Rapid City to host oil conference

2012-12-06T05:00:00Z Rapid City to host oil conferenceHeidi Bell Gease Journal staff Rapid City Journal
December 06, 2012 5:00 am  • 

Oil production in the Bakken formation has been going strong for two years now, and experts say businesses in Rapid City and western South Dakota are well-positioned to tap into the biggest economic boom to hit the area in decades.

A one-day conference planned for Tuesday, Dec. 11, in Rapid City is designed to give area residents a realistic view of what is happening in North Dakota and to help identify needs and opportunities in the Williston Basin, according to event organizers.

“Opportunities in the Bakken & West River Expansion” is scheduled to run from 7:30 a.m. to 4:30 p.m. at Hilton Garden Inn. It’s aimed at West River businesspeople, entrepreneurs, service providers, investors and workers.

“When your community doubles in size in a short amount of time, the infrastructure can’t sustain the needs of the public,” said Paul Hegg, president and CEO of Hegg Companies, one of the event sponsors. “Wherever you look, there are needs.”

Former North Dakota Gov. Ed Schafer will be the keynote conference speaker at 8 a.m. He served two terms as governor from 1992 to 2000, served as U.S. Secretary of Agriculture under President George W. Bush, and is now on the board of directors for Continental Resources Inc., an oil exploration/production company doing business in North Dakota.

Other speakers will include experts in oil, gas, real estate, economic development and other businesses, as well as political leaders.

The summit is sponsored by the Hegg Companies of Sioux Falls and by the Law Bulletin Publishing Company of Chicago.

The conference will start with a “Bakken Shale 101” session, followed by sessions on how oil development has impacted North Dakota, economic development opportunities in North Dakota, oil projections in South Dakota, economic development and real estate opportunities in western South Dakota, North Dakota real estate, real estate financing options and the future of the Bakken and Williston Basin and the impact in North and South Dakota.

Hegg said economic opportunities could ebb and flow, but the overall trend is up, and he expects that to continue.

"Those who say the opportunity has been missed in the Bakken are the same folks that said to avoid Apple when the Mac was introduced," he said.

Copyright 2015 Rapid City Journal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

No Comments Posted.

Add Comment
You must Login to comment.

Click here to get an account it's free and quick

Activate subscription button gif

Deals, Offers and Events

Poll

Loading…

Fur-Ever Wild was just approved to keep wolf cubs and fox kits at a wildlife education center in Deadwood. Do you agree with the South Dakota Animal Industry Board's ruling?

View Results

Recent Blog Posts

Static for Blue Jay Wireless

The state Public Utilities Commission provided an unusually cool reception Tuesday to an application by Blue Jay Wireless. The suburban Dallas…

May 27, 2015 8:06 am(0)

Tractor Supply Co. hosting event for pets

Rapid City's Tractor Supply Co. at 3440. E. Mall Drive is hosting a pet event on Saturday, May 30, to encourage adoptions and support local an…

May 26, 2015 1:38 pm(0)

STARFOX

STARFOX

STARFOX = A Nintendo super hero

May 26, 2015 8:28 am(0)

Bosworth trial takes break until Wednesday

Circuit Judge John Brown told the jury on Friday afternoon that the trial of Annette Bosworth will continue on Wednesday at 2 p.m. CT. The pro…

May 26, 2015 8:03 am(2)

Osu Sensei

Osu Sensei

The one thing that is constant in our job is that you meet quite a few people every day. It may be only a handful others it may range into 20 …

May 23, 2015 1:00 pm(0)