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Posted On: 08/02/2017 4:33:20 PM
Post# of 106589
FORT STOCKTON, Texas (Local 2/Fox 24) - The oil and gas refinery planned near Fort Stockton took another step forward today.
Officials with MMEX Resources Corp. announced Monday the purchase of 126 acres of land in Pecos County for the construction of a Phase I 10,000 barrel-per-day crude distillation unit.
The site will house the unit, which will have a total footprint of 15 acres and will later be joined by a $450 million 50,000 BPD refinery in March.
Permits are expected to be filed soon and obtained within 45 days.
Construction on the refinery will take about 15 months, according to the company.
"The closing of out Phase I land site is a major milestone for the Pecos County refinery project and catalyst for significant milestones to come, including the filing of environmental permits to authorize construction on out small-scale initial refinery," Jack W. Hanks, President and CEO of MMEX, said. "We're eager to begin construction on this exciting project and stat bringing new jobs to the region."
During the second phase, MMEX officials say they intend to purchase 350 acres for the 50,000 BPD refinery.
Company officials say they strategically chose Pecos County for the site in order to take advantage of the existing rail system.
A principal officials for MMEX was opened in Fort Stockton in May.
Officials with MMEX Resources Corp. announced Monday the purchase of 126 acres of land in Pecos County for the construction of a Phase I 10,000 barrel-per-day crude distillation unit.
The site will house the unit, which will have a total footprint of 15 acres and will later be joined by a $450 million 50,000 BPD refinery in March.
Permits are expected to be filed soon and obtained within 45 days.
Construction on the refinery will take about 15 months, according to the company.
"The closing of out Phase I land site is a major milestone for the Pecos County refinery project and catalyst for significant milestones to come, including the filing of environmental permits to authorize construction on out small-scale initial refinery," Jack W. Hanks, President and CEO of MMEX, said. "We're eager to begin construction on this exciting project and stat bringing new jobs to the region."
During the second phase, MMEX officials say they intend to purchase 350 acres for the 50,000 BPD refinery.
Company officials say they strategically chose Pecos County for the site in order to take advantage of the existing rail system.
A principal officials for MMEX was opened in Fort Stockton in May.
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