Box info: The University of Oklahoma announced Thursday it received a $6 million gift from ConocoPhillips in support of the School of Geology and Geophysics. The funds are expected to be used in the following areas:
$2.5 million for the endowment of post-graduate fellowships.
$1 million for undergraduate scholarships.
$1 million for the endowment of a visiting faculty position.
$1 million for renovation projects and the modernization of classrooms and laboratories.
$500,000 for the endowment of a fund to continue the modernization process.
By Tony Pennington
Transcript Staff Writer
Thursday was a "red letter" and big check day at the University of Oklahoma as David L. Boren announced a gift of $6 million from ConocoPhillips for broad improvements to the School of Geology and Geophysics.
About 100 students, faculty members and officials from both OU and ConocoPhillips gathered in Sarkeys Energy Center for the late morning presentation. A large red banner with white lettering that thanked the energy company for its support hung high behind a podium. It was there that OU President Boren stood and spoke about the university's relationship with ConocoPhillips and the company's impact on the students.
"This is the kind of occasions we like to have," Boren said of the largest gift in the history of the school of geology and geophysics. "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."
Also in recognition of the landmark gift, Boren said he would recommend the school be renamed the ConocoPhillips School of Geology and Geophysics. If the name change is approved, it will represent decades of support from Conoco Phillips. According to Boren, Thursday's donation has pushed the company's total commitments past the $33 million mark.
ConocoPhillips Executive Vice President of refining, marketing and transportation Jim Gallogly, a 1977 OU Law grad, handed Boren a symbolic oversized check and spoke about the bond between the university and his company.
"We are really proud as a company to have roots in Oklahoma," he said. "You can count on us once again to make this the best institution. This gift represents our continued support of the university and its long history in helping young minds meet the challenges of tomorrow."
To achieve that goal, OU will spend $2.5 million to endow five "highly competitive fellowships" designed to recruit top graduate students. Undergraduates will gain $1 million in new scholarship opportunities. Another $1 million will create a visiting faculty position ? OU will seek matching funds from the State Regents for the program. A million dollars will be spent to renovate selected spaces of the school of geology and geophysics and upgrade classrooms and laboratories. The final $500,000 will endow a fund to continue the modernization process.
Faculty member Dr. Doug Elmore was excited about the future of the department. He said the money was a big help and would supply increased educational opportunities for students.
"We haven't made all the decisions yet," he said about the $6 million. "Hopefully you will get a flavor. This gift is significantly important to the educational experience and will enrich the lives of our students."
OU geology senior Matt Totten also spoke to the crowd. The New Orleans, La., native said the generosity of alumni and corporations made it possible for him to attend college.
"I would not be able to attend OU without scholastic investments," the 21 year-old said. "Honestly, as geosciences students, we are really fortunate. The amount of money we get is unmatched."
Totten also said the financial support removed the burden from his family and allowed him to concentrate on his academic work. He then pointed out that there was no way to measure the impact of providing educational opportunities for young people.
"It's really invaluable," he said. "I really encourage more sponsorship of us in the future."
For the near future, it appears ConocoPhillips will continue its partnership with OU. Gallogly said there were more than 280 OU graduates working for his company, and it was in their interest to create avenues for student success.
Boren promised Gallogly, their faith and money would provide positive results.
"We accept the challenge," Boren said. "Not only to be good, but to be the best."
Tony Pennington 366-3541 schools@normantranscript.com
