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October 01, 2012 04:40 PM

Company Planning SD Refinery Lets Options Expire

A company that planned to build a $10 billion oil refinery has allowed land-purchase options to expire on more than 5,000 acres of southeastern South Dakota farmland.

Officials with Texas-based Hyperion Refinery say the move does not mean the project has been cancelled.

Hyperion spokesman Eric Williams says the company is "evaluating our various options and opportunities."

The move comes just days before the South Dakota Supreme Court is scheduled to hear oral arguments in a case involving a state air quality permit for the refinery.

Hyperion still plans to argue the case Wednesday.

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