Transcript of DAPL meeting

Audio from a post-election corporate DAPL meeting was posted on Soundcloud. I thought a transcript might be helpful to someone so here is a super rough transcript. One of the most telling parts of this audio is when they couldn’t remember that they were working with the Army Corp.


(inaudible)

merry christmas everyone
this is a great reminder here of what christmas can be in beautiful place like this blah blah

I’ve been charged this morning with talking about DAPL, cause it’s obviously something that’s on the forefront of everybodies mind. I really WANT TO HIT IT ON TWO FRONTS.

First of all kind of the technical side of DAPL AND WHY we did it, and what the project was all about.

I’m sorry? (inaudible, other voice.)

You know DAPL is really kind of a pipeliners dream project, if you look at it this is a pipeline that can move 470,000 thousand, up to 570,000 barrels of crude oil a day.

Sweet Bakken Crude coming out of the state of North Dakota.

We’ll move it down to Patoka Illinois where it (inaudible) 1:02
and then we’ll converge there into another oil (inaudible) pipeline where we can move those barrels on down to nederland texas and then eventually we’re tie that into (inaudible) bridge and we can make it all the way to St. (inaudible) Louisiana. So this is a possibility of (inaudible) crude oil barrels from one of the largest and most prolific basins in the United States, the Wilson basin, all the way down to the Gulf Coast refineries.

When we announced our project we were not the first ones to announce a mighty (sic) pipeline in the Bakken.

But credit to the commercial guys, and to engineering and construction and everyone else, finance guys too, that put this project together. We charged to the forefront, two of the competitors (sic) bowed out of the process, because we locked up the the top shippers in the area early, and so as a result of that we got, you know, essentially a fully subscribed pipeline out of here that we have built on budget, and essentially on time.

So that’s kinda the overall look at the DAPL pipeline system, you can see it there, that also we produce petcoke, which goes from Illinois all the way to Nederland.

It’s a superb (sic) project, that’s not been evidenced any more clearly than the fact that we decided that we would derisk the project a little bit for ourselves, and uh, perhaps take some of our money off the table, we put up 37 and a half interest in the Bakken pipeline for sale last year, and a combination of Marathon, Enbridge, looks like Al Merra (sic), (inaudible)…acquired seven and half percent for 2 million dollars. Essentially at the end of the day, we’ve gotten our (inaudible) in the pipeline to be very low, still have a controlling interest, still operate it, so it’s really, you could not have a more exciting project.

So now let’s turn to the second part of it. And thats politics. We have been in quite a fight here, um, on DAPL …. 
but let me just say (inaudible) we’re gonna build the pipeline
make no mistake about it the pipeline is going through
it’s going through exactly where we have planned.

(inaudible) there’s no mistaking that.

We have not stopped for 1 second on the construction of this pipeline
unless we were ordered to stop by court, which we were then ordered to stop twice, 
and ultimately both of those courts who did order us to stop went and looked at the facts.

Which is very hard to come by, in this process, but they went and looked at the facts and looked at those injunctions, so we have now built a pipeline up to both sides of Lake Oahe. Up to the point where all we lack is about eleven hundred feet from the federal government, and then about four thousand feet under Lake Oahe. Now we can make the point and we are making that point in Federal Court that we believe the government has already approved the easement that we need to get across federal lands. But that is pending right now in federal court in Washington DC, and those hearing are scheduled I think in February of this year.

The politics of this thing have been unbelievable. Never in my lifetime being in the oil and gas business did I think I would be having an argument with regulators where we’ve done nothing except play by the rules, we pride ourselves in this company, and I think it’s pretty (inaudible)

That we’ve always always played by the rules, we’ve crossed every T, we’ve dotted every Eye, and it was evidenced by the fact that when we came under attack here, and you (inaudible) go back and look at the political record, and there was never anything, not one thing that came out, 
(inaudible)

…It was a treaty to the people in this room…it was a confirmation that we, we did it by the book. It was evidenced most notably by Judge Boshberg (sic) when he (inaudible) the (inaudible) opinion. 
These guys have done everything they were supposed to do, the opposition had a chance to consult, they didn’t, if you’re not going to come to the table and play by the rules then this is fair, there should be no (inaudible).

At that time (inaudible), three agencies the department of justice, the department of the interior, and the uh….

Other voice: “Army Corp!”

The army corp of engineers actually the department of the army issued an edict 
saying they wanted to review the environmental laws again and they have strung this thing out, and continue to string this thing out. And so, all we can do is go by the rules and (inaudible) our case in Federal Court. But I have to tell you one thing in this room.

Election night changed everything, we now are going into a transition where we’re gonna have a new president of the United States, which, who gets it, he understands what we’re doing here and we fully expect, fully expect, as soon as he is inaugurated his team is going to move to get the final approvals done and we’ll begin to put DAPL across Lake Oahe. 
It’s about a sixty-four day drill that we have left, like I said, we drilled on both sides of the river up to on the river up to the point where we actually touch federal lands, but we need about sixty-five days up there and cooperation with the weather.

I think sentiment has changed in the area and the people of north dakota, Joey M (inaudible) and I were up there yesterday and Grant Buckle, we met with some of the officials of North Dakota, we met with the national sheriffs association, people are tired of this
they are tired of seeing what’s going on in their community.

And I think that the tide has turned and people understand what a great project this could be for the state of North Dakota, it came right out of the Governor’s mouth, he’s very much in favor of this thing. I think we’re all done running on DAPL, I know everybody in this room has had to deal with protesters, everybodies thats in this room has had to read on social media the misinformation that’s out there, it’s not fair. We feel like keeping out head down and doing what we do best which is put this pipeline in the ground is the best thing we can do, we never stopped doing that, um you know, alot of times, people say to me, and I’d like to answer this question more directly-
why don’t we just immediately answer back every time something is stated wrong about the company and what we’re doing.

you have to understand and i didn’t really understand until I got kinda deep into it. This is not really about water and this is not about (inaudible) about environmental activism. these are people tjat are pushing to keep all fossil fuels in the ground at every angle
And make no mistake
this is an event they are using to raise lots and lots of money, if they can create a cause, and they can create a lot of publicity, (inaudible), it’s an avenue for that (inaudible) to raise money, not only to fight us on this project, but to fight all projects (inaudible).

So we’ll continue to fight through this thing but please please please be confident in this company, we’re gonna get this thing through in short order, 
we couldn’t be more confident of that fact, and look forward to (inaudible), this thing in spring of next year.

Thanks for having me

Thanks Matt?

Inaudbile.

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