Lackawanna College announces $2.5 million gift from Cabot Oil & Gas
Gift to fund the School of Petroleum & Natural Gas
SCRANTON, Pa., April 11, 2014
SCRANTON, Pa., April 11, 2014 /PRNewswire/ --Lackawanna College today
announced a gift of $2.5 million from Cabot Oil & Gas Corporation that will
directly fund the School of Petroleum & Natural Gas located in New Milford,
Pa. This marks the largest single private donation in the history of
The School of Petroleum & Natural Gas was established in 2009 at the beginning
of Marcellus Shale industry operations in the area and has developed its
curriculum to meet the specific needs of the growing industry. The current
job placement rate for graduating students is 90%.
"Lackawanna College saw an opportunity a few years ago and took a leap into
education in support of the oil and natural gas industry," explained Mark
Volk, President of Lackawanna College. "Our partnership with Cabot enhances
tremendously the ability of the School of Petroleum & Natural Gas to provide a
world-class education designed to prepare a ready workforce that fits the
needs of the multiple companies across the industry. Beyond just an investment
in Lackawanna College, through this collaborative effort Cabot is making an
investment in our students and our community."
The gift will assist the School of Petroleum & Natural Gas in its goal to
become a nationally-recognized, first in class program in the field of
petroleum and natural gas technology. Funds will be directed toward creating a
$1 million endowment that will provide continuing support for student
scholarships and help meet the long term needs of the school. An additional
$1.5 million will be used for state-of-the-art equipment, training, staff and
faculty development, and student interactive experiences and internships.
Phil Stalnaker, Vice President of the North Region for Cabot, expressed the
company's interest in becoming invested in the program at the School of
Petroleum & Natural Gas. "Cabot is pleased to announce this historic gift to
Lackawanna College, a leading institution that has fully embraced the
opportunity to train its students locally to become members of the global
natural gas industry," he explained. "This opportunity will ensure that
qualified, hardworking individuals can get a solid education and be prepared
for employment in this robust, expanding industry."
The School of Petroleum & Natural Gas currently offers two associate degrees
in Petroleum & Natural Gas Technology and Natural Gas Compression Technology.
Degree offerings will expand in the Fall 2014 semester with the addition of
the Petroleum & Natural Gas Measurement and Petroleum & Natural Gas Business
Lackawanna College is the premier, private, accredited two-year college
serving the people of northeastern Pennsylvania. With a focus on keeping
higher education affordable and accessible to our immediate community,
Lackawanna draws 80 percent of its student population right from our own
region. Find your future at www.lackawanna.edu.
Cabot Oil & Gas Corporation is a leading independent natural gas producer,
with its entire resource base located in the continental United States. For
additional information, visit the Company's homepage at www.cabotog.com.
SOURCE Cabot Oil & Gas Corporation
Contact: Christopher J. Hughes, Manager of Web Content & News Media,
Lackawanna College, (570) 961-7856, email@example.com; George Stark,
Director, External Affairs, Cabot Oil & Gas Corporation, (412) 249-3909,
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