GROVER, Colo. -- A new oil discovery could bring a big financial boost to Weld County. It's being tapped in the Pawnee National Grassland near Grover.

Oil companies have known for years about the area's potential. It was too expensive to drill though until new advancements in a technology called horizontal drilling came along, making it more affordable.

Horizontal drilling involves making a vertical shaft about 50 feet deep, then running a few thousand feet of pipe horizontally along the oil reserve.

"The geology's already been studied. It's just a matter of the horizontal drilling allowing us to get that out at a much higher rate," said Craig Rasmuson from Synergy Resources Corporation. Synergy is just one of several companies vying for a piece of the new oil field.

Weld County leaders are excited about the oil discovery because the county receives 40% of its revenue from oil companies.

The county said one company's well is capable of producing more than 1,700 barrels of oil a day. The average well produces only 150.

"From what we've been told, it's very very promising. This could be a fairly large field," said Weld County Commissioner Doug Rademacher.

"It's good news for the citizens of Weld County and for the country because this oil should be staying in the country," he said.