Chesapeake funds new scholarship program

A generous contribution from Chesapeake Energy Corporation in Oklahoma City will make it possible for more students from rural Oklahoma to attend Oklahoma Christian University. The Chesapeake Scholars Program" will provide $10,000 per year for the next five years to fund two to four annual leadership and character scholarships for OC students from western Oklahoma towns with populations of 30,000 or fewer people. Chesapeake Scholars should exhibit both leadership and academic qualities, with a cumulative grade point average of at least 3.0 on a 4.0 scale.

OKLAHOMA CITY, OK (PRWEB) May 5, 2004 --- A generous contribution from Chesapeake Energy Corporation in Oklahoma City will make it possible for more students from rural Oklahoma to attend Oklahoma Christian University.

During a special ceremony, Chesapeake officials presented OC President Dr. Mike ONeal with a $50,000 check to establish the Chesapeake Scholars Program." The program will provide $10,000 per year for the next five years to fund two to four annual leadership and character scholarships for OC students from western Oklahoma towns with populations of 30,000 or fewer people.

This is quite a generous contribution and we are most grateful to Chesapeake Energy Corporation," ONeal said. Most importantly, this contribution will make an immediate and real difference in the lives of young people by providing much-needed funds for outstanding students from rural Oklahoma communities to pursue their degrees at a Christian university. This gift is especially good news for students who will benefit the most from it over the next five years."

A selection process will ensure that the Chesapeake Scholars exhibit both leadership and academic qualities, with a cumulative grade point average of at least 3.0 on a 4.0 scale.

We are pleased to support Oklahoma Christian University and make it possible for young people from rural Oklahoma to attend this fine university," said Tom Price, Jr., Senior Vice President of Investor and Government Relations for Chesapeake Energy Corporation. Our company employs a number of graduates from Oklahoma Christian so we know firsthand the academic preparation and maturity level of the students from OC. They have made an impressive contribution. Since a large portion of our exploration occurs in rural parts of the state, we believe helping students from rural Oklahoma to obtain their degrees from this excellent university represents an opportunity for Chesapeake to reinvest in those communities where we have enjoyed significant drilling success."

Graduates of Oklahoma Christian University now employed at the Oklahoma City-based energy company, as well as current OC students, participated in todays event and presentation. Several OC alumni are employed at Chesapeake, particularly in the Information Technology area. Lon Winton, a 1969 OC graduate, is Chesapeakes senior vice president for information technology and chief information officer.

Chesapeake is now the fifth-largest independent producer of natural gas in the U.S., as well as the second-most active driller of new wells in the U.S. The company employs 1,300 people, many in rural Oklahoma where the majority of Chesapeakes exploration occurs and proven reserves are located. Chesapeake expanded activities in its secondary operating areas -- the Permian Basin region of western Texas and eastern New Mexico, and the onshore south Texas and Texas Gulf Coast regions -- through a major acquisition last year.

Oklahoma Christian, a private, four-year comprehensive university nationally ranked seventh overall in the 16-state Western region by U.S. News & World Report, offers degree programs in more than 60 fields of study in three colleges: the College of Arts and Sciences, the College of Biblical Studies and the College of Professional Studies. The university also offers two graduate degree programs in Biblical Studies in addition to one- and two-year Masters of Business Administration programs.
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