The oil derricks and drilling rigs that dotted the horizon of western North Dakota during earlier oil booms are back. Pumps are drawing oil from remote underground rock formations, bringing wealth to those with vested interest – landowners, oil rig operators and those employed in the recovery process. The impact upon the economy stretches into a variety of business applications, such as construction, mobile telephones, and vehicles.

The Bakken formation has people speculating, once again. And it’s not just people in the oil business. Every where people are scratching their heads and wondering how it will impact their business.

Local economic business development offices are in high gear.

Since the oil patch stretches upward to Ward County, Minot businesses feel it. Hotels there swell with guests, some longterm. Workers and their families need housing.

Minot Guaranty & Escrow representatives never imagined they would be this busy. Originally founded in 1955, the North Dakota Guaranty & Title Company now has four offices offering title services throughout North Dakota. It opened the Minot location in December 2007, and now also serves Ward County and northwestern North Dakota.

“At Minot Guaranty & Escrow, we search for anything in Ward County,” North Dakota Guaranty & Title Company vice president Paula Bachmeier said. “We search for abstract updates and home equity transactions, as well as title insurance and closings – but are finding that we are far too busy to handle oil searches or searching for mineral rights. Right now, we’re actually turning away oil work.”

In the industry for 35 years, Bachmeier said she’s never seen this sort of turmoil. — a positive, profitable flurry of activity. Never before has she seen this many sales in real estate; houses sell quickly, leaving no inventory.

“At Minot Guaranty & Escrow, our fi rst year of business exceeded our expectations,” Bachmeier said. “With a greater profit margin, we were able to employ people at good wages, with good benefits. This was good not only for the company, but for the employees as well. We intended to staff four or five, and already have fourteen working with us.”

And as the oil business steadily moves closer, other local companies feel its infl uence. Executive Air Taxi Corporation, of Bismarck, sees an increase in air traffic. Under the ownership of John G. Miller, Paul Vetter, and Kelly Cermak, Executive Air Taxi is a full-service fixed-base-operation. This local aviation service provides aircraft maintenance, instruction, rental, and charter in addition to parts sales and 24-hour refueling service.

Executive Air sees a certain amount of attention as a result of the oil patch, as well. And though the bulk of the oil business is farther west, the spinoff of additional sales and service near the Bismarck Mandan area is felt.

“Executive Air recently worked on two helicopters from Oklahoma,” Executive Air co-owner Kelly Cermak said. “They were doing seismographic work in the basin. Since they were a bit of a surprise, they got our attention.”

Additionally, Cermak said they fuel jet-type mini-aircraft constantly, and that likely this infl ux in work is, at least partially, related to the oil industry or exploration.

Executive Air now operates a helicopter EMS out of Minot. June of 2008 was a record breaking month as critically ill patients were lifted from towns such as Williston and Stanley and ferried to Trinity Hospital in Dickinson. This type of emergency service will prove to be a valuable resource to the small communities.

“A myriad of services are required,” Bismarck Mandan Development Association’s president and CEO Russ Staiger said. “Perhaps the magnitude of business need is not measurable, yet.”

Staiger has his finger on the pulse of the oil happenings. Sitting in on various committee meetings, he’s learned about the process, the movement, and the production. He knows shale rock is tough as concrete, and wonders at the way oil can be extracted from it. Yet, every well drilled produces. Staiger said production can vary anywhere from 600 barrels a day to 3500 a day, dependent upon the skills of the drillers.

As oil companies expand toward the east, nearer and nearer to Bismarck Mandan, productivity is sure to increase. Currently, 88 rigs are operating, with 100 expected by the end of 2008.

Staiger said BMDA is working to determine the full impact of the oil patch. They hope to discover how to cope with the process – the upside, the top side, and the inevitable downside. Eventually the oil production will taper off, and without planning ahead, rural towns have a potential to lose financial support.