Hess Corporation Continues To Invest In University Of Wyoming [VIDEO]
The University of Wyoming announced today that Hess Corporation is investing another $15 million in the University of Wyoming. The latest gift from Hess brings the corporations total investment into UW to $25 million since 2013, making Hess the single largest corporate partner in the university’s history.
Hess is an industry leader in unconventional reservoirs of oil and gas with premier acreage in the core of two prime U.S. shale plays -- the Bakken and the Utica.
Governor Matt Mead and UW President Dick McGinity were joined by Hess Corporation’s Chief Executive Officer John Hess and President and Chief Operating Officer Greg Hill to announce Hess’s third partnership commitment to UW in the past two years.
“Our partnership with the University of Wyoming’s School of Energy Resources will enable us to fully understand the complex rock-fluid interactions that occur in the reservoirs of unconventional plays,” Hess says. “The innovations that result from this partnership will have a positive impact on the U.S. shale industry for years to come and will help meet the world’s future energy needs.”
Hess’s $15 million commitment includes $5 million for the High Bay Research Facility, $5 million for sponsored research on unconventional oil and gas reservoirs, $4.5 million for equipment and technology within the High Bay Research Facility, and $500,000 for laboratory performance development. The state of Wyoming will match $14.5 million of this gift through the state matching program.
“Hess Corporation has played a critical part in the groundbreaking research at the University of Wyoming,” says Gov. Mead. “Their continuing support is important to this research and to industry. It is also a statement of confidence in UW’s ongoing efforts to assure Wyoming’s place as an international leader in this field.”
State matching funds help UW pursue partnerships with industry leaders such as Hess, which allow UW’s energy programs to achieve distinction in areas of strategic importance to Wyoming’s economy.
For more information on Hess Corporation, visit www.hess.com.