"A lot of eyes are watching," as Bay Limited in Billings begins moving large modular components across Montana roadways toward Canada.
President of Bay Limited's parent company, Berry Y & V, Ken Luhan, was in Billings last week to observe "what is almost a test case," to demonstrate the feasibility of manufacturing in Montana for the oil sand producers in northern Alberta. A lot of prospective clients are watching, said Luhan, about a project which has taken almost three years to implement.
The strategy behind the hunt for oil in North Dakota is about to change according to a report from KXNews Television in North Dakota.
Companies are pursuing new ideas about how to get oil to the surface. "For a few years now, oil companies have been rushing all over western North Dakota - drilling wells at a frenzied pace - trying to understand exactly what kind of pool of oil was waiting to be pumped out of Bakken."
Lynn Helms, ND Dept. of Mineral Resources, explained, "They were drilling a single well in a spacing unit trying to find the edges, the economic edge of the Bakken."
Besides energy development, North Dakota is also driving technology development according to North Dakota's Senator, John Hoeven, at a recent business conference, "The State of Technology: The Next Generation of Jobs in North Dakota."
Of the 16,000 job openings in North Dakota, about 60 percent of them are in high-paying, high-tech positions in the Red River Valley, rather the oil field counties. "These jobs are leading the country forward," he said.
MDU Resources Group, Inc. announced that K. Frank Morehouse has been named president of the corporation's utility group, which includes Montana-Dakota Utilities Co., Great Plains Natural Gas Co., Cascade Natural Gas Corp. and Intermountain Gas Co.
Morehouse's new role will be effective Jan. 4, 2013. He replaces David L. Goodin who earlier this month was named to succeed Terry D. Hildestad as president and CEO of MDU Resources upon Hildestad's retirement Jan. 3, 2013.
Polson is Montana's most business-friendly town, topping the list in a study that ranks the economic vitality, business tax burden and community allure of the state's 25 largest cities, according to a report released by two think tanks.
Officials with the Bozeman-based Montana Policy Institute and Alabama-based American Indicators say the study — "How business friendly are Montana's 25 largest cities?" by John Hill of American Indicators — provides a ranking of measures most sought by businesses.
Statoil ASA is leasing more than 1,000 railroad cars to carry crude oil from oilfields in North Dakota to refiners across North America, in a bid to overcome the pipeline bottlenecks that ,plague the booming oil-producing region.
According to NASDAQ, the Norwegian oil giant's railroad venture is a new sign of how the existing U.S. pipeline network is having a hard time coping with the oil boom triggered by hydraulic fracturing —forcing companies to come up with creative workarounds.
Labor Day weekend marked the end of the summer travel season, and preliminary figures suggest that it was a strong summer for tourism in Montana.
Montana hotel occupancy outperformed the national average in June and July, and Montana topped all 50 states with 84 percent hotel room occupancy in July. Demand for Montana hotel rooms also increased average daily room rates by nearly 8 percent in June and more than 4 percent in July over the previous year according to Smith Travel Research, Inc.
Small U.S. oil producers with big acreage in the remote Bakken shale field of Montana, North Dakota and Saskatchewan are ripe for acquisitions due to their cheap valuations, according to Reuters.
Companies operating in Bakken, where output is expected to double to about 1.2 million barrels per day by 2015, are cheaper than peers in other oil shales as poor infrastructure makes it difficult to transport crude to major markets on the Gulf coast.
The Big Sky Business Journal
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