Link here. Minimal information, advertising site, but it's a start.
$5 million project; 46,000 square feet; three buildings, metal.
Key Energy Services has a market cap of $1.55 billion.
Folks, some folks feel we are well into this boom -- five years in the North Dakota Bakken boom -- and many folks, including me, thought we would start to see some leveling off of new building activity by now.
[Note: a definitional comment -- we are early in the boom with regard to drilling and production. We are in the first inning; drilling will go on for 20 years in the Bakken, and will produce through 2100. That's just the Bakken pool. However, as booms go, some would consider at five years into a boom we should start seeing signs of maturation with regard to building. That's the paradox of the Bakken at this point in time. I suppose another way of looking at this: the pace of drilling and/or production is currently at a steady, but almost predictable pace. Building activity, infrastructure CAPEX appears to be increasing suggesting several things.]
If the "old" estimates were accepted by the oil companies and the oil service companies I would expect that most building would have been completed by now. When I see companies like Key Energy now joining the others by building a $5 million complex, it supports my view that original estimates of OOIP were too low, and that original estimates of percent recovery, were also too low.
