Significant changes come to Gulf Publishing and World Oil

Fig. 1. The custom-designed building at 3301 Allen Parkway was home to GPC for 73 years.

The global oil and gas industry has not been alone in experiencing significant changes during the 2001-2016 period.  So, too, have Gulf Publishing Company (GPC) and World Oil gone through an evolutionary process during the last 15 years.

The first significant event took place in the spring of 2001, when the SCF Partners/Battery Ventures ownership decided to sell GPC’s property at 3301 Allen Parkway in Houston. All told, the company had conducted the majority of its operations out of the headquarters building (Fig. 1) for 73 years, dating back to its completion in 1928. Sitting on a commanding promontory along Allen Parkway (Fig. 2), the GPC property was part of what became known in the 1930s as the “Craft District,” which included the Star Engraving Company building and Rein Company building.

Fig. 2. The tract of land that GPC owned on Allen Parkway was a commanding spot within what was known as the “Craft District.”

GPC moved out of the building during Easter weekend 2001, and leased space in the Three Greenway Plaza tower (Fig. 3) on Richmond Ave. The GPC tract was sold for nearly $6 million to Simmons Vedder & Co., which subsequently demolished the GPC building in May 2001 and built a 33-story luxury apartment tower.

Meanwhile, another equally significant change occurred on Sept. 1, 2001, when SCF Partners and Battery Ventures sold GPC to London-based Euromoney Institutional Investor plc (EII) for $10 million. Thus began a nearly 15-year period of stable ownership. Another significant change at GPC occurred in late 2001, when the new ownership at EII decided to shut down publication of World Oil’s sister magazine, Pipe Line & Gas Industry, after a 47-year run, citing economic and market restrains as the reasons.

Fig. 3. GPC’s first home away from Allen Parkway was in the Three Greenway Plaza building for about 19 months. Photo: Kurt Abraham, Editor.

A year later, in November 2002, GPC again changed quarters, this time moving into the neighboring Two Greenway Plaza building (Fig. 4). The move was partially motivated by Exxon Mobil’s need to lease a significant chunk of space in the Three Greenway building. GPC subsequently has remained in the Two Greenway building now for nearly 14 years.

Fig. 4. In late 2002, GPC move again, to what has been its home nearly the last 14 years, the Two Greenway Plaza building. Photo: Kurt Abraham, Editor.

In addition to operational changes, a few personnel shifts occurred during the period, as well. In 2009, long-time GPC President John D. (Rusty) Meador departed, and was succeeded by John T. Royall. On the editorial side, Perry A. Fischer took over from Robert E. Snyder as chief editor of World Oil in 2002 and held that position until departing in November 2009. Pramod Kulkarni took over as chief editor in the spring of 2010. He remained in that role until leaving GPC in January 2016, at which time Kurt S. Abraham was promoted to chief editor of World Oil.

As alluded to earlier, after nearly 15 years of ownership, EII decided to eliminate energy as one of its publishing categories. Accordingly, EII agreed in April 2016 to sell GPC to a management buyout led by GPC President and CEO John Royall and Houston investor Russell Denson, with financing from Main Street Capital Corporation. The new independent company retains the name, Gulf Publishing Company, and will continue to publish its three magazines, including World Oil, Hydrocarbon Processing, and Gas Processing, while adding the London-based journal, Petroleum Economist. GPC also produces events and data intelligence for the energy industry.

About the Authors

Kurt Abraham

World Oil

Kurt Abraham kurt.abraham@worldoil.com