GREELEY, Colo. (AP) — Two men have been arrested in connection with the theft of more than $300,000 worth of drill bits from an oil and gas site near Milliken.

The Weld County Sheriff’s Office says 21-year-old Miguel Moreno, of LaSalle; and 23-year-old Kyle Hunt, of Johnstown, have been charged with felony theft.

Investigators recovered six of seven drill bits reported stolen last month and three more bits that had not been reported missing. In total, the bits, which weigh about 300 pounds each, are worth an estimated $332,300. They were dumped at an oil battery site in central Weld County.

Booking documents do not indicate if Moreno or Hunt has hired an attorney.

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