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Grand Rapids company strikes black gold

Rizzo

By Rizzo
in Grand Rapids

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Rizzo City

Rizzo

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Grand Rapids company strikes black gold

WXMI Fox 17 is reporting that the Wolverine Oil and Gas company has found one of the largest oil deposits in the nation. The 500,000 acre site is located in Utah and is currently consider the largest find in 30 years. The Grand Rapids based comapny is expected to be able to produce some 1 billion barrels of high quality crude from this area.

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snoogit Town

snoogit

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Grand Rapids company strikes black gold

WXMI Fox 17 is reporting that the Wolverine Oil and Gas company has found one of the largest oil deposits in the nation. The 500,000 acre site is located in Utah and is currently consider the largest find in 30 years. The Grand Rapids based comapny is expected to be able to produce some 1 billion barrels of high quality crude from this area.

<{POST_SNAPBACK}>

thats about a month of oil :P

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superNOVA Whistle-Stop

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The funniest part - from what I gather this company is owned by a single guy. He is situated to pretty much take a jump to the top of the worlds richest list over the next decade or two. Think of him being able to buy DeVos and VanAndel five to ten times over. Damn near as rich as Bill Gates is at the moment.

That is a lot of cash, and that is also under the assumption that prices will remain the same - odds are they will increase as fast or faster than inflation. I am guessing if there are one billion barrels minus the 12% state and fed cut he is looking at from between $30 billion and $80 billion.

That is a lot of money. The best news - he is the West Michigan type. Very religious (reminds me of a few other rich people), giving, and most likely happy with where he is and his community ties. I think the local area will see a lot of this money over the next few decades.

***** Better yet - they are HQ'ed downtown.

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snoogit Town

snoogit

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The funniest part - from what I gather this company is owned by a single guy.  He is situated to pretty much take a jump to the top of the worlds richest list over the next decade or two.  Think of him being able to buy DeVos and VanAndel five to ten times over.  Damn near as rich as Bill Gates is at the moment.

That is a lot of cash, and that is also under the assumption that prices will remain the same - odds are they will increase as fast or faster than inflation.  I am guessing if there are one billion barrels minus the 12% state and fed cut he is looking at from between $30 billion and $80 billion.

That is a lot of money.  The best news - he is the West Michigan type.  Very religious (reminds me of a few other rich people), giving, and most likely happy with where he is and his community ties.  I think the local area will see a lot of this money over the next few decades.

*****  Better yet - they are HQ'ed downtown.

<{POST_SNAPBACK}>

If it brings about the Lyon and Ottawa Tower, the more the merrier! :P

But if it brings about the jesusland school of christ, this might be a problem.

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snoogit Town

snoogit

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heh another fear: he skips town and heads for a suburb 

^Assuming he dosent live there already...

<{POST_SNAPBACK}>

true, but id hate to see something that would benefit downtown move to Walker, Kentwood, or any of the other suburbs.

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GRCentro Hamlet

GRCentro

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Why is it that Grand Rapids' largest corporations are sprawled far from the city core? Alticor, Steelcase, Spartan, Meijer...they have virtually zero presence downtown. Just think how much different dowontown would be if even a few of the large companies each had a high-rise headquarters. With that, of course would come the necessity for more hotels, housing, retail, and entertainment.

What can the city do economically to encourage companies to come downtown?

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joeDowntown Metropolis

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Amway was working on building a tower downtown for their Asia division at one time (parking lot south of the Plaza Towers). I still believe Alticor could have some sort of corporate presence downtown someday, but it will probably be a division and not the whole headquarters. While it would be awesome, I can't imagine any of the large corps uprooting their headquarters to move downtown "just because". I think the best bet is that the Meijer, Alticor or Steelcase of our generation is downtown already, slowly building into a leader in some industry... Now who that is, nobody knows. :)

I still think once VAI makes a major discovery you will see drug makers cozy up to Grand Rapids. Go VAI go!

Joe

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superNOVA Whistle-Stop

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Most of the companies in GR are not really office intensive. Steelcase for example actually has few office workers compared to the average multi billion corporation. Meijer is also like this, they fit them all into a pair of four storey buildings in Walker - and there is tons of room to spare. Alticor could, but they will never leave Ada.

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snoogit Town

snoogit

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Most of the companies in GR are not really office intensive.  Steelcase for example actually has few office workers compared to the average multi billion corporation.  Meijer is also like this, they fit them all into a pair of four storey buildings in Walker - and there is tons of room to spare.  Alticor could, but they will never leave Ada.

<{POST_SNAPBACK}>

Meijer is still 8 floors of office space, which is the largest office useage in the area

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snoogit Town

snoogit

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My dad still harbours reservations about the Pyramid. He thinks it was a boat load of crap, I would have to agree....

<{POST_SNAPBACK}>

well it does kind of look like a pile of crap, short squat and comes to a point

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Josh Whistle-Stop

Josh

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Meijer has the two large office buildings in Walker, but they also own a very large lot right next to them. As they are building more and more stores, they may need to expand and construct another building on this site. Maybe we can get them to move downtown before this happens; I'm sure a nice office skyscraper would have enough space for their expansions and growth. :rolleyes:

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snoogit Town

snoogit

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Meijer has the two large office buildings in Walker, but they also own a very large lot right next to them. As they are building more and more stores, they may need to expand and construct another building on this site. Maybe we can get them to move downtown before this happens; I'm sure a nice office skyscraper would have enough space for their expansions and growth. :rolleyes:

<{POST_SNAPBACK}>

Theres also the problem of Fred, he is 84, his days are numbered. It would take Fred telling the board to build D-town

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GRDadof3 Ecumenopolis

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Meijer has the two large office buildings in Walker, but they also own a very large lot right next to them. As they are building more and more stores, they may need to expand and construct another building on this site. Maybe we can get them to move downtown before this happens; I'm sure a nice office skyscraper would have enough space for their expansions and growth. :rolleyes:

<{POST_SNAPBACK}>

I don't mean to rain on anyone's parade, but if you talk to anyone who worked or works in management/corporate at Meijer recently, they will tell you that it looks a lot like Meijer is getting themselves all dressed up for a buyer.

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egrguy Burg

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i know, i work for a company out in the exurbs and id love for it to move dt, but i just dont see it happening anytime soon.

as for the other companies, there were rumours of amway building downtown, but at this point... seems quite remote.

i think the best chance would be for dt to lure a suburbian company that could greatly benefit with being downtown. grocers, furniture companies etc just dont come to mind like a drug/health company that could directly benefit from the swelling health sector dt.

as for meijer selling, nothing in the press would lead someone to believe that they are gunning to go public. with razor thin margins grocers arent big ticket items for private investment groups either. besides, you also have to look at potential buyers in the market. kroger? albertsons? safeway? its definitley possible that a sale is imminent but there has nothing to lead to that conclusion, unlike Spartan.

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Rizzo City

Rizzo

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IF they do, it will be the ultimate sell out to GR.... I think it would put a bad name on the Meijer brand from here now out....locally. I'd boycott that place up a storm...which is unlike my character because I am a loyal customer.

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