Exploration & Production | Quarterly / Earnings Reports
Bakken-Focused MDU Sees Strongest Quarter Since 2008
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MDU Resources Group Inc. reported first quarter consolidated earnings of $56.3 million, or 30 cents per common share, compared to $35.6 million, or 19 cents per share for the first quarter of 2012.
"This is our strongest first quarter performance since 2008," said David L. Goodin, president and chief executive officer of MDU Resources. "All of our businesses are performing well and are executing their growth plans.
"Our exploration and production business increased oil production 46 percent from the same period last year," Goodin said. "Just as important, we have achieved an important goal of balancing our oil and natural gas production. Each contributed about 46 percent of production, with natural gas liquids making up the remainder."
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