Operational Updates
MDU Resources Plans to Increase Its Bakken Drilling Activity
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MDU Resources, announced preliminary unaudited financial results for the first quarter of 2012. The company expects to report first quarter earnings of approximately 19 cents per share, at the upper end of the first quarter earnings guidance range provided in February.
“Our utility operations experienced weather that was generally warmer than normal throughout the eight-state service territory compared to colder than normal temperatures in 2011,” Hildestad said. “In addition, our exploration and production company was affected by low realized natural gas prices during the quarter along with a widening of Bakken wellhead oil pricing spreads in March, compared to WTI posted prices. However, the price spread for April has improved, and forecasts indicate continued improvement throughout 2012.
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