JANUARY 2015 Inside this issue:
CHAMBER at a glance GM’s Report Member Spotlight New Members Events Review Committees at Work Expert Advice
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a publication of the Brandon Chamber of Commerce
PRESIDENT’S MESSAGE
Roadmap to the Bakken The growing oil industry in the Bakken formation continues to have a significant impact on the economy of Westman. It provides the opportunity for business growth and a new market for service delivery while challenging an already thin labour market with an abundance of well paying jobs. With conservative estimates being that the Bakken formation has a lifespan of over 20 years – it is time to realize the economic gains from this sector.
almost all fronts. These representatives were optimistic on the proximity of Brandon to the actual heart of the patch, feeling Brandon was well positioned as an urban market to reach into the Bakken and experience significant benefits while being sheltered from some of the issues incurred by being too close to the actual formation.
Currently, a number of companies do reach into the sector for service and goods delivery, and have been very sucThere have long cessful in doing been oil wells in so. Brandon has “our conference is the southwestbecome home to ern part of our an established to provide a province, but office for Trican roadmap for market new technoloWell Service – gies have caused bringing with it entry or expansion. a real boom in some very good the production jobs. Yet, it is our from the Bakken feeling at the since the year 2000. South of us, North chamber that we are not maximizing our Dakota has experienced massive ecopotential economic benefits. Saskatchenomic growth but supply to support wan, North Dakota and Montana all apBakken activities has been extremely pear to be getting significantly larger challenging. As we were told by experts pieces of the economic pie and as a busifrom Montana at the Chamber Oil and ness community, it is time for us to reach Gas Event last February, the boom has in and grab a larger piece of the action. basically created a wealth of opportunities as needs far exceeded supply on For context, figures giving context to the
Todd Birkhan, Chamber President play are startling: The Bakken is estimated by the U.S. Geological Survey to have 4.3 billion barrels of recoverable oil, with estimates consistently growing as technological advancements allow more of the estimated oil in place to be recoverable. To support movement of product alone, Enbridge has recently announced it is planning a $7.5 billion line 3 replacement program, the largest project in Enbridge’s history, it involves replacing existing pipe with new pipe along the pipeline which runs from Hardisty, Alberta to Gretna, Manitoba. These are merely a couple of numbers that show the level of opportunity economically speaking. The size of the (Continued on page 6)