Bloomberg reported Monday that Occidental Petroleum plans to sell its Midland campus, Oxy Permian Plaza, and relocate employees to a nearby campus owned by Anadarko Petroleum, the oil producer it purchased earlier this year for $37 billion. Melissa Schoeb of Oxy told Bloomberg, “We have told our employees in Midland that they will be moving into the state-of-the-art building that Anadarka began constructing prior to the acquisition. The building is large enough to house our combined workforce, and we will begin the move when it’s ready for occupancy.” Bloomberg added, “Occidental is under pressure to sell assets and pay down debt after the acquisition.”
Oxy’s current building, which opened in 2015, is 212,000 square feet and consists of two office buildings joined by a conference center. Anadarko’s new campus in west Midland will feature two 5-story office buildings with a total of 350,000 square feet and an amenities building with fitness center, auditorium, health clinic and child care. It reportedly will accommodate up to 800 employees.