Summary
With annual profits up 15 percent, Oneok celebrated its successful first year with a dynamic construction plan. On April 24, 1982, new Chief Executive J.E. Tyree said the holding company for then 76-year-old Oklahoma Natural Gas would build a 16-story tower at Main and Seventh Street in Tulsa, creating enough room to consolidate all of its downtown operations and replace its beloved 54-year-old art deco headquarters.
God only knows what sort of catastrophe that plan might have created. With the fall of Penn Square Bank coming less than three months later, Oklahoma's energy scene would plummet into a historic recession. Before the decade's end Oneok would evade bankruptcy amid damaging take-or-pay lawsuits and plunging energy prices. Bearing the additional weight of a 350,000-square-foot construction project might have broken the camel's back.See the full content of this document
Extract
These Walls: Oneok Plaza in Tulsa
Instead, Oneok emerged with an even better building than planned due to a different blow to Tulsa - Occidental Petroleum's 1982 acquisition ...
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