MMEX Resources Acquires 126 Acres for Refinery Project
- Aug 07, 2017
MMEX Resources Corp., a development-stage company specialized in the acquisition, development and financing of oil, gas, refining and infrastructure projects in Texas and South America, acquired 126 acres near Fort Stockton in Pecos County, Texas. The company intends to build a Phase I 10,000 barrel-per-day (BPD) crude distillation unit at the location.
On the 126-acre site will be built a smaller-scale refinery with a total footprint of 15 acres. The company intends to file necessary permits and expects to receive full permitting on the initial unit within 45 days of filling. Construction will begin as soon as all permits are issued and is estimated to take 15 months to complete.
“The closing of our Phase I land site is a major milestone for the Pecos County refinery project and a catalyst for significant milestones to come, including the filing of environmental permits to authorize construction on our smaller-scale initial refinery. We’re eager to begin construction on this exciting project and start bringing new jobs to the region,” President & CEO Jack Hanks, said in prepared remarks.
A bigger plan
As part of the land sale agreement, MMEX also intends to acquire an adjacent 350 acres for the construction of the Phase II 50,000 BPD refinery, which will have a footprint of 250 acres. Construction of the second phase should begin no later than January 2018.
The Pecos County refinery site has a convenient location on the Texas Pacifico-South Orient Railroad, 20 miles northeast of Fort Stockton, and will leverage existing rail, roadway and pipeline infrastructure for both crude supply and the sale of refined products. The Texas Pacifico-South Orient Railroad interconnects to the Dallas-Fort Worth area, the Texas Gulf Coast and Mexico at Presidio, which will facilitate for the export of refined goods internationally.
Image courtesy of MMEX Resources Corp.