As the oil industry completes its infrastructure design phase and enters its full development phase in 2012 and 2013, there's good news for residents, officials and community leaders in the oil communities experiencing this remarkable growth. Soon, nearly all of the infrastructure needed to develop the Bakken will be in place, and western North Dakota is settling into a period of steady growth.Compare that fact with this statement from SM's conference call:
As others have disclosed recently, equipment shortages and fabrication delays are a real problem in South Texas right now. In our particular case, we have seen several months of slipping schedules for delivery of tanks and vessels required for assembly of new tank batteries and other required facilities. Limited midstream capacity is creating high back pressures and reducing rates on our existing wells and sharply limits the amount of actual incremental field production we can generate from new completions.I have mentioned this directly or indirectly for the past two years.