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Bakken Top Stories June 26 – July 3

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According to Baker Hughes, the U.S. rig count has increased by 10 this week, and oil prices have crept back up to around $50 per barrel. The anxiety associated with the British vote to leave the European Union only lasted a very short while, and things on Wall Street seem to have stabilized momentarily. In addition, U.S. Secretary of Energy ...

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Tesoro Corp. buys struggling oil refinery in North Dakota

BISMARCK, N.D. (AP) — Texas-based Tesoro Corp. has bought an oil refinery in southwestern North Dakota that has struggled to turn a profit due to a dramatic fall in demand and low diesel prices. North Dakota-based MDU Resources Group Inc. and Indianapolis-based Calumet Specialty Products Partners LP spent $430 million on the Dakota Prairie Refinery in Dickinson. It has not ...

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New Bakken refinery could bring jobs to Dickinson area

With the proposed Bakken refinery, Belfield, North Dakota might soon be the site of the second new refinery built in the United States since 1976.

The area west of Dickinson might soon get another diesel refinery, reports the Dickinson Press. California-based Meridian Energy Group Inc. says its focus on the development of what it’s dubbed the “Davis Refinery” is a reflection of its commitment to operating in the Bakken oil patch “with a commitment to the future and an eye to the big picture.” If ...

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MDU Resources Group delays plan for diesel refinery in Minot

BISMARCK, N.D. — Developers of a recently completed diesel refinery near Dickinson say they’re delaying plans for a second factory in the Minot area due to market conditions. Bismarck-based MDU Resources Group and Indianapolis-based Calumet Specialty Products Partners built the $430 million Dakota Prairie Refinery near Dickinson. It began selling fuel in May but has lost money in its first ...

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North Dakota’s newest refinery loses money in second quarter

DICKINSON, N.D. — North Dakota’s newest oil refinery lost money in its first few months of operation. The Dakota Prairie Refinery near Dickinson lost nearly $3.9 million in the second quarter, the Bismarck Tribune reported. MDU Resources Group cited “extremely difficult market conditions” for diesel fuel. Factors included higher prices for western North Dakota crude and an increase in demand ...

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Bakken crude refinery begins production

The Dakota Prairie Refinery located in Dickinson, North Dakota, has commenced operations. The facility has started producing diesel fuel and anticipates sales of the refined product to begin in May as the plant ramps up operations. Jointly owned and operated by MDU Resources Group Inc. (NYSE: MDU) and Calumet Specialty Products Partners LP (NASDAQ: CLMT), the refining facility is the ...

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