Exploration & Production | Midstream - Transportation & Pipelines | Deals - Acquisition, Mergers, Divestitures | Production Rates | Forecast - Production
MDU Resources Lowers 2014 Guidance, Paradox Basin Complications
Print
|
MDU Resources Group, Inc. has said that while its pipeline, utility and construction businesses are continuing the solid performance they reported at midyear, current challenges with oil production in the Paradox Basin have led the company to lower its 2014 earnings guidance.
David L. Goodin, president and CEO of MDU Resources said: "As we near the end of the third quarter, we are pleased with our performance across the majority of our businesses and are confident that our approximate $1.1 billion in planned gross capital investments this year will provide strong future long-term growth.
However, as we noted during our last earnings conference call in August, the Paradox Basin is both very promising and at times very challenging. Its unique characteristics are causing operational issues…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
Williston Basin News
Bakken Midstream Project shelved; as future growth projects thin
Hess Midstream highlighted continued throughput growth across its Williston Basin (Bakken/Three Forks) systems, signaling higher utilization in gas gathering and processing. For producers, the only forward-looking capacity signal…
Empire Petroleum First Quarter 2023 Results
Empire Petroleum announced first quarter 2023 results. Highlights Increased year-over-year per day sales volumes by 4% to 2,206 barrels of oil equivalent per day ("Boe/d") (61% oil, 19%…
Vitesse Energy, Inc. First Quarter 2023 Results
Vitesse Energy, Inc. announced first quarter 2023 results. Highlights Completed spin-off from Jefferies Financial Group Inc. (the "Spin-Off") and closed the acquisition of Vitesse Oil, LLC on January…
Exxon Mobil First Quarter 2023 Results
Exxon Mobil Corp. announced its first quarter 2023 results. Highlights: Delivered record first quarter earnings of $11.4 billion, demonstrating structural earnings improvements through growth of advantaged assets, mix…
ExxonMobil Fourth Quarter, Full Year 2022 Results
Exxon Mobil Corp. reported its fourth quarter and full year 2022 results. Exxon announced fourth-quarter 2022 earnings of $12.8 billion, or $3.09 per share assuming dilution, resulting in…