Sidney, MT is going thru a new oil boom. The city has a vitality and newness about it. It is amazing what $55/barrel oil can do.
In the early 1980s, at the peak of the last boom, “Seven rigs/day was considered a lot,” according to Leslie Messer of the county economic development agency. “Today we’ve got 19 rigs going. We’ve got one company that has 400 well staked out in the county, ready to drill.”
These new drilling rigs are drilling down 9,000 to 10,000 feet and then drilling out horizontally in four directions up to 2 1/2 miles away. Taxable sales in North Dakota’s oil extraction sector were up 252% in 2004 compared to 2003. Amazing technology and high oil prices will result in more oil production and ultimately lower prices.
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