The Canadian Association of Petroleum Producers (CAPP) and The Explorers and Producers Association of Canada (EPAC) are both pleased to make available scholarship funding to students attending qualifying Alberta post – secondary institutions in qualifying fields of study.
History of the CAPP-EPAC Scholarship Fund Endowment
In 1994 a court ordered settlement regarding pipeline tolls in the Province of Alberta between Nova Gas Trunk Lines Limited (NGTL) and Alberta oil and gas production companies created a $4.0 million endowment fund. Alberta’s oil and gas producers agreed this endowment should be used to fund scholarships for students enrolled in fields of study related to the oil and gas industry in Alberta post-secondary institutions. The endowment was entrusted to the Calgary Foundation in 1995 to administer the funds and distribute the annual income earned on the endowment as scholarship funding to eight post-secondary institutions in Alberta.
In 1999 a second sum of $1.25 million was paid to Alberta oil and gas producers as a result of a merger between NGTL and TransCanada Pipelines. This capital fund was invested and administered by CAPP on behalf of CAPP and The Explorers and Producers Association of Canada (at that time SEPAC) for the purpose of funding scholarships at three additional Alberta post-secondary institutions plus an annual donation to STARS (air ambulance service). Subsequently, STARS was removed from the annual funding and two more post-secondary institutions were added.
In 2011 the first NGTL endowment fund was transferred back from the Calgary Foundation and combined with the second endowment to create the CAPP-EPAC Scholarship Fund. The investments in the CAPP-EPAC Scholarship Fund are managed on behalf of the two Associations by a firm of investment professionals retained by CAPP.
Since 1995 approximately 2,000 scholarships have been awarded to Alberta students approaching $7.0 million in total distributions. The endowments have been invested prudently and the Scholarship Fund capital has grown to more than $ 7.0 million notwithstanding the scholarships awarded since inception.
Alberta oil and gas producers can be proud that this legacy has assisted so many young Albertans to secure a brighter future for themselves, and the Province of Alberta.