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Bismarck Tribune: Bakken is a valuable, long-term play for the stateApril 16, 2015
Low oil prices continue to make headlines as more rigs are stacked and deactivated in the Bakken. How long they remain out of service is difficult to predict. Even after the price for crude recovers, which history has taught us it will; it will take time to put drilling rigs back into service when conditions improve.
Communities situated in oil country are beginning to calculate potential revenue shortfalls, if price challenges persist. While being granted a reprieve in terms of catching up on infrastructure needs, they’re nonetheless concerned that revenue projections could fall short.
State officials have taken notice too; low oil prices continue to weigh on lawmakers this legislative session. Depressed pricing also influences operators and the investment community, equally concerned.
Soft crude oil prices, or low price levels for commodities in general, is something North Dakotans are very familiar with. With a number of state industries, including agriculture, directly impacted either positively or negatively by commodity prices, citizens understand the effect pricing can have. To continue reading, click here.