Delete comment from: Captain Capitalism
I've been invested in the Bakken since '08. Heard a lot of stories. Many of the smaller drillers were using what might be politely termed "marginally attached" guys, 'cuz there was no incentive to do background checks, validate IDs, see if there were outstanding warrants, that sort of stuff.
Correction in rig counts will definitely go on apace until oil prices spike ahead, but I don't think we're seeing a '30s-era bust here, or even an '80s-era one. Almost a good thing for the Bakken, as additional (non-Keystone) pipelines are still being built to serve the are.
Took some profits on my stocks after one of them got bought. Will just hold the rest. One of my tiny ones may go under soon, or not.
Apr 21, 2015, 2:05:45 AM
Posted to The Bakken/Williston, North Dakota's Unemployment Rate