Williston's Weekly Economic Report -- August 24, 2018

Booming, from myndnow:

Oil and gas production is near record levels and the economy is showing impressive strength as well. 

Is this the dawn of a new oil boom in North Dakota? Jim Olson set out to find the answer in Williston.  "Things have definitely picked up for us," said John Lisle of S&B Drilling. "In 2015 we had three employees. In 2016 we had 12. And now we're up to 20 employees." It's the same story for Katie Kringen. 

"We turn two in the fall and we have 14 therapists here," said Kringen. That's up from 2016 when she started her pediatric therapy office as the only employee. 

Airport opening on track, from myndnow:

The new, quarter-billion dollar Willilston Basin International Airport is going to be open by the target date of October 10 of 2019. "It's difficult but we've got a good team and they're making good decisions and we've got good contractors that are working hard out there and we're not going to fail, we're going to get this project done," said Klug. The $230M to $250M project is being paid by federal (50%), state (25%), and local governments (25%).

NG plants: previously reported, but now from NPR:

More natural gas processing plants are coming on-line in the Bakken.

State pipeline authority director Justin Kringstad said two are being completed this year, and four others are scheduled next year. The two plants in 2018 are scheduled to come on-line in the September-October time frame," Kringstad said. "They will add 400 million cubic feet (mcf) of gas processing." Kringstad said the total investment in those two facilities is $300 million. "The additional four plants (in 2019) will bring that total to 965 mcf for all six plants," Kringstad said. "The total investment is $1.3 billion." 

Oil #1 in North Dakota, from 24/7 Wall Street:

Due to new horizontal drilling methods used in North Dakota's Bakken shale formation, the region has fueled historic economic growth in the state. In the last five years, North Dakota's oil and gas extraction industry has grown by over 150%. Over the same period, North Dakota's total GDP shot up 24.1%, the strongest economic growth of any state and more than double the GDP growth of 10.5% nationwide.