Last year alone, oil and gas production contributed $283 billion in GDP and $74 billion to state and federal revenues, including more than $200 million to Montana's general fund. Improved horizontal drilling technology partnered with proven hydraulic fracturing released billions of barrels of oil and gas previously thought to be uneconomical to produce. As of October, Montana had produced 23 million barrels of oil. Montana had 13 rigs operating in November, with 10 drilling in the Bakken, according to the oilfield services company Baker Hughes. The need for new wells and new technologies such as Geoslicing™ and Viscosity Modification ™ make production and recovery in this shale play more profitable and the future is very bright.
Luminart Corporation is well positioned to meet the growing demand associated with the Eastern Montana Bakken expansion. The Company’s main subsidiary, White Star Sand & Gravel, provides quality aggregate and scoria products and services with mining operations in Westby, Sidney, Fairview and Culbertson Montana, along with mines in Blasdell, Donnybrook, Stanley, and New Town North Dakota. Through the Company’s subsidiary Outwest Field Services, provides general contractor, specialized services, and Lease Automatic Custody Transfer (LACT) station development. Luminart Leasing is focused on the financial needs of the small to medium sized companies operating in the North Dakota and Montana area. Luminart Leasing has structured funding arrangements with 12 providers of various types of equipment leasing. B3 Well Services is the Luminart subsidiary involved with well pad construction, hauling of the company produced product, and the hauling of product for numerous other contractors and mines. B3 Well Services utilizes a trucking services leasing model and plans to have on contract 100 licensed trucks/drivers within the next 12 months.
This press release may contain forward-looking statements, including, but not limited to, statements regarding Luminart Corp. and their plans, products and related market potential. Forward-looking statements may be identified by the use of the words "anticipates,"