KSJB Local News
Managers of North Dakota’s Legacy Fund are reviewing whether to put public investment dollars into a long-delayed oil refinery near Theodore Roosevelt National Park.
The North Dakota Monitor reports a New York investment firm overseeing part of the Legacy Fund is in the early stages of evaluating a ten-million-dollar investment in the Davis Refinery. The one-billion-dollar project sits just outside Belfield, a few miles from the park’s boundary.
The refinery was first proposed in 2016. Meridian Energy Group still holds the air and water permits but has faced years of delays and financing struggles. The company now says it hopes to break ground in 2026.
Environmental groups have long opposed the site, while some industry supporters point to potential jobs and more in-state refining. A local lawmaker who supports the refinery has also questioned whether the Legacy Fund should back a project still seeking early seed money.
Investment decisions in this portion of the thirteen-billion-dollar fund are made by the outside manager, not directly by state officials.
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