Oil companies are also seeing what is known as the halo-effect on wells. Now that there have been a substantial amount of wells put in, companies are starting to reap the rewards of multiple wells in a close spacing. When oil companies come back to an area that was previously drilled and punch a new well the old wells are benefiting from the newly fracked wells. The process is know as the halo-effect. Companies drill a new well, frack it with their new methods that are producing monster wells, wells big enough to make Saudi Arabia turn their heads in fear. The new wells being fracked stimulate the old wells boosting the old wells production numbers.

A factor in North Dakota’s favor is the cost to drill a well in the Bakken has decreased substantially. Helms, who met with several oil company CEO’s in Houston in February, said industry leaders say the Bakken is the No. 1 place they want to invest when the price of West Texas Intermediate oil is at least $60 a barrel. We are literally days away from all this happening. Are you ready to go back to work? Share this with your friends, North Dakota is going to need all the oil and gas workers it can get. Even when the prices were high for a long time, there still wasn’t enough people in North Dakota to handle all the jobs. The North Dakota Job Service reports that there are currently over 15,000 open jobs in the state with more being added everyday.

“I think we need to have in our minds that we’ve used this slow time to catch up on everything because it’s coming back and it’s going to come back with a rush,” Helms said.

The Williston area has been building nonstop to catch up to demand. Hotels have popped up all over the place. Thousands of new homes have been built. There’s still room for more housing and businesses to be built. This could be a great opportunity for somebody that wants to take part in the oil boom but not exactly work in the oilfield. Contractors are needed for every area of development. If you are in construction or run a construction company, you should pack your bags and head to North Dakota.