SIOUX FALLS, S.D. (AP) — Rather than ask for extension, a Texas company is considering filing a new application for a state air permit that would allow it to begin constructing a proposed $10 billion oil refinery, company officials said Friday.

Hyperion Refining was facing a Friday deadline to start construction on the facility, which would process 400,000 barrels of Canadian tar sands crude oil each day into low-sulfur gasoline, diesel, jet fuel and liquid petroleum gas. If constructed, the 3,300-acre tract of farmland north of Elk Point would become the first new U.S. site for an oil refinery since 1976.