The North Dakota shale boom is an exciting spectacle to behold. I traveled there last spring and was amazed by the new opportunities and tremendous amount of activity. As I drove into Williston, I was amazed to see so much growth. So many new construction projects, service companies, oil & gas operations, and services to accommodate the oil field workers that have sprung up in response to the Bakken Shale play.
Out of habit, I check crude oil futures prices for West Texas Intermediate (WTI: $97.84 per BBL for December delivery) and Natural Gas ($4.19 a MCF for December delivery) first thing every morning. Oil and gas operators can make a decent profit as long as prices remain stable and above $90.00 per BBL for crude oil and $4.00 for natural gas. The recent cold snap has really helped natural gas prices.
As a result of these higher commodity prices, environmental engineering/consulting firms, professional engineers, etc. can benefit from the frenzy of drilling activity, infrastructure construction, and oil and gas service company expansion. Shale plays, which are often in our backyards, continue to be the driving force behind this growth. The Bakken Shale play is a prime example. Oil & gas production has exploded in North Dakota and Wyoming in the last five or six years creating a great opportunity for environmental firms to provide Phase I and II services, due diligence for M&A (merger and acquisitions), baseline studies, and consulting. Ninety-nine percent (99%) of oil & gas operators want to do the right thing environmentally – don’t be afraid to ask for their business. There is a lot of business out there!
This past week, Banks Environmental Data added North Dakota to our growing list of comprehensive ASTM database coverage. In addition to the environmental database report, you can also turn to us for a complete Phase I environmental site assessment (ESA) data package in the state of North Dakota.
Our North Dakota Phase I ESA products:
- ASTM database report
- Chain of title + lien search
- City directory search
- Environmental lien search
- Fire insurance map research
- Historical aerial photos
- Historical topographic maps
We have a great team and the cutting-edge technology to deliver superior Phase I products. Let us know how we can help you in North Dakota and other shale plays around the country.
The Banks Group