air

Kinda agree with Spartan on this one.  Maybe I missed something but where does it say exactly that we are getting 1000+ senior level employees and that their salaries will be over 100k.

I like that we are getting jobs and the possible HQ, but until they actually say how many jobs will be moved/created then I will sit back and wait.

My neighbor works for Enogex and has not heard anything about employee numbers yet.

----------


## Pete

I think OKCTalker meant to type 100+ jobs at around $100K per year; and that would be completely accurate.



Also, the Enable Facebook page that we were tracking is now live and legit:

https://www.facebook.com/pages/Enabl...04004423008223


Interestingly, it's being managed by Smirk New Media, which is based in Oklahoma City (1007 N. Broadway).  They also handle OG&E:

Our Clients | Smirk New Media


The FB page still shows Leadership Square as the location for Enable.

----------


## Shake2005

> OGE Energy spokesman Brian Alford said creation of the new firm was not meant to centralize operations or move teams around.
> Enable has personnel in Oklahoma City, Houston, Tulsa and Shreveport, La.
> 
> We do not expect that to change, Alford said. Any relocations should be minimal.
> 
> Alford also said he expects Enable's Oklahoma City offices to remain at Leadership Square, where Enogex has a long-term lease in place.


Pipeline partnership to be called Enable Midstream Partners | News OK

----------


## Pete

^

Typical corporate PR.

I know for a fact they are already offering incentives for employees more than 90 miles from OKC (i.e., Tulsa) to move to Oklahoma City.

I also know they will be creating more than 100 new jobs in OKC.

----------


## OU Adonis

So what would be the total headcount in a new tower?

----------


## Pete

Enogex currently has about 350 employees in OKC.

So, at least 100 more but I bet that number will grow substantially.

----------


## Teo9969

I.would also not be surprised if they are "promoting internally" employees from Oberlin cities but requiring them to move to OKC and then filling the position vacated by the promotion in OKC as well.

----------


## Praedura

Instead of continually extending this announcement thread, perhaps it would be better to start a new one.

Similar to how we have threads for Chesapeake Business Practices and Devon Business Practices (and Continental) where corporate info and activity can be tracked and commented on, we could have one for Enable Midstream Partners as well.

----------


## OU Adonis

> Enogex currently has about 350 employees in OKC.
> 
> So, at least 100 more but I bet that number will grow substantially.



It just seems like the head count would be low if you compare it to Devon.   Like significantly lower.  So why the pressing need for a large tower?

----------


## Spartan

I think this is that thread already.

----------


## Pete

> It just seems like the head count would be low if you compare it to Devon.   Like significantly lower.  So why the pressing need for a large tower?


Because the numbers that are semi-public (somewhere around 500) are probably low; the Enable will have at least 1,500 employees and it could end up being the large majority will be based in OKC.  Plus, they plan on an IPO and rapid growth.

And, the tower may also involve OG&E and/or other tenants.

----------


## HangryHippo

> Because the numbers that are semi-public (somewhere around 500) are probably low; the Enable will have at least 1,500 employees and it could end up being the large majority will be based in OKC.  Plus, they plan on an IPO and rapid growth.
> 
> And, the tower may also involve OG&E and/or other tenants.


I thought we had already established that the large majority are going to be located here...?

----------


## Pete

> I thought we had already established that the large majority are going to be located here...?


No.

Here is what has been established:
350 existing Enogex employees will stay.Some other amount (perhaps 50 or so) will be consolidated from around the state.100+ jobs will be newly created.

Beyond that, we simply don't know but it certainly makes sense to consolidate most the jobs to the company's HQ, which will be Oklahoma City.

----------


## OU Adonis

I was just trying to do the math on the SC tower based off of what I know from Devon.

Devon's tower is 1.8M square feet and houses 3k employees.  

(Taken from The Devon Tower - Information on Oklahoma City's Downtown Devon Energy Center Skyscraper and the Top Floor Vast Restaurant)

So at 600 SF an employee that would be 900k square feet for 1.5k employees, or a conservative 360K square feet for 600 employees.

----------


## Pete

Typically, the floor size of a mid- to high-rise building averages about 20,000 square feet (some bigger, some smaller).

So, a 50 story building would have about 1,000,000 square feet.

Also remember, like Devon the Stage Center Tower is to have restaurant/retail space.

Let's say Enable plans to have 1,000 employees in OKC by the time a tower would open, which would be about 3 years from now.  They would need at least 25 floors to accommodate them (1,000 employees x 500 sf per employee divided by 20,000 sf per floor), and that's not including future growth or other tenants.

I doubt this will be a single-tenant building.

----------


## Plutonic Panda

> Pete,
>   Standing by for great news


Just out of curiosity, what is your idea of "great news"?

----------


## blangtang

transcript from the conference call

CenterPoint Energy, Inc. (CNP): CenterPoint Energy Management Discusses Q2 2013 Results - Earnings Call Transcript - Seeking Alpha

you may have to create an account or if anyone wants I can copy and paste it.

they basically said details will come out when they get their IPO paperwork lined up, sounds like they are shooting for having it done by the end of year, or sooner if possible.

----------


## Thundercitizen

OMG! Why did it take me soooo long to link EMP as a new sponsor/investor/partner(?) with the Thunder?  Finally, some off-season activity!!??

I'm obviously not in high finance or mover and shaker circles, but this new entity will definitely be in the market to market itself.  The Thunder organization would provide a great avenue for gaining visibility in the national psyche. Depending on the CEO & Board, etc., the may want to join The Professional Basketball Club, LLC of OKC.  Particularly because of OG&E's prominence...or maybe that's the reason they wouldn't.

Apologies for the off-topic post, but wasn't sure this warranted it's own thread.

----------


## Shake2005

> OMG! Why did it take me soooo long to link EMP as a new sponsor/investor/partner(?) with the Thunder?  Finally, some off-season activity!!??
> 
> I'm obviously not in high finance or mover and shaker circles, but this new entity will definitely be in the market to market itself.  The Thunder organization would provide a great avenue for gaining visibility in the national psyche. Depending on the CEO & Board, etc., the may want to join The Professional Basketball Club, LLC of OKC.  Particularly because of OG&E's prominence...or maybe that's the reason they wouldn't.
> 
> Apologies for the off-topic post, but wasn't sure this warranted it's own thread.


Im not sure that a midstream company has any need to be in the national psyche. But I am sure as a local player they will support local teams and causes. OG&E always has and I would assume the culture will be very similar for this child company.

----------


## Spartan

I think there's a formula for being new on the local scene, perhaps just moving one's HQ here fron Texas, puffing oneself up to appear equal to Devon or CHK, acting magnanimous, getting involved w Thunder as much as possible for a "corporate citizen," and then suddenly facing an investor freak-out.

Hopefully they chose not to Enable that vicious cycle. Build a scraper, make strategic investments in OKC, reap the rewards of being in the middle of a lot of energy action, benefit from a large industry-specific talent pool, and strive for STABILITY.

That's my hope.

----------


## Thundercitizen

I'll bet stability and support of the Thunder can be done simultaneously...depending on leadership.

----------


## Spartan

I'm just saying that it tends to go with a set of other actions

----------


## Anonymous.

If there was any doubt left that OKC would be the HQ:

Enable Products, LLC in Oklahoma City OK | Company Profile

Also if you snoop hard enough, you can see they even have started listing job posts for Enable, located in OKC.

----------


## Teo9969

Addresses: 600 Central Park, Oklahoma City, OK 73105

...that's ACMP... who has never been mentioned in relationship to this deal. So I guess OKC won out quite some time ago.

Also, this LLC has been around since 1993...pretty easy to call Bull**** on all the "we chose this name because..." when they clearly picked the name from an old LLC they could operate under anonymously ... lulz at the highest degree.

and the filing active on 03/13/13

...so with how much certainty this appears to.have in retrospect, maybe we should cut Steve a little slack when he says "I'm not worried" in the future.

----------


## adaniel

> If there was any doubt left that OKC would be the HQ:
> 
> Enable Products, LLC in Oklahoma City OK | Company Profile
> 
> Also if you snoop hard enough, you can see they even have started listing job posts for Enable, located in OKC.


Per a friend who works there, they are putting together offers for about 200 employees in Shreveport and Houston.

----------


## ryanosu

> Addresses: 600 Central Park, Oklahoma City, OK 73105
> 
> ...that's ACMP... who has never been mentioned in relationship to this deal. So I guess OKC won out quite some time ago.


Enogex used to be in the Central Park building that ACMP now occupies.

----------


## Teo9969

> Enogex used to be in the Central Park building that ACMP now occupies.


That's been over 3 years ago now, hasn't it?

----------


## Bellaboo

> That's been over 3 years ago now, hasn't it?


Actually, they moved in the spring of 2012, per the article.

Enogex moving to downtown Oklahoma City | News OK

----------


## Pete

Per the Enable FB page, they just sponsored an art exhibit at OCU:

https://www.facebook.com/EnableMidst...ocation=stream

----------


## Praedura

Seems strange to have a corp. that has barely begun its own existence already sponsoring things. But it's a good thing.

Right now, EMP feels like OG&E Jr.

----------


## BoulderSooner

> Seems strange to have a corp. that has barely begun its own existence already sponsoring things. But it's a good thing.
> 
> Right now, EMP feels like OG&E Jr.


they are enogex ... i'm sure this was going to be supported by enogex  but now just using the new name

----------


## Bellaboo

> they are enogex ... i'm sure this was going to be supported by enogex  but now just using the new name


Does Enogex even exist any more ?

----------


## Pete

> Does Enogex even exist any more ?


Oddly, they still have their company website and I don't think any of the signage has changed at Leadership Square.

I suppose it will take some time to change over to Enable, because effectively Enogex is no longer a separate entity.

----------


## Bellaboo

> Oddly, they still have their company website and I don't think any of the signage has changed at Leadership Square.
> 
> I suppose it will take some time to change over to Enable, because effectively Enogex is no longer a separate entity.


Families oil company got 2 letters for 2 different wells. One from Centerpoint and the other from Enogex, both stating their name had changed to Enable.....I have not seen these letters yet, but this is what I was told.

The Enogex sign is still on Leadership Sq.

----------


## GaryOKC6

The phones are answered at the Oklahoma City Centerpoint office as Enable Midstream.

----------


## Bellaboo

I went to the office this evening and checked. The gas for July sold on the Enogex well was stated as Enable Gathering Sytems as of July 1, 2013. Then I also found Enogex statements in July also... doing a definite conversion in the month of July. I did not look at the well being sold to CNP, but was told it was the same, Enable Gathering Systems.

----------


## Bellaboo

From the OKC Chamber info - August newsletter -   we already have heard this before but.....nice to see in print -

“Enable Midstream Partners stands for dependability 
and trust. It emphasizes our ability to compete and 
enable the success of our customers,” Delaney said. 
“Our customers say they know us to be problem 
solving, service-oriented organizations. We intend to 
leverage those competencies to capture new growth 
opportunities. 
*The principal offices of the gathering and processing 
leadership team will be in Oklahoma City, and the 
interstate pipeline’s principal offices will be in Houston. 
The principal office of the executive management team 
also is expected to be in Oklahoma City.*
The announcement included the naming of the 
senior operations leadership team of the natural 
gas midstream partnership that includes OGE 
Energy Corp.’s midstream business Enogex LLC and 
CenterPoint Energy’s interstate pipelines and field 
services businesses. 
More than 1,900 employees work at Enable 
Midstream which has combined assets of nearly $11 
billion in nine states. It owns and operates 8,400 miles 
of interstate pipelines with nearly 9 billion cubic feet 
per day of transport capacity and nearly 2,300 miles 
of intrastate pipelines. It also has more than 11,000 
miles of gathering lines, which in 2012 moved nearly 4 
billion cubic feet of natural gas per day. 
Additionally, it has more than 90 billion cubic feet 
of natural gas storage capacity and 11 major processing 
plants with nearly 2 billion cubic feet per day of inlet 
capacity.

----------


## Plutonic Panda

From their Facebook page: ''Thanks for following Enable Midstream! We are going to be sharing some facts about our company in the days to come!''

- https://www.facebook.com/EnableMidst...33492903392708

----------


## Praedura

Hopefully they'll post some interesting info.

Highly unlikely that it will be anything remotely tower related.

----------


## betts

Enable apparently a new Thunder sponsor.  They are advertising heavily on the Thunder-Sixers game today,including advertising for employees.

----------


## BoulderSooner

> Enable apparently a new Thunder sponsor.  They are advertising heavily on the Thunder-Sixers game today,including advertising for employees.


kind of new .. enable  is enogex .. so they took over that sponsor ship ..

----------


## Praedura

> kind of new .. *enable  is enogex* .. so they took over that sponsor ship ..


enable is enogex... on $11 billion in steroids!  :Smile:

----------


## Bellaboo

> Enable apparently a new Thunder sponsor.  They are advertising heavily on the Thunder-Sixers game today,including advertising for employees.


I saw this on the big advertising screen on the outside of the CHK Arena Monday evening.

----------


## Bellaboo

Saw this on their twitter account -

*Enable Midstream's 1800 employees offer solutions to enable customer success.*

1,800 employees. Not bad.

----------


## Praedura

> Saw this on their twitter account -
> 
> *Enable Midstream's 1800 employees offer solutions to enable customer success.*
> 
> 1,800 employees. Not bad.


I noticed that too. Of course, that number would be for employees in all locations, both in and out of state. Imagine that kind of head count for just OKC alone (maybe we'll get there some day).

----------


## Teo9969

Wouldn't be surprised if a good portion of those end up in OKC over the next 5 to 10 years.

I obviously don't have inside information, but I imagine most all new hires will be in OKC and that over time, they'll phase many jobs out of Houston and Louisiana to OKC. They can always promote people but require them to move to OKC, and then bring the replacement for the now vacant position to OKC at the same time.

----------


## Dustin

Enable was advertising like crazy at the Thunder game on Sunday!

----------


## NWOKCGuy

Enable Midstream files registration statement | News OK




> "Enable, which has about 1,700 employees, will maintain offices in Oklahoma City and Houston, but its executive management team is expected to be based in Oklahoma City, although the fledgling firm has yet to name a chief executive.
> 
> Former Enogex President Keith Mitchell was the highest ranking Enable Midstream executive among the nine announced July 30. He will serve as the new firm's chief operating officer.
> 
> Enable has personnel in Oklahoma City, Houston, Tulsa and Shreveport, La."


Does this mean that the Tulsa and Shreveport employees will end up in either OKC or Houston?

----------


## Bellaboo

New CEO/Pres named -

They state that Enable is HQ'd in OKC.

Enable Midstream Partners names new president, CEO | News OK

----------


## shawnw

I skimmed the article... so he's moving here?  Didn't catch that if it said so...

----------


## Pete

I believe the CEO will be splitting time between OKC & Houston, as the former Centerpointe Midstream still has loads of employees down there.

HOWEVER...

I had mentioned "Project Orange" in another thread and I believe that is the code name for moving a bunch of the Houston jobs to OKC.

Enogex/Enable does not have room in Leadership Square for a bunch more people (exact number unknown) so it seems they are looking for more space or perhaps a place to consolidate everyone.

The Braniff Building would probably make the most sense and really the only other available options with large, contiguous office space would be the Parkside Building and a renovated Dowell Center.

Even if they wanted to go to the suburbs (which seems unlikely) I don't think they would find enough space.

----------


## Bellaboo

OG&E/Enogex = Orange

----------


## lasomeday

> I believe the CEO will be splitting time between OKC & Houston, as the former Centerpointe Midstream still has loads of employees down there.
> 
> HOWEVER...
> 
> I had mentioned "Project Orange" in another thread and I believe that is the code name for moving a bunch of the Houston jobs to OKC.
> 
> Enogex/Enable does not have room in Leadership Square for a bunch more people (exact number unknown) so it seems they are looking for more space or perhaps a place to consolidate everyone.
> 
> The Braniff Building would probably make the most sense and really the only other available options with large, contiguous office space would be the Parkside Building and a renovated Dowell Center.
> ...


I had heard from one of my enable friends that he was lucky he didn't have to move to Houston......  Not sure what that means but it sounds like it will be an employee swap to me.

----------


## lasomeday

They could lease the fidelity buildings....  There will be space in there

----------


## adaniel

Take this with a MASSIVE grain of salt...

I posted this earlier last year and it hasn't transpired yet but my friend who works there is fairly certain they are moving around 200 people from their Houston and Shreveport offices here. Not sure if this is a long term deal or the "project orange" that is being referenced, so take it for what its worth.

----------


## Pete

I know there will be some reshuffling but there will definitely be a net gain for OKC, just not sure how many jobs.

I would think at least a couple of hundred, maybe more.

----------


## Bellaboo

This might make sense for the timeline and all. This could be mystery tower #2 at the BOA parking lot. The timeline would be right for them to vacate Leadership Square.

----------


## Bellaboo

Enable IPO -

Enable Midstream offers terms of IPO | News OK

----------


## Bellaboo

Enable will receive incentive money (17.5 million) for new jobs added -  366 new positions in OKC.


http://newsok.com/oklahoma-city-comp...rticle/4569149




> Enable stands to secure the biggest chunk. The partnership, formed last year when OGE Energy Corp. combined its midstream division with CenterPoint Energy Inc.’s interstate pipeline assets, expects to add as many as 366 new jobs in Oklahoma City.

----------


## Pete

^

That's great news!  Time for a new Tower!

Interesting they are doing this through the state's quality job program.  Don't believe they've applied for similar funds from OKC, although I'm not sure you can get both.

----------


## onthestrip

As I posted in a similar thread in the politics section. Why exactly are we giving an Oklahoma utility company money to add jobs? Its not like they are leaving the state if we didnt. And its not as if this money is bringing them here from another state. They are an existing Oklahoma company that is simply adding jobs due to more demand. They dont need or deserve this incentive IMO. 

If this was Texas Midstream and they were wanting to move here, thats one thing, but giving money to a company that would be adding jobs here regardless is absurd. I know the term corporate welfare gets thrown around a lot but this is it to a T.

----------


## Pete

They are certainly moving some jobs from Houston.

And remember, Enable is not a utility company.  They are partly owned by OG&E but the company itself is all about midstream oil & gas.

And further, they could have easily set their HQ and moved some or all their employees to the Houston entity.


Still, I understand the point about giving tax dollars to companies who are already here.  We discussed this on the Tapstone thread and Ed Shadid has raised the issue in City Council meetings (for the City's job growth incentives).

----------


## lasomeday

> As I posted in a similar thread in the politics section. Why exactly are we giving an Oklahoma utility company money to add jobs? Its not like they are leaving the state if we didnt. And its not as if this money is bringing them here from another state. They are an existing Oklahoma company that is simply adding jobs due to more demand. They dont need or deserve this incentive IMO. 
> 
> If this was Texas Midstream and they were wanting to move here, thats one thing, but giving money to a company that would be adding jobs here regardless is absurd. I know the term corporate welfare gets thrown around a lot but this is it to a T.


Here is what Enable is...

*CENTERPOINT* + *ENOGEX*  =  ENABLE
*HOUSTON*     +  *OKC*       =   JOBS IN OKC NOT HOUSTON

CAPICHE

----------


## onthestrip

> Here is what Enable is...
> 
> *CENTERPOINT* + *ENOGEX*  =  ENABLE
> *HOUSTON*     +  *OKC*       =   JOBS IN OKC NOT HOUSTON
> 
> CAPICHE


Thank you for the info

----------


## Plutonic Panda

Oil & Gas IPO Enable Midstream Works Rich Set Of Assets ENBL CNP OGE - Investors.com

----------


## zookeeper

> Oil & Gas IPO Enable Midstream Works Rich Set Of Assets ENBL CNP OGE - Investors.com


Nice picture in that article.

----------


## Plutonic Panda

I love it!

----------


## ljbab728

http://www.oklahoman.com/article/5335001?embargo=1




> Enable Midstream Service LLC plans to add 108 jobs in Oklahoma City over the next five years, starting with management positions that pay an average of more than $130,000 a year.
> 
> 
> 
> The company, which is the employment entity within Enable, has more than 1,900 employees, with its principal offices at Oklahoma City’s Leadership Square. Enable plans to invest about $3.8 million in remodeling and office equipment there this year, according to a report to the Oklahoma City Economic Development Trust.

----------


## Pete

Building permit today for the 10th floor of Leadership Square; $2 million in build out for Enable.

----------


## Pete

OKCTalk - Enable Midstream to add 108 new high-paying jobs

----------


## Pete

Enable to cut 10% of its workforce:

Equities.com Global Financial Community

----------


## zookeeper

I hate to cross-post, but I didn't realize there was a thread for the Enable announcement.

 					About Enable....it sounds like they had the chutzpah to announce  the layoffs and announce the intention to continue acceptance for  Quality Jobs money at the same time. Their PR guy says how sorry they are about the layoffs and know it will hurt a lot of people and then says according to the Oklahoman "Alford  said Monday’s announcement wasn’t expected to jeopardize long-term  plans by the company to take advantage of state and local job-creation  incentives."

*Note: Enable has assets of 11.7 BILLION dollars. But, they need layoffs - and - part of your paycheck. This insanity should stop!*

----------


## Just the facts

The way the Quality Jobs program works seems to have some very serious flaws.

----------


## gopokes88

Could actually be a net positive for OKC as the article mentions some consolidation will occur into okc and Houston. Still no "major" job losses (500+) because of oil prices yet.

----------


## Pete

Enable CEO 'resigns' only a little over a year after being hired; Pete Delaney takes over as interim CEO:

http://finance.yahoo.com/news/enable...120000071.html

----------


## Just the facts

Wow.  No secession planning or anything;  just an I quit and here are the keys?

----------


## Pete

Had heard that he was forced out; effectively fired.

----------


## Bellaboo

> Wow.  No secession planning or anything;  just an I quit and here are the keys?


Sounds like there was some planning alright.....

----------


## gopokes88

Here's an example of an effective clawback on a jobs program. We just need to be better at writing them into contracts. 

Google to pay $1M as Titan leaves NM | Albuquerque Journal News

----------


## Plutonic Panda

http://newsok.com/enable-midstream-c...rticle/5509132

----------


## gurantula35

http://m.digitaljournal.com/pr/3483384

----------


## OkiePoke

Enable Midstream Announces Major Expansion of Crude Oil Gathering Business
Category: Company News, Financial News, Partnerships
Tuesday, October 23, 2018 4:27 pm CDT
EmailPDFPrintRSS
Public Company Information:
NYSE:ENBL
"Todays announcements continue Enables strategy of extending our reach across the midstream value chain by significantly expanding our crude business"
OKLAHOMA CITY--(BUSINESS WIRE)--Enable Midstream Partners, LP (NYSE: ENBL) is significantly expanding its crude oil midstream business with todays announcement of agreements in two of the countrys most active crude plays. In the Anadarko Basin, Enable has signed a definitive agreement to acquire Velocity Holdings, LLC (Velocity), an integrated crude oil and condensate gathering and transportation company in the SCOOP and Merge plays, for $442 million, subject to certain post-closing adjustments. In the Williston Basin, Enable has entered into new contractual commitments for a substantial expansion of the companys crude and water gathering systems driven by significant producer activity and a backlog of drilled but uncompleted wells from over 90,000 gross acres of dedication.

Todays announcements continue Enables strategy of extending our reach across the midstream value chain by significantly expanding our crude business, said Enable Midstream President and CEO Rod Sailor. The Velocity acquisition builds on Enables market-leading Anadarko Basin midstream platform that now offers customers complete wellhead-to-market solutions for both natural gas and crude. The combination of the Velocity acquisition and the expansion of our Williston Basin assets increases the scale and contribution of our crude and water businesses, providing for fee-based growth as producers continue to target crude oil production.

Taken together, Enable expects the two crude business expansions to generate a 2019 total capital invested to Adjusted EBITDA multiple of approximately 13 times, working down to below a 10-times multiple by 2020. These expansions are expected to be accretive to distributable cash flow per unit starting in 2019. Enable does not expect to raise common equity to finance the Velocity acquisition.

VELOCITY ACQUISITION

The Velocity acquisition builds on Enables market-leading natural gas gathering and processing infrastructure position in the prolific SCOOP and Merge plays that have attracted substantial producer activity with some of the best well economics in the country. The Velocity crude and condensate system is comprised of approximately 150 miles of pipeline capable of flowing approximately 225,000 barrels per day (bpd), along with over 400,000 barrels of owned and leased storage and 26 truck bays capable of unloading more than 100,000 bpd. Included in these assets is Velocitys 60 percent interest in a 26-mile pipeline system joint venture with a third party that owns and operates a refinery connected to the Velocity system. Velocitys operations are backed by large area dedications and long-term, fee-based contracts with over 2 million acres dedicated from shippers, including acreage dedications from top SCOOP and Merge producers.

The Velocity acquisition will give Enable an integrated crude and natural gas midstream platform in the Anadarko Basin, enhancing Enables business development prospects, strengthening relationships with key current customers and providing the opportunity for operational synergies. Producers have dedicated additional rigs to the oil-rich SCOOP and Merge plays over the past year, and the move to pad drilling in these areas is expected to increase demand for crude oil gathering services. As the only integrated crude oil and condensate gathering and transportation system in the SCOOP and Merge plays, the Velocity system is poised for sustained growth from both new customers and the substantial drilling inventory of current customers on the system.

Enable received early termination of the waiting period under the HartScottRodino Antitrust Improvements Act on Oct. 19 and expects to close the Velocity acquisition on or about Nov. 1, following the satisfaction of remaining pre-closing conditions.

WILLISTON BASIN EXPANSION

In the Williston Basin, Enable plans to further expand its existing crude oil and water gathering systems to support volumes from over 90,000 gross acres dedicated to Enable in North Dakotas Dunn and McKenzie counties under long-term, fee-based agreements. Subject to future drilling plans, Enable will add up to 72,000 bpd of crude oil gathering design capacity, increasing total Williston Basin crude gathering capacity to up to approximately 130,000 bpd. Enable expects to start gathering volumes associated with these system expansions in the first half of 2019, including volumes from a significant number of drilled but uncompleted wells.

ABOUT ENABLE MIDSTREAM PARTNERS

Enable owns, operates and develops strategically located natural gas and crude oil infrastructure assets. Enables assets include over 13,300 miles of natural gas and crude oil gathering pipelines, approximately 2.6 Bcf/d of processing capacity, approximately 7,800 miles of interstate pipelines (including Southeast Supply Header, LLC of which Enable owns 50 percent), approximately 2,200 miles of intrastate pipelines and eight storage facilities comprising 86.0 billion cubic feet of storage capacity. For more information, visit http://www.enablemidstream.com.

FORWARD-LOOKING STATEMENTS

Some of the information in this press release may contain forward-looking statements. Forward-looking statements give our current expectations, contain projections of results of operations or of financial condition, or forecasts of future events. Words such as could, will, should, may, assume, forecast, position, predict, strategy, expect, intend, plan, estimate, anticipate, believe, project, budget, potential, or continue, and similar expressions are used to identify forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release include our expectations of plans, strategies, objectives, growth and anticipated financial and operational performance, including revenue projections, capital expenditures and tax position. Forward-looking statements can be affected by assumptions used or by known or unknown risks or uncertainties. Consequently, no forward-looking statements can be guaranteed.

A forward-looking statement may include a statement of the assumptions or bases underlying the forward-looking statement. We believe that we have chosen these assumptions or bases in good faith and that they are reasonable. However, when considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in this press release, in our Annual Report on Form 10-K for the year ended Dec. 31, 2017 ("Annual Report"), and in our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2018 ("Quarterly Report"). Those risk factors and other factors noted throughout this press release, in our Annual Report and in our Quarterly Report could cause our actual results to differ materially from those disclosed in any forward-looking statement. You are cautioned not to place undue reliance on any forward-looking statements.

Any forward-looking statements speak only as of the date on which such statement is made, and we undertake no obligation to correct or update any forward-looking statement, whether as a result of new information or otherwise, except as required by applicable law.



Contact:
Enable Midstream Partners, LP
Media:
David Klaassen, 405-553-6431
or
Investor:
Matt Beasley, 405-558-4600

----------


## OkiePoke

Enable Midstream Partners, LP ENBL, -1.43% today announced that an affiliate of Golden Pass LNG is the cornerstone shipper for the company’s Gulf Run Pipeline project. Golden Pass is a joint venture between affiliates of Qatar Petroleum and ExxonMobil. Earlier today, Golden Pass announced it had made a positive final investment decision on a $10 billion infrastructure investment to add liquification and export capabilities to its existing liquefied natural gas (LNG) facility in Sabine Pass, Texas, which will be served by the Gulf Run Pipeline project.

https://www.marketwatch.com/press-re...ect-2019-02-05

----------


## djohn

Enable being bought by much larger Dallas based Energy Transfer.   

Wonder what this means for Enable HQ employees.

----------


## gopokes88

> Enable being bought by much larger Dallas based Energy Transfer.   
> 
> Wonder what this means for Enable HQ employees.


Well given energy transfer bought SemGroup in Tulsa, said they’d keep a Tulsa presence, then closed it anyway, I would say nothing good.  

Energy transfer isn’t a good company.

----------


## gopokes88

Mr Skilling tweets about energy transfer a lot. You can scroll through his stuff. 

https://twitter.com/mr_skilling/stat...807610375?s=21

----------


## Pete

Enable has about 1,700 employees, with 500 of them in the BOK Park Plaza building, their biggest tenant.

This does not bode well for downtown or OKC in general.

----------


## gopokes88

> Enable has about 1,700 employees, with 500 of them in the BOK Park Plaza building, their biggest tenant.
> 
> This does not bode well for downtown or OKC in general.


Field employees will transition to ET employees, I would expect the 500 in OKC get laid off or relocated to Dallas.

----------


## OKC_Chipper

Yeah this is not good, especially since Enable is one of the top corporate stewards in the city. Seems like I always see them as a sponsor of whatever local event is going on.

----------


## OkiePoke

Yeah, that's a big loss for the City. I'm sure there will be a local office, but it will be small.

----------


## PhiAlpha

Well crap. Not the news I was hoping for. The consolidation continues.

----------


## OkiePoke

> Well crap. Not the news I was hoping for. The consolidation continues.


Seems as CNP really wanted out, they too quite the discount.

----------


## mugofbeer

> Field employees will transition to ET employees, I would expect the 500 in OKC get laid off or relocated to Dallas.


The rich get richer.

----------


## Pete

If most the Enable HQ employees are moved or let go, it will add to the huge pile of lost O&G jobs in OKC in just the last 5 years or so.

Sandridge imploded, Devon has seen about 75% reductions, about the same or more for Chesapeake...

We've lost over 10,000 well-paid energy jobs during that time.

----------


## PoliSciGuy

Gonna force OKC to diversify and find a new area to expand in beyond energy. The nascent aerospace industry is a good start, and hopefully Paycom's success can entice other tech and finance companies out here.

----------


## mugofbeer

It would be nice if all these tech companies didn't all want to congregate in the same dozen cities.

----------


## Pete

> It would be nice if all these tech companies didn't all want to congregate in the same dozen cities.


They congregate where there are very strong universities, something our state completely lacks.

Until we invest properly in education, we'll continue to land call centers and some Tinker-related stuff and not much else.

----------


## catch22

> It would be nice if all these tech companies didn't all want to congregate in the same dozen cities.


Have to throw your line where the fish are. Either that or pay well above industry standards to compensate for people living where they don't want to live, and protect them from leaving your company.

----------


## king183

> It would be nice if all these tech companies didn't all want to congregate in the same dozen cities.


It would be nice if this state realized these tech companies and other high skill companies locate where the talent is or where there is a strong talent pipeline, and we simply don't have either because we don't invest appropriately in education.

----------


## Pete

^

And most tech start-ups come from college students and/or recent graduates.

It's zero coincidence that Oklahoma is almost completely on the sidelines when it comes to these lucrative jobs.

----------


## Rover

We don't want those liberal elite educated people here in Oklahoma, do we?

Sorry.  I just get so frustrated with the backwards attitude about education here and how it hamstrings financial progress in this state.  What will it take to convince everyone that Oklahoma's future includes a skilled educated workforce and not just farmers, ranchers, and rig hands?  How many businesses have to move south to get the attention at 23rd street?

----------


## SouthOfTheVillage

> They congregate where there are very strong universities, something our state completely lacks.
> 
> Until we invest properly in education, we'll continue to land call centers and some Tinker-related stuff and not much else.


Those call centers aren’t a terrible investment if you can keep them leased up. It’s been tough lately. 

As for OKC’s economy in general, seems like the weed business is picking up a decent amount of the slack. And not being full recreational likely has the benefit of keeping supply reasonably balanced with demand.

----------


## Rover

> Those call centers aren’t a terrible investment if you can keep them leased up. It’s been tough lately. 
> 
> As for OKC’s economy in general, seems like the weed business is picking up a decent amount of the slack. And not being full recreational likely has the benefit of keeping supply reasonably balanced with demand.


So, if a single building owner is doing ok vs 1000 employees, thats economic progress?  Or the weed business that profits a few greatly is the cornerstone of economic development? 

THIS kind of thinking is why we are stuck in a deep rut in OK.

----------


## SouthOfTheVillage

> So, if a single building owner is doing ok vs 1000 employees, that’s economic progress?  Or the weed business that profits a few greatly is the cornerstone of economic development? 
> 
> THIS kind of thinking is why we are stuck in a deep rut in OK.


That’s not at all what I said.
Sad that you have to make everything political.

----------


## Rover

> That’s not at all what I said.
> Sad that you have to make everything political.


Your point was about a single building owner investor doing okay vs our economy's devastating impact on the general population and their opportunities.  You are also implying the weed business is a good alternative to a fundamentally healthy economy.  These completely ignore what is going on in the real economy for real Oklahomans.

If that is political to you, than I probably know what your politics are.

----------


## HangryHippo

> So, if a single building owner is doing ok vs 1000 employees, thats economic progress?  Or the weed business that profits a few greatly is the cornerstone of economic development? 
> 
> THIS kind of thinking is why we are stuck in a deep rut in OK.


I didnt understand that either. Call centers and weed business are going to be picking up the slack of Enable?

----------


## BG918

Biggest mistake Oklahoma made was having two state university systems instead of one single flagship like Nebraska and Arkansas.  It works in more populated states but not in Oklahoma.

----------


## HangryHippo

> Biggest mistake Oklahoma made was having two state university systems instead of one single flagship like Nebraska and Arkansas.  It works in more populated states but not in Oklahoma.


Yep. There are many universities in OK that need to either become more focused branch campuses or closed/rolled into OU and OSU.

----------


## Pete

> Biggest mistake Oklahoma made was having two state university systems instead of one single flagship like Nebraska and Arkansas.  It works in more populated states but not in Oklahoma.


And much more effectively in states like Wisconsin, Minnesota, Indiana, Illinois, Maryland, Ohio, Pennsylvania, Missouri and Virginia...  All with significantly more population than Oklahoma and all with significantly better flagship universities.

----------


## Plutonic Panda

Is there any chance at all they stay located in OKC or they are certainly moving most employees to Dallas?

----------


## mugofbeer

> Yep. There are many universities in OK that need to either become more focused branch campuses or closed/rolled into OU and OSU.


I've thought a 3 school system should be designed.  OU, OSU and college prep/Jr. College/Vo-tech trades.  The schools would have transferrable credits and some campus overlap.  Dorms would not be needed in many location and make great use of technology.

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## dankrutka

A lot of crapping on OU here, which has done an incredible job of maintaining university quality and reputation as the state slashed their budget. I can't speak for how things are going with the last couple presidents, but OU is not some failed project. The state needs to re-invest in it. Hopefully those trashing it here are also contacting state reps to increase education funding.

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## Jake

> A lot of crapping on OU here, which has done an incredible job of maintaining university quality and reputation as the state slashed their budget. I can't speak for how things are going with the last couple presidents, but OU is not some failed project. The state needs to re-invest in it. Hopefully those trashing it here are also contacting state reps to increase education funding.


I was going to say. I'm ignorant about university systems and whether a single vs multi-school system is better, but I assume that the state continuously slashing education budgets/funding hasn't helped matters regardless of what the setup is.

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## HangryHippo

> I've thought a 3 school system should be designed.  OU, OSU and college prep/Jr. College/Vo-tech trades.  The schools would have transferrable credits and some campus overlap.  Dorms would not be needed in many location and make great use of technology.


Great idea. You could specialize campuses if the surrounding areas have a major industry (aviation near Tinker and in Tulsa as an example) and direct more resources to OU and OSU to help them level up.

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## Bellaboo

I thought this was the Enable thread ?

For each ENBL share you own, you will get .8595 share of ET. Should consulate this summer.

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## gopokes88

> Is there any chance at all they stay located in OKC or they are certainly moving most employees to Dallas?


almost certainly moving them to Dallas given what they did with SemGroup. In the buyout with SemGroup part of the contract was they would maintain the Tulsa office, 90 days after the deal closed they relo'ed everyone to Dallas. 

They're also hyping $100 million in "efficiencies", 500 OKC employees X $200,000= $100,000,000. A few will get relocated but most will get severance.

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## Plutonic Panda

Bummer.

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## Pete

If Enable closes its doors at BOK Park Plaza, that would leave the four floors occupied by BOK of the 27, an 85% vacancy rate, not including all the vacant retail spaces.

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## gopokes88

"The merger agreement stipulates that Energy Transfer will maintain a presence in Tulsa for at least two years."
"It now employs about 175 in Tulsa"
https://tulsaworld.com/business/ener...92fb93daf.html


"Energy Transfer LP has laid off 108 employees at its Tulsa, Oklahoma office"
https://www.rigzone.com/news/energy_...60725-article/

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## Plutonic Panda

> If Enable closes its doors at BOK Park Plaza, that would leave the four floors occupied by BOK of the 27, an 85% vacancy rate, not including all the vacant retail spaces.


I thought they were going into the building Sandridge built?

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## Pete

> I thought they were going into the building Sandridge built?


That was Echo Energy who bought the former Parkside Building from SandRidge.

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## Plutonic Panda

> That was Echo Energy who bought the former Parkside Building from SandRidge.


Thanks for clearing that up. Is that still on?

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## Pete

> Thanks for clearing that up. Is that still on?


Echo already bought the building and moved in.

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## AnguisHerba

> almost certainly moving them to Dallas given what they did with SemGroup. In the buyout with SemGroup part of the contract was they would maintain the Tulsa office, 90 days after the deal closed they relo'ed everyone to Dallas. 
> 
> They're also hyping $100 million in "efficiencies", 500 OKC employees X $200,000= $100,000,000. A few will get relocated but most will get severance.


I doubt the average employee payroll/benefits cost is $200k, but I'm just nitpicking.  I'm sure with the building lease and other expenses included, you're on the money.

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## AnguisHerba

So, does this mean OGE Energy Corp is exclusively in the utility business again?

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## DowntownMan

What Ive heard from several that work there. They expect OkC office to phase out over this year. Many looking new jobs already if they dont want to relocate

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## Pete

I moved all the political posts to this thread:

https://www.okctalk.com/showthread.php?t=46178

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## OkiePoke

Transaction Closed.

Enable is no longer. Energy Transfer plans to keep an office in OKC, probably around 125-150 people.

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## Pete

> Transaction Closed.
> 
> Enable is no longer. Energy Transfer plans to keep an office in OKC, probably around 125-150 people.


That would be about one floor in the BOK Park Plaza as opposed to the five they have.

That mostly empty building is going to be even emptier.

And Devon Tower still has the entire middle third completely dark.

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## catch22

Yikes. I was somewhat conscious of BOK, but I guess I forgot about Devon. 

Is there any chance Devon would lease space out in their own building? I guess that is a silly question since BOK can't even get tenants....

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## shawnw

Pretty sure in the Devon Tower thread it was mentioned that they already started to do that finally but perhaps I'm misremembering.

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## Pete

> Pretty sure in the Devon Tower thread it was mentioned that they already started to do that finally but perhaps I'm misremembering.


No, they aren't leasing out any space in their tower.

The entire complex is setup for a single tenant (security, common areas) and it would be a major undertaking to change that.  And they aren't going to do that when the own an almost empty building right across the street that was built for multiple tenants.

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## shawnw

Dang... did I dream that that happened?  Must have...

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## dcsooner

This city just will not admit the O&G industry is not sufficient to maintain  DT occupancy. How long will it take for OKC to diversify ( Major or Regional HQ Offices) sufficiently to sustain and grow DT.

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## G.Walker

Well for starters, if they quit clustering all the big employers in Quail Springs Parkway, that will be a start.

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## G.Walker

> That would be about one floor in the BOK Park Plaza as opposed to the five they have.
> 
> That mostly empty building is going to be even emptier.
> 
> And Devon Tower still has the entire middle third completely dark.


I don't understand why OG&E doesn't lease the remaining space in BOK Park Plaza. I am almost willing to accept that now, instead of them building a new tower, because that doesn't seem like that is going to happen now.

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## Pete

> I don't understand why OG&E doesn't lease the remaining space in BOK Park Plaza. I am almost willing to accept that now, instead of them building a new tower, because that doesn't seem like that is going to happen now.


I believe they want to own their building.

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## Swake

> I believe they want to own their building.


I'm sure they could buy the building if they wanted.

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## Pete

They could have also bought Sandridge Tower and chose not to.

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## dankrutka

> This city just will not admit the O&G industry is not sufficient to maintain  DT occupancy. How long will it take for OKC to diversify ( Major or Regional HQ Offices) sufficiently to sustain and grow DT.


Maybe you should open a non-O&G business and rent some space in downtown OKC. You could do that instead of posting this same comment over and over again!

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## April in the Plaza

> This city just will not admit the O&G industry is not sufficient to maintain  DT occupancy. How long will it take for OKC to diversify ( Major or Regional HQ Offices) *sufficiently to sustain and grow DT*.


Downtown is growing. I'm honestly not sure what you're talking about.

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## PhiAlpha

> This city just will not admit the O&G industry is not sufficient to maintain DT occupancy. How long will it take for OKC to diversify ( Major or Regional HQ Offices) sufficiently to sustain and grow DT.

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