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The North Dakota Oil Boom

THE NORTH DAKOTA E OIL BOOME 2008 OIL BOOM BEGAN IN NORTH DAKOTA IN LATE 2008 BECAUSE OF SHALE GAS RESERVES AND HORIZONTAL DRILLING/HYDRAULIC FRACTURING NORTH DAKOTA OIL IS BOOMING So are the population and costs of doing business 370 drilling permits were issued by North Dakota in October. A record and a 10-fold increase over five years ago POPULATION OF WILLISTON, NORTH DAKOTA 61% GROWTH 12,590 2008 When The Boom started Unchanged for 20 years Williston 204% GROWTH 2013 20,311 Now 2013 30,296 counting the service population The population of North Dakota is growing three times faster than the national average as people stream in to get jobs in the oil industry. Compared with five years ago, oil production is up 6X. THERE IS A LOT OF WORK AVAILABLE NORTH DAKOTA HAS: 76-046 OBS OFFE ALOSIN DOW Domest BEST JOBS MARKET LOWEST SMALL BUSINESS HIGHEST GDP THE LOWEST FAILURE RATE GROWTH IN THE COUNTRY UNEMPLOYMENT RATE The first new oil refinery in the US in over 20 years or more has just been approved in North Dakota. This eliminates having to transport crude by rail to Oklahoma or other refineries in the south. THE ECONOMY IS GOOD IN N.DAKOTA Good news for workers, high costs for employers The median income in Williston has jumped to $50,000 a year, from just $30,000 when the boom started 66% $30,000 $50,000 It can take up to 90 days to have 30 60 90 invoices paid Long waits on invoices and high labor costs will strain the cash flow on small businesses. They might have work, but no way to pay workers or suppliers until they get paid. BIGOIL Invoice To be paid in 90 days THERE IS A SOLUTION Take on projects without worrying about financing M we will collect the invoice Millennium Group will buy your invoices when it's due + a small % Your Client Your Company M MILLENNIUM FUNDING Capitalize Your Potential Sources * * * * * Image Sources | |

The North Dakota Oil Boom

shared by MillenniumFunding on Feb 14
North Dakota oil is booming, and business has never been better. But costs are rising, and many of those businesses in the oil industry are losing funds. Learn how accounts receivables factoring allow...


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