Oil Company Launching New Drilling Project in Montana

This news could bring in massive money to Montana's economy.

Montana's Biggest Industries

We have a few booming industries.

Big Sky Country's main industries are lumber, agriculture, livestock, and alcohol. These industries provide hundreds of millions of dollars yearly.

These industries have been mainstays of Montana's economy for decades.

Why?

Montana's landscape is perfect for these industries to thrive and export to other states or countries.

We might not have car manufacturers or massive tech companies, but Montana does well for itself.

A new industry might be on the way.

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Oil Industries in Montana

Montana is known for producing oil.

North and South Dakota are more known for their oil fields, and many Montanans head there to make money.

That might be changing soon.

Stock Titan reports that Texas-based company Laredo Oil is launching a significant exploratory oil drilling project in Montana.

Laredo Oil has acquired over 30,000 acres of the West Fork Field near the Fort Peck Reservation to determine its viability as a potential oil-producing field.

Laredo Oil will immediately start studying and exploring the area to see the best spots for drilling locations and how much oil the field can produce.

What Does This Mean For Montana?

It could be massive or a letdown.

Until Laredo Oil finishes its studies and surveys of the area, it won't know how much oil it can produce.

If the field ends up being viable, building and installing the drill sites would provide many jobs for locals.

We could have a new booming industry in Montana soon.