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WPX Energy unveiled plans to build a new headquarters in downtown Tulsa on Friday.

The 11-story, 260,000-square-foot tower will be built on the block of property where the old Spaghetti Warehouse is located.

Construction is expected to begin in 2020 and wrap up in 2022.

WPX is an exploration and production company that became an independent in 2011 after it spun off from Williams Cos. It employs 450 people in Tulsa with a local payroll of $55 million.

As an exploration and production company, WPX doesn’t operate in Oklahoma. Its major land holdings are in the Permian Basin in west Texas and New Mexico and the Williston Basin in North Dakota.

Company officials at times in the past, and just prior to purchasing the land for this project, have looked at other areas to relocate that might have made more sense, including Denver, Dallas and Houston.

“At the end of the day we decided the best action is to stay in Tulsa. We have a great team in place, and this allows us to do something for the community that is very positive,” said Rick Muncrief, WPX CEO. “We are betting on the team we have and the assets we’ve put together, and part of that strategy is staying in Tulsa and growing from where we are today.”