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Quantum Energy and Bilfinger Westcon Launch Strategic Alliance to Develop Multiple Refineries in the North Dakota-Montana Bakken Formation
Quantum Energy and Bilfinger Westcon Launch Strategic Alliance to Develop Multiple Refineries in the North Dakota-Montana Bakken Formation.
About this update from Quantum Energy, Inc.
[{"type":"text","content":"\n \n \n Quantum Energy and Bilfinger Westcon Launch Strategic Alliance to Develop Multiple Refineries in the North Dakota-Montana Bakken Formation\n \n \nQuantum Energy and Bilfinger Westcon Launch Strategic Alliance to Develop Multiple Refineries in the North Dakota-Montana Bakken Formation\n \n TEMPE, AZ--(Marketwired - Sep 15, 2014) - Quantum Energy, Inc. (PINKSHEETS: QEGY) has entered into a Strategic Alliance with Bilfinger Westcon Inc. (Bismarck, ND), a wholly owned subsidiary of Bilfinger SE (Mannheim, Germany) for the development of a series of diesel refinery projects throughout the Bakken Formation. \n \"This Strategic Alliance was created by the signing of a Joint Development Agreement that will seek to develop up to five 21st Century Clean Energy centers that will each include a 20,000 barrel per day diesel refinery. Our design plan includes the latest clean technology to capture the CO2 released from our facilities for use in Enhanced Oil Recovery (EOR) throughout the Bakken. Additionally, each facility will also include a natural gas liquids (NGL) stripping capacity of at least 100,000 barrels per day which will build barrel value, provide the potential for local/regional propane production and provide for significantly reduced crude volatility to facilitate enhanced rail tank car safety. We welcome Bilfinger Westcon's decision to join us as Bilfinger Westcon has been a key part of the development of the first greenfield refinery in the U.S. since 1976,\" said Andrew J. Kacic, Quantum CEO. Bilfinger Westcon is currently constructing a diesel refinery project in Dickinson, North Dakota that is expected to be completed around the end of 2014.\n \"The signing of this Strategic Alliance is a key milestone for both companies to drive the development of a series of refinery projects that constitute an integrated project approach (or program) for the future of U.S. refining in the Bakken Formation,\" said Dennis Chismar, Bilfinger Westcon VP of Business Development. The initial phase of this development will involve studies to support site evaluations, site selections and environmental permitting plans as well as various refinery market studies,\" Chismar added. \n \"It is the intention of both companies to collaborate for the full development and ultimate completion of the program projected to finish in the next several...