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Murphy Oil sells ND corn ethanol plant

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http://www.ethanolproducer.com/articles/10621/murphy-oil-sells-hankinson-nd-plant-to-guardian

 

Murphy Oil sells Hankinson, ND, plant to Guardian

A group of cooperatively organized ethanol producers have joined forces to purchase a third ethanol plant for the group, this time in Hankinson, N.D.

Murphy USA Inc. announced before Christmas that it had completed the sale of its wholly owned subsidiary Hankinson Renewable Energy LLC to Guardian Hankinson LLC. Guardian acquired the 132 MMgy facility in an all-cash transaction through a membership purchase agreement, according to the Murphy Oil announcement. The purchase price for the transaction was $170 million plus estimated inventory and net working capital at closing of approximately $3 million. Murphy Oil purchased the idled former VeraSun plant in Hankinson in 2010....

 

 

 

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good to see another ethanol plant out of oils dirty mitts, back in the hands of smaller scale (not Poet/ADM/Cargill) ethanol company.

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I would argue that Mitch and Jason do a damn good job managing an ethanol plant (Carbon Green BioEnergy), and they should be a model for all plants and companies. Hopefully the new owners off this one have the same idea.

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