The Davis Refinery – the first modern, full-conversion, greenfield oil refinery constructed in the U.S. since 1976!

THE MERIDIAN DOMESTIC REFINING STRATEGY is to enhance energy independence and national security and reinvent the refining industry by building clean, safe, efficient, reliable and highly profitable refineries.

  • Average age of existing U.S refineries is over 50 years – the last full-conversion refinery was built in the 1970s! Domestic refineries are inefficient and require significant downtime for planned and unplanned maintenance/repair, resulting in numerous recent permanent plant closings amid a hodgepodge of age-extending modifications, instead of meaningful improvement and new capacity.
  • Meridian applies advanced but proven processing and environmental control technologies to process a single, homogenous, high quality, shale-derived feedstock such that virtually all refined product is high-value transportation fuel meeting today’s rigorous environmental standards. Among the benefits of Meridian’s approach are greatly reduced emissions (Synthetic Minor Source – state and local permits), higher efficient and longer useful life, low operating costs.

THE MERIDIAN DAVIS REFINERY in North Dakota is the first refinery employing the Meridian refining strategy.

  • 49,500 bpd, fully permitted, with engineering for a definitive estimate nearly complete on an “open book” basis by major international contractor with essential terms needed to close final project financing.
  • Construction of Davis has commenced under CDU EPC Agreement for the crude distillation unit. Close of project financing expected 3Q 2026, Davis will be in full commercial operation 30 months thereafter.
  • Feedstock from nearby Bakken shale formation at a substantial discount to WTI. Approximately 94% of Davis refined products distributed under long-term (10+ yr) offtake arrangement with largest U.S diesel/gasoline distributor for placement into the most profitable regional markets.

LOCAL GOVERNMENT AGENCIES AND PERMITTING AUTHORITIES have embraced the projects as permanent job creators and a net contributor to the quality of life in the region. The Permit to Construct was issued in June of 2018 by the North Dakota Department of Health – Air Quality Division and Site Construction began in July 2018. The Davis Refinery will enjoy several competitive advantages, including: the proximity to oil production; the use of low cost natural gas to operate the plant; its strategic location with direct access to major transportation infrastructure; the business friendly climate of North Dakota fostered by state and local officials.

Currently, more than 1.2 million barrels of oil are being produced in the Bakken every day. Over 95% of it is being shipped at great expense to refineries hundreds of miles away on the east, west and gulf coasts. This is because there is only 94,000 barrels per day of refining capacity available in North Dakota. Locating the refinery in the heart of the Bakken will ensure a steady supply of below market crude oil feedstock from production companies seeking transportation savings and a local market for refined fuels.

As a byproduct of the tremendous growth of the Bakken oil play has been the co-production of a significant amount of natural gas. About 1/3 of this gas is currently being flared, vented or is “no bid” and is available to Meridian at a cost well below hub prices paid by competing refineries. Also, the use of gas to operate the plant will allow 100% of the crude intake to be processed without a parasitic effect. The plant will have emissions so low it won’t require an EPA permit.

The Burlington Northern Santa Fe main rail line runs through the property and Meridian will construct a petroleum liquids delivery and uploading facility on the property. Belfield, ND is at the intersection of the two main highways in the state, Interstate 94 and State Route 85, facilitating truck transport of fuels to market. Oil and gas pipelines run adjacent to the Davis site, adding yet another means to affect the delivery and export of feedstock and refined goods.

There is not likely a more business friendly state in the union compared to North Dakota, whose officials have urged Meridian to proceed with its Davis Refinery plans. Our presence is an integral part of the state’s plan to solve three major issues it faces: the creation of permanent jobs, the shortage of diesel fuel and the environmental crisis of the flaring of natural gas. Meridian expects to receive expedited permitting for the plant.

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