TERRE HAUTE, Ind.— The high price of oil is
nudging Indiana
State University toward a possible lease with an Illinois oil company that
wants to search for oil and gas reserves beneath the Terre Haute campus.
The proposed lease would allow Lawrenceville, Ill.-based Pioneer Oil Co. to explore, drill, produce and transport any oil and gas resources it finds beneath the campus. ISU is within the Illinois Basin, an area covering western Indiana, southern Illinois and western Kentucky that contains both oil and gas fields.
The Tribune-Star reports (http://bit.ly/AfPbnY) that ISU's board of trustees will be asked Friday to approve the "substantive provisions" of the agreement and authorize school officials to negotiate and execute a contract.
The proposed lease would allow Lawrenceville, Ill.-based Pioneer Oil Co. to explore, drill, produce and transport any oil and gas resources it finds beneath the campus. ISU is within the Illinois Basin, an area covering western Indiana, southern Illinois and western Kentucky that contains both oil and gas fields.
The Tribune-Star reports (http://bit.ly/AfPbnY) that ISU's board of trustees will be asked Friday to approve the "substantive provisions" of the agreement and authorize school officials to negotiate and execute a contract.
Chicago Tribune
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