Sunday, May 13, 2012

Housing Stories From Williston -- Heart of The Bakken, North Dakota, USA

When this story is put on the internet, I will link it. Maybe it's already there, and I missed it.

For now, this front page story in weekend edition of the Williston Herald: housing summit to be held in Williston to discuss building 5,000 more homes in Williston over the new two years.

In addition to that read on.

From the Minot Daily News, 1,344 more homes and 157-room hotel, new retail north of Williston. This is so big, the governor himself will be there:
Ground will be broken Tuesday for a 100-acre development for retail, housing and a hotel in Williston.

The developer, North by Northwest Development LLC, will unveil the future home of the site at Chandler Field, on the frontage of the main arterial of U.S. Highways 2 and 85.

The site has been approved for 223,400 square feet of retail, 1,344 multifamily units and a 157-room hotel.
Then this, from a reader, sent in as a comment, and more to follow, I'm sure:
There is also a development by Braxton that will be developing the acreage between the Fairground Road and 42nd street. That was supposed to be a 600 unit mix with club house. They are the same developers the built the Microtel and Hampton Suite hotels.  
And, of course, "old news" (about three days old):
Ground was broken Thursday for Sand Creek Town Center, also on the west side of Williston.
Sand Creek will include a 14-screen movie theater and Menards. Other businesses are expected to be added to the facility.


  1. There will be a glut of junk housing in 2 years: bank on it.

    1. Bookmark this page. I have added a follow-up in 2016.

    2. If so, folks will wonder why "they" didn't go with temporary housing (man-camps) and bonds requiring that temporary housing be completely removed as occupancy declined.

    3. Right, because the yahoos in charge won't change their mind for the nth time? I bet there will be many waivers issued for these bonds... you'll see.

    4. Apparently the "naysayer" can read into the future and knows the boom will go bust in 2 years? I think I will listen to the Oil Execs who say this is a different boom and they will be drilling for another 20 years and servicing the drilled wells for at least 50 years. I think the majority of investors will have re-couped their investments by then. 2 years? Ya, maybe if they are building for the boom in towns like Jamestown or Minot?

    5. You are correct: the UND studies -- "Basic Analysis of the Bakken" -- a couple years ago said exactly that: 20 years of drilling; 30 - 50 years of servicing those wells. And that was before folks started talking about a new estimate of original oil in place (OOIP).

      Right now there are two huge oil stories in the US: the Bakken and the Eagle Ford.

      Two years ago (or earlier) I said that the Bakken is bigger than folks realize.

      This boom different than previous booms? Yes, just look at the SLB, the BHI, and the HAL complexes just to get started. These guys didn't put all this in for a few years of drilling.

    6. Weatherford purchased about 100 acres east of Williston (Stoney Creek area) for their new super yard. When I was in Williston last week, I noticed they are doing a lot of dirt work and have their crew camp in place. Also, I found a site that shows project bids.

      Looks like KEY energy is getting ready to join the rest of them in Williston. A 5 million building. Close to 50,000 sq ft. 2 story, so am assuming it is a beginning of their new super yard as well.

    7. Weatherford: I knew they were consolidating/building east of Williston; lots of press on that last year. I wonder if the 100 acres you mention is a new purchase, or if this is their original area?

      KEY Energy: I had not heard that. Great news. I'm impressed. This continues to support my feelings that OOIP is much greater than original estimates.