Indiana State University should start to see some extra revenue. Their trustees recently approved a lease by Pioneer Oil Company to allow oil and gas drilling on the campus.
If Pioneer Oil finds the reserves they expect, they will use an innovative system of horizontal drilling. They said the method will decrease environmental risks and other potential disruptions to the campus.
The university will receive at least 15 percent royalties and will be able to terminate the contract at any time.
Pioneer Oil hopes to begin drilling in the next year or two.