bam boom bubble bust bump bang
You Are On Search Bakken - $1 Billion Northstar Center - Murphy Auto Plex Boom Or Bust Page

Return To Bakken / ND - Real Estate Boom Or Bust

This has been in play since 2013 Inching Closer 2013
  In 2014
He's abandoning Million Dollar Way, moving North to a billion dollar development."
"In my view, this will be Williston's new city center. There will be approximately 8000 to 10,000 people living on this site.
It's all in the city of Williston right now. We'll be moving dirt on this site by May 15. 2014" - Patrick Murphy

Eye On Energy - May 2014 The Groundbreaking May 2014

google search - North Star Center The Presentation Sept. 2014

Well they did get to moving dirt in the fall of 2014 and into the winter, and buried alot of pipes.
 In 2015
The summer of 2015. And there isn't to much moving at the site, winter is coming. The google capture below is pretty much the same as it is now. 
In 2016 Nothing Changed

In 2017
Murphy has sold his GM dealership & nothing has changed at the North Star Location. Dealership Sold
Seemed strange the guy building a billion dollar development and auto plex sells his dealership!

In 2018 - Default & Bankruptcy - Some $9 Million In Default To Just One Creditor & The City Of Williston Left With What To Do With It!
Citation Communities as captured on the Way Back Machine
Click the Northstar Center Link to see photos of all the money they buried in that ground!

Northstar Center In Default & Bankruptcy Citation Communities Northstar

Citation Northstar Center

Bankruptcy Filing - Listing Of Major Creditors
Indicated There is $50 Million or More In Liabilities

If there is $50 million or more in liabilities, Northstar Center will compare to the losses suffered with the ND Development Group LLC $62 Million Up In Smoke

"I sell cars during the day and real estate is my night job" Murphy 2014
That statement should have sent up a giant Red Flag
All the years he was in Williston he never built a modern dealership and or expanded on the GM brand or facilities for heavy trucks or sales.

This was it, an antiquated dealership, was going to make him a billion dollar developer.

Be Fearful When Others Are Greedy and Greedy When Others Are Fearful - Warren Buffett
Advice that should have been well taken. The way outsiders were treated by the community, the hand writing was on the wall in 2014.

 Patrick Murphy In The Tan jacket

Murphy made that statement in 2011, so why then would you go out and pump a billion dollar project?
Murphy himself stated in the interview about the (rip off) high cost to live in Williston, did he really think anyone would stay after being gouged.
Stress In The Oil Patch

Oil Price as of October 1st 2014, Murphy and a whole lot of others never looked at the chart. Due Diligence!
Oil had been stuck in the 50% Fib retracement of highs to lows of 2008. The news about OPEC meeting in November and the cost of Tight Oil
and the rip off prices of people working in the Bakken, it was all out there to do Due Diligence. They ran with and got sold the hype.
If you look down at the Stochastic for the first time in 6 years it was below the 20 line, pointing straight down! Oil closed 2014 at $52.00 & closed 2018 at $45.85
The Frackers will never learn, Saudi cuts to increase price, the Frackers increase to make a buck and they destroy price. Vicious Cycle of Debt.

Why Shale (Tight) Oil's Safety Net Is About To Expire Regulator Warns Of Lending To E&P's

Bakken Sweet Has Only Traded & Closed In A Year Time Frame Above $60.00 - Four Of The Past Nineteen Years
Bakken oil was $90.94 in May 2014 

Bakken Oil Is Now Trading At!

Return To Bakken / ND - Real Estate Boom Or Bust

It Just Gets Further & Further Spread Out
  In 2015 The New Truck Route Was Finished - $150 Some Million - Hwy. 1804 To Newtown Is Still A Deathtrap
Man Camps Are Outlawed & Strippers Are Outlawed

Man Camps Outlawed
Why - The Majority Never Planned On Staying
Stripper Clubs Outlawed
Better 10 Years Later Then Never

What do you do with it now? It sits in a wind blown valley. Bust off the man holes and let it go back to pasture.

North Star Center & The Williston Crossing to the extreme north and the New Menard's on the west, southwest side.
Is some $2 Billion In commercial really needed in Williston? Can it be sustained?
In 2019 there are alot of empty buildings in Williston, for lease, for sale, etc.
North Star has never been built, Williston Crossing has never been built. Home Depot was never built.

Bakken Decline Production & Price Chart For The Last 10 Years

Be Fearful When Others Are Greedy and Greedy When Others Are Fearful - Warren Buffett

A Great Thank You To Rune Likvern At -  For The Amazing Data He Compiles

A Great Thank You To Art Berman At  - For The Insight Of His Data

A Great Thank You To Enno Peters At  -  Visualizing US Shale (Tight Oil) Production

Question Is

We're setting sail To the place on the map from which no one has ever returned
Drawn by the promise of the joker and the fool By the light of the crosses that burn

Oh, save me. Save me from tomorrow I don't want to sail with this ship of fools

Ship Of Fools

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