MDU Resources -6% after cutting FY 2014 guidance

• MDU Resources (NYSE:MDU) -6.2% premarket after lowering FY 2014 guidance for earnings and oil production.
• MDU says the "unique characteristics" of the Paradox Basin are hurting operations, prompting it to cut expected growth in oil production to 3%-7% for the year from earlier expectations for 10%-15% growth.
• As a result, MDU now sees 2014 adjusted EPS of $1.40-$1.50 vs. $1.59 analyst consensus estimate and prior guidance of $1.50-$1.65.