Kerr-McGee sold to Houston corporation

[jbrown84]

story at NewsOK

This doesn't mean the loss of many jobs (190), but they are executives mostly. More importantly we're losing a company that has a lot of history of leadership in Oklahoma City. Also, the merger will mean Devon loses its status as the worlds largest independent oil and natural gas producer. Too bad Devon didn't buy them...

[fromdust]

we all knew they would move to houston eventually, its just really hard when it finally happens.

i didnt even realize they were for sale.

[Okie]

They weren't. They got a compelling offer that they had no choice but TO accept, or else they could be booted out of a job by their bosses, the shareholders.

Devon buy them? Interesting idea. I would like to see Devon and Chesapeake merge and buy Anadarko for pay-back, but it won't happen... Devon and Chesapeake will continue to buy oil companies nontheless. We lost Kerr McGee, but we'll gain some corporations too... in fact, this summer Rialta Energy, bought by Tom Ward, will be officially relocated to OKC from some God-forsaken west Texas place, bringing about 100 HQ employees.

[Okie]

Damn I just realized just how much I'll miss sitting in the Kerr McGee skybox...

I don't think I'll ever get over that. And not to mention all my friends over there. Man, Luke Corbett is having a really bad life right now...

But in the end, we all win. What really ticked me off is the Anadarko CEO talking about how it just eats him up inside to see Kerr McGee no more. The bastage.

[shane453]

Their Braniff Towers properties will still be developed by TAP, plus more developments were announced vaguely on Friday- 70 acres on the south bank of the Oklahoma River and KMG surface lots from 4th to 6th on Broadway will be developed by TAP.

[Okie]

Not everyone involved in those development deals are committed so that's why it's best if he hadn't dispensed that info, but he did, and I don't blame him. There should be a state law against the press hounding you after your company goes under...

Anthony McDermid was reeling when he saw that word had gotten out. Not a happy camper. (I'll be surprised if he ever gives Steve Lackmeyer another quote ever again!)