MDU Second Quarter Earnings Conference Call August 2013 RESOURCES Doran N. Schwartz Group, Inc. Vice President & Chief Financial Officer 1
Company Management Dave Barney President & CEO of Knife River Corporation Steve Bietz President & CEO of WBI Energy Nicole Kivisto Vice President, Controller & Chief Accounting Officer of MDU Resources Frank Morehouse President &…
MDU David L. Goodin RESOURCES President & Chief Executive Officer Group, Inc. 4
Consolidated Results Second Quarter Consolidated Results (millions) 2012 2013 GAAP earnings 53.9 46.3 Discontinued operations (5.1) .1 Unrealized commodity derivatives gain (3.0) (8.2) Natural gas gathering asset impairment 1.7…
Exploration & Production Second Quarter Adjusted Earnings 37% higher oil production (millions) 24.8 128% higher average realized natural gas prices 9% higher average realized oil prices 15.0 Partially offset by: Higher…
Outlook Focusing on higher return oil development plays Projecting 25% to 35% increase in oil production for 2013 Expect to invest approximately 400 million in 2013 Primary areas Bakken Paradox Basin Texas Actively pursuing…
Electric & Natural Gas Utilities Second Quarter Earnings (millions) 14% higher natural gas retail sales volumes 2012 2013 Colder weather 4% higher electric retail sales volumes Partially offset by: (1.5) Higher operations and…
Outlook Plan to invest approx. 1 billion during next 5 years Expect to grow rate base by approx. 6% compounded annually over next 5 years 75 million infrastructure investment in 2013, higher customer counts and increased loads in…
Pipeline & Energy Services Second Quarter Adjusted Earnings (millions) 2.5 2.6 Higher revenues from May 2012 acquisition Lower operations and maintenance expense Largely offset by: Lower storage services revenue 2012 2013…
Outlook Pursuing liquid based midstream opportunities Purchased 50% interest in Pronghorn oil and natural gas midstream assets in western ND Partnering to construct a 20,000 BPD Bakken diesel topping plant Potential for Paradox Basin…
Construction Materials & Services Second Quarter Earnings (millions) 22.9 Higher workloads and margins at the services group 16.5 Higher asphalt, liquid asphalt oil and ready-mixed concrete margins Partially offset by: Lower…
Outlook Substantially higher backlog totaling 1.2 billion Strong national indicators for business Public work expanding supported by longer-term transportation funding/assistance Strengthening markets in key areas Expanded…
Earnings per Share Guidance* *On Adjusted and 1.30 GAAP basis to 1.40 Note: As of July 31, 2013 RESOURCES Building A Strong America 14
Capital Expenditures Growth 3.9B 3.1B Increase Cap Ex Construction E&P 26% Regulated next 5 years 20082012 20132017 Note: Excludes unidentified acquisitions and proposed 400-mile pipeline. RESOURCES Building A Strong…
Dividend Growth 0.69 75 Years 75 consecutive years of quarterly dividend payments Dividend increased 0.45 November 2012, marking 22 consecutive years of increases Committed to paying a competitive dividend 2003 2004 2005 2006…
MDU Building A Strong America RESOURCES Group, Inc. 17
Loading...
