The University of North Dakota announced Monday it is naming its school of geology after Continental Resources Inc. CEO Harold Hamm.
Hamm and Continental are giving $10 million to the university's efforts to enhance its educational offerings in petroleum geology and related fields. University officials said it is the largest gift ever from someone who is not an alumnus of the school.
“We're proud to be partnering with Harold Hamm and Continental Resources to provide funding through a private-public partnership for this major expansion of UND's geology program,” North Dakota Gov. Jack Dalrymple said. “This is a perfect example of what can be done at our research institutions to enhance educational and employment opportunities for our state.”
Hamm's Continental Resources has been at the forefront of developing the Bakken Shale, an oil-bearing formation in North Dakota and nearby states.
“With the discovery of the world's largest oil field in more than 40 years, Continental Resources and North Dakota are changing the world,” Hamm said. “The Bakken play is one of the primary fields making North American energy independence a reality, releasing us from the grip of foreign oil and serving as a model for unconventional oil production worldwide.
“Establishing the School of Geology and Geological Engineering is a vital commitment to continuing North Dakota's national and global leadership in energy.”