Eagles Ledge Energy provides details on proposed Devils Lake Refinery project
Eagles Ledge Energy LTD. (“Eagles Ledge, or “the Company”) is pleased to provide a summary of the Company’s interest in exploring the development of a clean fuels refinery in North Dakota’s Devils Lake region.
Eagles Ledge intends to invest more than $200 million towards the design, construction, and development of a clean fuels refinery at Devils Lake. This refinery is anticipated to have a capacity of approximately 20,000 barrels per stream day (“BPSD”), and support approximately 500 full-time employment positions. 100 of these positions will be required in order to operate the refinery, while the remaining estimated 400 jobs will be supported throughout the surrounding region as result of the refinery’s required services.
In order to develop this refinery, Eagles Ledge has secured a 354 acre parcel northwest of the City of Devils Lake. This location was identified with the help of engineering services provided by the City of Devils Lake. This location features multiple benefits, most notably its proximity to road and rail access, North Dakota’s existing oil pipeline, and ancillary services necessary for the optimization of the refinery’s development capabilities.
Eagles Ledge is in process of establishing a new entity, American Dakota Refinery LLC (“American Dakota”), which will act as the proposed refinery’s principal operator. American Dakota anticipates filing its application for operation of the refinery with the state of North Dakota in January of 2015, upon the anticipated receipt of both positive due diligence results and support from the Devils Lake community.
Relationship with State and Civic Stakeholders
Eagles Ledge’s understands strong community and government support is crucial to the success of any project, and that the most successful projects arise as a result of mutually beneficial partnerships. Eagles Ledge believes that the City of Devils Lake supports the concept of developing a local state-of-the-art clean fuels refinery, particularly as a result of the potential economic growth associated with the facility.
Eagles Ledge is currently in the process of completing its due diligence on regulatory and licensing matters at both the civic and state level. Representatives from these groups will participate in a Town Hall Meeting scheduled for November 24, 2014. A further scheduled annexation meeting is planned for December of 2014.
As part of this process, an Environmental Impact Summary will be provided to satisfy environmental concerns for the area, including impact on surrounding properties. Eagles Ledge intends to engineer, design, and build a modern clean fuels refinery that takes full advantage of the latest technologies in order to minimize environmental impact.
For the full story see the front page of the Devils Lake Journal for Thursday, Nov. 20, 2014.