Last week I wrote about record oilfield pay landing on a flat patch. This week the state gave us the local sequel, and it is a genuinely remarkable number.
North Dakota oil did something in May it has not done in about 40 years. Here is the read for anyone who owns property here:
01
40-Year First
For the first time since 1986, ND crude sold at a premium over the West Texas benchmark, averaging $2.56 more per barrel. It normally sells at a discount because our oil has to travel to market.
02
State Windfall
The average ND barrel hit $100.64 in May, roughly 70% above the state's own budget forecast, banking an estimated $29 million in extra oil tax revenue.
03
Not Durable
The cause was the Iran war and the Strait of Hormuz closure, not new demand. The state's pipeline director called it "certainly an anomaly." The field agrees: despite the high prices, the active rig count actually dropped to 24.
04
Real Win
The $29M funds the roads, schools, and reserve funds that hold up home values over decades. That is the slow, durable kind of good news that actually matters when you own here.
Same story I told last week, just with a state budget attached: the money is real, the growth behind it is not.
After a decade watching these premium and pullback cycles here, my read is simple: buy for what the $29M builds over 10 years, not what the barrel does in a month.
In the full post I break down what that means for every kind of buyer here, not just homeowners, but rental, commercial, industrial, and land buyers too:
Curious what this market means for your next move? Just reply and we will walk you through the real local numbers. No pressure either way.
Erik Peterson Broker/Owner, Proven Realty brokered by eXp (701) 369-3949 [email protected]
You’re Invited! VIP Client Appreciation Night is on August 4th.
Join us for an exclusive night to celebrate and thank Proven's top clients with good vibes and great company!
Proven's VIP Client Appreciation Night at the Williston Water World has finally been rescheduled, and we're opening up the fun to EVERYONE! 🌊🎉
Whether you’ve bought or sold a home with us, worked alongside our team, or just want to bring your family out for an epic summer evening, you’re officially invited to our VIP Client Appreciation Night!
We’ve locked down the entire park for two hours of exclusive, after-hours fun:
📅New Date: Tuesday, August 4th ⏰Time: 7:30 PM – 9:30 PM 📍Location: Williston Water World 🎟️ Cost: FREE (RSVP required)
Prices eased and inventory grew. Homes are moving marginally faster but Dickinson remains the slowest Bakken market.
THE TAKEAWAY
The Bakken is settling into a summer rhythm. Prices held or eased slightly across all three markets while inventory continues to build, especially in Watford City. Days on market are stabilizing which tells us demand is still there but buyers aren't chasing. Across our deals, the message to sellers is the same: this is a market that rewards accurate pricing on day one. Sellers who wait for the right buyer at a stretched number are the ones adding weeks to their timeline.
Looking for the right space to grow your business? Proven Realty offers a variety of industrial shops, warehouses, office buildings, retail spaces, and commercial land across North Dakota.
Whether you're expanding, relocating, investing, or starting something new, our commercial team is here to help you find the right property.
Former Pilot Thomas Facility on 14 Acres Off Highway 2 in Tioga
Two shops totaling 18,900 SF on 14 acres with direct Highway 2 access in Tioga, ND. The main 14,940 SF shop features six overhead doors, a trench drain with sand and oil separator, a 40-foot truck repair well, parts room, and training room. A separate 3,960 SF shop, executive offices, reception area, kitchenette, and a mobile office round out the complex. Workforce housing is also on site. Built in 2010 with a fire sprinkler system, rural water, and septic in place.
Completely Remodeled Home with Workshop & Storage in Fairview, MT
This fully remodeled home in Fairview, MT has been updated from the ground up over the last four and a half years, including a new kitchen, flooring, paint, plumbing, tin roof, sidewalks, and patio. The main floor features one bedroom, main-floor laundry, and a walk-in shower bathroom. The basement offers pantry space and potential for a second bedroom. Outside, a heated workshop, carport, two new storage sheds, and standout landscaping with a backyard firepit round out a property that's genuinely move-in ready.
