Apache Corp. Donates $2M to Establish Petroleum Engineering Research Center
Investing in the future of their industry, Apache Corp. announced a $2 million donation to establish the Apache Upstream Research Center in the Bob L. Herd Department of Petroleum Engineering at Texas Tech University.
Focused on environmentally responsible oil and gas production, the center will encourage interdisciplinary faculty research to advance a wide range of industry techniques including fracturing, horizontal well drilling, wellbore integrity and well cementing.
“Apache Corp. is an industry leader and great corporate partner,” said Kent Hance, chancellor of the Texas Tech University System. “Their commitment to the Permian Basin, environmentally responsible fracking and future petroleum engineers is unmatched.”
The center will be housed in the new 40,000-square-foot Petroleum Engineering Research Building that began construction in October. The $20 million facility is funded entirely through donations to the Texas Tech University System’s billion-dollar campaign, Vision & Tradition: The Campaign for Texas Tech.
“We are very excited to be involved with this program,” said Rodney J. Eichler, President and Chief Operating Officer of Apache Corp. “The research ear-marked with this gift will find broad use not only at Apache but throughout the entire industry.”
According to Eichler, Apache’s gift to the Herd Department of Petroleum Engineering is the largest contribution the company has made to an institution of higher education. The gift is eligible for an additional $2 million of matching state funding from the Texas Research Incentive Program.
“We are fortunate to have the support of the Apache Corp. associated with our university and the college of engineering,” said Lawrence Schovanec, interim president of Texas Tech University. “Thank you to the Apache Corp. for helping Texas Tech move forward in our ambitions to become one of the elite universities in this nation.”
Apache Corp. is a Houston-based oil and gas exploration and production company with worldwide operations. The publicly-traded company has deep roots in West Texas with more than 20 years of operations in the Permian Basin.