Record natural gas production in the Bakken has meant continued utility and pipeline growth for North Dakota-based MDU Resources Group Inc., driving earnings growth upward in 3Q2019, according to CEO David Goodin.
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Bismarck, ND-based MDU Resources Group on Tuesday outlined a five-year capital spending plan in which it plans to spend more than $2.6 billion, mostly in its electric and natural gas utilities, and in midstream pipelines.
Bismarck, ND-based MDU Resources Group said it expects to sell its exploration and production (E&P) business by the end of this year. CEO David Goodin previously had said that Fidelity E&P Co. was going to be sold, but the sharp crude oil price drop late last year caused him to postpone putting it on the market at the time (see Shale Daily,Feb. 5).
Bismarck, ND-based MDU Resources Group Inc. plans to keep Fidelity E&P Co., the exploration and production (E&P) unit, off the sales block this year and instead plans to work to strengthen its value, CEO David Goodin said.
While continuing to cash in on the robust oil and natural growth in its home-based Bakken Shale play, Bismarck, ND-based MDU Resources Group’s exploration/production (E&P) unit looks to expand elsewhere with its increased activity in Utah’s Paradox Basin and an as-yet-unspecified third major oil play.