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Oil may be booming in North Dakota, but real estate is slow to follow

Billboard ND open for business

While billions of dollars of oil money is flowing freely to North Dakota, investment in new real estate has not followed. With demand far outpacing supply, rents and land prices are sky-high, and residents have few retail options. By Ernest Scheyder and Ilaina Jonas, Reuters / June 30, 2013 Williston, N.D./New York Money and workers are pouring into Williston, the capital ...

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Faces of the Boom: Blessed in the Bakken

The Bakken Boom

SIDNEY, Mont. – Patty Kneeland feels so blessed to be an oilfield wife, she wears a reminder around her neck. Kneeland and her husband, Bruce, moved to the Bakken region of eastern Montana two years ago after they closed a bar and restaurant they operated in the opposite side of the state for 10 years. The seasonal business in the ...

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Federal drug czar touring ND, Montana Oil Patch

Gil Kerlikowske

FARGO — Of all the warning bells sounded by law enforcement officials in North Dakota and Montana about crime associated with the Bakken Oil Patch’s rapid population growth, the one that seems to ring true involves drug trafficking. Michael Cotter, U.S. attorney from Montana, cites an April 2012 meeting he sponsored that was attended by about 150 law enforcement officials, ...

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Bakken Oil, out on a rail

Bakken Rail Cars

Minot Daily News Railroads are moving three-quarters of the crude oil in North Dakota to markets, according to Justin Kringstad, director of the North Dakota Pipeline Authority in Bismarck. “They’re a very active player, to the tune of 75 percent of our oil now moved by rail cars. Only 25 percent is moving by pipeline in current market conditions,” Kringstad ...

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Making it Rain: Water Technology in the Bakken

Fracking Water in the Bakken

Technology innovations have led to an explosion of oil and gas production in the Bakken shale and across the United States. The combination of horizontal drilling and hydraulic fracturing are making previously unattainable petroleum reserves accessible and economical. Yet as one natural resource proliferates, another begins to feel the strain. Oil and gas production, in particular hydraulic fracturing, uses large ...

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Low-cost natural gas boosting ND

Bakken Natural Gas

North Dakota has rapidly become a multi-faceted energy exporter. Crude oil and natural gas have joined electricity produced from coal as major state exports. It’s a narrative that the state has pursued for decades. But fracking and crude oil production have produced a spinoff story. Low-cost natural gas, a byproduct of oil production, has begun to benefit existing North Dakota ...

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Economic Partnership: Missoula poised to benefit from Bakken

Missoula set to profit on the Bakken

Missoula’s economy is poised to take advantage of opportunities in the Bakken, according to the Missoula Economic Partnership. “We’re kind of positioning Missoula as the entry point, surprisingly enough, to the Bakken,” president James Grunke said last week to members of the Missoula City Council. Initiated by Mayor John Engen after the economy crashed, the Missoula Economic Partnership works on ...

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Oil production up sharply in North Dakota

Oil Workers Bakken North Dakota

Bismark Tribune Oil production began to increase at a sharper pace in May, and production is expected to increase further during the summer months, according to North Dakota’s top industry regulator. Preliminary numbers for May put North Dakota oil production at more than 810,000 barrels per day. It was an increase over the nearly 794,000 barrels per day in April. ...

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Bakken Price Weakens After North Dakota Production Hits New High

Bakken Oil Boom

Bakken crude on the spot market weakened against West Texas Intermediate as North Dakota regulators said production from the state’s portion of the field increased to a new high in May. North Dakota’s Bakken field produced 745,399 barrels of crude a day, according to preliminary data from the state’s Industrial Commission. That’s up 2.4 percent from April and 29 percent ...

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