RESOURCES Group, Inc . First Quarter Earnings Conference Call May 2014 Doran N. Schwartz Vice President & Chief Financial Officer
Company Management Dave Goodin President & CEO of MDU Resources Dave Barney RESOURCES President & CEO of Knife River Corporation Steve Bietz President & CEO of WBI Energy Frank Morehouse President & CEO of Montana-Dakota…
RESOURCES Group, Inc . David L. Goodin President & Chief Executive Officer
Exploration & Production 102% higher average realized natural First Quarter Adjusted Earnings (millions) gas prices 14% higher oil production 24.0 25.2 Lower gathering and transportation expenses Partially offset by: Net…
Outlook Returns Based Investment Philosophy Focus on oil growth projecting 15% to 20% increase this year Growth in Paradox, Bakken and Powder River Basin Capital expenditures of approximately 670 million 130 million in the Bakken 180…
Electric & Natural Gas Utilities First Quarter Earnings Higher operation and maintenance (millions) expense, largely higher payroll and benefit- related costs 42.3 Absence of 2.9 million after-tax gain on 38.3 sale of nonregulated…
Outlook Plan to invest approximately 1.3 billion during next 5 years Expect to grow rate base by approximately 700 million, 9% compounded annually over next 5 years Large growth projects Potential projects for accommodating load…
Pipeline & Energy Services First Quarter Earnings (millions) Higher earnings from interest in Pronghorn oil and natural gas 4.3 midstream assets Higher transportation volumes Partially offset by: 2.3 Lower storage services…
Outlook Filed rate case Oct. 31 with FERC; new rates effective May 1 Liquid based midstream opportunities Start up of joint venture 20,000 BOPD Dakota Prairie Refinery Anticipate increased volumes at Pronghorn oil and natural gas…
Construction Materials & Services Record quarterly earnings at Services First Quarter Earnings (millions) Normal seasonal loss at Materials Higher workloads and margins in Western 2013 2014 Region at Services group Partially offset…
Outlook 1.05 billion backlog to start construction season Including highest first quarter backlog since 2007 of 653 million at Construction Materials Strengthening markets in key areas Expanded operations in North Dakota…
Record Capital Program 4.6B 3.2B Increase Cap Ex Construction E&P 43% Regulated over next 5 years 2009-2013 2014-2018 Note: Excludes unidentified acquisitions and proposed 375-mile pipeline.
Funding Plan for 2014 2014 Projected Capital Expenditures Totaling Approximately 1.2 Billion Funding Sources Range Operating cash flows 675M - 725M Debt 200M - 250M Non-strategic asset sales 0 - 100M+ Equity 250M - 300M
Shareholder Returns Total Annualized Shareholder Returns MDU One Year 1 Year 41% 41% 20% 5 Year 10 Year 11% 22% 21% 17% 20 Year 13% MDU S&P 500 S&P 400 Peer Avg. Note: At March 31, 2014 RESOURCES Group, Inc .
2014 Earnings per Share Guidance* 1.50 Up from: to 1.45 to 1.60 1.65 *On Adjusted and GAAP basis as of April 30, 2014
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