McAfee & Taft is pleased to have served as legal counsel to Baker Hughes Energy Services, LLC (formerly known as GE Oil & Gas, LLC) in a complex transaction involving the donation of the Baker Hughes Energy Innovation Center property to Oklahoma State University. The state-of-the-art facility, which opened in 2016 as the GE Global Research Oil and Gas Technology Center at a cost of more than $110 million, consists of approximately 125,000 square feet of commercial and laboratory space and a structured parking garage and is located in Oklahoma City’s Innovation District.
The donation of the Energy Innovation Center represents a collaborative effort to bring industry experts and academia under one roof to innovate and advance key technologies. In addition to providing engineering students with experiential learning opportunities, the Center will also host classes for OSU’s Master of Petroleum Engineering program. Baker Hughes will continue to occupy a substantial portion of the Center and collaborate on technology issues.
“Baker Hughes has a long history of forming strong relationships with universities,” said Taylor Shinn, vice president for Baker Hughes Digital Solutions. “This alliance further advances our capabilities as an energy technology company and provides a unique opportunity to tap into OSU’s diverse academic population as we work together to drive innovation globally. The center’s location in Oklahoma City’s Innovation District gives this relationship a strategic advantage, as we unite higher education, research, energy, aerospace and advanced manufacturing into one ecosystem. Baker Hughes will also continue to invest in Oklahoma City’s diverse talent, supporting technology and inclusion programs in local schools and connecting academia with industry.”
McAfee & Taft provided counsel on all aspects of the transaction including real estate, intellectual property and tax issues. McAfee & Taft attorneys Joe Lewallen and Cole Marshall, along with Zach Oubre, Jeremy Black and Eleanor Burg, represented Baker Hughes in the transaction.