North Dakota rising

Posted by bakkenexpert

As a followup to our previous post on the growth Bakken related exploration, we see that the North Dakota Petroleum council is trying to market the heck out of the Bakken craze. Below is a T shirt they are touting on their website and they state the demand is overwhelming (Are people really spending $16 + S/H for this). More importantly they outline the growth expected in the region. From their website:

According to a recent study, the petroleum industry in North Dakota needs to hire nearly 12,000 new employees by 2010 to keep pace with the industry’s rapid growth and to replace workers scheduled to retire over the next few years. The industry expects to need an additional 3,300 new workers in 2007 alone to keep up with growth, replacements, and retirements. Industry leaders say this is good news for people looking for a job or a higher paying job in North Dakota. According to Job Service, the average yearly wage in the oil and gas industry in 2005 was $60,330. Jobs in demand include everything from equipment operators and truck drivers, to engineers and geologists. For more information on the need for workers, see the “oil industry jobs” section on this web site.

		Due to the high demand for the “Bakken Rocks” T-Shirts, we have decided to extend the deadline for order forms until June 30, 2008. Click Here to Order
Design on Back of Shirt

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Other notables from the website:

• The state’s only crude oil refinery is at Mandan. It has a daily capacity of about 60,000 barrels.
• Oil was discovered on April 4, 1951 near Tioga in Williams County. That well, the Clarence Iverson #1, produced more than 585,000 barrels of oil over 28 years.
• Prior to the discovery of oil in 1951, 64 wells had been drilled in the state dating back to
  1910. Since 1951, another 14,886 wells have been drilled in North Dakota.
• The average crude oil posted price for North Dakota in 2007 was $64.36 per barrel. That
  represents $6.53 a barrel increase from the 2006 average.
• The drilling rig count, which is a prime barometer for measuring new oil and gas activity, averaged 43 rigs a day in 2007. The peak year for drilling rigs was 1981, with an average monthly rig count of 119. The alltime high was in October of 1981 with 146 rigs operating.

Based on the limited capacity for refining, it looks as if some major refining or pipeline projects will inevitably have to be undertaken in the next few years around the region.

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