For The Archives: Must Be A Slow News Day

The Bismarck Tribune is reporting.

I think the most remarkable thing is that outside of a few counties in western North Dakota, there is little evidence of a boom. If visitors get no farther west than Bismarck, they will hardly be aware there is an oil boom in North Dakota. I am sure that this is fairly true in the Minot area also. There is increased economic activity in Minot, but I doubt most visitors see it as busy as they thought it would be based on all the articles about the Bakken boom.

With regard to the linked article, thank goodness The Atlantic (Monthly) has already called the Bakken boom over.

On the other hand, my hunch is that things could end badly in the four counties most affected by the oil boom. The ranchers and farmers can take only so much. I am impressed they have coped (apparently) as well as they have. If The Bismarck Tribune notes these problems when the oil patch is not even averaging two wells/spacing unit across the Williston Basin, imagine the challenges when we get to two wells/spacing unit; then four, then eight. And as noted, some areas will have forty or more wells/spacing unit. There are enough locations to support active drilling through 2030, and that's just the Bakken/Three Forks. Then there's the Tyler, Spearfish, Madison, and Red River. And EOR.

My hunch is that sooner than later there will be a moratorium on new pads and operators will be required to drill the heck out of existing pads before building new ones.  To some extent, free market capitalism is already pointing in that direction.