Marathon Oil Corporation gives $1 million to Colorado School of Mines
GOLDEN, Colo., Nov. 11, 2008 – Marathon Oil Corporation (NYSE: MRO) made a $1 million gift to Colorado School of Mines in support of the Marathon Center of Excellence for Reservoir Studies, which will be located in the school’s new, state-of-the-art petroleum engineering building, Marquez Hall.
Steven B. Hinchman, Marathon’s executive vice president for technology and services, announced the gift at the conclusion of a recent lecture he gave on the Mines campus focused on the outlook for America’s energy security.
“Institutions like Colorado School of Mines serve an essential purpose by providing intellectual capacity and a stream of talented people who have played an instrumental role in our ability to efficiently and responsibly develop vital energy resources,” said Hinchman. “We are confident this contribution will help advance the outstanding work being undertaken by Mines to expand and enhance key programs that will prepare our future leaders in disciplines that are critical to the wellbeing of our country and the world.”
With Marathon’s gift, the school has raised more than $21 million toward the phase-one $25 million goal for private funding for Marquez Hall, a $45 million interdisciplinary teaching and research facility that will house Mines’ petroleum engineering department. Fundraising continues in order to reach the phase-one goal and groundbreaking is anticipated for summer 2009. An additional $20 million in funding will be required to complete the building’s second phase.
“Marathon’s exceptional commitment to Colorado School of Mines will help propel our leadership in securing energy resources for the future,” Mines President M.W. “Bill” Scoggins said. “We are honored to have Marathon as one of our leading corporate partners; their support ensures that we can continue to generate innovative research and educate outstanding professionals for the energy industry.”
Marathon Oil Corporation (NYSE: MRO) is an integrated international energy company engaged in exploration and production; oil sands mining; integrated gas; and refining, marketing and transportation operations. Marathon, which is based in Houston, Texas, has principal operations in the United States, Angola, Canada, Equatorial Guinea, Gabon, Indonesia, Ireland, Libya, Norway and the United Kingdom. Marathon is the fourth largest United States-based integrated oil company and the nation’s fifth largest refiner.
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 more information about Colorado School of Mines, visit www.mines.edu
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