Colorado School of Mines receives $500,000 gift from Devon Energy

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Colorado School of Mines receives $500,000 gift from Devon Energy

GOLDEN, Colo., Sept. 19, 2008 – Devon Energy Corporation announced a $500,000 gift to the Colorado School of Mines Foundation to provide funding for a laboratory in a new petroleum engineering facility planned for the Mines campus.

The Devon Energy Drilling Fluids Laboratory will enhance the school’s world-class petroleum engineering program and provide students with resources to conduct advanced oil and natural gas drilling research. The energy industry will also benefit from research conducted in the lab as companies continue to seek new and innovative technology to produce oil and natural gas.

“We are excited to partner with the Colorado School of Mines and provide support for the drilling fluids lab,” said Devon President John Richels. “This lab will help the school build upon its success in developing skilled graduates at a time when the energy industry needs a pipeline of technical employees to help keep pace with the nation’s growing demand for energy.”

Groundbreaking on the $25 million first phase of the building is anticipated for late spring 2009. The project will more than double the current space allocated for the petroleum engineering program and will significantly expand the school’s teaching and research facilities.

“Colorado School of Mines is proud of our strong partnership with Devon Energy,” said President M.W. “Bill” Scoggins. “This outstanding commitment to our new, state-of-the-art facility will enhance our educational and research initiatives in energy and better prepare students to enter the workforce.”

Devon Energy Corporation is an Oklahoma City-based independent energy company engaged in exploration and production. Devon is the largest U.S.-based independent oil and gas producer and is included in the S&P 500 Index. For additional information, visit www.devonenergy.com.

Founded in 1874, Colorado School of Mines was established to serve the needs of the local mining industry. Today, the school has an international reputation for excellence in both engineering education and the applied sciences with special expertise in the development and stewardship of Earth’s resources. For information, visit www.mines.edu.

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Contact: Karen Gilbert, 303-273-3541


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