A decade of oil and natural gas production in North Dakota has brought a boom and a bust and more than $120 billion to the state.
According to the North Dakota’s Oil and Gas Division, adding up the dollars spent on oil drilling, the cost of the Dakota Access Pipeline, Enbridge mainline expansion, and gas gathering and processing, over the past decade, the industry invested $125 billion dollars in North Dakota.
Though, the division reports, that number does not include money spent on housing and infrastructure.
“[It’s a] pretty stunning number when you think about the investors around the world and the industry willing to spend that kind of money here in this state then it becomes easy to understand what a driving force that was for our economy and our state revenue,” Lynn Helms, Director of NDIC Oil and Gas Division says.
Broken down, the money invested equals $1.8 million per person living in the state from 2007 – 2017.