Lackawanna College announced it received the largest private donation in its history Friday, a gift by an oil and gas company seeking to solidify its place in northeast Pennsylvania.
The $2.5 million gift from Cabot Oil & Gas Corp. will boost the college's $3 million endowment to $4 million. The other $1.5 million will be used for equipment, training, faculty and staff, student curriculum and internships in the college's School of Petroleum & Natural Gas.
Since the school's start in 2009, it has grown to include 140 students projected for fall 2014, said the school's executive director, Richard Marquardt. It offers four majors: petroleum and natural gas technology, measurement, business administration and natural gas compression technology.