North Dakota is a state in the Midwestern United States. The development of the region's Bakken formation has led to an oil boom economy and produced one of the lowest unemployment rates in the United States and renewed population growth in the state. [1] [2] Oil and gas is now the state's largest contributor to the economy, replacing the agricultural sector. [1] [3]
This list shows firms in the Fortune 500, which ranks firms by total revenues reported before January 31, 2018. [4] Only the top five firms (if available) are included as a sample.
| Rank | Image | Name | Revenues (USD $M) | Employees | Notes |
|---|---|---|---|---|---|
| 560 |  | MDU Resources | 4,443 | 10,140 | Integrated gas and electrical utility, including distribution and pipelines. The firm is also a provider of infrastructure development. |
This list includes notable companies with primary headquarters located in the state. The industry and sector follow the Industry Classification Benchmark taxonomy. Organizations which have ceased operations are included and noted as defunct.
| Name | Industry | Sector | Headquarters | Founded | Notes |
|---|---|---|---|---|---|
| Acme Tools | Consumer services | Tool & equipment distributor | Grand Forks | 1948 | |
| Alerus Financial | Financials | Banks | Grand Forks | 1879 | Bank and financial services |
| Altru Health System | Health care | Health care providers | Grand Forks | 1997 [5] | Hospitals and health care |
| Bank of North Dakota | Financials | Banks | Bismarck | 1919 | State-owned bank |
| Basin Electric Power Cooperative | Utilities | Conventional electricity | Bismarck | 1960 | Electrical cooperative |
| Basin Safety Consulting Corporation | Industrials | Business support services | Williston | 2012 | Health and safety consulting |
| Bell Bank | Financials | Banks | Fargo | 1966 | Bank |
| Blue Flint Ethanol | Utilities | Alternative electricity | Underwood | 1974 | Bioethanol plant |
| Bobcat Company | Industrials | Commercial vehicles & trucks | West Fargo | 1947 | Farm and construction equipment |
| Burger Time | Consumer services | Restaurants & bars | West Fargo | 1987 | Fast food chain |
| Cass-Clay | Consumer goods | Food products | Fargo | 1934 | Dairy |
| Cobray Company | Industrials | Defense | Westhope | 1964 | Firearms, defunct |
| Dakota Coal Company | Utilities | Conventional electricity | Bismarck | 1991 | Part of Basin Electric Power Cooperative |
| Dakota Gasification Company | Utilities | Gas distribution | Beulah | 1984 | Part of Basin Electric Power Cooperative |
| Dakota Growers | Consumer goods | Farming & fishing | Carrington | 1990 | Agricultural processing |
| Econofoods | Consumer services | Food retailers & wholesalers | Wahpeton | 1930 | |
| Eide Bailly LLP | Industrials | Financial administration | Fargo | 1917 | Accounting |
| Fargo Bridge & Iron Co. | Industrials | Construction | Fargo | 1898 | Bridge construction company |
| First International Bank | Financials | Banks | Watford City | 1910 | Bank |
| Forum Communications Company | Consumer services | Publishing | Fargo | 1878 | Newspapers |
| Gate City Bank | Financials | Banks | Fargo | 1923 | Bank |
| Haxby & Gillespie | Industrials | Business support services | Fargo | 1906 | Architecture, defunct |
| Hebron Brick Company | Industrials | Building materials & fixtures | Fargo [6] | 1986 [6] | Bricks |
| Home of Economy | Consumer services | Broadline retailers | Grand Forks | 1939 | Retail chain |
| Hornbacher's | Consumer services | Food retailers & wholesalers | Fargo | 1951 | Supermarket chain |
| Hugo's | Consumer services | Food retailers & wholesalers | Grand Forks | 1939 | Supermarket chain |
| JLG Architects | Industrials | Business support services | Grand Forks [7] | 1989 | Architects |
| McKenzie Electric Cooperative | Utilities | Conventional electricity | Watford City | 1945 | Electrical cooperative |
| McLean Electric Cooperative | Utilities | Conventional electricity | Garrison | 1945 | Electrical cooperative |
| MDU Resources | Industrials | Diversified industrials | Bismarck | 1924 | Power, gas, construction |
| NoDak Films | Consumer services | Broadcasting & entertainment | Minot [8] | 2010 | Film production |
| Noridian Mutual Insurance Company | Financials | Life insurance | Fargo | 1940 [9] | Health/life insurance |
| North Dakota Mill and Elevator | Consumer goods | Food products | Grand Forks | 1922 | State-owned flour mill |
| Ntractive | Technology | Software | Grand Forks | 2006 | Software, defunct 2016 |
| Packet Digital | Technology | Semiconductors | Fargo | 2003 | Integrated circuit manufacturing |
| Pointe of View Winery | Consumer goods | Distillers & vintners | Burlington | 2002 | Winery |
| Pracs Institute | Health care | Biotechnology | Fargo | 1983 | Defunct 2013 |
| Red River Broadcasting | Consumer services | Broadcasting & entertainment | Fargo | 1980 [10] | Television |
| Scheels | Consumer services | Specialty retailers | Fargo | 1902 | Sporting goods retailer |
| Space Aliens Grill & Bar | Consumer services | Restaurants & bars | Bismarck | 1997 | Restaurant chain |
| SRT Communications | Telecommunications | Fixed line telecommunications | Minot | 1951 | Telecom cooperative |
| Straus Clothing | Consumer goods | Clothing & accessories | Fargo | 1879 | Defunct 2016 |
| Swanson Health Products | Consumer services | Specialty retailers | Fargo | 1969 | Personal care products |
| The Kegs Drive-In | Consumer services | Restaurants & bars | Grand Forks | 1946 | Restaurant |
| The Vault | Consumer services | Restaurants & bars | Valley City | 2009 | Coffee shop |
| Titan Machinery | Consumer services | Specialty retailers | Fargo | 1980 | Agricultural and construction equipment |
| Vanity | Consumer services | Apparel retailers | Fargo | 1957 | Fashion retailer, defunct 2017 |
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North Dakota is a landlocked U.S. state in the Upper Midwest, named after the indigenous Dakota Sioux. It is bordered by the Canadian provinces of Saskatchewan and Manitoba to the north and by the U.S. states of Minnesota to the east, South Dakota to the south, and Montana to the west. North Dakota is part of the Great Plains region, characterized by broad prairies, steppe, temperate savanna, badlands, and farmland. North Dakota is the 19th largest state, but with a population of less than 780,000, it is the 4th least populous and 4th most sparsely populated. The state capital is Bismarck while the most populous city is Fargo, which accounts for nearly a fifth of the state's population; both cities are among the fastest-growing in the U.S., although half of all residents live in rural areas.
ConocoPhillips Company is an American multinational corporation engaged in hydrocarbon exploration and production. It is based in the Energy Corridor district of Houston, Texas.
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World Kinect Corporation, formerly known as World Fuel Services Corporation, is an energy, commodities, and services company based in Doral, Florida. The company ranked No. 70 in the 2022 Fortune 500 list of the largest United States corporations. WKC focuses on the marketing, trading, and financing of aviation, marine, building, and ground transportation energy commodities and related services. As of 2013, WKC also operates in natural gas and power.
Big Oil is a name sometimes used to describe the world's six or seven largest publicly traded and investor-owned oil and gas companies, also known as supermajors. The term, particularly in the United States, emphasizes their economic power and influence on politics. Big Oil is often associated with the fossil fuels lobby and also used to refer to the industry as a whole in a pejorative or derogatory manner.
The Bakken Formation is a rock unit from the Late Devonian to Early Mississippian age occupying about 200,000 square miles (520,000 km2) of the subsurface of the Williston Basin, underlying parts of Montana, North Dakota, Saskatchewan and Manitoba. The formation was initially described by geologist J. W. Nordquist in 1953. The formation is entirely in the subsurface, and has no surface outcrop. It is named after Henry O. Bakken (1901–1982), a farmer in Tioga, North Dakota, who owned the land where the formation was initially discovered while drilling for oil.
Continental Resources, Inc. is a petroleum and natural gas exploration and production company headquartered in Oklahoma City. The company was founded by Harold Hamm in 1967 at the age of 21 as Shelly Dean Oil Company, originally named for Hamm's two daughters. In 1990, Shelly Dean re-branded itself as Continental Resources. It primarily used hydraulic fracturing and directional drilling to produce from low permeability formations.
The North Dakota oil boom was the period of rapidly expanding oil extraction from the Bakken Formation in the state of North Dakota that lasted from the discovery of Parshall Oil Field in 2006, and peaked in 2012, but with substantially less growth noted since 2015 due to a global decline in oil prices. Despite the Great Recession, the oil boom resulted in enough jobs to provide North Dakota with the lowest unemployment rate in the United States from 2008 to at least 2014. The boom gave North Dakota, a state with a 2013 population of about 725,000, a billion-dollar budget surplus. North Dakota, which ranked 38th in per capita gross domestic product (GDP) in 2001, rose steadily with the Bakken boom, and had a per capita GDP 29% above the national average by 2013.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; government agencies; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Boston, Massachusetts; Williston, North Dakota; Denver, Colorado; Edmonton, Alberta, and Sydney, Australia.
EnCap Investments is an American private equity firm, specializing in the energy industry, particularly oil & gas. The firm was established in 1988 and is based in Houston, Texas.
