http://blog.chron.com/primeproperty/2015/10/report-conocophillips-in-talks-to-buy-office-tower-for-275-million/
12 replies (most recent on top)
Maybe the Houston Chronicle needs to further update their article?
Issued today regarding news about office building purchase - "Several news articles are circulating concerning ConocoPhillips’ intention to purchase Energy Center 3 in Houston and have created a lot of questions. These articles are inaccurately reporting that ConocoPhillips is purchasing the building when, in fact, we intend to continue leasing but at a lower cost. This reporting is inconsistent with our company-wide efforts to reduce costs. ConocoPhillips routinely evaluates its real estate portfolio and other real estate opportunities in order to identify and capture cost savings for the company. I want to assure everyone that any actions we pursue relative to our real estate portfolio would be to spend less, not more, in keeping with our company-wide efforts to manage costs. Our lease at Energy Center 3 remains in effect."
Buy a few more private jets to go with the new building.
Ryan Lance can't even say "company"... cump-knee... GTFO
Timing is everything right time to buy? Maybe. But during the middle of layoffs?. There are No words.
Yes stay focused on the core business and buy a building in Houston during a downturn in the industry.
Anonymous173540 YOU are Pathetic too
Anonymous173536 YOU are really Pathetic! like your leader Ryan. Off course you missed the point and will always miss the point!
As Anonymous173507 said, "timing is everything!"
This is the same building they started building before the downturn. compared to the $1.6M they spend per month for one of the buildings they partially use now, it's a sound financial decision.
It's kind of sensless
They pay $1.6M per MONTH for one of the buildings in Houston. A purchase seems better than flushing millions every month
You know the old saying "Timing is everything." Well Ryan, you just took everything and screwed it up.
Probably to move the rest of the Bartlesville crowd and consolidate some more.
THIS IS ABSOLUTELY UNBELIEVABLE!!!!
OMG the unmitigated gall of this company. Layoff hundreds for people. Scream at every town hall meeting of cutting costs and the bastards spend $270 million to buy a building. This company is truly going to hell in handbasket that is being carried by Mr. Lance. The entire company has lost the trust of investors, employees and the public.
OK, that's smart, right?
Ryan Lance is bumbling idiot!
Way to go Ryan, Very great leadership, you really set a new standard to LEADERSHIP.
Lay off hardworking People to Save money and buy concrete!
Very strategic move like all the previous moves.