Bakken Shale opportunities are plentiful. That was the theme of a seminar held in Sioux Falls earlier in the week. South Dakota businesses are looking to capitalize on the opportunity in the oilfield in ND. To date, most oilfield services are fulfilled by companies from oil producing states on the coasts.
Highlights from the meeting include
- Bakken Shale development makes a $20 billion impact on the ND economy, alone
- The ND gross state product was $38 and the SD gross state product was $40 billion
- Over 9,600 mining workers live in Williams County, ND - The population was only 19,761 in 2000
- Housing developers are attempting to judge if there will be a resell market in five years - They've been asking that question for about five years.....
- Drilling times are 30% of what they once were and have fallen from 90 days to less than 30 days