working closely with Denver Mayor John Hickenlooper, he <strong>and</strong> hiswife, Bernie, made a matching gift of $50 million to create <strong>the</strong> DenverScholarship Foundation. The five-year-old foundation has sinceprovided college scholarships to students from Denver Public Schoolstotaling $5.2 million, <strong>and</strong> <strong>the</strong> college counselors it places in everypublic high school in <strong>the</strong> city have helped students win additionalawards worth ano<strong>the</strong>r $62 million.Both Tim <strong>and</strong> Bernie are deeply committed to education <strong>and</strong> havestrong ties to DPS. Tim’s parents, Thomas <strong>and</strong> Beverly <strong>Marquez</strong>, bothtaught in <strong>the</strong> system, <strong>and</strong> all three of <strong>the</strong> <strong>Marquez</strong>es’ daughters havegone through Denver Public Schools. Bernie chairs <strong>the</strong> State Boardfor Community Colleges <strong>and</strong> Occupational Education, as well as <strong>the</strong>board of <strong>the</strong> Denver Scholarship Foundation.Tom Boasberg, superintendent of Denver Public Schools, says <strong>the</strong>Denver Scholarship Foundation deserves a good bit of <strong>the</strong> credit forrecent improvements in <strong>the</strong> district: enrollments hit a high last year,<strong>and</strong> <strong>the</strong> proportion of graduates who are college-bound rose 20 percent,to nearly half of <strong>the</strong> graduating class.“Tim <strong>and</strong> <strong>Bernadette</strong> don’t believe in incremental changes,” saysBoasberg. “They believe inreally major leaps forward.Anyone can say we needa huge increase in collegematriculation, but <strong>the</strong>y arealso putting up an unheardofamount of money to makethat vision a reality.”The <strong>Marquez</strong>es’ rise from <strong>the</strong>middle class to a spot amongDenver’s philanthropic elitebegan back in 1992 when<strong>the</strong>y borrowed $3,000 on aVisa card to help launch <strong>the</strong> company. Their first acquisition—an oilfield in Whittier, California. considered to be tapped out—cost only$150,000, says <strong>Marquez</strong>. A year later, after installing more powerfulpumps, <strong>the</strong> company was logging a profit of more than $200,000each month.In 1998, when <strong>the</strong>y permitted <strong>the</strong> energy giant Enron to buy a 26percent stake in Venoco for $60 million, it seemed like an excellentdecision, adding value <strong>and</strong> liquidity to <strong>the</strong>ir growing company. Butthree years later, when <strong>the</strong> cash-strapped Enron asked Venoco to buy<strong>the</strong>m out, a firestorm of complications ensued. As Venoco’s largestshareholder <strong>and</strong> CEO, <strong>Marquez</strong> took one look at Enron’s proposal <strong>and</strong>flatly refused. He didn’t want to operate <strong>the</strong> company under such aburden of debt. However, his partners proved more pliable, sidingwith Enron, <strong>and</strong> <strong>the</strong>ir combined voting power was sufficient to force<strong>Marquez</strong> from his position as CEO.Hurt <strong>and</strong> a little baffled by how fast things had come unraveled,Tim <strong>Marquez</strong> returned to Denver with his family, where hesoon launched ano<strong>the</strong>r venture. But he was not about to give up onVenoco, <strong>and</strong> a bitter struggle for control of <strong>the</strong> company ensued.Tim <strong>and</strong> Bernie <strong>Marquez</strong> (R) were joinedby his parents, Thomas <strong>and</strong> Beverly,for <strong>the</strong> groundbreaking in October.<strong>Marquez</strong> Hall, depicted below, willbe completed in summer 2012.Thomas Cooper, lightboximages.comUltimately Tim <strong>Marquez</strong> won.Threatened by a lawsuit broughtby <strong>the</strong> former CEO, <strong>and</strong> with <strong>the</strong>company weakened from Enron’scollapse <strong>and</strong> <strong>the</strong> Brockovitch caseunresolved, his disgruntled partnersfinally agreed to sell him <strong>the</strong> 60percent share of <strong>the</strong> common stockin Venoco that he didn’t own—<strong>the</strong>price was $14 million.It is <strong>the</strong> best investment he’sever made. Just two years later,<strong>the</strong> price of oil had doubled, <strong>the</strong>Brockovitch case had been dismissed,<strong>and</strong> Venoco was well onits way toward its peak value in2008 of more than $1 billion. Eventoday, after being hit hard by <strong>the</strong>economic collapse in late 2008, <strong>the</strong>60 percent share of <strong>the</strong> company hebought from his partners is worthabout $500 million.“It’s a great story,” saysSchneider, who helped <strong>Marquez</strong>arrange financing for <strong>the</strong>2004 buyout. “Ifyou believein what32 Fall/Winter 2010
exploration is a natural for usAt S<strong>and</strong>Ridge, exploring for natural gas <strong>and</strong> oil is secondnature. We use experience, creativity <strong>and</strong> <strong>the</strong> latest in cuttingedge technology to find reserves in regions considered bymany to be too difficult.Although energy exploration is what we do, playing apositive role in <strong>the</strong> ongoing development of our localcommunities is what defines us. We believe <strong>the</strong> key to truesuccess lies in <strong>the</strong> active participation of enhancing <strong>the</strong>quality of life for those around us.Colorado School of <strong>Mines</strong> 33www.s<strong>and</strong>ridgeenergy.com
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