Meridian Energy signs MoU for the purchase, distribution of refinery products

BELFIELD, North Dakota – Meridian Energy Group, Inc. announced that it has recently entered into Memoranda of Understanding with local and regional petroleum product distribution firms, under which these firms will purchase and distribute up to 268 million gallons per year of refined products from the Davis Refinery, Meridian’s greenfield refinery proposed for Billings County, near Belfield, ND.

This MoU represents over 67% of the design capacity of Davis Light, the first phase of the Refinery, and a still-significant portion of the completed 55,000 barrels per day capacity of Davis Refinery. Upon completion, the Davis Refinery will produce over 800 million gallons of refined products per year. Negotiations of distribution agreements with other firms are proceeding.

In addition, Meridian announced that it has completed a letter of intent with Sequent Energy Management L.P. under which Sequent will provide the Davis Refinery with its natural gas requirements.

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