Increasing Investment

Hess Corp. is ramping up capital spending in North Dakota for 2017, appropriating $700 million and increasing its rig fleet from two to six by the end of the year. Total capital spending by the company is also up to $2.25 billion, $350 million higher than last year.

The Bakken Begins Hiring

According to a North Dakota newspaper, The Grand Forks Herald, oil companies are hiring in the Bakken, and more jobs are expected to open up next year.

Crude Prices Projected to Increase

US crude oil production is expected to increase slightly this year to 9 million BOPD – up from 8.9 million BOPD in 2016 – and up to 9.3 million BOPD in 2018, according to the Energy Information administration.

SEIU Texas Files for Bankruptcy

SEIU Texas filed for bankruptcy over the weekend following a $7.8 million judgement in a lawsuit brought by a janitorial service company the union sought to destroy.

Quick Rebound for Bakken

When it comes to determining what has happened to employment in the Bakken, given the drop in oil prices and oversupply in the market, “the big news is not that these local economies started to decline, but that they have not declined more,” reports Paul E. Polzin, director emeritus, at the Bureau of Business and Economic Research at the University of Montana.

More Wells in Bakken

More than a dozen new rigs will be added in North Dakota in the next 12 months but there are still 861 wells waiting on completion, according to Lynn Helms, director of the ND Dept. of Mineral Resources. There are 38 rigs drilling now.

Montana Movin’

About as many people move into Montana as move out according to data from Atlas Van Lines. This year’s data classified Montana as a balanced state in 2016. Montana has registered as balanced since 2014. In 2016, Montana had 238 inbound moves and 204 outbound.

Forbes Ranks Montana 23rd

Two of Montana’s neighbors are on the Forbes top ten Best States for Business list – North Dakota and South Dakota. Montana is ranked 23rd. Wyoming is ranked 35th and Idaho, 18th.

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