I uploaded a bunch of new renderings to the top of the page, as this project is now deep into construction.
http://www.okctalk.com/images/pete/b...hes030915b.jpg
Printable View
I uploaded a bunch of new renderings to the top of the page, as this project is now deep into construction.
http://www.okctalk.com/images/pete/b...hes030915b.jpg
This project is going up right near my work. We have a clear view of the construction. It is a big project. There will at least have to be some kind of improvement at the Santa Fe / 122nd / Broadway interchange. That area is bad enough in the morning and evening drives now. I can only imagine what it will be like after BH opens. Anyone who drives through there every day knows what I mean.
There needs to be stoplights at Broadway and 122nd. A stop sign doesn't cut it anymore with all the traffic going through there.Quote:
Originally Posted by rezman
Yes... Also add a dedicated right turn lane stretching from Santa Fe to the Broadway ext for southbound Broadway, and use the current right lane for right turns and continued east bound,.... Giving two right turn lanes leading to southbound Broadway.Quote:
Originally Posted by bchris02
They are very close to opening the office building and the large warehouse structure to the east:
http://www.okctalk.com/images/pete/baker012316.jpg
Interesting. My neighbor just told me last week they were told they weren't moving into that building anytime soon. Could be late summer.
It sure looks done from the outside.
Parking lot finished, etc.
And maybe the construction is, they just seem to have no plan to move in in the next 6 months is my understanding.Quote:
Originally Posted by Pete
Looks better at night IMO
I get a good view of this place every day. I've been wondering when they're going to move in. I'm sure there's still interior work being done. It's been fairly well completed for weeks now, so I would have thought that at least the yards would start filling up with equipment by now. So far, it's been like a brand new ghost town.
Here are a couple of better photos. All 3 of the buildings look pretty much complete.
Now that Baker Hughes is taking over the GE Global Research facility, what about this campus?
Looks pretty empty every time I go past and it was supposed to bring 475 jobs. Counting cars in the parking lot from Google Earth which was taken on a Tuesday afternoon last January, I see about 150.
Anyone have insight?
None of the service companies have fully recovered from the bust yet. (Oil companies either for that matter)Quote:
Originally Posted by Pete
They all leveraged up to grow with high rates and high head counts. Rates are still down (getting better, but well costs are still remaining low) and the head counts are lower. So your stuck with debt that was projected to be financed with a better billable rate and more guys to bill it out. So it’s really strained a lot of them cause the debt doesn’t match the size. Today, you don’t need as many men now as you used too to do the same tasks.
We’re still aways away from a true boom, which is when this was built.
I believe they will be selling it soon. I’ve heard they will move a lot of the jobs to Claremore.
GE reported this morning on CNBC they intend to spin off Baker-Hughes into a separate company. This is part of a GE plan to raise multi-billions to reduce debt. They felt due to anti-trust trust reasons, there would likely not be a buyer but GE could get more to sell stock for their interest in the spinoff
That seems kind of hard to believe, location-wise, Claremore just makes zero sense for an oil and gas service company compared to OKC which is right in the middle of all the major oil and gas plays.Quote:
Originally Posted by In_Tulsa
It will take a while before GE sells off BH. A higher up at GE Research informed me he will be there for another 2 years or so. He doesn't expect any changes for at least 1.5 years.
They will wait for a time when the stock market is favorable to a new issue energy company. It could be a couple of years.
GE never intended to hold BH for a long time, but I'm guessing being a poorly run company riddled with debt it was a quicker decision