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Williams County amid bear oil market

KFYR-TV · last updated

WILLISTON, N.D. (KUMV) — Williams County Chairman Cory Hanson said the yearly budget has been running fine as the oil industry faces a bear market.

The county is a large recipient of state Gross Production Tax, which is a five percent rate applied to the gross value at a well of oil produced. Hanson said the GPT allocation so far is similar to last year and oil will still be drilled in the region.

“Sounds like there’s some drilling that’s down and some companies are up in drilling. It’s oil; we’ve all been through this many times over and we’ll keep monitoring it closely,” said Hanson.

According to Hanson, the county budgets conservatively to avoid any drastic mid-year changes in operations.

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