EnLink Midstream LLC is relinquishing the lease on two floors of its headquarters at One Arts Plaza in Dallas.
EnLink officially moved into a 24-story building at Routh and Flora Streets in the Dallas Arts District in 2017, with an original space of approximately 157,000 square feet. At the time, EnLink reported more than 300 employees working at its Dallas headquarters.
The two-floor, or approximately 78,000-square-foot property will go on sale starting next year.
Other notable tenants at One Arts include homegrown developer Billingsley Co., law firm Holland & Knight and alternative investment firm Civitas. According to the real estate website, the building's office leasing is being handled by Thirty-Four Commercial, and Billingsley is managing the property.
EnLink did not respond Dallas Morning News'' Request for comments.
EnLink has undergone several changes over the past few years. In 2022, CEO Jesse Arenivas founded EnLink's predecessor company, replacing Barry Davis, who led the multi-billion dollar merger that created EnLink in 2014.
The company, which is listed on the New York Stock Exchange and is scheduled to report fourth-quarter and fiscal year 2023 earnings in late February, laid off 20% of its workforce in 2020. Approximately 300 people were affected and the initiative was linked to cost savings. Headwinds brought about by the oil price war between Russia and Saudi Arabia against the backdrop of the coronavirus pandemic.
The company has long said its main offices are in Dallas, Houston and Midland, and that a handful of senior executives have ties to Houston.
Mr. Arenivas and Executive Vice President and Chief Commercial Officer Dilanka Seimon list Houston as their location on their LinkedIn profiles. Adam Forman, executive vice president, general counsel and secretary, also lists Houston-related extracurricular activities on EnLink's resume, along with Seimon.
There have been clear changes in the Dallas area's energy sector, with Exxon Mobil leaving its longtime headquarters in Irving and beginning significant consolidation.
The energy and petrochemical giant, which moved its operations to Spring, acquired Plano pipeline operator Denbury in November for $4.9 billion.
Exxon also announced that it will acquire Irving-based Pioneer Natural Resources, a leading oil and gas exploration and production company, in a $59.5 billion transaction expected to close in the first half of 2024.
That said, major companies remain in Dallas, including Energy Transfer, Hunt Oil, and Matador Resources.
