ConocoPhillips Gives $6 Million Gift in Support of OU School of Geology and Geophysics.

NORMAN, Okla. -- The University of Oklahoma's School of Geology and Geophysics - the first in the United States to offer a petroleum geology degree - is receiving one of the largest single corporate gifts ever made to OU, a $6 million contribution from longtime supporter ConocoPhillips.

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 Sarkeys Energy Center.

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.

"We are excited about the special long-term relationship between ConocoPhillips, OU and the state of Oklahoma," Gallogly said. "This gift represents our continued support of the University and its long history in helping young minds meet the challenges of tomorrow."

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 College of Engineering, Michael F. Price College of Business, and the Fred Jones Jr. Museum of Art.

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 School of Geology and Geophysics spaces in the Sarkeys Energy Center and to modernize and upgrade classrooms and computer laboratories used by geology and geophysics students. The final $500,000 will endow a fund that will allow the School to continually modernize and upgrade equipment in the heavily-used geology and geophysics teaching laboratories.

The School of Geology and Geophysics became a part of the new College of Earth and Energy in January 2006. The College also includes the Mewbourne School of Petroleum and Geological Engineering, the Sarkeys Energy Center Research Institutes and the Oklahoma Geological Survey.

ConocoPhillips has deep roots and a long history in Oklahoma. Headquartered in Houston, ConocoPhillips is an integrated petroleum company with interests around the world. For more information, go to www.conocophillips.com.

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.