v Davis will be a 49,500 bpd full-conversion crude oil refinery in Billings County, North Dakota, in the heart of the Bakken
v Davis received its final regulatory approval in June 2018 – the Permit to Construct from the North Dakota Department of Environmental Quality (“NDDEQ”)
v Site Preparation for Davis began immediately upon award of the Permit to Construct, and rough grading of the site has been completed

Location • Billings County, North Dakota

Capacity • 49,500 barrels per day (“bpd”) of feedstock

COD • Q4 2023

Capital Cost • LSTK cost target being confirmed on an “open book” basis as part of FEED1
process (74% complete). Total Owners Costs < $1 BB

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