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Mon, Sep. 15, 9:15 AM
Mon, Sep. 15, 9:02 AM
- 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.
Thu, Aug. 14, 3:05 PM
Mon, Aug. 4, 5:36 PM
Mon, Aug. 4, 5:30 PM
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Tue, Jun. 24, 7:17 PM
- North Dakota's governor wants to double the state's pipeline capacity over the next two years as part of a plan to curb wasteful gas flaring and reduce the reliance of Bakken producers on rail and trucks to get their oil to market.
- Oil production in North Dakota has more than tripled in the past decade to 1M boe/day, but the state's pipeline capacity is only ~780K boe/day; Gov. Dalrymple says the state should boost capacity to 1.4M boe/day by 2016.
- The governor's overtures were timed with Enterprise Products Partners' (EPD) plans to build a first-of-its-kind 1,200-mile pipeline from North Dakota's Bakken oil fields to Cushing, Okla.
- ONEOK (OKE), Enbridge (ENB), MDU Resources (MDU) and other pipeline operators have been working to build natural gas networks in the state, but they have been constrained by cold weather and right-of-way issues.
- While environmental groups worry about flaring, many residents see traffic as a reason to build pipe; a local officials says citizens "are less worried about global warming then they are about the 1,100 trucks that go by their mailbox every day."
Thu, May. 15, 1:25 PM
Wed, Apr. 30, 5:43 PM| Comment!
Mon, Mar. 24, 5:52 PM
- MDU Resources (MDU) says it is looking for more natural gas producers to sign up to use its planned $650M Dakota pipeline that would transport the fuel through North Dakota to Minnesota.
- MDU in January launched a 120-day period for prospective customers of the pipeline, the largest project in the company's history, to sign supply agreements to transport natural gas.
- The open season period ends May 30, and MDU then will begin deciding whether to build the pipeline; permitting alone could take two years, and construction should then take six to 12 months, CEO Dave Goodin says.
- Also, Goodin says MDU, along with Calumet Specialty Products Partners (CLMT), is focused on finishing the new Bakken refinery but has no current plans to build a second one.
Wed, Mar. 12, 5:40 PM
Thu, Feb. 13, 2:21 PM
Mon, Feb. 3, 6:38 PM| 2 Comments
Mon, Feb. 3, 8:57 AM
- MDU Resources (MDU) says its proposed $650M pipeline to move natural gas from North Dakota's Bakken formation is the biggest and most expensive project in the company’s history.
- MDU’s subsidiary WBI Energy last week began seeking shipping comments for the 375-mile pipeline project, which could initially move 400M cf/day of natural gas.
Mon, Feb. 3, 12:10 AM
Sun, Feb. 2, 5:35 PM
Dec. 19, 2013, 7:47 AM
- MDU Resources (MDU) raises its full-year 2013 guidance, now seeing EPS of $1.45-$1.50 vs. $1.35-$1.45 prior guidance and $1.42 analyst consensus estimate.
- MDU says favorable weather in northern states in October and November helped extend the construction season, and colder weather in December has resulted in higher natural gas and electric sales at the company's utility.
- MDU +0.5% premarket.
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