US Calumet, WBI Energy team up to build Midwest refinery

08 February 2013 19:14  [Source: ICIS news]

HOUSTON (ICIS)--WBI Energy and Calumet have agreed to a joint venture to build and operate a refinery in southwestern North Dakota, the companies announced this week.

Shares of Calumet were at $34.55 midday on Friday, up 3.85%.

The joint venture will be called Dakota Prairie Refining, the companies said.

Construction could begin this spring on the facility, which the companies said will process 20,000 bbl/day of Bakken crude oil when fully operational. Construction is expected to take up to 20 months.

The plant, to be located on a 318-acre (129ha) site west of Dickinson, North Dakota, is expected to employ about 100 people.

WBI Energy, an energy producer as well as pipeline and energy services company, is a subsidiary of MDU Resources Group, whose headquarters are in Bismarck, North Dakota.

Calumet, headquartered in Indianapolis, Indiana, is a refiner and processor of specialty hydrocarbon products.

By: Jeremy Pafford
+1 713 525 2653

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