Bismarck

Bismarck, ND-based MDU Resources Group, Inc. reported record first-quarter 2006 earnings Monday, posting consolidated profits of $53.1 million, a 55% increase over the $34.2 million chalked up in the first quarter of last year.

Bismarck, ND-based energy holding company MDU Resources last Friday announced record consolidated earnings for 2005 of $274.4 million, or $2.29/share, compared to $206.4 million, or $1.76/share, for 2004. MDU highlighted what it said was a 30% jump in earnings per share, and reaffirmation of its previous 2006 earnings guidance in the range of $2/share to $2.20/share.

With first half earnings for 2003 up nearly 50% over a year ago, Bismarck, ND-based MDU Resources Group, Inc. announced last Thursday it would be splitting its common stock on a three-for-two basis, if regulators approve. The stock split — in the form of a 50% stock dividend — is expected to be effective on Oct. 29 for shareholders of record on Oct. 10.

With first half earnings for 2003 up nearly 50% over a year ago, Bismarck, ND-based MDU Resources Group, Inc. announced Thursday it would be splitting its common stock on a three-for-two basis, if regulators approve. The stock split — in the form of a 50% stock dividend — is expected to be effective on Oct. 29 for shareholders of record on Oct. 10.

MDU Resources Group, the diversified utility headquartered in Bismarck, ND, said it does not expect to meet its forecasts of $2.30-2.50 per earnings share for this year, and will see “significantly” lower earnings than the predicted $2.60 in 2002 because of the volatility in natural gas prices and a downturn in the economy. Still, MDU said it would stay the course on its long-term goal of an earnings per share growth of 10-12%, as well as a projected 30% increase in combined natural gas and oil production this year.

Fidelity Oil Group of Bismarck, ND, the E&P unit of MDUResources Group Inc., production has grown at an average rate ofmore than 10%/year for the last 10 years while reserves have grownat an average rate of more than 8%/year, net of ongoing production.Gas reserves have increased most significantly, growing to morethan 110 Bcf in January after Fidelity’s acquisition of propertiesin Louisiana, Texas, Oklahoma, and Mississippi. The company targetsboth onshore and offshore properties in many of the major basins.Fidelity operations stretch from Canada through the central U.S.and into the Gulf of Mexico.