Glendive, Montana -- about 100 miles from the epicenter of the boom is starting to feel effects of the boom. Billings Gazette link here.
Even Texas native Jim Cargill, president of Dawson Community College, has never seen an oil boom quite like the one exploding into Montana from North Dakota.By the way, just before I left Williston a couple of weeks ago, motel rates had reached the $250/night threshold at one motel; most motels were in the $190 to $200 range.
Earlier this year, Cargill began noticing the boom’s effect on his college, located less than 100 miles from Williston, N.D., the epicenter of the hectic Bakken oil development.
A one-bedroom apartment in Glendive that used to rent for $400 now goes for $800 to $1,000. Mobile homes rent for $1,000 or more.
Motels and hotels are filled, too, with some oil field crews now living in Glendive because there are no vacancies in Williston and Sidney.
Glendive is taking the boom west. Meanwhile in the south, along with Almost, North Dakota, which doesn't like a lot of men living together in one building unless they are monks or construction workers, Glen Ullin has been affected by the boom. Glen Ullin seems to have its act together: the headline suggests otherwise, but Glen Ullin is willing to work with companies on a case-by-case basis. The Bismarck Tribune link is here.
That's actually pretty amazing. These suites, located on 85 near Watford would be better than most hotels and are going for much less than that per night. However, you do have to commit to at least a week's stay. That might not be too much of a stretch, for those who are investigating the area.
ReplyDeleteI know people are having to resort to living in places that I'd be afraid for their winter safety. It gets awfully cold up there.
I believe that the Eastern Montana area is going to feel this boom througout 2012 and 2013 as drilling should steadily increase with each passing month. Problem for the oil companies is that numerous leases will be expiring in 2012 and early 2013 in a majority of this area in Eastern Montana. I can see alot of top leasing and re-leasing fixing to occur. The mineral owners should benefit in all areas in new lease negotiations.
ReplyDeletecomment not related but got info this weekend that there are a bunch of huge geophysical trucks being staged for assembly in New Salem, no link but eye witnessed first hand
ReplyDeleteWorthy of a stand-alone post which I will do later. Thank you. More evidence activity moving south.
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