WICHITA, Kan. (KSNW) – Wichita State University has received a multi-million dollar gift from a local oil producer.

Wayne Woolsey and his wife, Kay, have committed a gift of $10 million to build a new home for the W. Frank Barton School of Business, according to the university.

The couple is also donating $2 million to the WSU Geology Department. 

The $12 million gift is the largest cash donation ever made to the university and the foundation, according to a university spokesperson. 

A spokesperson for WSU says the new business building will be named Wayne and Kay Woolsey Hall.

Wayne Woolsey is the chairman of Woolsey Companies, an oil and natural gas exploration and production company he founded in 1978 after 20 years in the industry.

He has a master’s degree in geology from Texas A&M. Kay Woolsey joined Woolsey Companies in 1986 and has served as vice president and secretary, handling land, legal and administrative functions.

Their son Marc is a Wichita State graduate.