Dakota

Sens. Byron Dorgan of North Dakota and Chris Dodd of Connecticut have added their names to the expanding list of Democrats calling for Congress to impose a windfall profits tax on major oil companies.

With a strong boost from its wholesale merchant businesses, South Dakota-based Black Hills Corp. Tuesday reported an overall earnings increase for both the second quarter and the first six months of this year, with increases in all of its principal business units — both utility and merchant operations. Net income for the second quarter was $14.9 million, or 45 cents/share, compared to $11.4 million, or 35 cents/share, for the same period last year.

A year-old natural gas cost recovery dispute has been settled between the Montana Public Service Commission and South Dakota-based NorthWestern Corp., which operates gas and electric utilities in the state as NorthWestern Energy, the company said late Tuesday. As a result, the utility can collect nearly half of a disputed $10.6 million, plus interest, and will drop a pending lawsuit against the PSC in the Montana District Court in Helena.

Primarily due to higher electric margins, South Dakota-based NorthWestern Corp. reported that its net profits and operating income increased in the first quarter, compared with the same period last year. Net income was $18.9 million, or 53 cents/share, compared with $17 million in the first quarter of 2004. Income from continuing operations was $18.4 million in the first quarter, compared with $12.1 million in the opening quarter last year.

South Dakota-based NorthWestern Energy announced Wednesday it has cleared the last pending hurdle in its post-Chapter 11 bankruptcy reorganization by reaching an agreement in principle to settle all pending legal actions, appeals, claims and disputes involving the utility holding company and Magten Asset Management Corp. and Law Debenture Trust Co. of New York LLC.

South Dakota-based NorthWestern Energy announced Wednesday it has cleared the last pending hurdle in its post-Chapter 11 bankruptcy reorganization by reaching an agreement in principle to settle all pending legal actions, appeals, claims and disputes involving the utility holding company and Magten Asset Management Corp. and Law Debenture Trust Co. of New York LLC.

South Dakota-based Black Hills Corp. Monday reported decreased second quarter earnings as well as the first six months of the year, reflecting decreased electric generation/utility earnings and poor oil/natural gas results.

Given the realities of the post-9/11 world, South Dakota-based NorthWestern Energy Corp. Monday elevated routine annual natural gas pipeline inspections to another level, publicly announcing that its utility personnel in Montana will be checking its gas pipeline infrastructure throughout the state — southwest, northwest, east and south/north central.

If the Wyoming Department of Environmental Quality slows downthe permit approval process for companies eager to begin coal bedmethane projects in the state, the largest producers already thereare expected to have no trouble meeting their drilling schedulesthrough at least the first quarter of 2001. Anticipating thehearings, many had already moved proposed drilling projects for2001 through the regulatory process.