Attorneys with the law firm of Thompson & Knight LLP represented WBI Energy, Inc., a subsidiary of MDU Resources Group, Inc. (NYSE: MDU), in the formation of Dakota Prairie Refining, LLC, a $300 million joint venture with Calumet Specialty Partners, L.P. (NASDAQ: CLMT) that will develop, build, and operate a diesel refinery in southwestern North Dakota. The transaction was announced on Feb. 7, 2013.
The facility will be located on a 318-acre site in Stark County, North Dakota, and will process 20,000 barrels of Bakken crude oil per day. The refinery is reported to be the first built in the U.S. since the mid-1970’s and is expected to bring approximately 100 new jobs to the area.
“While the Bakken continues to be one of the most active oil-producing regions in the U.S., this joint venture helps to answer a specific need for diesel fuel in the region. MDU Resources has a long and distinguished history of providing high-quality products and services in the energy industry, and we were pleased to assist them in this important matter,” said Richard S. Green, a Partner at Thompson & Knight. Green and Roger D. Aksamit led the Thompson & Knight team on behalf of WBI Energy.
Founded in 1924, MDU Resources Group, Inc., a member of the S&P MidCap 400 index, provides value-added natural resource products and related services that are essential to energy and transportation infrastructure, including regulated utilities and pipelines, exploration and production, and construction materials and services companies. For more information about MDU Resources, please visit www.mdu.com.
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