Operational Updates
MDU Resources 3Q Earnings Driven by Bakken Activity
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MDU Resources Group, Inc. reported third quarter consolidated earnings of $71.1 million, or 38 cents per share, excluding the effect of a noncash ceiling test write-down at its exploration and production group primarily related to lower natural gas prices. This is an earnings per share increase of 12 percent compared to third quarter 2011 earnings per share of 34 cents. Comparative earnings were $63.8 million. Including the noncash write-down the company reported a consolidated loss of $29.8 million, or 16 cents per share for third quarter 2012.
"We had a good quarter. With the strength of our diversified group of companies, we were able to generate solid earnings growth for the quarter even though we realized lower natural gas and oil prices than the prior year," MDU Resources president…
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