Grab your boots Houston! BP is relocating to Denver while claiming that city will become the new globa energy center (Dallas: lease, how much)

[astrohip]

Originally Posted by Dallas retail updater

I dribbled hot coffee down the front of my shirt hearing this. What is going on? Did anyone else hear this news about BP's relocation and its opinion that Denver will become the new global center for energy?

Originally Posted by Dallas retail updater

I'm sure it wouldn't happen over night if they are right. See, the argument is that the nation is transitioning from being a major oil importer to that of an exporter of it. This transition will cause a shifting of the industry away from Houston eventually to elsewhere.

Look, I get it that you are trying to bad-news Houston, but at least get your facts straight. One small division, with less than 5% of BP's American workforce, is relocating to Denver because almost all of their work is in that area. That's it.

BP is a monster in off-shore oil. They just announced a multi-billion dollar new project in the Gulf. All that is based in Houston. They also have a small onshore drilling division, based in Houston, but with 75% of their work in the Rockies. They decided to move it to Denver, to cut down on travel expenses. End of story.

Originally Posted by Dallas retail updater

Indeed, I remember reading that there is 300 years of oil reserves trapped in the rock around Denver.

And there is 2,000 years of easier-to-get-to oil in the Permian.

Originally Posted by gwarnecke

This move is a bit strange, but maybe someone in BP thought employees were spending too much on travel up to Colorado and Wyoming.

Winner winner chicken dinner!

Originally Posted by Dallas retail updater

Of course, this is just the United States division.

Originally Posted by Dallas retail updater

When was the last time you heard of an energy company relocating away from Houston? Devon relocating wasn't the norm. If it happens again, I will bump this thread and we will talk about it. In other words, having more energy companies decentralize away from Houston in this new energy market is a real possibility. Take care.

Companies move all the time. They get a new CEO, he wants to be in Tulsa. They sign a giant lease for shale in the Permian, they move to Midland.

But for every one that moves out of Houston, ten more move here.

Sorry Dallas-person, but nothing has changed... Houston Rules and Dallas drools.

[Texas Ag 93]

Originally Posted by tstone

Yeah but how do taxes and insurance compare? Those are two big things that keep home values down here. Even compared to Central Texas a house with a significantly higher value would cost the same monthly. Creative financing seems to have made a comeback as well.

I can speak to this....property taxes in Denver are much lower. We paid about 1/3 there as we do here on a comparably priced home. And had I not lived in Stapleton (which is a special district taxed about 40% higher than the rest of Denver), my taxes would have been lower still. Of course, there is a state income tax....it's a flat tax of 4.63%. Homeowners insurance is very comparable between the two cities, unless you have to pay for flood and wind and hail here, which we do, but would point out is a voluntary purchase based on where you choose to buy a house.

Prices within Denver City and County are very high compared to here, but to people from California and other coastal areas, they are not bad. It's all about perspective. The average sales price in Stapleton where I lived (Denver proper) is in the mid 500's. However, it is still possible for you to find suburban homes around 400K. You will commute (no different than here) and you certainly won't get as much house for your money. Then again, look at the prices in places like Westbury and Meyerland where 40 year old Ranch houses go for 400K.

[Dallas retail updater]

Originally Posted by astrohip

Look, I get it that you are trying to bad-news Houston, but at least get your facts straight. One small division, with less than 5% of BP's American workforce, is relocating to Denver because almost all of their work is in that area. That's it.

BP is a monster in off-shore oil. They just announced a multi-billion dollar new project in the Gulf. All that is based in Houston. They also have a small onshore drilling division, based in Houston, but with 75% of their work in the Rockies. They decided to move it to Denver, to cut down on travel expenses. End of story.



And there is 2,000 years of easier-to-get-to oil in the Permian.



Winner winner chicken dinner!






Companies move all the time. They get a new CEO, he wants to be in Tulsa. They sign a giant lease for shale in the Permian, they move to Midland.

But for every one that moves out of Houston, ten more move here.

Sorry Dallas-person, but nothing has changed... Houston Rules and Dallas drools.

Shouldn't a person be able to come into the Houston section of this forum and ask an intelligent question? For every fifty energy companies relocating towards Houston, one will relocate away from it. It is noteworthy that a major energy company has decided to decentralize part of itself away from Houston.

[Dallas retail updater]

Originally Posted by Jack Lance

In other words you didn't hear or read any such claim by anybody at BP or elsewhere and this thread was just a way for you to rouse some controversy and get some kicks !


No company or industry is ever bound to any City or location so there has always been the possibility for change in any industry. We already knew that. Have a nice day !

You are the one messing up this thread. I inquired about the significance of the move. I should have gone to the Denver section to discuss this none event.

By the way, having energy companies decide to decentralize away from Houston would be great for the city. While Houston would still benefit from energy, having less of it would help in establishing a more diversified economy.

[Jack Lance]

Originally Posted by Dallas retail updater

Shouldn't a person be able to come into the Houston section of this forum and ask an intelligent question? For every fifty energy companies relocating towards Houston, one will relocate away from it. It is noteworthy that a major energy company has decided to decentralize part of itself away from Houston.

Your question (thread) involved fake news accounts was disingenuous and hardly intelligent IMO. So the answer to your question is , in this case NO !

[Dallas retail updater]

Originally Posted by Texas Ag 93

I can speak to this....property taxes in Denver are much lower. We paid about 1/3 there as we do here on a comparably priced home. And had I not lived in Stapleton (which is a special district taxed about 40% higher than the rest of Denver), my taxes would have been lower still. Of course, there is a state income tax....it's a flat tax of 4.63%. Homeowners insurance is very comparable between the two cities, unless you have to pay for flood and wind and hail here, which we do, but would point out is a voluntary purchase based on where you choose to buy a house.

Prices within Denver City and County are very high compared to here, but to people from California and other coastal areas, they are not bad. It's all about perspective. The average sales price in Stapleton where I lived (Denver proper) is in the mid 500's. However, it is still possible for you to find suburban homes around 400K. You will commute (no different than here) and you certainly won't get as much house for your money. Then again, look at the prices in places like Westbury and Meyerland where 40 year old Ranch houses go for 400K.

I should ask you this question being as you are from Denver. Is there any way in the future that the city of Denver will develop into the global capital of the energy business? I think a newscaster misquoted a BP representative which is why I started this thread.

[Jack Lance]

Originally Posted by Dallas retail updater

I should ask you this question being as you are from Denver. Is there any way in the future that the city of Denver will develop into the global capital of the energy business? I think a newscaster misquoted a BP representative which is why I started this thread.

Which Newscaster on which station ?

[a_guerrajr]

I think it is just lower 48 BP

[Dallas retail updater]

Originally Posted by Mr. Clutch

LOL. Might want to stick to retail. Energy companies leave Houston and consolidate in Houston all the time.

This is no big deal whatsoever, just like Exxon moving corporate from Irving would be no big deal. But you can keep wishing!

Actually, Exxon moving away from Irving would be great for that city. In turn, it would also be great for the Woodlands. It would be great for Las Colinas because of the prime property beneath and surrounding the Exxon headquarters opening it up to development.

So, it is all good.

In the early ninties, a huge number of energy companies moved away from Dallas relocating to Houston. Oddly, the loss worked out great for Dallas. The city didn't skip a beat.

[Texas Ag 93]

Originally Posted by Dallas retail updater

I should ask you this question being as you are from Denver. Is there any way in the future that the city of Denver will develop into the global capital of the energy business? I think a newscaster misquoted a BP representative which is why I started this thread.

I'm actually from here, but lived away from Houston between 2001-2015 in various places, most recently in Denver for 3 years before relocating back here in 2015 due primarily to a higher income potential and family considerations.

I don't know the answer to the question above. Will Denver be "the" global capital of the energy business? I can't see that happening at all, nor can I think of anyone who does (and I seriously doubt Denver would want that). Is it "a" rather large player? Well, yes, I would say it is, but it almost seems like their economy has been further trending away from energy over the past 10 years and more towards Tech and innovation (not to mention all the federal jobs that have been there a long time), as myself and Sunderpig2 previously mentioned.