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Started By
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re: When did big oil leave NewO?
Posted on 9/15/19 at 9:26 pm to GREENHEAD22
Posted on 9/15/19 at 9:26 pm to GREENHEAD22
I think Chevron is still on the northshore. The other major companies trickled to Houston in the 1980s if not earlier.
2
Posted on 9/15/19 at 9:31 pm to biglego
That's just a satellite office and they have downsized the staff there.
CVX has always been headquartered in Cali.
CVX has always been headquartered in Cali.
Posted on 9/15/19 at 9:38 pm to biglego
quote:
I think Chevron is still on the northshore.
Nah, they have a small group there.
Shell still has a decent group in Nola in the Hancock Whitney building. Damn that hurts to type that.
Posted on 9/15/19 at 9:39 pm to GREENHEAD22
quote:
Okay, I know all about why they left. I am curious as to when they did and who, particularly the majors. And was it their headquarters?
It was due to the bankruptcy laws in Texas versus Louisiana. If you filed BK when the oil industry collapsed in Louisiana you lost everything but 15k but if you filed BK in Texas then you lost everything but your private residence so all of the oil/gas execs & wildcaters moved to Texas and bought the biggest house they could so the company would BK but themselves personally got to keep their enormous estates so the creditors couldn't touch them. It was all about self preservation and Texas & Florida for that matter had the best BK laws in the country.
This post was edited on 9/15/19 at 9:40 pm
Posted on 9/15/19 at 9:40 pm to MrLSU
quote:
bankruptcy laws in Texas versus Louisiana
quote:
Texas & Florida for that matter had the best BK laws in the country.
quote:
bankruptcy
Posted on 9/15/19 at 9:42 pm to MrLSU
That is interesting, think I have heard that before.
Wish my grandfather would have done that.
Wish my grandfather would have done that.
Posted on 9/15/19 at 9:42 pm to MrLSU
How many Louisiana Wildcatters do you think there are or was? About none.
Posted on 9/15/19 at 9:45 pm to Martini
quote:
How many Louisiana Wildcatters do you think there are or was? About none.
You had several thousand wildcatters in Louisiana. Patrick Taylor and Doc being two of the most well known.
Posted on 9/15/19 at 9:48 pm to notiger1997
Wrong. Cvx presence in Covington is larger than Shells in NO. The Northshore office is their GOM headquarters.
Posted on 9/15/19 at 9:55 pm to GREENHEAD22
When it started going the way of SJW shithole
Posted on 9/15/19 at 9:56 pm to GREENHEAD22
quote:
NewO
WTF is this?
NOLA works just fine, thank you.
Posted on 9/15/19 at 9:59 pm to lsugradman
Sorry. I must have read the OP wrong and gave a dumb response
Posted on 9/15/19 at 10:07 pm to MrLSU
quote:
Patrick Taylor and Doc being two of the most well known.
And neither left for Texas.
Posted on 9/15/19 at 10:09 pm to Martini
Amoco left after the merger with BP
Posted on 9/15/19 at 10:17 pm to GREENHEAD22
No major oil co ever had its corporate HQ in Nola.
Some notably Shell had a significant presence and their regional executive in the 90's lobbied hard to remain. Eventually he lost to the Houston consolidation trend started during the mid 80's oil price crash.
Nola and LA politics, corruption, higher taxes, lack of quality public education, higher housing prices and Nola crime all played a part.
Once the internet became a reliable data comms method around the mid 90s, there was simply no good reason to keep engineering or staff offices close to production sites offshore LA.
It's quite remarkable looking back at what we've lost, and all to predictable at the time.
Some notably Shell had a significant presence and their regional executive in the 90's lobbied hard to remain. Eventually he lost to the Houston consolidation trend started during the mid 80's oil price crash.
Nola and LA politics, corruption, higher taxes, lack of quality public education, higher housing prices and Nola crime all played a part.
Once the internet became a reliable data comms method around the mid 90s, there was simply no good reason to keep engineering or staff offices close to production sites offshore LA.
It's quite remarkable looking back at what we've lost, and all to predictable at the time.
Posted on 9/15/19 at 10:22 pm to Mr Breeze
While not thier global HQs, that the Hague, One Shell Square had to be the US HQs correct?
The 4 biggest buildings in NewO were all orginally oil company buildings.
The 4 biggest buildings in NewO were all orginally oil company buildings.
Posted on 9/15/19 at 10:23 pm to MrLSU
Aren’t BK laws federal?
Posted on 9/15/19 at 10:30 pm to lsugradman
quote:
Wrong. Cvx presence in Covington is larger than Shells in NO. The Northshore office is their GOM headquarters.
CVX has moved the majority of their GoM business unit to Houston
Posted on 9/15/19 at 10:30 pm to GREENHEAD22
quote:
While not thier global HQs, that the Hague, One Shell Square had to be the US HQs correct?
One Shell Plaza was built one year before One Shell Square.
Posted on 9/15/19 at 10:36 pm to GREENHEAD22
1974
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