Though there is still a ways to go, supporters of rail in the Uinta Basin are feeling encouraged. In a press release issued Friday, the Seven County Infrastructure Coalition announced that they have selected private partner, Drexel Hamilton Infrastructure Partners, to finance and build the Uinta Basin Railway. The rail project aims to connect the Uinta Basin with the national rail network as a cost-effective solution for adding transportation infrastructure in the Basin. “Drexel Hamilton brings a wealth of industry experience and valuable resources and we are excited to partner with them to advance the Uinta Basin Railway,” shares Mike McKee, executive director of the Seven County Infrastructure Coalition. “This is an important milestone for the project and shows our commitment to furthering the railway to drive economic development, enable sustainable communities and enrich the quality of life for residents throughout the state and region.”
The press release states that Drexel Hamilton has been successful in developing oil export options. “We think the Uinta Basin is America’s most prolific stranded crude oil basin and deserves its place alongside the other great oil plays like the Permian and Bakken,” says Mark Michel, Managing Partner of Drexel Hamilton. “The Uinta is similar to Alberta oil reserves in Canada where transportation bottlenecks exist and have limited its ability to be refined in distant markets.” More information on this project can be found at
www.uintabasinrailway.com
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