This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

MDU Resources Group, Inc. And Calumet Specialty Products Partners, L.P. Announce Receipt Of Air Permit To Construct For Dakota Prairie Refining

Stocks in this article: CLMT MDU

MDU Resources Group, Inc. (NYSE: MDU) and Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) announced that the North Dakota Department of Health has issued an Air Quality Permit to Construct for Dakota Prairie Refining, a diesel refinery the two companies are developing in southwestern North Dakota.

“Approval of the air quality permit means that we can begin construction within the next month, and the facility can be operational and helping supply North Dakota’s diesel fuel market by late 2014,” said David L. Goodin, president and CEO of MDU Resources. “We are committed to operating this state-of-the-art facility responsibly and safely, and we appreciate the rigorous permitting process conducted by the health department.”

“This facility will be an important contributor to the local and state economy,” said Jennifer G. Straumins, president and chief operating officer of Calumet’s general partner. “We appreciate the help of the state’s agencies and officials to identify issues and help solve problems in a manner that has brought this project from concept to reality.”

The facility will process 20,000 barrels per day of Bakken crude oil. The plant will be located on a 318-acre site located west of Dickinson in Stark County, N.D. It will employ approximately 100 people. Hiring and training of operating personnel is expected to begin in 2013. The plant will employ its own plant manager and management team, who will report to a governing board composed of representatives of WBI Energy and Calumet.

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, see the company's website at www.mdu.com or contact the Investor Relations Department at investor@mduresources.com .

Calumet Specialty Products Partners, L.P. is a master limited partnership and is a leading independent producer of high-quality, specialty hydrocarbon products in North America. Calumet Specialty Products Partners, L.P. processes crude oil and other feedstocks into customized lubricating oils, solvents and waxes used in consumer, industrial and automotive products. Calumet also produces fuel products including gasoline, diesel and jet fuel. Calumet Specialty Products Partners, L.P. is based in Indianapolis, Indiana and has eleven facilities located in northwest Louisiana, northwest Wisconsin, western Pennsylvania, Texas and eastern Missouri.

Forward-Looking Statements

Except for the historical information contained herein, the matters discussed in this release are forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ materially from results anticipated in the forward-looking statements. These risks and uncertainties include, among other things, the ability of the parties to complete financing of the project, the ability of the parties to obtain required regulatory permits, the cost and time to complete the project, and the availability of crude petroleum product and markets for processed products. These and any other statements about future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements.



1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,030.99 -26.10 -1.27%
NASDAQ 4,687.3870 -84.3760 -1.77%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs