MMEX Resources Corp (MMEX)

[jmjjw]

The two crude storage tanks (T-50, T-51) that MMEX had permitted are 95-foot diameter, 75,000 bbl. floating roof storage tanks.

The actual costs vary widely in the industry, based on the exact type of construction (shop fab, field welded, hybrid), the choice of steel (U.S. vs. import) coating, dike height, etc.). A common average is $25/bbl for new construction, so a 75,000 bbl tank would run about $1.875-million for just the tank, including foundation, stairs/ladders, stiles, vents, run-off control, controls, and directly related appurtenances.

The piping, racking, transfer pumps, etc. are all extra.

Used tankage is possible - again, costs depend on the source tank, its distance from the site (transport), and the construction of the tank - a hybrid, that was partially shop-welded in sections, and bolted in the field can be disassembled and transported, but still requires new foundations, dikes, etc. Crude tanks, especially those used to store high-API stock pretty much have to be floating roof for vapor control - a used tank of this type leads to all kinds of problems, and only a moron would go that route because of the operational and safety problems that would result.