Watford City Real Estate Group

Watford City Real Estate Group

Watford City Real Estate Group

Hess, Targa to build $150M Gas Plant

The city that re-invests in itself for a brighter future. Watford City is North Dakota’s finest development opportunity.

Hess Midstream Partners LP announced today the formation of a 50/50 joint venture with Targa Resources Corp. to construct a new 200 million standard cubic feet per day gas processing plant called Little Missouri Four (LM4). The new gas plant will be located at Targa’s existing Little Missouri facility, south of the Missouri River in McKenzie County, North Dakota. Read More »

Watford City Real Estate Group

STUDY: Watford City student numbers expected to top 3,000
January 12, 2016
Neal A. Shipman | Farmer Editor
With oil prices falling from their record high of over $100 a barrel to today’s prices in the lower $30 per barrel range, some would say that the “sky is falling” in McKenzie County and Watford City.
But according to a new enrollment study for the McKenzie County Public School District No. 1, the sky is hardly falling. And in fact, school administrators need to be planning for an annual 10 percent growth in student numbers for at least the next 10 years.
“Based on all of the demographic data that we have been able to obtain over the last several years, we see considerable enrollment growth for the district,” stated Rob Schwarz of RSP & Associates. “We are projecting that the district’s enrollment will grow by 10 percent a year for several years to come.” Click here to read the rest of the article.

Watford City Real Estate Group

Watford City population six times higher than pre-boom
October 15, 2015
Zach Koppang | Energy Media Group
Watford City was once a sleepy town with a humble population of about 1,500 people. That was before the oil boom, though, which has sent the population rocketing upwards six times over, with continued growth predicted.
McKenzie County Job Development Authority Director Gene Veeder said, “We’re coming on more stable times, and our trend in growth is still upward. Our numbers are still real strong here. People are waiting to see those numbers change, and they haven’t,” reports The McKenzie County Farmer.
Prior to the boom, Watford City sat atop 882 acres of land. In the years since 2010, the city has annexed and expanded its territory to cover about 5,459 acres. Additionally, over 20 developments have finished the planning and zoning process, accounting for more than 2,800 acres. Click here to read the rest of the article.

Watford City Real Estate Group

Hess Corp. eyeing Watford City for potential field office
October 6, 2015
WATFORD CITY, N.D. — Hess Corp. is eyeing Watford City to possibly open a field office should oil prices recover.
Hess spokeswoman Maria Effertz-Hanson tells The Williston Herald the company has already looked at office space in Watford City.
The oil company moved its headquarters from Williston to Minot in 2009. However, Watford City Mayor Brent Sanford says the city is hoping to entice Hess to open an office in the area where half of its wells are located. Click here to read the rest of the article.

Watford City Real Estate Group

Good Production, Prices Concentrate in Four North Dakota Counties
August 20, 2015
The continued strong production and favorable breakeven prices for North Dakota’s Bakken Shale play are concentrated in four counties where the vast majority of the state’s greatly reduced number of drilling rigs are still operating, the latest county-by-county statistics show.

Out of 14 counties in which oil/gas production is ongoing, the vast majority of the production comes from Dunn, McKenzie, Mountrail and Williams counties, all of which are enjoying the lowest breakeven prices available in today’s globally depressed commodity prices, the state Department of Mineral Resources (DMR) reported earlier this week.

McKenzie County has more than one-third of the rigs still operating in the Bakken (26) and a breakeven price of $27/bbl, compared to a $29/bbl breakeven price and 58 active rigs in January. “The breakevens are so low in McKenzie because a typical well has an initial production rate [IP] of more than 3,000 b/d, and they are also high gas producers,” said DMR Director Lynn Helms.

The combination of high IP rates and “a very robust” gas revenue stream keeps the economics in McKenzie favorable for continued production, he said. “That drives some of those breakeven costs way down.” Click here to read the rest of the article.
Watford City Real Estate Group

Saudi Arabia may go broke before the US Oil Industry Buckles
August 11, 2015
It is too late for OPEC to stop the shale revolution. The cartel faces the prospect of surging US output whenever oil prices rise.

If the oil futures market is correct, Saudi Arabia will start running into trouble within two years. It will be in existential crisis by the end of the decade. The contract price of US crude oil for delivery in December 2020 is currently $62.05, implying a drastic change in the economic landscape for the Middle East and the petro-rentier states. The Saudis took a huge gamble last November when they stopped supporting prices and opted instead to flood the market and drive out rivals, boosting their own output to 10.6m barrels a day (b/d) into the teeth of the downturn.

Bank of America says OPEC is now “effectively dissolved”. The cartel might as well shut down its offices in Vienna to save money. Click here to read the rest of the article.
Watford City Real Estate Group

Watford City Real Estate Group
Building boom continues in Watford
July 7, 2015
While many communities in North Dakota’s oil patch are seeing a slowdown as a result of lower oil prices and fewer drilling rigs, that doesn’t seem to be happening in Watford City. In fact, because McKenzie County and Watford City are the epicenter of the state’s oil activity, city and county leaders predict that 2015 will see a continuation of the rapid building of housing and commercial space that was seen in 2014.

During the first six months of 2015, 167 building permits totaling $76.9 million have been issued by the City of Watford City. That compares to 184 permits totaling $52.4 million during the first six months of 2014.

“Most people know this area remains a very strong economic center,” said Gene Veeder, executive director for the McKenzie County Job Development Authority. “Things seem to be business as usual with the projects I am dealing with – some are in planning and financial stages, but are being met with general enthusiasm. Things remain positive and city and county planning staff are as busy as usual. I expect a very busy 2015. We will know a lot more by fall, but there are some nice projects coming.” Click here to read the rest of the article.
Fox Hills Village, Village on the Green Townhomes
Watford City Real Estate Group

Watford’s Taxable Sales Continue Solid Growth
July 7, 2015
While the level of drilling activity in North Dakota’s oil patch has fallen nearly 40 percent in the past year, that slowdown hasn’t appeared to have had as much of an economic impact in Watford City and McKenzie County as has been felt elsewhere in the region.

During the first quarter of 2015, taxable sales and purchases in Watford City and McKenzie County increased by nearly 11 percent, while the majority of cities and counties in the state’s oil patch saw their sales drop. Williston and Dickinson saw their sales drop by 10 percent during the first three months of 2015 when compared to last year’s numbers, while the cities of Stanley and Tioga saw sales declines of 13 and 25 percent, respectively. Click here to read the rest of the article.
Watford City Real Estate Group

Watford’s taxable sales top $283 million in 2014
May 19, 2015
Even though North Dakota oil prices began a downward spiral in the second half of 2014, Watford City’s and McKenzie County’s taxable sales continued to grow at more than a 30 percent pace according to the North Dakota Tax Department. For the calendar year of 2014, Watford City’s taxable sales and purchases grew 41.81 percent increasing from $199,626,637 in 2013 to $283,086,696 in 2014. During the same period, McKenzie County’s taxable sales increased from $245,805,412 to $342,746,082, a 39.44 percent increase. Click here to read the rest of the article.
Watford City Real Estate Group

Then and Now: Bakken Economy By The Numbers
April 08, 2015
“The numbers that we pulled together from 2013 are tremendously large, more so than what we’ve found with any study we’ve done to this point,” Bangsund noted during his talk.

For example, the $43 billion economic impact of the oil and gas industry is a 750 percent increase in the industry’s size since 2005, the first year the study was conducted. This represents a 303 percent increase in total jobs supported by the industry and a 991 percent increase in direct jobs. Click here to read the rest of the article.
Watford City Real Estate Group

Some Anxiety, But No Slowdown For North Dakota Oil Boom Town
March 20, 2015
Low oil prices are causing a drop in new drilling and exploration in North Dakota, but not as much as you might expect.

Take the boom town of Watford City, over in the northwestern corner of the state and in the heart of the Bakken oil patch. Its population has tripled since 2010, and today, continues to climb. When I visited a year ago for our series on the Great Plains Oil Rush, the price of oil was above $100 a barrel. When I went back recently — with the headlines warning of a crash coming fresh in my mind — it was below $50; a 50 percent decrease in a year. I figured I’d come upon empty hotels, the skeletons of half-built condos and people out of work …

Yeah, not so much. listen to the program »
Watford City Real Estate Group

Will Oil Price Collapse Hit Bakken Output?
Don’t Count on IT

February 13, 2015
There is some gloom but no doom. As of February 7 the oil rig count in North Dakota stood at 135, down from 172 in September and 192 a year earlier. As for staying power as an oil producer, North Dakota has 11 billion to 14 billion barrels of recoverable oil, according to the state, or 7.4 billion, according to the 2013 U.S. Geological Survey. click here !
Watford City Real Estate Group

Watford City Event Center
Event Center Coming to Fox Hills Subdivision
February 9, 2015
The Event Center is scheduled to begin construction in March of 2015, and will be completed by the fall of 2016, which will be constructed next to the new Watford City High School that is being constructed in the Fox Hills Subdivision east of Watford City. click here!
Watford City Real Estate Group

Watford City Real Estate Group
Eye Of The Storm!
January 22, 2014
Outside the core area things are starting to get pretty quiet! The Bakken core area, which is located in the state’s four highest producing areas of McKenzie, Mountrail, Dunn and Williams counties, is two to three times as productive as much of the Bakken in general. But the main concentration of the Bakken core is in McKenzie County, which is why McKenzie County continues to outpace the other counties in oil and natural gas production. click here!
Watford City Real Estate Group

Price Reduction! Near New Bypass!
November 13, 2014
Take a look at this perfectly located property!
This 5 acre piece has the brand new bypass wrapping around it, making it highly visible, and is also located near a new commercial development called “The Crossings”. To see more of the property please watch our video, click here!
Watford City Real Estate Group

Watford City By-Pass

Watford City Bypass Now Open!
October 30, 2014
Watford City’s bypass is now open, and has much improved our town almost overnight! This addition has given Watford City back it’s small town feel, added safety, and greatly reduced traffic through town. To read more about the new bypass, click here.