$2 Billion/Month Being Poured into Western North Dakota -- The Bakken, North Dakota, USA

The Dickinson Press link here.

The changes and growth in the Williston Basin landscape since last year are simply phenomenal if not mind numbing,” states Bruce Gjovig, Director of the Center of Innovation in Grand Forks, ND, one of at least 25 people who made the trek to Williston. “Western North Dakota has the most dynamic market economy in the United States, and growth through construction, expansion, and oil activity is abundant every place you look. Everywhere there is a ‘now hiring’ sign at the same time housing is booming but not keeping up with job creation. This economy is a wild west mix of great opportunity, constant chaos, and severe challenges.”

A lot of data points in that article. This is the most incredible data point:

• Oil and gas industry is pouring $2 billion/month into the Bakken

Other data points from the article:

It is reported that there are 200 rigs drilling around 2,000 wells per year in the Bakken, as North Dakota has moved from ninth to the fourth largest oil producing states with predictions that it will become the second largest oil producing state in the next year

There are more than 6,000 producing wells in western North Dakota according to the experts, and it is predicted that 25,000 or more wells will be developed in the next 14 years that will create more than 30,000 long-term jobs