Mike Fergus of G&M Implement in Sterling, Colorado says his business is seeing improvements and growth despite being in a business that does not focus on the oil and natural gas industry. G&M sells tractors and power equipment to the agriculture industry but is seeing a bump in business because farmers are benefiting from oil ans natural gas production.
Many farmers are selling mineral rights from their land to oil companies as well as helping to build roads and infrastructure to service oil and natural gas wells. The new revenue is helping farmers to make investments in equipment they buy from dealers line G&M.
Mike says they are also selling some equipment directly to the oil and natural gas companies in order to build well pads and drilling sites. He says that the two industries get along well and are mutually beneficial. Agriculture is an energy intensive industry and benefits from increased domestic oil and natural gas production.