Meridian has entered into agreement with a Winkler Company subsidiary (“Winkler”) establishing site control in Winkler County, Texas for a new Meridian full-conversion crude oil refinery. This new Meridian refinery will process local Permian (Delaware Basin) crude oil into a full slate of refined products for local and regional markets.
There will be up to 100 new direct hire jobs created at the Meridian Permian Refinery. Job creation studies by the State of Washington for refineries located in Anacortes, Washington, show a job multiplier effect of up to 12:1. If the same held true in Winkler County, this means there will be total job creation, including indirect and induced jobs, of up to 1,200 new jobs for the local community.
The Permian facility will also be permitted as a Synthetic Minor Source (“SMS”). The Davis Refinery is the first full-conversion crude refinery ever to be permitted as a Synthetic Minor Source, and Meridian believes that Davis, and now Permian, will be the cleanest refineries on the planet when they are operational.
The Meridian facility in the Permian Basin will have a throughput capacity of approximately 58,000 bpd and will otherwise be modeled on the Company’s North Dakota Davis Refinery, which is currently in construction.
Meridian Energy conservatively estimates this project to take about three years to begin full commercial operations, although it could be less.