SOURCE: Meridian Energy Group, Inc.

Meridian Energy Group, Inc.

March 23, 2016 10:00 ET

Meridian Energy Group, Inc. Files for Davis Refinery Permitting

BELFIELD, ND--(Marketwired - Mar 23, 2016) - Today Meridian Energy Group, Inc. announced that it has submitted its first round of permit applications relating to its 55,000 barrel per day Davis Refinery. The Davis site is located near Belfield, in Billings County, North Dakota, in the heart of the Bakken play. Meridian filed applications for a Zoning Certificate and Conditional Use Permit with Billings County. In the coming weeks, Meridian will file additional permit applications, including an application for the Refinery's Permit to Construct with the State of North Dakota Health Department. Also included will be an application for a Conditional Use Permit for an equipment assembly and fabrication facility, which will serve the needs of the both the Refinery as well as other local oil and gas businesses.

The proposed Davis Refinery will be the first "greenfield" complex high-conversion refinery built in many years. As a brand new plant, the Davis Refinery will not be burdened with outdated legacy operating units, will operate more cleanly and efficiently, will utilize state-of-the-art instrumentation and control technology, and will fully comply with modern environmental and safety requirements. 

William Prentice, Chairman & CEO of Meridian Energy Group, Inc., had this to say:
"The Davis Refinery will be one of the most modern, efficient and environmentally-compliant refineries in the US in more than 50 years." 

For the innovative design, equipment and construction of the Davis Refinery, Meridian has partnered with multinational engineering firm, Vepica, and Houston-based construction and logistics firm, BASIC Equipment.

"We're excited to take this next step in our partnership with Meridian and BASIC," commented Franklin Espiga, Vepica's VP of International Business Development. "With this collaboration of innovative, global energy leaders, our progress has already exceeded expectations, and we are confident that we will continue to deliver such results throughout."

Tommy Balke, the CEO and President of BASIC Equipment, also commented, "Partnering with Meridian and Vepica has already proven to deliver next-generation results, which will manifest themselves in not only the Davis Refinery, but also our fabrication and construction facilities -- both of which will serve the energy needs of the community for years to come."

The Davis Refinery addresses two pressing needs:

  • The demand for local refining capacity: The Davis Refinery will expand refining capacity near the production areas of the more than one million bpd of crude oil currently being produced in the Bakken region -- most of which is currently is being transported out of North Dakota for refining at higher costs. 
  • The supply of fuel for the regional and local markets: The refinery will turn locally-produced crude into super-clean transportation and heating fuels, providing a supply to the oil service, agriculture and trucking industries, as well as consumer automobiles -- which is currently being shipped into North Dakota also at higher costs.

"By building the Davis Refinery close to the oil producers, Meridian can enter into long-term process tolling agreements with producers and refined product distribution firms that makes these firms stronger financially, and at the same time substantially reduces the refinery's feedstock costs. This will also provide additional competitive choices to local and regional fuel consumers, resulting in reduced costs to those consumers," Prentice added.

Meridian Energy Group, Inc., an active member of the North Dakota Petroleum Council, will continue to lead by innovation and clean fuels technology. The Davis Refinery will maximize the use of local natural gas as the fuel source to run the facility, reducing the incidence of flared gas. Additionally, providing cleaner diesel fuel locally will displace transportation fuels that are refined and delivered from remote areas, resulting in reduced transportation-related pollution. 

William Prentice is available today for interviews -- please coordinate a time with our media contact:
Mark Hanes, (917) 359-0697; mark.hanes@tallgrasspr.com

About Meridian
The Mission of Meridian Energy Group, Inc. is to provide long-term shareholder value through the development and operation of the cleanest, most efficient and environmentally compliant crude oil refineries in the world, benefiting the community and its investors. Established in 2013, Meridian is led by energy industry experts with a combined 50 years of world-class expertise in energy & hydrocarbon processing, project development, finance, and large capital project management. Meridian Energy Group, Inc. headquarters is located in Irvine, CA.

For more information, visit: http://www.meridianenergygroupinc.com

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