TEMPE, AZ--(Marketwired - Jul 29, 2015) - Bakken energy processing developer Quantum Energy, Inc. (
"Native Son had its engineering completed and an application in hand looking for a site while Quantum has sites ready for the permit process. A joint venture was a logical and exciting way to expedite both of our objectives to bring increased local refining capacity to North Dakota," said Andrew Kacic, Quantum CEO. "Native Son has been ready with a completed permit package of our own with technology for a 40,000 bpd facility that doubles Quantum's proposed 20,000 bpd plan. The Quantum Berthold site allowed us to combine efforts for the larger facility and submit our minor source application today," said Rob Monday, Native Son Founder. "Our team includes engineers with previous successful experience in obtaining an air quality permit for a refinery facility in North Dakota. We expect it to be a 4-6 month process and are very confident of the outcome," Monday added.
The 40,000 bpd Quantum Native Processing Partners, LLC facility substantially increases previous Quantum projections. The Berthold refinery annual revenues using June 2015 prices are projected at approximately $1.2 billion while resulting annual EBITDA is projected at approximately $345,000,000. The capital commitment to build the facility is estimated at $645,000,000. The estimated output of the primary products from the crude processing facility in barrels per day based on a 360 day operating year include 18,400 bpd of gasoline; 13,200 bpd of diesel #2; 5,600 bpd of diesel #1 and 2,800 bpd of AGO/bottoms.
About Quantum Energy, Inc.
QUANTUM ENERGY, INC. is a development stage, publicly traded, diversified holding company with offices in Williston, North Dakota. Quantum places an emphasis in refinery development, land holdings, oil and gas exploration, drilling, well completion and fuel distribution and has recently entered into a Strategic Alliance with Bilfinger Westcon (www.westconindustries.com) to develop multiple Energy Centers throughout the Bakken. www.quantum-e.com
Safe Harbor Forward-Looking Statements
To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, further milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.