NORTH DAKOTA, US – Williston Economic Development announces the Enhanced Bakken Supply Chain Initiative. The initiative aims to reduce costs and increase efficiencies for Bakken operators while expanding manufacturing and logistics business development in the Bakken region.
“The oil and gas operators in the Williston Basin face a higher break-even crude price due to higher costs and inefficiencies in the Bakken supply chain,” stated Shawn Wenko, Executive Director of Williston Economic Development. “On the other hand, we have regional manufacturers and logistics companies that can serve the oil and gas industry in a way that reduces costs and turn-around times as this market begins to mature.”
To kick off the initiative, Williston Economic Development has partnered with DAWA Solutions Group to produce the 1st Annual Manufacturing and Logistics Conference (ManLog) March 25-26, 2015 in Williston, North Dakota.
The energy industry utilizes high volumes of commodities and an array of specialty tools and equipment; however, the majority of these products is located hundreds of miles away and is costly to source and transport.
ManLog will bring regional businesses closer to the Oil Patch together with the oil and gas industry to understand the industry and explore mutually beneficial business development opportunities.
ManLog will bring together manufacturers, machinists, suppliers, commodity sources, manufacturer’s reps, logistics companies and other stakeholders with the energy industry to explore these opportunities.
“One of our goals in 2015 is to help more of our regional manufacturing firms get connected to the oil and gas industry,” said Wenko. “Given the magnitude and expected duration of this $30 billion industry, now is the time to grow and diversify our economy throughout the region.”
The Enhanced Bakken Supply Chain initiative reaches far beyond the Williston Basin into the greater region. “We fully recognize the labor and other challenges facing manufacturing in the Williston basin,” explains Jeff Zarling, President of DAWA Solutions Group. “While we may need to make widgets in Wahpeton, it is important to own the supply chain in Williston. The well-head is where the problems exist, the relationships are built, and the solutions are developed.”
“We need to start connecting those dots with regional manufacturers that can deliver more cost-effective products and services. The end result is a win-win with reduced costs for operators and economic development and diversification for companies and communities throughout the region,” added Zarling. “At a time when our regional Ag manufacturers are facing a downturn, the oil and gas industry represents an opportunity to diversify their markets.”
Beyond opportunities in the product and service supply chain that serves the oil and gas operators, the conference will explore opportunities that exist in value-added energy business development. North Dakota’s oil and gas production provides significant feedstock for value-added energy development or downstream opportunities such as LNG processing, fertilizer production, petro-chemical plants and others.
ManLog will feature informative presentations, industry related panel discussions, product and opportunity exploration, networking opportunities, and a trade show.