Cimarex honors founder F.H. "Mick" Merelli with new endowed chair and scholarships

Friday, April 26, 2013

Cimarex pays permanent tribute to the legacy of its founder

Denver-based Cimarex Energy Co. announced Monday that it will invest $3.5 million to further advance The University of Tulsa’s College of Engineering and Natural Sciences.

Cimarex’s gift in the amount of $2.5 million will establish a permanent tribute to the legacy of its founder, F.H. “Mick” Merelli, by endowing a faculty chair in TU’s renowned McDougall School of Petroleum Engineering. The newly established F.H. “Mick” Merelli/Cimarex Energy Chair will assist in recruiting and retaining distinguished faculty; the first holder of the chair will be Dr. Cem Sarica, professor of petroleum engineering. The remaining $1 million of the Cimarex investment will establish a TU Trustee scholarship fund for deserving students in the petroleum engineering program.

Cimarex faculty chairMick Merelli led Cimarex as chairman from 2002 until his death in 2012, also serving as president and CEO from 2002 to 2011. Prior to founding Cimarex, he served as chairman, president and CEO of Key Production Co. for 10 years. Before that, he served as president of Apache Corporation in Denver from 1988 to 1992 and as president of Tulsa-based Terra Resources from 1979 to 1988.

“Mick Merelli’s business philosophy was rooted in sound fundamentals and the conviction that a company should create real value through drilling and production,” said Thomas Jorden, chairman, president and CEO of Cimarex. “He always promoted a culture of innovation, independent thought, and personal initiative and has influenced many of today’s oil and gas leaders. Mick’s goals and those of Cimarex mesh perfectly with TU’s mission.”

Cimarex officials announced the new commitment during a dedication ceremony in TU’s Stephenson Hall on Monday, April 22, 2013. University of Tulsa President Steadman Upham welcomed Cimarex to the McDougall School of Petroleum Engineering.

“We are grateful for the generous support that Cimarex Energy has given TU and are extremely pleased to honor Mick Merelli,” Upham said. “Cimarex is a leader in oil and gas exploration, and Merelli’s presence in the industry is deserving of such recognition. We are honored to be stewards of this gesture of esteem and affection.”

Mona Chamberlin