This guest post was submitted by Charley Johnson, president and CEO of the FM Convention and Visitors Bureau.
For our state, rapid growth might be over, but its strength remains in agriculture, energy, unmanned systems and much more, and at the core of each industry’s success is its implementation of leading edge technology.
Next week, Fargo will showcase the advancements of North Dakota’s oil and gas industry by hosting the North Dakota Petroleum Council’s annual meeting in Fargo.
Much like North Dakota’s contribution to technology in agriculture, North Dakota has been the leader in the advancement of technology in shale oil. In fact, the revolution of the world oil industry began in the Bakken, the world’s first economical shale oil field. The technological discoveries made here were taken to the Eagle Ford and Permian and made the United States the world’s largest producer of oil and gas.
When the downturn came, the industry doubled-down on technology investments, employing petroleum, mechanical, and even technologies to better understand the Bakken rock and extract more oil from each well. As a result, production from new wells has grown nearly three-fold in only four years, making the Bakken one of the most competitive oil fields in the world.
The annual meeting runs Sept. 24-26 and includes Bakken 2.0 at 3 p.m. Monday, Sept. 24, at the Sanctuary in downtown Fargo. Bakken 2.0 is a special, free opportunity for Fargo-Moorhead area residents to learn about the industry, how it is rapidly deploying new innovations, and what the future of the industry holds for North Dakota. When the Bakken 2.0 organizers claim to have world-renowned speakers, they aren’t kidding. The event includes talks on geology from Bakken-expert Kathy Neset, industry economics from Petroleum Council president Ron Ness, technology from energy researcher John Harju, and forecasts for the future of North Dakota oil and gas from Continental Resources president Jack Stark.
I have the fortunate opportunity to moderate Bakken 2.0 and encourage everyone to attend and learn from some of the industry’s best minds.