Devon Energy Seeks Approval for $350M High Rise in Oklahoma City

Efforts to build a new $350 to $400 million high-rise office tower in Downtown Oklahoma City for locally based Devon Energy continue to move forward as the company has submitted a proposal to the Oklahoma City Urban Renewal Authority. The company was founded in Oklahoma City in 1971. Today, Devon employs about 1,350 people there.“We are rapidly growing with our employees spread out over five buildings in Downtown Oklahoma City,” a Devon spokesperson told CPN today. “We are looking for efficiency by bringing everyone into one location. We are moving forward with this goal and hope to be located in a new building in 2012. This is not a tentative deal. We are committed toward that end.” A new building may need to hold as many as 2,000 people when it is complete, the spokesperson said. The site under examination is currently occupied by a parking garage and is controlled by the Urban Renewal Authority. The company has been actively considering the construction of a new headquarters building in downtown Oklahoma City for some time now, according to the spokesperson. If Devon’s proposal is approved, the more than 1 million-square-foot building could take up to four years to complete. The proposed building project would fit well with the city’s long-term plan to extend a nearby park to the Oklahoma River. The new building would be on the northern edge of the “Core-to-Shore” development. According to reports, the building could be up to 37 stories tall, which would make it the tallest skyscraper in Oklahoma City. Devon officials said the building would be certified through the Leadership in Energy and Environmental Design (LEED) system. LEED buildings are built to the most advanced standards of environmental technology. Oklahoma City-based Devon Energy Corp. is an independent energy company engaged in oil and gas exploration and production. The firm is one of the world’s leading independent oil and gas producers and is included in the S&P 500 Index.