ConocoPhillips to leave headquarters for smaller Energy Corridor location

A sign is displayed outside the ConocoPhillips corporate headquarters in Houston. A sign is displayed outside the ConocoPhillips corporate headquarters in Houston. Photo: Pat Sullivan, AP Photo: Pat Sullivan, AP Image 1 of / 11 Caption Close ConocoPhillips to leave headquarters for smaller Energy Corridor location 1 / 11 Back to Gallery

ConocoPhillips is moving out of its sprawling headquarters in the Energy Corridor and will relocate employees across Interstate 10 into a new building the oil giant has tried to sublease since earlier this year.

ConocoPhillips CEO Ryan Lance announced plans for the move Tuesday in an email to employees, the company confirmed.

"I'm excited about the prospect of having all our Houston-based employees near each other and in modern, cost-effective buildings," Lance said in the note.

The new headquarters will be housed in Energy Center Four, a new tower south of Interstate 10 at North Eldridge Parkway.

The company expects to start relocating employees in mid-2018 after the interior build-out is finished. The recently completed building has remained an empty shell as ConocoPhillips has tried to sublease the space.

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"This decision only impacts our Houston-area workforce, but it's part of our collective efforts to build a new future," Lance said in the announcement.

ConocoPhillips already occupies the building next to Energy Center Four. In 2015, the company consolidated Houston employees from its Lower 48 business unit into the adjacent Energy Center Three.

The two buildings, which are connected by a sky bridge, comprise 1,150,000 square feet of office space.

ConocoPhillips said it is still assessing options for its sprawling 600 N. Dairy Ashford campus, which was developed in the early 1980s.