Ohio County Schools have entered into an agreement with American Petroleum for their mineral rights.
On Monday, the board unanimously approved the measure.
The agreement involves just over 72 acres of land, and American Petroleum agreed to pay an up front bonus of $6,000 per acre within 90 days of execution.
Ohio County Schools will be receiving over $430,000.
Superintendent Kim Miller said all of the money will go right back in to benefit students.
She adds students and staff won’t notice any disruption in their day-to-day activities.
Ohio County Schools Superintendent, Dr. Kim Miller said, “We’ve done a lot of research to make sure it will be safe, we will be looking far, deep underground that the drilling will take place. So we feel confident that everything is going to go fine.”
Dr. Miller said the property will not be used for any type of gas storage.
The lease is for five years with the option for a five year extension, and the specific language of the lease is still being negotiated, so there is no direct timeline for when the drilling will start.