January 2013: Business Indicators

The number of active oil drilling rigs in the state continues to decline as older, less efficient rigs are replaced. However, despite the declining rig count, oil production and the number of producing wells continues to climb. The number of wells increased nearly 30 percent in the past twelve months; the volume of oil produced… [More…]

October 2012: Business Indicators

Oil production, an important driver of North Dakota’s economy, continues to climb. Although rig counts have dropped in recent months, production continues to reach new record levels. August production topped 700,000 barrels per day, an increase of nearly 60 percent in the past twelve months. The impact of the oil industry on the labor market… [More…]

Bakken Provides Opportunities and Challenges

With oil production on a steady upswing, opportunities to grow North Dakota’s economy, attract new businesses and expand existing businesses are abundant. However, with these new opportunities come challenges. It is now more important than ever for state and local officials to work together to capitalize on this growth, meet these new challenges, and create… [More…]