The company has signed a letter of intent (LoI) to acquire 400 acres near the city of Baker at Fallon County in Montana in this regard.
Quantum noted that it also has an existing purchase agreement with Northstar Transloading for a refinery site in East Fairview, North Dakota.
To be run by Quantum Energy, the facility would refine 20,000 barrels of oil to produce 7,000 barrels of diesel a day and supply fuel to other energy companies and agricultural producers within a 100-mile radius.
Quantum Energy representative George Bailey said that the company also plans to open new refineries in Minot and East Fairview.
