MMEX Resources Corp (MMEX)

[Panchoranchos]

Infrastructure Update: Two New Oil Refineries Planned in Texas
Earlier this spring, MMEX Resources and Raven Petroleum, a subsidiary of Raven Resources Group, announced plans to construct two new oil refineries in Texas. The refineries are planned for the Permian Basin and Eagle Ford Shale regions, respectively.

The MMEX facility is expected to have 50,000 BOPD capacity, while the Raven refinery is expected to have a capacity of 55,000 BOPD. This announcement is significant, given the infrequent construction of refineries, especially ones with large capacities. While large capacities are generally thought of as 100,000 to 200,000 or more BOPD, these new refineries will be largest in approximately 40 years in the United States. http://www.prnewswire.com/news-releases/texas-oil--gas-drilling-outlook-including-permian-basin-and-eagle-ford-300465425.html