Exploration & Production | Quarterly / Earnings Reports
MDU Grows Bakken, Paradox Oil Production; Ups 2013 Target
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MDU Resources Group Inc. reported second quarter consolidated adjusted earnings of $47.2 million, or 25 cents per share, compared to $32.5 million, or 17 cents per share in the second quarter of 2012.
Consolidated GAAP earnings were $46.3 million, or 24 cents per common share, compared to $53.9 million, or 29 cents per common share for the second quarter of 2012.
Highlights: Adjusted earnings per share of 25 cents compared to 17 cents last year, 47 percent increase; GAAP earnings per share of 24 cents compared to 29 cents last year. E&P adjusted earnings improved 66 percent (84 percent on a GAAP basis) with oil production growth of 37 percent. Construction business improves earnings 39 percent and reports higher backlog of $1.2 billion. Natural gas utility sees 14 percent increase in…- ✓ Full news archive — U.S., Canada & international coverage
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