For decades the Bakken oil field has been a disappointment, but new technologies are producing record amounts of oil and gas for the field. Hundreds of well sites dot the Badlands region of North Dakota and Montana.
Small Towns Like Williston are Experiencing an Increase in Employment
In small town across the area like Williston, Watford City and Belfield, unemployment is just 1.5%. Numerous websites and newspapers have listings for jobs for just about any level of preparation from high-tech engineers to truck drivers and welders.
USA Today recently published an article encouraging the unemployed to “Go to North Dakota.” Of course, as job hunters move into the area, other businesses are profiting from providing services for the increasing population. Not all jobs will be oil-related, but rather oil-stimulated.
Companies like Halliburton, Hess, and others are advertising for employment. The Williston area has been particularly affected, with jobs advertising salaries of $100,000 dollars. Williston has the highest average income in North Dakota, and the boom has spread across the border into Montana. Housing shortages are a problem as the area is flooded by job-seekers while the rest of the country has too many empty homes for sale.
How Much Oil does the Bakken Have?
The amount of oil in the Bakken is still a subject of controversy. The official estimate from the U.S. Department of Energy is 3 to 4.3 billion barrels. A helpful addition, but nowhere near the claims of some, which claim a hyperbolic 500 million barrels — not based on surveys, however. The USGS is currently conducting a new survey.
The recent boom is due to new hydraulic fracturing methods which have increased the production at a higher cost than traditional drilling, but the costs are justified as oil prices increase. The amount of oil being produced in the Bakken has increased dramatically with new technology, but how high the price will go is still impossible to pin down.
The Energy Information Administration gives North Dakota’s total oil production for 2010 as 113 million barrels — fourth among the states. Significant natural gas supplies exist in North Dakota, as well. The amount of information available regarding the Bakken is overwhelming and difficult to put together. One thing is certain — oil and natural gas production are increasing. How much the area will eventually produce will be determined as events unfold. Places like Williston are experiencing a real boom.
Sources:
"Williston Life-Jobs" (Accessed: October 30, 2011)
"Jobs in Williston," (Accessed: October 31, 2011)
Harvey Craft - I am a retired educator with diverse experience. I read anything science, education, and history. I write to share what I learn.
