The
The gift is the largest in the history of the tradition-rich School, which was founded in 1900 and has graduated more than 5,000 students.
OU President David L. Boren joined James L. Gallogly, ConocoPhillips executive vice president of refining, marketing and transportation, in announcing the gift, which will benefit students through increased scholarships and fellowships and the creation of a visiting professorship position as well as support renovation and upgrade of the School’s home in the
Boren said, “The ConocoPhillips’ gift continues a long history of support for education by ConocoPhillips, which extends back to the founders of the two companies, Frank Phillips and E.W. Marland, who were among the very first private donors to OU in the university’s history. This gift will create new opportunities for students through scholarships and new laboratory facilities.”
Boren said that in recognition of this gift, he will recommend to the OU Board of Regents that the School be renamed as the ConocoPhillips School of Geology and Geophysics.
Both as the legacy companies, Conoco and Phillips, and as the new ConocoPhillips, their ongoing corporate commitment and support of the University are unparalleled, Boren noted. This new gift brings the total OU gifts and pledges from ConocoPhillips to more than $33 million.
The company’s broad and generous support has included faculty positions in International and Area Studies; the SPIRIT Scholars scholarship program; and new facilities for the
More than half of the new $6 million gift will be designated for student support, including $2.5 million to endow highly competitive fellowships to recruit and support top graduate students, and $1 million for undergraduate scholarships.
Another $1 million will endow a visiting faculty position, allowing the school to recruit individuals from the energy industry or other institutions to spend a semester or a year and to help OU stay current with the latest innovations in petroleum geology, geology and geophysics. OU will request matching funds from the State Regents Endowment Program to bring the total endowment for the visiting position to $2 million.
Additionally, $1 million will be used to support renovation of
The
The Conoco Oil Pioneers of Oklahoma exhibit at the Sam Noble Oklahoma Museum of Natural History honors 60 energy industry founders, including Frank and L.E. Phillips, who established Phillips Petroleum Co. in Bartlesville, and were later joined by their brother, Waite; E.W. Marland of Ponca City, whose Marland Oil Co. was acquired by Conoco in 1928; and Dan Moran, who was president of Conoco from 1929 to 1947.
Recommended Reading
Quantum Capital’s View on AI: Lots of Benefits, Pain Points
2024-05-16 - The energy industry is lagging in the race to implement AI, but Sebastian Gass, CTO of Quantum Capital Group, offered a few solutions during Hart Energy’s 2024 SUPER DUG Conference & Expo.
Aramco Credits Adaptability, Collaboration for Driving Innovation
2024-05-15 - Aramco’s implementation of different approaches has led to the creation and commercialization of newer products, said Max Deffenbaugh, principal scientist for Aramco, at the 2024 Offshore Technology Conference in Houston.
OTC: E&Ps Improving Operational Safety with Digitization
2024-05-13 - Artificial intelligence and the digitization of the oilfield have allowed for several improvements in keeping operators out of harm’s way, panelists said during the 2024 Offshore Technology Conference.
Exclusive: Cost-effective Benefits of Extracting from Mature Assets
2024-05-13 - Baker Hughes' well abandonment leader Bart Joppe details the importance of extracting resources from mature assets and the company's approach to managing a well, in this Hart Energy Exclusive interview.
TGS Starts Up Multiclient Wind, Metaocean North Sea Campaign
2024-05-07 - TGS is utilizing two laser imaging and ranging buoys to receive detailed wind measurements and metaocean data, with the goal of supporting decision-making in wind lease rounds in the German Bright.