Cabot Oil gives $2.5M to Pa. college

Posted: April 13, 2014

Cabot Oil & Gas Corp., one of the state's most prolific Marcellus Shale natural gas producers, is giving $2.5 million to Lackawanna College in Scranton to boost its School of Petroleum and Natural Gas. The gift is the largest single private donation in the history of the two-year college.

Lackawanna College established the school in 2009 in the Susquehanna County borough of New Milford, near the heart of Cabot's drilling activity.

"Our partnership with Cabot enhances tremendously the ability of the School of Petroleum and 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," Mark Volk, the college's president, said in a statement.

The donation will create a $1 million endowment to support scholarships and the school's ongoing needs. An additional $1.5 million will be used for equipment, training, staff and faculty development, and student interactive experiences and internships.

The school currently offers associate degrees in petroleum and natural gas technology and natural gas compression technology. The offerings will be expanded this fall to include petroleum and natural gas measurement and petroleum and natural gas business administration degrees.

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