Originally Posted by
PhiAlpha
We'll have to agree to disagree on their financial position and its effect on their ability to build a new building. Remember, this was well into the planning phase when the price of oil was still $100/bbl. Devon is still betting on the price of oil rising to around $65 to $70 by year's end and increasing throughout next year. They are not making decisions on a long term investment, like an office tower, based on where oil is today....just as they didn't in 2009 regardless of their Class C office space at the time(the vast majority of their office space was still Class A or High Class B back then with the class C in first national making up a small part that was mostly storage). I will almost garuntee you that commodity pricing has not had any effect on 499's design. Now if Sandridge or CHK had proposed this, I would probably agree with you.
Additionally, Devon is not the only company involved here with a decent chunk of the building to be leased by someone else whether that be BOK or another unannounced company.
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