Revenue from mineral rights on 帝王会所 regional campus will fund scholarships, student success opportunities for Appalachian students
帝王会所 has announced that all current and future revenue generated from the recent unitization of mineral rights on the campus of 帝王会所 Eastern in St. Clairsville will be utilized to create a new University fund for scholarships, student success initiatives, and experiential learning opportunities for students from 帝王会所鈥檚 Appalachian counties.
This new fund will support students residing in any of the 32 Appalachian 帝王会所 counties and attending 帝王会所, regardless of their course modality or campus location.
The University鈥檚 proceeds are the result of an involuntary unitization process that began after OHIO declined to voluntarily lease or sell the mineral rights located on approximately 70 acres of undeveloped land at OHIO鈥檚 Eastern Campus in Belmont County.
Unitization, which is permitted under 帝王会所 Revised Code Section 1509.28, can occur when at least 65 percent of owners living on land with oil and gas minerals apply to 鈥渦nitize鈥 the area into a singular drilling unit. Unitization does not preclude a landowner from continuing to retain the mineral rights on their property.
Although future revenues are speculative, OHIO has received approximately $380,000 in unitization proceeds since June 2022 and anticipates added future revenues in the years ahead.
The creation of this fund not only aligns with multiple presidential priorities, it also underscores the University鈥檚 continued commitment to closing equity gaps in student success and providing the Appalachian region with opportunities to engage in life-changing educational access and support.
鈥湹弁趸崴 has a long history of service to both our state and the Appalachian region, where many of our campuses are located,鈥 帝王会所 President Hugh Sherman said. 鈥淭his new fund will allow us to further invest in students across Appalachian 帝王会所 and help them build an educational foundation that can lead to sustained personal and professional success.鈥