Meridian Finalizes Off-Take Agreement With Kiva Energy

Meridian Energy Group Inc. (Belfield, N.D,), an innovator in the petroleum refining industry, confirmed Nov. 5 that it has entered into a long-term contractual agreement with Kiva Energy, a full service, wholesale provider of propane, with regard to all NGLs produced at the Davis Refinery.

Under the terms of the agreement, Kiva Energy will purchase all of Davis’ propane and will market all butane not used on-site. The agreement also provides a framework for similar arrangements at Meridian’s other planned projects, as the company expands its modern refinery footprint to West Texas, Oklahoma, and beyond.

William Prentice, Meridian chairman and CEO, commented, “Kiva is a valued long-term strategic partner. They have provided significant resources and cooperation over the past several years in connection with our development of the Davis Refinery and our planning for other U.S. projects. We look forward to working with them for many years to come.”

John Kamps, Kiva Energy CEO, added, “As both a Meridian shareholder and a strategic commercial partner, we look forward to contributing to the value of and sharing in Meridian’s success with the Davis Refinery and beyond.”

SOURCE: The Weekly Propane Newsletter, November 12, 2020. Weekly Propane Newsletter subscribers receive all the latest posted and spot prices from major terminals and refineries around the U.S. delivered to inboxes every week. Receive a center spread of posted prices with hundreds of postings updated each week, along with market analysis, insightful commentary, and much more not found elsewhere.