Projected Bakken Refinery Project Slated For Summer 2016

The Bakken Magazines reports that The Meridian Energy Group has summer of 2016 plans to break ground on a 55,000-gallon capacity refinery near Belfield, North Dakota. Belfield is located in the BakkenShale oil field region, which according to the Oil & Gas Financial Journal straddles the US border with Canada and runs through two states – North Dakota and Montana – and two Canadian provinces – Saskatchewan and Manitoba. It is estimated to house 3.65 billion barrels oil recoverable crude oil.

An online PDF entitled Understanding the Crude Oil and Market Products, published by the American Petroleum Institute, explains that after finding, extracting and transporting crude oil, refining it into a marketable product it is the next step. The Bakken Magazine reports that currently less than 5% of crude oil produced in the Bakken Oil Field is refined in the region, and it costs North Dakota revenue and tax dollars to ship the raw crude out for refining and the finished product back to the area for sales.

In addition to the financial costs of shipping crude out for refining, FOX News reports that the popular crude-by-rail mode of transportation has raised safety alerts from the U.S Department of Transportation, due to a string of accidents that resulted from increased usage of the rail system in the shipping of crude oil.

The Bakken Magazine reports that Meridian believes that low oil prices will usher in and “golden age” for refineries, and it seems the addition of jobs and the increase in safety related to transportation of the crude oil are additional values provide by this new addition to the Bakken region.

If you need advice regarding your rights, or are concerned about your safety while working in this region contact us for more information. One of our experienced attorneys will be happy to assist you.