Cabot Oil and Gas donated $2.5 million to the Lackawanna College School of Petroleum and Natural Gas.
The satellite school is located in New Milford, Penn. near Interstate 81.
$1 million worth of the grant will go into the school's endowment so that it can offer scholarships for students. The remaining $1.5 million comes in the form of equipment, internships, curriculum development and guest speakers.
Cabot CEO Dan Dinges says the company prefers to hire local talent.
"We're going to be here a long time. I think this is a tremendous opportunity for us to both help us, help the community and bring new expertise and talent. It's just a win-win partnership for Cabot and the College of Petroleum and Natural Gas," said Dinges.
The school is in its third year and works with over a dozen other drilling related companies. It currently offers two-year associate's degrees in petroleum and natural gas and compression.
This fall, it plans to offer degrees in measurements and controls and the business side of the oil and gas industry.
"Through our internship programs and working directly with the companies, we're at a near 100% placement rate. As close as you can get to a 100% placement rate for graduates of our program," said president Mark Volk.
John Moore of Dimock is graduating from the program after interning with Cabot. He says there's more jobs available for qualified locals.
"Initially, I didn't know what I wanted. But when I came to the open house, it really opened my eyes to how big of an industry it had become. It really inspired me to enroll in the program," said Moore.
Each degree track at the school takes about 24 students.
Lackawanna President Volk says some New Yorkers have crossed the border to enroll.
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