Idle Rambling -- March 10, 2019

Earlier today -- actually, I guess yesterday -- a reader sent me a number of links which I've posted. The reader lives out-of-state -- well east of North Dakota. To the best of my knowledge he has no "personal"/"emotional" connection with the Bakken.

Along with the links he sent a number of nice notes. In one note, commenting on the article about the Bakken maturing, he wrote:

... the Bakken seems to be maturing, because the number of articles is way down. My perception is not as much new business activity (investment) is taking place.... very few press releases -- my recollection, several years back, all kinds of press releases regarding business activity.

... transactions appear to be buyers adding or sellers exiting the area. This is probably good for local government: building and maintaining infrastructure is not easy with large boom and bust cycles ...

I replied (not ready for prime time):

1. You are so correct: much less being written about the Bakken these days.
2. The differences in the Bakken are now more nuanced. The established businesses are probably doing more business than they have ever done. The CPAs, tax advisors/preparers, investing firms are drowning in work. A lot of folks may move to Phoenix, but the CPAs, tax advisors, there, don't know oil taxes like the tax preparers do in Williston.
3. Local insurance companies are going to be as busy as ever with much better risks: they are now writing more homes (less risk) and less new oil business(very high risk).
 4. There is now another housing shortage in Williston and the "boom" has been going on for twelve years.
5.For the reasons you mention, it's often difficult for me to keep interested in writing the blog, but if I miss even one day, I get way behind.

Having said that, the number of posts on the blog are staying fairly steady.