Hyperion declines to extend land options for its refinery - KTIV News 4 Sioux City IA: News, Weather and Sports

A major development for a major industrial project slated for southeast South Dakota.

A company spokesman says Hyperion Energy has declined to extend options on more than 5,000 acres of land, in Union County, for its $10 billion-dollar oil refinery.

That means the company no longer has rights to the land on which it planned to build the 400,000 barrel a day refinery, near Spink.

Spokesman Eric Williams told KTIV, Monday afternoon, that Hyperion is "evaluating our various options and opportunities."

Williams says Hyperion "appreciates the longstanding and continued support of the landowners in Union County, and are continuing to dialogue with them."

So what does the future hold for Hyperion?

Alyce Law, a landowner who lives in Des Moines, Iowa, told the Sioux Falls Argus Leader newspaper that Hyperion Vice President Preston Phillips told her Monday morning that the project was off. "He said (my option contract) is now null and void (and that) the project would not proceed," Law told the newspaper.

But, a hearing before the South Dakota Supreme Court is still set for Wednesday, in Sioux Falls, so Hyperion can argue the appeal of its air permit.