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Natural gas prices have increased 130 percent over a year ago, and the surplus is dwindling according to Energy-facts.org. The price has climbed from $1.85 to $4.26/mbtu, while supplies have plunged from 900 billion cubic feet to -804 billion cubic feet. Energy-facts.org opposes an "over-reliance on natural gas," because of its historic fluctuations in supply.
Continental Resources increased to 900 billion barrels the potential oil "in play" in Williston Basin.
Encouraged by the success of a new second bench Three Forks well, Continental Resources is reaching out to tap into more new potential seen in these additional layers of rock in the Bakken play in an area 60 miles wide and 75 miles long.
Oilfield infrastructure demand in the next five years in North Dakota and Montana is expected to soar to several billion dollars based on an average yearly 225-rig drilling program that would double the production to 1.6 million barrels a day by 2017.
The need for more gas processing plants, feeder oil and gas pipelines, water supply systems and roads is enormous. Oneok Partners of Tulsa has already spent more than $2 billion on four gas processing plants in two North Dakota counties as well as a complex of feeder pipelines.
Health Care Reform and the New "49ers" and "29ers"
Many already know that with the new Health Care Reform laws, the benefits world is a hard one to navigate for businesses - especially in the coming year. Small businesses hiring under the new health law are entering a whole new world.
Billings is well positioned when it comes to enticing companies to locate here – at least some businesses.
Identifying just exactly who those businesses are was the point of a $74,000 analysis commissioned by the Big Sky Economic Development Authority, (EDA) an agency of Yellowstone County with the mission of assisting the growth of existing businesses and recruiting new business to the community.
What exactly is meant when the media reports that construction of new housing is recovering?
While the decline in new housing starts may have bottomed, talk of recovery might be strong language when one considers where the market is in relation to what was happening at its peak, according to one Billings broker, Howard Sumner. Sumner provides charts to make comparisons to where the market once was compared to its current status and to compare what is happening nationally with what is happening locally.
A Wyoming judge rejected efforts by environmental groups to open up confidential oil company records that detail information about hydraulic fracturing chemicals. In a ruling issued March 25, Dist. Judge Catherine Wilking in Casper backed up the Wyoming Oil and Gas Conservation Commissioner, whose supervisor has refused to release chemical formulas because they are considered trade secrets.
West Coast refinery markets offer better pricing for Bakken crude oil shipped by rail, compared to East Coast markets, which are almost double the per-barrel pricetag, according to a report in the Oil Patch Hotline.
"The most profitable market is going west," said Steve Magness, managing director of Bakken Oil Express, which ships by rail from its Dickinson, ND terminal.
The Big Sky Business Journal
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