The advisability of doing business in the Bakken is still being weighed upon the question of "how long will it last?"
Jeff Zarling, President at Dawa Solutions Group, LLC, had lots of information which he imparted to attendees of the Energy Expo in Billings, last week, but left it to each person to make their own prediction about how long the oil boom will last. Most of those in attendance were business people interested in expanding their services and products into the Bakken market.
The technology is now available to allow oil companies to recycle water used for hydraulic fracturing in North Dakota.
In what was described as a 'game changer,' the partnership of two companies, Halliburton and Nuverra Environmental Services introduced the new system in Watford City recently.
Western North Dakota's booming population and thirsty oil fields mean water is constantly in high demand. As communities upgrade their infrastructure to provide an adequate amount of drinking water, many are running into the same roadblock.
There's more oil where that came from, is the report of one Bakken company.
Most of the oil coming out of the Bakken has been coming out of what's called the "middle Bakken" and the upper portion of another formation known as the Three Forks Sanish or the "Three Forks."
What's in three lower "benches" of the Three Forks has been, until now, "a mystery."
Montana banks are performing comparably or better than national averages in many key areas, reported the Federal Reserve Bank of Minnesota recently. Montana's 62 banks "notably" improved in the second quarter of 2013, following "worsening" conditions in the first quarter.
With North Dakota production exceeding 810,000 barrels a day, a new forecast predicts the state will reach 937,000 BOPD by the end of the year and 1.1 million BOPD by the end of 2014.
Genscape is predicting that between May and the end of the year, producers will add another 127,000 BOPD of production.
"ABC continues to believe 2014 will represent a year of more vigorous recovery; however, 2013 has proven to be a bit
—ABC Chief Economist Anirban Basu.
While overall national construction employment remained unchanged in August, nonresidential construction lost 3,300 jobs, according to the Sept. 6 employment report by the U.S. Department of Labor. Construction industry employment has grown 3 percent, adding 168,000 jobs, since the same time last year. Nonresidential construction accounted for 42 percent of thatb growth—making August a deviation from what generally has been a positive nonresidential construction employment trend.
Yellowstone County, and Montana as a whole, have both recovered to pre-recession peaks, by most measures. However, 2013
will probably not be as good a year as was 2012, and economists at the mid-summer Economic Outlook "update" are scaling
back their projections. As it turns out, they say, with final figures in, 2012 was a better year than they originally thought.
The Big Sky Business Journal
P.O. Box 3262
Billings, MT 59103