Energy Matters- Tim’s Take November 11, 2014 Tim Fisher- Bakken Energy Service Inc

First of all my sincere thanks to all of those who have served in the armed forces of the United States of America. God Bless you all and Master Sargent William H Fisher my dad… Thank you for serving in Korea and being as good a man out of uniform as you were in.

My goal is to give the residents of the Bakken and anyone next to a rail road a little comfort on the progress of tight oil stabilization or what we refer to as Bakken Oil stabilization. In the same breath I am going to plead with the state of North Dakota www.nd.gov if they truly want to help must make major changes in their tax policies.

I am grateful to Energy Matters www.KFYR.com  AM 50 for first asking me to be a part of the show and then being flexible in allowing me to be on when possible. One of the main reason I continue the program is my hope in bringing more insight to the public into many tough issues the gas and oil industry face.

I am fortunate to get a seat at many tables with many influential industry CEOs, Presidents    and production planners. It is in these meetings I am always reminded that the government has a role to play in the industry but for the most part the government is to collect taxes from the oil and gas companies’ revenue.

And as politicians   talk, the oil and gas companies are already far ahead of them in providing the money and talent needed to make their industry and those they serve a better place.

Too often I feel the state and federal officials think improvements in safety, the environment   , and workers security happen because they talk about it or threaten to mandate it. The truth is actually 180 degrees. The gas and oil companies always want what is best for the environment, their workers and the communities they operate in.

So now, here is my challenge to the state and federal government. If you are truly concerned with flaring and the stabilization of tight oil i.e. Bakken crude then give all the oil and gas companies a tax holiday on any and all gas captured,  stripped and or sold as a bi-product of tight oil. It cost approximately $60 million just to build a 100,000 barrel a day  stabilizing facility not taking into consideration the cost of operations for about $35 million in revenue $3.5 in gross profit and loss at the end of the year.

Here is why:  by the time we pay the 28% tax and gas royalties we lose money! You want us to spend our shareholders money and or our private equity on capturing a gas or stripping a gas that we lose money on. If you are serious then stop the taxing this bi-product and be satisfied with the huge windfall you receive from oil.

I know what the process costs and the bottom line is there is little to no money in it. Add in the dramatic fall in the price of oil and “Houston, we have a problem”

So I asking the North Dakota Industrial commission to work with Senator Rich Warden to call a special session and introduce a bill that will give gas and oil companies a tax holiday on any and all gas collected. Otherwise you may find 700,000 less barrels    of oil leaving ND each day because of a lack of stabilization.

And that is my take.   www.bakkenenergyservice.com 

Eide Bailly hosts Williston Workshop September, October, November, December- Member of Bakken Energy Service

Eide Bailly www.eidebailly.com hosts several Workshops in Williston at the Grand Williston Hotel www.grandwillistonhotel.com  September, October, November, December plus September 12th Open House and Williston Chamber of Commerce Business After Hours 5:30 – 7:30 p.m. at the  Eide Bailly office, 210 University Ave. Williston. www.chamberofcommerce.com/williston-nd . Eide Bailly is a member of the Bakken Energy Service Team www.BakkenEnergyService.com .

Eide Bailly Workshops Williston North Dakota September through December. Eide Bailly is a member of the Bakken Energy Service Team.

Eide Bailly Hold Workshops in Williston North Dakota September through December. Eide Bailly is a member of the Bakken Energy Service Team.

SEPTEMBER 10

Leveraging Technology to Enable Growth by D.C. Lucas

7:30 – 10:30 a.m. | Grand Williston Hotel & Conference Center
Just like business in the Bakken, technology moves at a fast pace. Our seminar will help you make sense of the options available to you and how organizations can leverage technology to enable growth. Learn how to assess your organization’s people and processes, evaluate business applications and how you can use technology to connect with your customers.

Online Registration


SEPTEMBER 12
Open House and Williston Chamber of Commerce Business After Hours
5:30 – 7:30 p.m. | Eide Bailly office, 210 University Ave. Williston
Come see what Eide Bailly can do for you at the September Business After Hours! Tour our new facility, talk to our service specialists and mingle with fellow community members. Drinks and hors d’oeuvres will be served. Please call 701.577.2157 or email Wendy Carns by September 6 to RSVP.


OCTOBER 8
Wealth Management – Estate Planning for Changing Times by Ava Archibald
7:30 – 10:30 a.m. | Grand Williston Hotel & Conference Center
Wealth Management is a dynamic process that involves many people and individual assets. As people, assets and laws change, it is important to review and adjust your estate plans. Significant legislative changes were made in 2012 and there will likely be more changes implemented in the future. It is essential that you review your planning to consider both current law, as well as the potential changes. Many strategies that are currently beneficial to you may be curtailed by future legislation.

Online Registration


NOVEMBER 12
Maximize Cash Flow from Your Real Estate Investments by Rod Axtell and Robert Lehmann
7:30 – 10:30 a.m. | Grand Williston Hotel & Conference Center
A cost segregation study is an excellent planning tool approved by the IRS to lower income taxes. It’s based on a detailed process that identifies all the costs associated with a building’s purchase, construction, repair, or renovation and puts them on the shortest depreciation life allowed by IRS rules. Learn how you can reduce your income tax liabilities and maximize cash flow from your real estate investments.

Online Registration


DECEMBER 10
Fraud in YOUR Business? by Jeremy Bendewald
7:30 – 10:30 a.m. | Grand Williston Hotel & Conference Center
Fraudulent activity in the workplace is on the rise and has many people wondering if their business is protected. Do you have the necessary controls in place? Are you already a victim of fraud? Learn how to identify red flags and reduce the opportunities for workplace fraud.

Eide Bailly www.eidebailly.com hosts several Workshops in Williston at the Grand Williston Hotel www.grandwillistonhotel.com  September, October, November, December . Eide Bailly is a member  of the Bakken Energy Service Team www.bakkenenergyservice.com .