Houston-Based Midstates Petroleum Moving Headquarters To Tulsa

Friday, December 26th 2014, 2:55 pm
By: News On 6

Over the years Tulsans have watched as the headquarters of one company after another has moved away.

Many are oil industry based companies that moved to Houston – like Citgo and Parker Drilling – but one company is reversing that 30-year trend and making the move from the gulf to Green Country.

A spokesman with Midstates Petroleum confirmed the company is moving its headquarters to Tulsa from Houston after the company put all of its oil properties in Louisiana up for sale.

It's a move many hope is just the beginning.

With the announcement by Midstates Petroleum that they will move their headquarters to Tulsa, a 30-year trend of companies moving out could be reversing.

“As a native Tulsan I've seen a lot of companies leave Tulsa and transition to the Houston area. I think back during the 80s and 90s a lot of that movement was due to the Gulf of Mexico exploration, with the shale revolution and the hydraulic fracking you've seen a lot of companies, what I like to call, come back onshore," said CFO for Eagle Energy Exploration, Ben Kemendo.

Back in 2012 Eagle Energy Exploration sold assets to Midstates Petroleum and still holds a major share and interest in the company.

Kemendo said a company like Midstates relocating their headquarters to Tulsa is a step in the right direction.

"Lots of people here make their money in the oil and gas business, whether they're a service company or a service provider, whether they are exploration/production companies, like we are, there are still a lot of people that they're living comes from oil and gas," he said.

Mike Neal and the Tulsa Chamber agree.

"So we really have a very well trained and very good seasoned workforce and we're bringing more young people to this community with energy education and energy backgrounds, and so we really see that this is a trend that we hope will continue," said Neal

A Midstates Petroleum spokesman said the company will be expanding its existing offices in downtown's historic Kennedy Building to make room for the move.

The move comes at a time when Tulsans are ready to see companies bring business back to Green Country.

"I think, overall, it benefits all of us," Kemendo said.

Right now, there's no word on if the move by Midstates Petroleum will create new jobs initially.