Way back in 2017, Oklahoma oil overlord Larry Nichols gave an interview to the OKC Chamber of Commerce to reflect on his time as the founder, CEO, and liege lord of Devon Energy – the company he built into a Fortune 500 company, and one of the largest oil and gas producers in the United States.
In the interview, he was specifically asked why he never moved the company to Houston – the energy capital of the US – like everyone expected…
When J. Larry Nichols founded Devon Energy Corporation alongside his father in 1971, other business leaders in the oil and gas industry told him he needed to move to Houston in order to be successful.
“Every year our continued success allowed us to grow and prosper here, so there never was a real convincing need, despite what other people said,” Nichols remembers. “As the city has grown and prospered, any thought of moving elsewhere fades into distant memory because of Oklahoma City’s robust image. Each year is bigger and better than the last year.”
Well, so much for that “robust image.”
As I’m sure you’ve heard, Oklahoma City took a kick to the balls yesterday when Devon Energy and their asshole CEO, Clay Gaspar, did what many other greedy oil companies have done before them and announced they will be relocating their offices to Houston following a merger.
Their decision will have major implications on the local economy, real estate sector, and even politics, so naturally, The Oklahoman covered the important angle that matters most…
Okay, I’m just joking around. The "News and Improved" Oklahoman and Steve Lackmeyer actually did a good job covering the Devon news and its implications on OKC. If you want to be informed, I’d give it all a read over there.
If you're in the mood for propaganda, you could also go to News 9.
Seemingly prepared for the news, they had statements ready to go from civic, business, and political folks. They also made sure to talk to "optimistic" Oil Industry Leaders™ who comically tried to spin the news of one of OKC’s most storied companies awkwardly leaving for Houston as a good thing.
Then again, all that news stuff – even of the biased variety – is if you want to be informed. If you don’t, and instead just want cheap laughs, Facebook AI slop has you covered.
Jokes and laughs aside, this is really bad news for OKC.
First of all, we have to deal with the awkward embarrassment of our flagship city monument – the Eye of Devon – possibly being empty and available for lease until a hobbit throws a ring into Mt. Scott and destroys it. That’s not good for branding.
Second, this really is a WTF moment for the local economy.
Devon’s weight and influence helped lubricate just about every aspect of the local economic engine, especially in downtown, and their departure would be the equivalent of a broken head gasket!
“Patrick, I appreciate the engine metaphors, but don’t be an alarmist. Devon has told everyone they expect to leave a good chunk of their workforce in OKC.”
Yeah, that’s what Devon is saying, but just like old workers of Kerr-McGee and Phillips Petroleum would tell you, I don’t buy it. The current CEO is an A&M grad and Houston guy, and if you put some of Jim Traber’s truth serum in him, I’ll bet he’s happy as fuck to get out of OKC, return home, and take the company he essentially acquired through mergers with him.
All that being said, I think OKC will be fine.
Our city has been kicked in the balls many, many times over the years, and as Larry Nichols noted in his Chamber interview, we've seemed to overcome them. Plus, we're not as dependent on oil and gas as we used to be, the city keeps growing, and we've got other things going for us beyond one company's headquarters. And who doesn't want to shop in a 50-story Spirit Halloween superstore? That will be fun!
Anyway, we'll continue to cover this story, and the layoffs, transfers and new building tenants that come along with it. If you have any tips for us about it, be sure to hit us up.
Stay with The Lost Ogle. We'll keep you advised.
