A STRONG INFRASTRUCTURE Regulated IS THE HEART OF E&P Construction OUR ECONOMY Doran N. Schwartz Vice President and Chief Financial Officer MDU Resources Group, Inc. Building A Strong America 1
Steve Bietz President and CEO of WBI Holdings Dave Goodin G di ated E&P President and CEO of Montana-Dakota Utilities, Great Plains Natural Gas, Cascade Natural Gas and Intermountain Gas Constructtion Bill Schneider…
A STRONG INFRASTRUCTURE Regulated IS THE HEART OF E&P Construction OUR ECONOMY Terry D. Hildestad President and Chief Executive Officer MDU Resources Group, Inc. Building A Strong America 4
Consolidated Results (millions) 2009 * 2010** Earnings excluding 260 260.44 242 242.77 ated E&P one-time items After-tax charge (384.4) (16.5) Construcction Gain on sale --- 13.8 Regula Earnings/Loss (124.0)…
NATURAL GAS & 16% lower average realized OIL PRODUCTION natural gas prices 2010 Earnings 11% lower natural gas (millions) production 87 7 * 87.7 85 6 85.6 Higher production taxes Partially Offset by: - 39% higher average…
Bakken Mountrail County, ND Mountrail County Natural Gas & Oil Production Own 16,000 net acres Held by production Drilled 8 wells in 2010 for a total 37 operated wells Average production approx. 3 700 net barrels per day 3,700…
Bakken Stark County Natural Gas & Oil Production Approx Approx. 50,000 50 000 net acres Primary target Three Forks formation Stark StarkCounty, County,ND ND First discovery well, Kostelecky 31-6H - 24-hour IP rate of 1,257…
DJ BASIN Niobrara Oil Play Niobrara Oil Shale Play Activity Samson O&G Chesapeake FEPC Natural Gas & Oil Production PLATTE EOG Hold approx. 65,000 net exploratory acres FEPC - Goshen and Laramie counties, Wyoming GOSHEN…
Hedging Strategy Natural Gas & Oil Production Hedges g Assumed 2011 Prices (Feb.-Dec.) 2011: Natural Gas 45% - 50% Natural Gas: - Weighted average swap price 5.30 - Weighted average collar floor/ceiling 5.62/6.50 NYMEX - 4.25 -…
Outlook Natural Gas & Oil Production Capital Expenditures totaling approx. approx 306 million in 2011 - Includes further exploitation of existing properties, exploratory drilling and 50 million for leasehold acquisitions Returns…
PIPELINE & ENERGY Higher storage services SERVICES revenue 2010 Earnings (millions) Partially Offset by 39.7 * Hi h operation - Higher ti andd 37 8 37.8 maintenance expense Primarily resulting from a natural gas gathering…
Outlook Baker Storage Enhancement Pipeline & Energy Services Ultimate expansion will add 125 MMcf/d firm deliverability First st pphase ase to eexpand pa d app approximately o ate y 30% ofo ultimate expansion, subject to…
ELECTRIC & NATURAL Higher electric retail sales GAS UTILITIES margins and volumes 2010 Earnings Income tax benefit of (millions) 4.8 million 65.9 Higher nonregulated 54.9 energy-related services Partially Offset by: - Decreased…
Rate Case Recovery Electric & Natural Gas Utilities Wyoming Wyoming PSC approved electric rate increase of 2 2.77 million annually effective May 1, 1 2010 Primarily related to costs of Wygen III North Dakota Rate case request of 8.8…
Outlook Electric & Natural Gas Utilities Service territories continue to experience customer growth Pursuingg opportunities pp associated with ppotential development p of high-voltage g g transmission lines and system enhancements…
CONSTRUCTION MATERIALS & Lower asphalt oil, ready-mixed CONTRACTING concrete and asphalt margins and 2010 Earnings volumes (millions) ( ) Decreased construction margins 47.1 Partially offset by: - Lower selling, general and 29.6…
Outlook Construction Materials & Contracting Low cost structure - SG&A expenses down 38%, 38% compared to 2006 annual expenses, expenses the peak earnings year ated E&P Dec. 31 backlog 420 million - Includes several highway…
CONSTRUCTION SERVICES Lower construction workloads 2010 Earnings and margins in the Western and (millions) Central regions 25.6 ff by: Partially offset - Higher workloads and margins in 18.0 the Mountain region - Lower general and…
Outlook Construction Services Low cost structure - SG&A expenses down 31%, compared to 2008 annual expenses, the peak earnings year Dec. 31 backlog at 373 million, which is 56 million higher than Sept. 30 backlog - Includes variety…
2011 Earnings Per Share Guidance 1.05 to 1.30 Note: As of February 2, 2011 Regulated E&P Construction MDU Resources Group, Inc. Building A Strong America 21
A STRONG INFRASTRUCTURE Regulated IS THE HEART OF E&P Construction OUR ECONOMY MDU Resources Group, Inc. Building A Strong America 22
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