I just saw that we decided to purchase the Marathon newly built HQ building.
This was not part of the plan originally, but was a last minute decision. Anyone have any ideas why we did that? What are our plans for that building?
Downsize Houston out of the Center?
Close Midland and move everyone there?
Close Bartlesville and move Accounting there?
Or was this just a last minute snag during closing and the building will be sold?
Does the big acquisition feel legitimate? Heritage building can’t even keep the roof over their head. Literally.
SP1/2 are synthetic leases as well. Highly doubt we would be condensing down into the MRO building.
Expect news about an “exciting new chapter” complete with a move soon. There’s a reason we’ve been only leasing these towers the past 6 years.
MRO employee here. It was a last minute surprise the synthetic lease got transferred over to a you have to buy this when they bought the company. It will help with the 1 billion in synergies though.
But what about the coffee?!
Plans are to sell it at a deeply discounted loss to satisfy an unquantifiable goal so that a bonus can be given to AOB.
Is the break room coffee there at least serviceable? If so sign me up.
Marathon built the building then leased it from itself through a synthetic lease. ConocoPhillips bought the entire Marathon company. All assets and liabilities. This includes offices.
I didn’t know this happened, do you have a source?