Somerset Energy Refining

On November 14, 2008 Michael Grunberg and Grunberg Realty announced the closing of the acquisition deal for Somerset Oil.  Plans are to have 3 business units of Somerset Energy Refining in operation during first quarter 2009.

A few key elements of this deal that I find significant are:

  • Retention of Key Personnel allowing for capitalization of Institutional Knowledge
  • Commitment to capital funding for operations
  • Involvement by Key Congressional Representative to ensure EPA regulatory hurdles are met quickly

Somerset Energy Refining will be a vital part of the economic stability in the region and if the trends of local oil well production continues will have a regional reach that will add to a positive economic impact.


This entry was posted on Monday, December 1st, 2008 at 10:54 am and is filed under Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Somerset Energy Refining”

  1. 18 Months is the Witching Hour for Somerset Energy Refining « Answer Maven says:
    March 4, 2010 at 9:01 am

    [...] Hour for Somerset Energy Refining I have profiled Somerset Energy Refinery in the past, updated the profile and interviewed Michael Grunberg, the man who bought the refinery and brought it out of [...]

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