Big oil find in Banner County

LINCOLN, Neb. (AP) _ An Australian company has announced finding what it says could be several million barrels of oil in a new Nebraska Panhandle location.

The Lincoln Journal Star reported Friday Black Star Petroleum says the oil was discovered thanks to two wells it drilled near the Wyoming border in Banner County. The company says two independent consultants estimate the wells could tap between 4.3 million and 23.3 million barrels of oil.

Last year the entire state produced a little more than 2.5 million barrels total.

The find, if it proves out, still would be minuscule compared with other oil fields. For example, the Prudhoe Bay field in Alaska's North Slope area ranks 20th in the world and contains an estimated 25 billion barrels.

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