The Bakken Oil Boom

The Bakken oil boom dwarfs previous oil production expansions in Montana and North Dakota. Explore a range of economic, demographic and financial data for the Bakken, and learn about factors driving jobs and other forms of development in the oil patch of North Dakota and Montana.

Location of oil patch in the Ninth District

Oil production

Summary

The Bakken oil boom is more than five times larger than the oil boom in the 1980s.



Active oil drilling rigs and oil price - Monthly average

Data Dashboard

Oil Drilling Rigs

Aug
2014
Pct. change from a year earlier
North Dakota 182 7%
Montana 8 -18%

Summary

Oil drilling in Montana and North Dakota picked up beginning in 2004 until prices dropped below $60 per barrel in 2008, considered the break-even price for shale drilling and oil production at the time. Drilling accelerated again once oil prices recovered. Drilling activity decreased somewhat in North Dakota during 2012 as oil companies sought to cut costs and increase efficiency.



Oil production

Data Dashboard

Production (millions of barrels)

Jun
2014
Pct. change from a year earlier
Bakken Oil Counties 32.5 33%
Rest of Montana 0.7 -3%
Rest of North Dakota 1.9 0%

Summary

The Bakken area represents most of oil production in Montana and North Dakota.

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County Unemployment Rate

Slideshow of maps showing the historical county unemployment rate in the Bakken area

Oil map thumbnail

12-month moving average

<3%
3 to 4%
4 to 5%
5 to 6%
6 to 7%
>7%

January 2014 (Last Map)
Oil basin unemployment rate map

October 2013
Oil basin unemployment rate map

July 2013
Oil basin unemployment rate map

April 2013
Oil basin unemployment rate map

January 2013
Oil basin unemployment rate map

October 2012
Oil basin unemployment rate map

July 2012
Oil basin unemployment rate map

April 2012
Oil basin unemployment rate map

January 2012
Oil basin unemployment rate map

October 2011
Oil basin unemployment rate map

July 2011
Oil basin unemployment rate map

April 2011
Oil basin unemployment rate map

January 2011
Oil basin unemployment rate map

October 2010
Oil basin unemployment rate map

July 2010
Oil basin unemployment rate map

April 2010
Oil basin unemployment rate map

January 2010
Oil basin unemployment rate map

October 2009
Oil basin unemployment rate map

July 2009
Oil basin unemployment rate map

April 2009
Oil basin unemployment rate map

January 2009
Oil basin unemployment rate map

October 2008
Oil basin unemployment rate map

July 2008
Oil basin unemployment rate map

April 2008
Oil basin unemployment rate map

January 2008
Oil basin unemployment rate map

October 2007
Oil basin unemployment rate map

July 2007
Oil basin unemployment rate map

April 2007
Oil basin unemployment rate map

January 2007
Oil basin unemployment rate map

October 2006
Oil basin unemployment rate map

July 2006
Oil basin unemployment rate map

April 2006
Oil basin unemployment rate map

January 2006
Oil basin unemployment rate map

October 2005
Oil basin unemployment rate map

July 2005
Oil basin unemployment rate map

April 2005
Oil basin unemployment rate map

January 2005
Oil basin unemployment rate map

October 2004
Oil basin unemployment rate map

July 2004
Oil basin unemployment rate map

April 2004
Oil basin unemployment rate map

January 2004
Oil basin unemployment rate map

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County Employment Change

Slideshow of maps showing the county employment rate change in the Bakken area

Oil map thumbnail

12-month moving average

<-4%
-4% to -2%
-2% to 0%
0% to 2%
2% to 4%
>4%

Third Quarter 2013 (Last Map)
Oil basin employment change map

Second Quarter 2013
Oil basin employment change map

First Quarter 2013
Oil basin employment change map

Fourth Quarter 2012
Oil basin employment change map

Third Quarter 2012
Oil basin employment change map

Second Quarter 2012
Oil basin employment change map

First Quarter 2012
Oil basin employment change map

Fourth Quarter 2011
Oil basin employment change map

Third Quarter 2011
Oil basin employment change map

Second Quarter 2011
Oil basin employment change map

First Quarter 2011
Oil basin employment change map

Fourth Quarter 2010
Oil basin employment change map

Third Quarter 2010
Oil basin employment change map

Second Quarter 2010
Oil basin employment change map

First Quarter 2010
Oil basin employment change map

Fourth Quarter 2009
Oil basin employment change map

Third Quarter 2009
Oil basin employment change map

Second Quarter 2009
Oil basin employment change map

First Quarter 2009
Oil basin employment change map

Fourth Quarter 2008
Oil basin employment change map

Third Quarter 2008
Oil basin employment change map

Second Quarter 2008
Oil basin employment change map

First Quarter 2008
Oil basin employment change map

Fourth Quarter 2007
Oil basin employment change map

Third Quarter 2007
Oil basin employment change map

Second Quarter 2007
Oil basin employment change map

First Quarter 2007
Oil basin employment change map

Fourth Quarter 2006
Oil basin employment change map

Third Quarter 2006
Oil basin employment change map

Second Quarter 2006
Oil basin employment change map

First Quarter 2006
Oil basin employment change map

Fourth Quarter 2005
Oil basin employment change map

Third Quarter 2005
Oil basin employment change map

Second Quarter 2005
Oil basin employment change map

First Quarter 2005
Oil basin employment change map

Fourth Quarter 2004
Oil basin employment change map

Third Quarter 2004
Oil basin employment change map

Second Quarter 2004
Oil basin employment change map

First Quarter 2004
Oil basin employment change map

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The Bakken area

Detailed map of the oil patch in the Ninth District

Oil map thumbnail

Definition for oil production: North Dakota production is from Bakken, Sanish, Three Forks and Bakken/Three Forks Pools as reported by the North Dakota Department of Mineral Resources. Montana production is total production from Richland, Roosevelt and Sheridan counties.

Definition for economic indicators: North Dakota counties: Billings, Burke, Divide, Dunn, Golden Valley, McKenzie, Mountrail, Stark, and Williams. Montana counties: Richland, Roosevelt, and Sheridan.

Oil map

Recent Trends in the Bakken [pdf]
Full Report [pdf]
Data on demographic, economic and financial activity in the Bakken as of December 20, 2012

More about oil in the Ninth District

Homeland of opportunity
fedgazette, October 6, 2014

Global factors influence Bakken oil boom
fedgazette Roundup, September 16, 2014

Bakken energy production continues to boom, but growth is easing
fedgazette, June 13, 2014

Banking activity and performance in the Bakken in 2013
fedgazette, May 8, 2014

Census says: Bakken growth floating a lot of boats
fedgazette Roundup, March 7, 2014

Bakken stands out in comparison with other shale drilling areas
fedgazette, January 15, 2014

Comparing relative banking performance in the Bakken with banking in other shale energy areas
fedgazette, August 19, 2013

Oil production and economic activity strong, but easing somewhat
fedgazette, August 6, 2013

Congratulations on your oil boom...now the real work begins
fedgazette, July 22, 2013

Oil tax spending: "Pots for this and pots for that"
fedgazette, July 22, 2013

Fine-tuning the oil tax machine
fedgazette, July 22, 2013

Dickinson: Watching and learning
fedgazette, July 22, 2013

Bakken activity: How wide is the ripple effect?
fedgazette, May 7, 2013

Working on the railroad - and the pipeline
fedgazette, April 23, 2013

Dealing with gas
fedgazette, April 23, 2013

Booming sales in North Dakota
fedgazette, February 8, 2013

Frac sand mining spurs rural rail
fedgazette Roundup, July 19, 2012

Sand surge
fedgazette, July 16, 2012

Desperately seeking workers in the oil patch
fedgazette, April 18, 2012

No room at the inn
fedgazette, April 18, 2012

Faces and places from the oil patch
fedgazette, April 18, 2012

After the oil rush
fedgazette, September 1, 2009

Location of the Bakken in the Ninth District

Location of oil patch in the Ninth District

Large Image


The fiscal oil boom

Video: fedgazette Editor Ron Wirtz talks about the fiscal oil boom


Jobs in the oil patch

Video: fedgazette Senior Writer Phil Davies talks about jobs in the oil patch

 
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