William Prentice, CEO, Meridian Energy Group, gives an update on the Davis Refinery, being constructed in the Bakken oil fields. The location of the refinery, near Belfield, is close to major transportation and distribution arteries.
According to Prentice, the Bakken has “probably the greatest crude oil to refine on the planet” and the refinery will be a Bakken only crude oil refinery.
In addition to the Davis Refinery, Meridian Energy Group recently announced a second refinery in the Permian Basin in Texas. Prentice said it will be called the Walton Refinery after the family who own the land where the Permian refinery will be located.
The Walton refinery is planned to be located north of Kermit, TX.
Prentice talked about how the new refinery and others will be integrating the Davis Refinery’s technology into their facility designs.
Prentice also talks about the resolving and winning of two years of red tape and regulation issues. The cost, the time and how much special interest groups can prolong the process and drain resources using government entities as their resource.
