ARLINGTON - The University of
Texas at Arlington has announced the largest single cash commitment in the
University's philanthropic history, a $5 million gift toward completion of the 6,500-seat
special events center on the eastern edge of campus from Carrizo Oil & Gas
The gift follows
Carrizo's generous $1 million contribution announced in fall 2009 that established
a graduate research fellowship program to help attract top scholars and researchers
to the University.
independent energy company has been developing the University's natural gas
resources since 2007. Carrizo has demonstrated a commitment to bringing its
wealth of knowledge, experience, safety and reliability to its relationships
with the University, the city of Arlington and the North Texas community.
S.P. "Chip" Johnson
IV, Carrizo's president and chief executive officer, described his company's
relationship with UT Arlington as "strong and mutually beneficial." The natural
gas program has generated more than $5 million in royalties for the University
since campus wells went into production in late 2008.
"UT Arlington's new
special events center promises to have a dramatic impact on the campus and to
be a resource for the entire community," Johnson said. "We believe that a
robust and vibrant campus is a key ingredient in attracting outstanding students
and in helping more of them earn their degrees."
UT Arlington learned in 2006 that its campus sits
on a sweet spot within the Barnett Shale, one of the largest natural gas fields in
the nation. Since then, Carrizo has successfully completed 22 wells at a single
gas royalties are being used to encourage University supporters to leverage
major gifts that boost UT Arlington's academic and research missions through
the Maverick Match. The program
allows philanthropic partners who make endowment gifts of $25,000 or more to
see their contribution doubled through natural gas royalty matching funds.
"We are fortunate to
have six new doctoral fellows this fall who have brought their talent to UT
Arlington through our partnership with Carrizo," President James D. Spaniolo
said. "This new commitment to our special events center is transformational for
UT Arlington and, we believe, signals many great things to come."
Construction of the
$78 million special events center continues east of Pecan Street, between
Second and Fourth streets. A real-time webcam is capturing work on the center, which is
expected to be complete in late 2011.
The Amon G. Carter
Foundation of Fort Worth also recently awarded UT Arlington a gift of $350,000
toward completion of the special events center.
Carrizo Oil & Gas (NASDAQ: CRZO) is
engaged in the exploration, development and production of natural gas and oil. The
company's current operations are focused in the Barnett Shale area in North
Texas, in the Marcellus Shale of Appalachia, along the onshore Gulf Coast in
Texas and Louisiana, and in the U.K. North Sea where two significant Carrizo
generated discoveries were made in the 2nd quarter of 2007.
For more about
Carrizo Oil & Gas, please visit www.crzo.net.
The University of
Texas at Arlington is a vibrant, comprehensive institution of nearly 33,000
students in the heart of North Texas and is one of the state's seven emerging
research institutions. UT Arlington is engaged in $300 million of capital
improvements, including the special events center, and is working with
community partners to develop more than 20 acres on the eastern edge of campus.
For more about UT
Arlington, please visit www.uta.edu.