Before 2008, Joe Genovese was developing land in southern California, Nevada and Arizona. “Then everything went tops-turvy in that part of the world, so we came up to the Bakken area just about three years ago this month,” recalls Genovese, who now is president of Genco Bakken Development LLC. Currently in the promised land of shale oil development, instead of sitting vacant, the homes in his developments cannot be built fast enough.
Back in 1979, Arva Industries Inc. delivered its first heavy equipment material-handling project – a tower lifter for Ontario Hydro. More than three decades later, the company based in St. Thomas, Ontario, boasts clients such as the Canadian Department of National Defense, Canadian Coast Guard, U.S. Air Force and the Toronto Transit Commission.
“Armed with this wealth of experience and keen eye for innovation and design, Arva Industries Inc. recognized the need for niche specialty equipment relating to construction, industrial, military, marine, hydroelectric and mining markets,” the company says.
Not many businesses can call themselves “recession-proof” these days, but most companies serving oilfield operators in the Bakken Shale in North Dakota and Wyoming are as close as it gets. As a provider of turnkey customized workforce housing for some of the largest players in the region, Ameri-Tech Industries LLC has weathered the economic storm to grow beyond North Dakota and become one of the busiest companies in the global mancamp industry.
“One of the key things in the industry is to adjust to any change in the market,” Ameri-Tech founder and CEO Jim Donnan says. “If the demand decreases, we can adjust our packages to offer a lower rate to fulfill customers’ specific needs without them overpaying for services or extras they don’t need.”
Crocodile Gold Corp. President, CEO and Chairman of the Board Chantal Lavoie has seen the company grow significantly since he took the helm in early 2011. “We were a small, junior exploration and producing company a year ago and are now a mid-tier producer,” he says. “Our company profile has changed considerably over the last 12 months from its foundation of exploration activity.”
Opportunity abounds in the Williston Basin. As oil producers have entered North Dakota and Montana, suppliers and service providers have certainly experienced growth opportunities from oil exploration occurring in the state. Unfortunately, the fast-growing market has also left the door open for short-term opportunists. However, at T&R Transport, the oilfield transportation services company has committed to running an operation that is safe, reliable, consistent, honest and ethical. T&R management believes in the long-term viability of the business as a locally owned oilfield services company providing efficient and reliable service.
Finding oil in the Bakken Shale isn’t an issue. Finding housing is a different story. Energy & Mining International has reported extensively on the oil and gas boom currently happening in North Dakota, which is now the No. 2 oil-producing state in the country, surpassing Alaska and California and second only to Texas in production.
Last year, Timberline Drilling Inc., a subsidiary of the gold mining and exploration company Timberline Resources Corp., posted a record profit. In the third quarter, the company posted a net income of $1.42 million compared with its 2010 third-quarter profit of $637,000.
President and CEO Ed Holloway says Synergy Resource Corp. isn’t on too many radar screens at the moment, but that’s going to change. A small, independent oil and gas exploration, development and production firm, Synergy Resource has been growing steadily since its inception, and Holloway says the company has no reason to expect anything else in the months to come. Thanks to the strength of its employees, its experience base and the quality of its assets, Synergy Resource will be a name the industry becomes more familiar with in the near future.