Monday, December 11, 2017

Bakken Economic Activity Shifts Farther West -- Grand Forks Herald -- December 11, 2017

This story caught two readers' attention; sent me the link. I had not seen the article; much appreciated.

Williston, Watford City, Minot economy during the Bakken "manufacturing" stage, from The Grand Forks Herald. Data points:
  • Minot: commercial activity steady, but activity moving west (to Williston and Watford City)
  • Minot: 2017 was a good year; 2018 should be better
  • real estate returns in western North Dakota higher than most of the country
  • most Minot investment coming from out-of-state
  • during the boom, Minot was the economic center; farther west did not have the infrastructure in place to support workers
  • Williston: now the economic center for the Bakken
  • Watford City: the center of activity in the Bakken
  • Minot: as above
  • Dickinson: probably the least activity of the four Bakken cities
  • construction on new hospital in southwest Minot should commence next spring
This will drive a lot of economic activity over the next few years: natural gas processing plants. Previously posted:
From The Bismarck Tribune:
A significant expansion announced last week for a new McKenzie County natural gas processing plant aims to reduce gas flaring in the region.
Crestwood Equity Partners proposes to expand the Arrow Bear Den gas processing plant near Watford City, adding another 120 million cubic feet per day of processing capacity.
That’s in addition to phase one of the plant, which just came online last week and added 30 million cubic feet per day of processing capacity.
Ron Ness, president of the North Dakota Petroleum Council, said he suspects more companies will make similar announcements to keep up with the expected growth in natural gas production.
The state produces 1.9 billion cubic feet per day of natural gas, a figure the North Dakota Pipeline Authority projects will exceed 3 billion cubic feet per day by 2030.

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