US oil stockpiles hit record amid production boom

Discussion in 'Too Hot for Swamp Gas' started by HallGator, Apr 24, 2014.

  1. Gatorrick22
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    Gatorrick22 Well-Known Member

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    Lol... "Greenies?" You mean Hathaway union employees, don't you?
  2. HallGator
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    HallGator Administrator VIP Member

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    Sorry, I missed that you were responding to my question. Thanks for the lengthy reply.
  3. sierragator
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    sierragator Well-Known Member

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    Happens every spring, you can set your watch by it: gas prices take off like a shot with the same excuses/"explanations" trotted out. A refinery is offline for "maintenance" or " we are shifting from winter blends to summer blend" It's all bullshit.....
  4. tegator80
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    tegator80 Well-Known Member

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    Um...thanks?

    My simple answer? Businesses charge what they can (maximum shareholder value). They charge for gas because...they can. When our buying demand goes down then all of that supply isn't going to go away all by itself. Then the prices drop. And I would also add that prices usually go into some spasms every half year because we shift from winter production to summer stuff and back and the markets know that so...
  5. G8trGr8t
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    G8trGr8t Premium Member

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    small (20k barrels) but it will reduce the need to import diesel into the middle of oil country from hundreds of miles away.

    if Enhanced Oil Recovery using CO2 proves successful look for them to expand. Nobody is using EOR in the bakken right now, but it will move the needle on the amount of recoverable resources when they determine the best method for the geology there. Increase recoverable from 5 - 8% to 10 - 15% and you double the reserves of every company there

    Quantum Receives Funding Conditional Commitment For ND Refinery
    Published: Wednesday, April 23, 2014 12:14 PM CDT
    Quantum Energy, Inc. announced Tuesday that it has received a Conditional Commitment Letter from NBM Strategic Capital and its Grey Fox private equity arm for the $250 million dollar projected cost to construct the Fairview Refinery in East Fairview, North Dakota. “Grey Fox informed us that we have completed 23 of their 25 steps to funding and has provided Quantum with its Conditional Commitment Letter for the entire $250 million dollar construction cost. We have several other funding sources that are equally as encouraging and in various stages of commitment documents. The NBM/Grey Fox letter is a priority at the moment,” said CEO Andrew Kacic.

    Quantum announced recently its plan to construct the Fairview Refinery that will process 20,000 barrels of Bakken crude oil per day and will operate as a diesel topping plant. Upon closing, permitting and completed construction, the refinery is projected to generate annual revenues in excess of $600,000,000 with EBITDA in excess of $60,000,000 and employ 100 plus full time employees.

    Of special note, the refinery will be unique to any current or proposed design in North Dakota as it will include technology and equipment to capture CO2 emissions for use in an Enhanced Oil Recovery (EOR) program in the Bakken.

    Quantum also announced that given the NBM/Grey Fox Letter it has returned 7,283,600 shares of common stock to treasury as a result of the mutual rescission of the DCC Engagement Agreement for BDC funding.

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