Bakken Oil Conference draws interested investors, Monday - KSFY News - Sioux Falls, SD News, Weather, Sports

Bakken Oil Conference draws interested investors, Monday

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It is an oil boom happening north of our border and many call it one of the biggest explosions of economic development in our lifetime.

The NW part of North Dakota is where you'll find the Bakken oil fields near small towns like Williston and Dickinson.

Bakken is the oil formation that has led to ND's oil boom.

Monday, leaders met in Sioux Falls to brainstorm ways to invest and develop the surrounding communities.

With towns nearly doubling in size, the Bakken oil boom in ND has introduced endless new opportunities to invest, buy and sell.

The Hegg Companies-sponsored event was held at the Hilton Garden Inn, Monday, and brought upwards of 200 people from Sioux Falls and surrounding areas.

Communities there need basic things like skilled street workers, electricians, hair salons, doctors, lawyers to bring the basic services to the towns seeing the growth.

"North Dakota has been hit with this boom town and they don't have enough people, resources, equipment and services. This is much bigger, it's happening for America, we're here looking for new folks to partner with us," Breitling Oil and Gas CEO Chris Faulkner said.

Towns have more than doubled in size from 2,000 to more than 10 or 15,000. Experts say there's as much as 20 million barrels of oil in North Dakota which equals about 30 more years of work.

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