Stoughton 鈥� The location chosen by Quantum Energy, Inc. and its wholly-owned subsidiary, Dominion Energy Processing Group, Inc., for the proposed was immediately adjacent to Crescent Point Energy鈥檚 Viewfield gas plant and battery, where the company has significant storage, connections to the TEML pipeline and its own rail loading facility a few kilometres northwest of Stoughton.
However, when Pipeline News contacted Crescent Point, they confirmed on May 18, 鈥淲e鈥檝e had no contact with the proponents of the project for a long time now. We unfortunately have no insight to provide you on this project,鈥� according to spokesperson Andree Morier.
Additionally, according to Randy Fleck, a long-time land agent with Land Solutions in Lampman, it is common practice to place a caveat on a property when optioning the land for a project.
However, a title search conducted by Pipeline News with ISC on May 10 found that Quantum/Dominion have placed no such caveats registered upon the two quarters, NE-8-8-8-W2 and SW-8-8-8-W2. There are numerous pipeline easements and other leases held by Crescent Point Energy Corp. and TEML Saskatchewan Pipelines Limited on the southwest quarter and none on the northwest quarter. But none of those easements and leases are with respect to the refinery project.
Its Feb. 28, 2018 annual report, obtained on otcmarkets.com, said in its audited financial statements, 鈥淥n December 5, 2016, the company executed a farm contract of purchase and sale with a land owner in Stoughton, Saskatchewan. The purchase price of the property is $500,000 (Canadian) subject to certain terms and conditions including approval of the purchase by the Saskatchewan Farm Land Review Board, the company completing various test for hydrology and land suitability, the proposed refinery project meeting all requirements of various Saskatchewan government laws and bylaws, and full approval by all levels of provincial government and agencies. The purchase contract originally expired on December 15, 2017, however, the contract was amended to extend the closing date to July 10, 2018 for removal of all terms and conditions to the purchase. The company paid $7,822 as a deposit on the property.鈥�
Crescent Point is, by far, the largest producer of oil in the Saskatchewan Bakken, with that Viewfield facility 小蓝视频 the key gathering point. The companies total Williston Basin production, which includes the Viewfield Bakken around Stoughton, its Flat Lake play at Torquay, and a small play in North Dakota, is approximately 106,000 boepd, according to its May 2018 corporate presentation. The company has 63 per cent of all Bakken and Torquay/Three Forks wells in southeast Saskatchewan, according to its May 2017 technical presentation.
This is key, as Andrew Kacic, currently director and secretary of Quantum Energy, Inc., and its CEO when the company was proposing refineries at five different locations in North Dakota and Montana, told Pipeline Newson May 17 that they were specifically targeting light, sweet Bakken oil, as other refineries were having difficulty refining it.
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The Refinery That Wasn鈥檛 series of stories
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