Wondering about Williston.... (Fargo, Bismarck, Minot: apartment, leases, construction loan)

[KyleJRM]

Thanks for the advice, guys. I had been warned about this, but I guess it is something you really have to experience for yourself. Not to hope for others' ill-fortune, but if and when this boom goes bust I'll probably still be around and it'll all balance out.

How far do you have to go before the housing gets more accessible? I don't like the idea of winter commuting, but I may have no choice.

[ComputerUser000]

Originally Posted by cats58554

I need an apt in Mandan North Dakota that will accept pets and am having a hard time finding anything. If anyone out there knows of a decent place with a decent rent let me know. The last place got condemmed so this is why I had to move. But my pets need a home with me.
Deb

Mandan? You're a bit far awyam, you'd be better off starting a new thread.

[KyleJRM]

As an update, my boss pulled some strings and found me a nice one-bedroom for only slightly more than I would have expected to pay in Illinois. Miracle!

I'm in love with the area so far, beautiful and the people are astonishingly friendly.

[Roloff1976]

Welcome to Williston...Welcome to North Dakota!

[MikeyToo]

I was just curious. Does anyone know what the per/barrel price needs to be in order to break even, in the oil fields of western NoDak?
Thanks!

[GraniteStater]

The current price per barrel of oil is around the $86 dollar range. I would assume the oil boom areas would be slowing down some with the current drastic fall in prices.

[KyleJRM]

Originally Posted by MikeyToo

I was just curious. Does anyone know what the per/barrel price needs to be in order to break even, in the oil fields of western NoDak?
Thanks!

I've asked that question in a lot of places. The answer I've got ranged from 50-80. At $86 (and $82 in overnight trading last I checked), people have to be getting nervous.

To be honest, it feels to me that the housing market is softening just a smidge with the combination of that and the winter.

[Roloff1976]

I was visiting with a relative up in Williston who works in the oil industry. He said depending on the play...the Bakken needs to be above $65 to be profitable, but other formations can be as low as $45 per barrel. It doesn't sound like things will slow down anytime soon though, because they know the oil is there, and most of their projects were budgeted and planned far enough in advance to be affected by the current prices. But who knows down the road a couple years from now. But doubt oil is going to go too much lower.

[MikeyToo]

Thanks for all the inputs...."

[GraniteStater]

Oil is down 10% to around $80 a barrel so far today.