Koeser Reaction to USGS Projections - KXNet.com - Bismarck/Minot/Williston/Dickinson-KXNEWS,ND

Koeser Reaction to USGS Projections

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New estimates that there is twice as much oil waiting to be recovered in the Williston Basin are cause for a bright economic outlook in Williston.

The assessment placed the estimate at 7.4 billion barrels of recoverable oil, with a high end potential of 11.43 billion barrels.

Williston's Mayor Ward Koeser believes the quality of crude combined with the quantity of crude bodes well for western North Dakota.

He says local officials have long-thought there is more oil than initial projections and have been planning accordingly for Williston's future.

(Ward Koeser, Mayor, Williston) "This just really says, instead of being busy for 5 or 10 years, you're probably going to be busy for 20 or 25 years. So it adds stability. I think it's very positive for the United States in the sense that, this show that the U.S. can be energy independent, that's one of our goals here. Obviously, its good for the region, it's good for the state with the money they are making off of it and it's good for the country."

Koeser expects the projections to bring in new investors and add a level of comfort for current investors to invest even more money in the Williston Basin.

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