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“For Companies that Want Something Really Stable We’re the Place.”

Our very own Trent Mindeman was written up in conjunction with Bakken Residence Suites.

Trent moved his entire out west to his native North Dakota from Virginia. Having a family do the management has helped set the tone for the culture at Bakken Residence Suites.

“You can’t really find another place that compares to this – at least not in this area,” Mindeman said. “For companies that want something really stable, we’re the place. When we did our market research, we found that a huge obstacle in getting people out here to work was housing. Our goal was to make our residences as nice as possible so there would be absolutely no stress coming from the housing factor.” Read the whole article

With so many options out there it’s nice to know that the value of a home away from home is available.

Median Wages vs. Housing Costs in the United States

Nearly everyone is feeling the pinch of shrinking wages and higher costs these days. Many are losing home-owner status and becoming renters once again.

People are having to move to locate jobs that will give them a better start. Some are even forging ahead into new frontiers where the wages are high (WalMart starting wages are at $17.00 an hour) and company living quarters are provided.

Take a look at these examples of median wages from across the country as compared to the average cost of a one bedroom apartment rental.

How much oil is left in the world?

Energy is the talk of the globe more so now than ever before. Wars are fought and governments toppled over the power and wealth that comes with the ability to supply the food for power-hungry devices all over the earth and beyond.

Oil has been one of the preeminent resources for that energy for over 100 years. The question is, can the supply hold out and, if not, how much longer do we have?

Oil Prices on the Rise

Oil prices have gained 8% in the last month and Goldman Sachs is predicting that prices will continue to rise.

Factors such as European sanctions on Iranian imports, political instability in key oil producing countries and an increased demand for oil in China and the US mean we will likely continue to see the prices rise.

pump jack

This is good news for the Bakken. Decreasing availability of other sources will push Bakken Oil into greater demand.
That’s fine by the Bakken.

Production has been churning out 700,000 barrels per day. Some have suggested it could reach 1 million barrels per day. Only six other fields have seen such an output: Burgan (Kuwait), Cantarell (Mexico), Daqing (China), Samotlr (Russia), and Kirkuk (Iraq).

Analysts say that with China’s growing middle class and increasing energy demands as well as the growing demands of the US and other nations the need for oil will only grow. Production in the Bakken does not show signs of slowing anytime soon either.

This is very good news.

Image Source: Richard Masoner

Minot’s Future

The management team at Bakken Residence Suites is proud to announce a new Hyatt House Extended Stay Facility to meet the increased demand in Minot.

Featuring 130 spacious suites and the luxury you expect from the Hyatt brand. Opening in Spring of 2013 we are excited to grow with North Dakota!

 

KMOT examines the plans for Minot’s future. Read more here.