Press release expected in the next few months: "BPX Energy to close Denver office and consolidate operations in BP's Houston Westlake Campus by the end of 2024"
To be followed by: "Kimmeridge Texas Gas to relocate headquarters and personnel to stunning Platte Street office in downtown Denver"
Guys, We are planning to do it little by little. The relocation packages aren't what they once were. They will use it as a way to weed out the bad apples at Bpx. Its not as cost prohibitive as you may think.
We are hearing so many complaints about Bpx and its poor leadership. The meetings I've been in are cringe worthy.
Permian Team, Reserves Team, Eagleford, and HR are due for upheaval and reset. Its bad.
Won’t be that many people relocating… that’s kinda the point (check the url of this website if you’d like a hint)
Do you know how many people they would have to relocate for this to happen? Which includes subsidizing home sales, in this market. Not exaggerating, but it’s likely over 100x more cost than the ~18 months of rent savings to make ‘26 savings. Building lease likely has a break clause >12 months rent since it’s a long term contract. Even if they did, there’s still costs associated in building work stations for all of them (like with archea). They would’ve done that after the acquisition if it was cost effective; DL anchored them there
The claim to know rather detailed information, yet refer to the timings as, “few months…”, indicates that you are neither informed nor intelligent. Should your, stirring of pots fail to materialize, can we expect that in “a few months”, you would proclaim your ignorance here or will you keep that tucked away in your celler?
BPX has no operating assets in Colorado. Hence no office needed. Murray shutting it down and it will be run out of Houston. Big cash saver
Considering BPX has been building out the building next to Denver HQ and moving people there, this seems highly unlikely.
I wouldn’t put money on that prediction.
Will the Denver BPX folks get relocation packages to move to Houston??