Devon did put up Christmas decorations but not the big displays they did in the past.

They did not put the giant ornament in the middle of their lawn and did not hang those huge ribbons and pinecones in the rotunda.

And although they sponsored some of the Christmas events in the Myriad Gardens, they did not hold any of the events (like Saturday with Santa) in the rotunda as they had before Covid.

Don't they own that giant ornament? It seems silly not to display it since it costs you nothing except install.

17241

In addition to the window still being broken, they are now missing a letter from their street level sign. Everyone meet Devo

Does anyone know why Devon hasn't replaced the window at the top of the tower. They finally did get all the other windows installed, but left the window at the top still needing replaced. Doesn't make sense!

spite

I’ve still got my money on BancFirst finishing the glass on their tower before Devon finishes there’s. With as much positive growth and development happening downtown it is disappointing that the beacon of our skyline is clearly not interested in improving the look of downtown. (Missing windows, gates up and plaza/sidewalks closed for months, halfass Christmas decorations) on top of that the LEDs have been turned off for over a year

I know Devon hasn't been doing well for a few years now, but I wonder how much this lack of upkeep and general interest in downtown OKC is due to Larry Nichols stepping down as the CEO.

That campus was all his doing, as was Project 180 and a bunch of other downtown projects.


They still don't have the "Devo" sing fixed, BTW. At least as of Sunday.

I know Devon hasn't been doing well for a few years now, but I wonder how much this lack of upkeep and general interest in downtown OKC is due to Larry Nichols stepping down as the CEO.

That campus was all his doing, as was Project 180 and a bunch of other downtown projects.


They still don't have the "Devo" sing fixed, BTW. At least as of Sunday.

devon had a great year last year .. and will again this year ..

devon had a great year last year .. and will again this year ..
Another great Boulder contribution.

Another great Boulder contribution.

He ain't wrong though. Devo has had a fantastic year. It was the best performing equity in the SPY.

https://markets.businessinsider.com/news/stocks/top-10-best-performing-sp500-stocks-2021-devon-marathon-oil-2021-12

Keep in mind, about half their tower is still empty.

And the BOK Park Plaza they also own is well more than half vacant.

They have to be bleeding money from their real estate holdings and that is likely why they have made the noticeable cutbacks.

Didn't they pay cash for the build on Devon Tower? I don't recall for sure, but I was thinking that was discussed publicly (shareholder report maybe?) at the time.

He ain't wrong though. Devo has had a fantastic year. It was the best performing equity in the SPY.

https://markets.businessinsider.com/news/stocks/top-10-best-performing-sp500-stocks-2021-devon-marathon-oil-2021-12

Then Devo should have the money to get some contractors to "whip it into shape" , "its not too late to ,whip it, whip it good!". :)

Happened to be driving by yesterday and caught a glimpse of the crown reflecting a beam of light through the dust.



Suaron has regained much of his former strength.

He cannot yet take physical form, but his spirit has lost none of its potency.

Concealed within his glass tower, The Lord of Oklahoma City sees all.

His gaze pierces cloud, shadow, earth, and flesh.

You know of what I speak, OKCitians.

A great eye, lidless, wreathed in (apparently hard to replace) custom tinted glass.

https://i.imgur.com/CNxqTiC.jpg

Didn't they pay cash for the build on Devon Tower? I don't recall for sure, but I was thinking that was discussed publicly (shareholder report maybe?) at the time.

yep

Also, Devon was just named the number one performing stock in 2021 among the S&P 500: https://markets.businessinsider.com/news/stocks/top-10-best-performing-sp500-stocks-2021-devon-marathon-oil-2021-12 with a $30.22 billion market cap and YTD performance of almost +200%. I do believe that rumors of Devon's demise have been greatly exaggerated.

No one is saying they are failing.

Just that they have more than double the office space they currently need and therefore are not obviously keen on plowing more money into their property.

Isn't "hasn't been doing well" and "bleeding money" in the same ballpark as failing?

Isn't "hasn't been doing well" and "bleeding money" in the same ballpark as failing?

I specifically said "bleeding money from their real estate holdings".


What is your explanation for taking over two years (and counting) to replace broken windows, not fixing their monument sign, not putting up all their Christmas decorations, and turning off their LED lighting?

It just seems like they don’t give a sh!t anymore which is sad.

When I walked through there just a few days ago, two of their outdoor fountains were completely drained and it didn't look like there was any active work. No idea how long they have been like that.

It's also very strange to me they didn't host any events for Downtown in December. They used to do a ton of them.

I specifically said "bleeding money from their real estate holdings".


What is your explanation for taking over two years (and counting) to replace broken windows, not fixing their monument sign, not putting up all their Christmas decorations, and turning off their LED lighting?

I have no special insight. Just taking issue with the suggestion that they are struggling when there are plenty of indications that they are doing pretty well financially right now. It could be as you said that the downtown real estate investment was the pet project of Larry Nichols and now that he has retired from active leadership it has fallen down the new leadership's list of priorities. But I don't have special insight there, so there could also be a different reason for what is being interpreted here as a lack of action.

^

They may have had a good year but they have let go half their staff in just the last several years.

That resulted in them backing out of taking 5 floors in the BOK Park Plaza and half their tower still being completely dark.


It could be as simple as them seeing these real estate expenditures as unimportant in the face of terminating the employment of 1,000 people.

They also just acquired WPX and have had a massive staff/leadership transition from top to bottom over the last 6 months. I know from my friends there on both sides of the merger and at multiple levels of leadership within the company that it’s been a cluster and things are just now starting to settle down. Add to that the fact that the highest management guys are now former WPX employees and that they are also still in the process of completing what would’ve been their HQ in Tulsa and it makes sense as to why some maintenance seems to have been overlooked on the campus (though the fact that there are still broken windows that haven’t been replaced is pretty inexplicable). Hopefully things continue to settle down and they pull it together next year.

What is their plan with the WPX building? Are they going to sell it or lease it?

I would imagine they plan to sell it eventually but I believe they’re currently determining how they plan to use and market the space and are going to lease it. Haven’t heard anything in awhile though. The building looks pretty cool now that a bunch of the brick is up. Sucks that WPX got bought and moved before even getting to use it.

It’ll be a very nice building for Tulsa. I’m glad it got built. It would have sucked even worse if they weren’t far along and it was canceled. Hopefully it could attract an major out of state employee possibly relocating an HQ.

I wish Canoo would have located their HQ here instead of NWA.

It’ll be a very nice building for Tulsa. I’m glad it got built. It would have sucked even worse if they weren’t far along and it was canceled. Hopefully it could attract an major out of state employee possibly relocating an HQ.

I wish Canoo would have located their HQ here instead of NWA.

If they are not as well off as we think, then it might not matter, either way.

If they are not as well off as we think, then it might not matter, either way.
True but I’m trying to be positive. This could be great for the state or it’ll be nothing.

True but I’m trying to be positive. This could be great for the state or it’ll be nothing.

Oh, no doubt. I agree with you. I hope it works out for the state.

Meh, I don't buy that at all. The basic repair of windows and signs and putting up decorations is not a reflection of how Devon Energy is performing. The cost of that is mere crumbs to them. It just has to do with leadership caring to do it.

Meh, I don't buy that at all. The basic repair of windows and signs and putting up decorations is not a reflection of how Devon Energy is performing. The cost of that is mere crumbs to them. It just has to do with leadership caring to do it.
And laying off a 1,000 people is not a reflection either?

And laying off a 1,000 people is not a reflection either?

It is a reflection that they over-hired during boom times. Now, while prices are higher, they have learned from that, and are not hiring like wildfire like they did in the past. They are not thriving yet, but from a balance sheet and income statement POV, they will look very, very good.

Happened to be driving by yesterday and caught a glimpse of the crown reflecting a beam of light through the dust.



https://i.imgur.com/CNxqTiC.jpg

I thought it was funny! :)

happened to be driving by yesterday and caught a glimpse of the crown reflecting a beam of light through the dust.



https://i.imgur.com/cnxqtic.jpg

fire the death laser!

How can we go about convincing them to fix the lighting while oil is well above $100/barrel? Half joking but half not.

I truly don't understand why it's so hard to just turn their lights on at night like everyone else lol

I truly don't understand why it's so hard to just turn their lights on at night like everyone else lol

Is's easy, if you chip in with their electricity bill, they'll do that.

Is's easy, if you chip in with their electricity bill, they'll do that.
Yeah OKC loves being cheap. That’s for sure.

Is's easy, if you chip in with their electricity bill, they'll do that.

Lol I get that, but its a large company with their own skyscraper, one that they purposely designed to have fancy lights on the sides. Doesn't make sense that they don't use them 90% of the time

I truly don't understand why it's so hard to just turn their lights on at night like everyone else lol

the top crown lights are on pretty much every night .. .. including last night

Maybe there's some Project 180 money left...

TIF for lights! lol

Noticed the overall improvement in downtown lighting. Seems as though we had this same discussion around this time for the last 3 years.

Nice to see FNC, Oklahoma Tower,, Strata Tower & Arvest Bank making an impressive skyline. Paycom Center's lighting has got to have made an
impression on visitors to our city especially those conventioneers across the street.

Is's easy, if you chip in with their electricity bill, they'll do that.

Haven't the tax payers chipped in enough already?

^^ Nope, I believe Devon didn't actually take TIPS money? I read somewhere they money went into Project 180 instead? Please correct me!

^^ Nope, I believe Devon didn't actually take TIPS money? I read somewhere they money went into Project 180 instead? Please correct me!

I think they are in a position to keep the lights on.

https://db0ip7zd23b50.cloudfront.net/dims4/default/b8c05b0/2147483647/resize/633x10000%3E/quality/90/?url=http%3A%2F%2Fbloomberg-bna-brightspot.s3.amazonaws.com%2F82%2F66%2Fc5161a8a43 779fdfc7168911ffef%2Flydiagraphicenergytax.png

How can we go about convincing them to fix the lighting while oil is well above $100/barrel? Half joking but half not.

I think your referring to the LED lights? I may be wrong, but I think they would basically need to re-cladded those sections that have the lights. I think if it was a software problem they would have fixed it a long time ago. Seems like an issue with wiring/lights in the cladding.

I think your referring to the LED lights? I may be wrong, but I think they would basically need to re-cladded those sections that have the lights. I think if it was a software problem they would have fixed it a long time ago. Seems like an issue with wiring/lights in the cladding.

Yep this has been the speculation in this thread for years. That the issue is physical and getting access to the LED tubes is likely a nightmare.

I didn't know those vertical strips were actually broken, I thought Devon had just quit bothering to turn them on.

I didn't know those vertical strips were actually broken, I thought Devon had just quit bothering to turn them on.

Think its a bit of both at this point.. also the fact they never fully programmed them from the beginning because they wouldn't allow the LED contractor enough access to the crane to get them fully operational. which is sad.
nothing looks worse than a new building with lighting that doesn't work or looks broken.

Think its a bit of both at this point.. also the fact they never fully programmed them from the beginning because they wouldn't allow the LED contractor enough access to the crane to get them fully operational. which is sad.
nothing looks worse than a new building with lighting that doesn't work or looks broken.

this is not what happened

this is not what happened

could be wrong. but I could have sworn that Pete had said similar about the company that put in the lighting were never able to fully sync it or program it due to limited use of the maintenance crane.

this is not what happened
What happened?

What happened?

I'm curious as well. because the lighting has been a disappointment from the jump. most structures of its age and even older have much more impressive lighting. the LED looks better dark than half done.

It’s a massive disappointment. I’ve seen tons of very complicated lighting schemes on buildings in LA, LV, Dallas, etc there’s no reason Devon can’t fix it it’s that they just won’t.

Devon is planning to add a canopy that will cover a walkway between the sidewalk and the glass connection between the Colcord and the Devon Tower.

HTTP://www.okctalk.com/images/pete/devon031422a.jpg


HTTP://www.okctalk.com/images/pete/devon031422b.jpg

I guess with oil over $100 a barrel, they have some extra cash to spend, lol.

I guess with oil over $100 a barrel, they have some extra cash to spend, lol.

if I were to guess, they’re hedged between $60-$80 currently, so not as much as you would think

Have they fixed that very top corner window yet

Devon is planning to add a canopy that will cover a walkway between the sidewalk and the glass connection between the Colcord and the Devon Tower.

HTTP://www.okctalk.com/images/pete/devon031422a.jpg


HTTP://www.okctalk.com/images/pete/devon031422b.jpg

Gives vast and conference rooms a new front door without having to go through the hotel now that they have sold/or selling hotel and wouldn’t control that access point. Makes sense to me.

It does make sense, but I thought the event stuff went with the hotel, didn't realize it was staying with Devon/Vast.

It does make sense, but I thought the event stuff went with the hotel, didn't realize it was staying with Devon/Vast.

The meeting rooms that were built between the Colcord and Devon Tower are still owned by Devon but the Colcord manages them.