QUICK RISE AND FALL OF AN INSTITUTE
UT regents authorize what is first known as the Energy Research, Engineering and Education Institute.
Jeffrey Spath, a former vice president of oilfield services for giant Schlumberger Ltd., is hired as chief executive director.
Spath hires a staff of six for what comes to be known as the Texas Oil and Gas Institute.
:UT System tells Spath that his employment will conclude at the end of the year, but he will still get his contractually required compensation through August 2018.
The institute’s six other employees lose their jobs at the end of this month, although a few could be hired by the system’s University Lands unit.