University Receives Five Million Dollar Donation
The University of Wyoming has received nearly five million dollars from Hess Corporation to support research.
Governor Matt Mead, University of Wyoming President Dick McGinity and Greg Hill, president and CEO of Hess Corporation, made the announcement yesterday at the University of Wyoming campus.
This donation marks Hess’s second multimillion dollar gift in two years. The most recent gift is $4.3 million. Governor Matt Mead announced yesterday that the money donated by Hess will be matched by the state, bringing the total recent donation to nearly ten million dollars.
The money will support UW’s new High Bay Research Facility and essential technology and equipment used in the facility for research into unconventional oil and gas reservoirs.
According to UW President Dick McGinity, this marks the completion of funding for the High Bay Research Facility. He said yesterday, “With today’s announcement, UW has partnered with the state of Wyoming and eight energy companies to raise more than $30 million for the High Bay Facility.”
Companies partnered with UW for the project include Arch Coal, Baker Hughes, ExxonMobil, Halliburton, Hess, Marathon, Shell and Ultra Petroleum.
McGinity went on to say that the facility will be 60,000 square feet and will be located on North 19th Street near the Centennial Complex. It is expected to be completed in 2016.
The recent donation by Hess brings the company’s total contribution to ten million dollars, making it the university’s largest ever corporate sponsorship.