Bakken Shale Blog
It may not come as a huge surprise to readers on this site, but the lucrative Bakken oilfield has made several North Dakotans very wealthy. According a study released by Phoenix Marketing International, North Dakota jumped from its ranking in the number forty-three (43) spot of millionaire households per capita in 2012 to twenty-nine (29) in 2013. That’s faster than any other state in the U.S., and accounts for 13,494 millionaires.
This significant injection of wealth has changed the landscape of the state in some ways, with specialty boutiques and high end retailers popping up in areas that likely wouldn’t have made the cut in a market study several years ago. See more on how things are changing for folks living in North Dakota:
However, with the increase in some North Dakotans bank accounts, not everyone is changing.
The Williams County Commission moved on Tuesday to approve a settlement agreement with Stallion Oilfield Services Ltd., over a proposed $2.6 million fine for temporary housing permit violations. [Read more…]
Forbes has ranked the state of North Dakota second for business. The study credits the Bakken Shale for North Dakota’s promising economic metrics.
When looking at the economy alone, North Dakota tops the list. The state can boast about the following annual averages over the past five years: 3.7% job growth, 3.8% income growth, 7.9% gross state product growth, and 3.6% unemployment (just 2.7% today). [Read more…]
Harold Hamm, CEO of Continental Resources, submitted an article touching on the importance of energy independence and horizontal drilling. [Read more…]
BP has published its annual statistical review of world energy trends for over 60 years. This year’s report is as interesting as ever. A short video presentation and our takeaways are included below. [Read more…]
The North Dakota rig count reached an all time record on November 19, 2011, when the ND Oil & Gas Division announced there were 204 active rigs working in the state.
The overwhelming majority of rigs are targeting the Bakken and Three Forks formations. With oil prices holding strong and gas prices dropping through the fall, I expect we’ll potentially shoot through this record when a few gas directed rigs head our way.