Price recovery leads to rebound in oil jobs

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We've talked for months about how lower oil prices have hurt everything from the job market to the state's tax collections. Finally there may be signs of a turnaround.

As of this afternoon, American oil was trading at just under $50 per barrel, the plateau that could trigger a boost in production and jobs.

As prices continue to rebound, contractors are getting ready to get back to work.

"I'm definitely excited to see some of the positive things that are starting to roll in now," said Monte Besler, FRACN8R Consulting, LLC.

The Department of Mineral Resources says companies are only about a week-and-a-half away from sending out work-over rigs to restart inactive wells.

"Those wells are capable of about 20-to-30 barrels a day so that won't have a huge impact on production, but it'll have a huge impact on jobs. Williston Job Service has confirmed that they're getting lots of job orders for workover rig people," said Lynn Helms, Department of Mineral Resources.

Helms says Britain's vote to leave the European Union has postponed oil from actually hitting and exceeding the 50 dollars a barrel price point, which has delayed new frack crews.

"It's going to be at least the fourth quarter before we see a serious amount of frack crews that're put in the field," said Helms.

"Along with price you need time to get the confidence of the investor money to start rolling in again," said Besler.

It may not be back to the boom, but slowly, lots of oil activity may soon be coming back to the Bakken.

Job Service Williston says there are about 20 fracking jobs available right now, but companies are also hiring in heavy machinery operation, pipeline construction and more. ​