Dominion Energy Processing Group鈥檚 plans for an oil refinery at Stoughton are still being worked on, according to Jeff Mallmes, the president and chairman of the board of the parent company, Quantum Energy.
鈥淲e are completing the S-1 and have filled it waiting for SEC response. Completion of this process is critical to raising funds to proceed with the project in Stoughton,鈥� he said.
The company has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a follow on public offering of its common stock in a primary offering as well as a secondary offering of existing security holders.
The company expects to use the net proceeds of the primary offering to complete Phases I and II of the Stoughton refinery project through its wholly owned subsidiary, Dominion Energy Processing Group, Inc. www.dominionenergyca.com.
The former head of Dominion Energy, Keith Stemler, resigned on Feb. 24, 2018, but Mallmes said the Stoughton refinery project is still a go at this point. 鈥淚 can say that Quantum is still very interested in the Stoughton project,鈥� he said.
Dominion Energy鈥檚 goal is to conduct the development, construction and operation of a 40,000 bpd full slate refinery. The company contracted for its proposed refinery site in the Stoughton area, in the Viewfield crude production area adjacent to the Crescent Point Energy gas plant, on a 480-acre site, which is located just south of Highway 13.
Dominion Energy hosted two public meetings in Stoughton with each attended by more than 250 people. The first meeting was held on Jan. 19, 2017 in Stoughton as a public forum to introduce and describe the proposed refinery project. The second meeting was held on Feb. 15, 2017 and was a meeting for prospective contractors, which was also well received with a large attendance.
According to information from the company鈥檚 website, the Dominion refinery鈥檚 key project design variables also includes CO2 recapture to limit greenhouse emissions and to support long-term tertiary recovery for EOR within the Canadian Bakken/Torquay region; the development of an 85MW steam-driven co-generation power plant that will not emit atmospheric CO2; and a variable control system that will enable the plant to modulate between varieties of commodity products.
