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View of downtown Williston, North Dakota. (Image: Mike Galt via Flickr)

ND Insights releases May 2016 Monthly Market Report

Williston, ND – The Monthly Market Report – May 2016 published by ND Insights is now available. The latest monthly report includes monthly economic indicators that were released in May 2016 along with additional analysis for the 2015 Taxable Sales and Purchases information that was released April 21, 2016.

Updated Data Sets

In addition to the standard monthly data updates, the following data sets were updated with the May Report:

– Taxable Sales and Purchases: Annual 2015, 4th Quarter 2015

Market Observations:

The May 2016 Monthly Market Report contains the following market observations, data and charts:

– Annual Taxable Sales & Purchases – 2015 Ushers in Reversal of Fortunes

– Widespread Decline in Taxable Activity among Geographies

– Oil Impacted Areas Drop Nearly 30% – 40% While Others in the Lower Single Digits

– Declines across Most Industries, Few Increases with Relatively Small Volumes

– Decade Marked by Bakken Boom Should Leave Expanded Economic Base in Oil County

– Oil & Gas Activity Hits Lows Equaling 2005 While Production Declines Less Than Expected

– Rig Count Drops to 2005 Levels amid Prices Not Seen Since 2003

– Completions Curtailed to 2010 Levels

– Despite 84% Decrease in Rigs and 75% Decrease in Completions, Production Only Drops 9.8% from Peak in 2014 Non-Producing Wells the Wildcard in Production Pattern

– Growing Pent-Up Production Potential Looming

Details and Availability:

The ND Insights Monthly Market Report is a standardized set of charts and data comprised of more than 15 indicators and over 35 charts in a rolling ten year view providing historical and trending perspectives. The report is available for individual purchase or as part of an annual subscription and each is available with or without the historical data downloadable in MS Excel format. More information and purchasing are available online at: https://www.ndinsights.com/ProductsServices/Monthly-Market-Reports

About ND Insights

ND Insights is a single source for actionable market information and analysis empowering informed and enlightened decisions. The ND Insights platform combines robust data collection from numerous sources stored in a flexible and scalable system along with analysis and contextual and historical perspective to provide true insights.

ND Insights gathers and analyzes numerous economic indicators including GDP, taxable sales activity, state tax distributions, employment and wages, and a plethora of oil and gas activity and data points. Services provided by the organization include Monthly Market Reports, Special Focus Reports, and Customized Reports and Consulting.

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