Observations on Building in The Bakken -- North Dakota, USA

I thought I had written this post last night but I can't find it, so if I am repeating myself, I apologize.

Driving around Williston something interesting stands out:

• the local field offices for the various E&P companies are rather ho-hum or even unsightly
• on the other hand, the offices for the oil service companies are generally very, very nice
• and the new homes in Williston keep getting nicer, bigger, and more expensive

With regard to the second point, Schlumberger is putting in a huge new complex just west of Williston. I don't know what will be there, but my hunch is it's going to be the finest building in Williston when it's complete, based on its exposure to the passing public. 

Now, about that first point. It's my contention that the E&P companies will eventually put in some very nice regional headquarters or field offices in the Bakken.

But it appears the E&P companies are starting to do exactly that. Going through the May, 2011, corporate presentation by Whiting Petroleum Corporation tonight provides evidence that this new building is starting.

Slide 24/25 is a photo of Whiting's new Robinson Lake Field office. It seems I've seen this picture before so it may not be all that new, but it still brings out the point. It's a gorgeous building and I think we will see more of this in the future. Both Oasis and SM Energy in Williston have very small office footprints, and I think it's just a matter of time before they upgrade.

Whiting's corporate presentations can be found at its website.