November 15, 2014: Quantum "drops" plans for a energy center at Billings, Montana.
The Arizona company is planning to develop up to five refineries designed to produce diesel fuel from Bakken crude oil.
Quantum announced earlier this month that it had signed a two-year option agreement on a 260-acre refinery site in Stanley, N.D., a town of around 2,000 people and the county seat of Mountrail County about halfway between Minot and Williston.
In addition to the Stanley agreement, the company has signed option agreements for property in Baker and Fairview, towns about 100 miles apart on the Montana and North Dakota border.
In August, Quantum officials announced that Billings also was under consideration in its plans to build up to five 20,000-barrel-per-day Bakken crude refineries, each at a cost of about $500 million. They presented their proposal to Yellowstone County commissioners on Aug. 19. But since then, there hasn’t been any contact between the company and the board.
The company has signed a two year Option Agreement on a two hundred sixty (260) acre site in the Stanley, North Dakota area in Mountrail County, North Dakota for the construction and operation of an Energy Center that will include a 20,000 barrel per day topping plant diesel refinery.More on this later, perhaps.
I see AAPL is up another $1.50.