George P. Mitchell
Encyclopedia
George Phydias Mitchell is an American businessman, real estate developer and philanthropist from Texas.
. Mitchell earned a degree from Texas A&M University
with an emphasis in geology and petroleum engineering. He started an independent oil and gas company, Mitchell Energy & Development Corp. and built it into a Fortune 500 company. In the 1980s and 1990s the company pioneered new technology for horizontal drilling of natural gas. This technique, combined with hydraulic fracturing of rock, makes it possible to economically extract natural gas from shale rock formations. The new approach has been widely adopted by the gas industry and spawned a new gas boom in North America. The Potential Gas Committee estimates that U.S. recoverable reserves will last 118 years at current production levels. Extracting natural gas from shale rock is rapidly spreading to countries outside the United States. Mitchell's innovation is important in the context of energy security and global warming: The United States will be less dependant on foreign sources of energy. Because natural gas emits less carbon dioxide than coal and petroleum, it will serve as a bridge fuel on the way to a less carbon-dependent economy. Mitchell Energy & Development Corp. was sold to Devon Energy
in 2001 for $3.5 billion.
Mitchell was the developer of The Woodlands
, an unincorporated community in Montgomery and Harriss counties, Texas, which he developed from timberland located 25 miles north of downtown Houston. He brought on the esteemed landscape architect Ian McHarg
to consult on the project. The masterplan for the community called for preserving trees, protecting the environment, minimizing flooding and creating a pleasant urban environment. In 2010 The Woodlands was home to 92,300 people. When fully developed the population will have reached 130,000.
He and his wife Cynthia have played a major role in the revitalization of his hometown of Galveston. Mitchell had a life-long passion for tennis, and the tennis center at Texas A&M University, where he was captain of the tennis team, was named in his honor. Built for an estimated $4.2 million, the official ribbon cutting ceremony was held on October 23, 1998. In 1984, he was the recipient of an honorary doctoral degree from the University of Houston
.
In an article discussing Mitchell's gift of US$10 million to the National Academies of Science, the organization's magazine InFocus described Mitchell's commitment to sustainability and the environment as follows.
Working with Meadows and other national leaders Mitchell created The Woodlands Conference series and the International George and Cynthia Mitchell Prize, both dedicated to sustainable development
. He was particularly interested in the role of the business community in creating sustainable societies. The Mitchells also underwrote the National Academies' Our Common Journey: A Transition Toward Sustainability, the 1999 report that defined the role of science and technology in moving toward sustainability. As a follow-up to Our Common Journey and with Mitchell's continued help the National Academies created a long term program committed to advancing science and technology in support of sustainable development. Mitchell also founded the Houston Advanced Research Center
that explores strategies for sustainable development at the regional level. He donated part of his wealth to the Cynthia and George Mitchell Foundation that supports programs for the efficient and wise use of Earth's resources.
Through the generous donation by George P. Mitchell of $35 million, the Texas A&M University Physics department relocated to two new buildings in late 2009: The George P. and Cynthia W. Mitchell Fundamental Physics and Astronomy Building and the George P. Mitchell Physics Building. This donation by Mitchell and his wife, Cynthia, is the latest in a series supporting the university's scientific development and the physics department in particular. With previous gifts supporting important additions such as academic chairs, professorships and the Giant Magellan Telescope project, the Mitchells are Texas A&M's most financially supportive benefactors of the modern day, with donations now totaling $44.5 million for the physics department over the past three years. In 2004 the Forbes magazine listed him with a Net Worth of 1.6 Billion US-dollar as one of the 500 richest people worldwide. Today he's one of the richest greeks.
Biography
He was born to Greek immigrant parents in the port city of Galveston, TexasGalveston, Texas
Galveston is a coastal city located on Galveston Island in the U.S. state of Texas. , the city had a total population of 47,743 within an area of...
. Mitchell earned a degree from Texas A&M University
Texas A&M University
Texas A&M University is a coeducational public research university located in College Station, Texas . It is the flagship institution of the Texas A&M University System. The sixth-largest university in the United States, A&M's enrollment for Fall 2011 was over 50,000 for the first time in school...
with an emphasis in geology and petroleum engineering. He started an independent oil and gas company, Mitchell Energy & Development Corp. and built it into a Fortune 500 company. In the 1980s and 1990s the company pioneered new technology for horizontal drilling of natural gas. This technique, combined with hydraulic fracturing of rock, makes it possible to economically extract natural gas from shale rock formations. The new approach has been widely adopted by the gas industry and spawned a new gas boom in North America. The Potential Gas Committee estimates that U.S. recoverable reserves will last 118 years at current production levels. Extracting natural gas from shale rock is rapidly spreading to countries outside the United States. Mitchell's innovation is important in the context of energy security and global warming: The United States will be less dependant on foreign sources of energy. Because natural gas emits less carbon dioxide than coal and petroleum, it will serve as a bridge fuel on the way to a less carbon-dependent economy. Mitchell Energy & Development Corp. was sold to Devon Energy
Devon Energy
Devon Energy Corporation , is among the largest U.S.-based independent natural gas and oil producers. Based in Oklahoma City, Oklahoma, the company's operations are focused on North American onshore exploration and production...
in 2001 for $3.5 billion.
Mitchell was the developer of The Woodlands
The Woodlands, Texas
The Woodlands is a master-planned community and a Census-designated place in the U.S. state of Texas within the metropolitan area. The population of the CDP was 55,649 at the 2000 census—a 90 percent increase over its 1990 population. According to the 2010 census, The Woodlands' population rose...
, an unincorporated community in Montgomery and Harriss counties, Texas, which he developed from timberland located 25 miles north of downtown Houston. He brought on the esteemed landscape architect Ian McHarg
Ian McHarg
Ian L. McHarg was born in Clydebank, Scotland and became a landscape architect and a renowned writer on regional planning using natural systems. He was the founder of the department of landscape architecture at the University of Pennsylvania in the United States. His 1969 book Design with Nature...
to consult on the project. The masterplan for the community called for preserving trees, protecting the environment, minimizing flooding and creating a pleasant urban environment. In 2010 The Woodlands was home to 92,300 people. When fully developed the population will have reached 130,000.
He and his wife Cynthia have played a major role in the revitalization of his hometown of Galveston. Mitchell had a life-long passion for tennis, and the tennis center at Texas A&M University, where he was captain of the tennis team, was named in his honor. Built for an estimated $4.2 million, the official ribbon cutting ceremony was held on October 23, 1998. In 1984, he was the recipient of an honorary doctoral degree from the University of Houston
University of Houston
The University of Houston is a state research university, and is the flagship institution of the University of Houston System. Founded in 1927, it is Texas's third-largest university with nearly 40,000 students. Its campus spans 667 acres in southeast Houston, and was known as University of...
.
In an article discussing Mitchell's gift of US$10 million to the National Academies of Science, the organization's magazine InFocus described Mitchell's commitment to sustainability and the environment as follows.
Working with Meadows and other national leaders Mitchell created The Woodlands Conference series and the International George and Cynthia Mitchell Prize, both dedicated to sustainable development
Sustainable development
Sustainable development is a pattern of resource use, that aims to meet human needs while preserving the environment so that these needs can be met not only in the present, but also for generations to come...
. He was particularly interested in the role of the business community in creating sustainable societies. The Mitchells also underwrote the National Academies' Our Common Journey: A Transition Toward Sustainability, the 1999 report that defined the role of science and technology in moving toward sustainability. As a follow-up to Our Common Journey and with Mitchell's continued help the National Academies created a long term program committed to advancing science and technology in support of sustainable development. Mitchell also founded the Houston Advanced Research Center
Houston Advanced Research Center
The Houston Advanced Research Center, commonly referred to as HARC, is a 501 not-for-profit organization based in The Woodlands, Texas dedicated to improving human and ecosystem well-being through the application of sustainability science and principles of sustainable development. HARC employs a...
that explores strategies for sustainable development at the regional level. He donated part of his wealth to the Cynthia and George Mitchell Foundation that supports programs for the efficient and wise use of Earth's resources.
Through the generous donation by George P. Mitchell of $35 million, the Texas A&M University Physics department relocated to two new buildings in late 2009: The George P. and Cynthia W. Mitchell Fundamental Physics and Astronomy Building and the George P. Mitchell Physics Building. This donation by Mitchell and his wife, Cynthia, is the latest in a series supporting the university's scientific development and the physics department in particular. With previous gifts supporting important additions such as academic chairs, professorships and the Giant Magellan Telescope project, the Mitchells are Texas A&M's most financially supportive benefactors of the modern day, with donations now totaling $44.5 million for the physics department over the past three years. In 2004 the Forbes magazine listed him with a Net Worth of 1.6 Billion US-dollar as one of the 500 richest people worldwide. Today he's one of the richest greeks.