Photo: WFIU News Image
Pioneer Oil is paying IISU royalty fees for drilling underneath the university.
The Terre Haute Board of Zoning Appeals has approved plans for Illinois-based Pioneer Oil to drill for oil beneath the Indiana State University Campus.
The company still needs a state permit before it can begin exploring. The school‘s board of trustees approved an oil and gas lease with the company in February.
The agreement calls for Pioneer Oil to pay an upfront fee and royalties of at least 15 percent in exchange for permission to drill for oil on university property.
