BAKKEN NEWS Cont. from previous page
walker, but makes it a point to buddy up now when she walks. She’s had guys “hoot and holler” at her from pickups and another “rev” up the engine while driving behind her. “I told my daughter, ‘If anything hap-
pens, run. Don’t talk to anyone,”‘ she said.
to Ray for family, but said she’s leaving for Detroit Lakes, Minn., this summer. “I’m not going to stay in this circus.
The hardest is having my security taken away. I don’t like feeling afraid,” she said. She won’t park in her detached garage
in the dark and takes other precautions. She, too, purchased a key alarm and said she doesn’t think women are overreact- ing to life in the oil patch. “I don’t think we’re going overboard.
purchased the self-defense items at the party in Ray don’t get a false sense of security just because they’re carrying an alarm or a stun gun. “Our world has changed. It won’t go
back to being sleepy little Ray,” she said. (Reach reporter Lauren Donovan at 701-220-5511 or email@example.com
She said she hopes that women who Carolyn Perdue, of Ray, moved home worrier,” Ziebar said. She’s an avid
By JESSICA HOLDMAN Bismarck Tribune
Resources Group Inc. is ramping up oil production. “From an oil versus gas standpoint,
natural gas prices are the lowest they’ve been in 10 years,” said Rick Matteson, MDU Resources communications direc- tor. “The money is in oil.” MDU reported its consolidated earn-
I think we’re taking it to the level it be- longs, not to be afraid, but to be respect- ful of the situation and being aware,” Perdue said.
ings for the fourth quarter of 2011 at $60.8 million, or 32 cents per share. The company’s quarterly earnings from con- tinuing operations were $73.9 million or 39 cents per share. MDU reached a record level of oil
With low natural gas prices, MDU
success this past year and our solid fi nan- cial condition, including a strong balance sheet and good cash fl ow, provide a good foundation for future growth.” Oil now makes up 32 percent of
Thursday, February 9, 2012 ■ Page 5 MDU Resources puts focus on oil
MDU’s energy production, double what it was fi ve years ago.
“From an oil versus gas standpoint, natural gas prices are the lowest
production this year, with a 12 percent increase in the fourth quarter over last year and a 7 percent, or 238,000 barrel, increase for the year. The company pro- duced 3.5 million barrels in 2011 and plans to increase its production another 20 percent to 30 percent over the next year. “We continue to invest in this busi-
they’ve been in 10 years.” – MDU Resources communications director Rick Matteson
ness as we focus on a more balanced commodity mix of oil and natural gas,” MDU Resources Chief Executive Offi cer Terry Hildestad said in a statement. “Our
tal expenditures during 2011. With that the company was able to add 95,000 net acres to its leasehold position in the Bakken oil fi eld. The company plans to increase its investments by 45 percent to $700 million this year and expects its to- tal capital expenditures to be about $3.7 billion over the next fi ve years. Cash gen- erated from operations will be the pri-
MDU invested $480 million in capi-
mary source for this funding. “We really ramped it up this year and our goal is to continue that,” Matteson said. “We feel comfortable investing large amounts of money now because we’ve gotten through the threats of the reces- sion.”
of the $700 million into oil exploration and development. The largest portion of that, $160 million or 40 percent, will be spent on the Bakken. The company has three drilling rigs in the Bakken and might add another within the next year. It also has about 50 operated wells in the region. “We’re drilling,” Matteson said. “The
Bakken has moved into the production phase across the board.” The company’s shift to more oil
production will not affect its plans for an 88-megawatt natural gas turbine in Mandan. The company is building the turbine to keep up with its increase in utility customers. If plans are approved, the $85 million turbine should be com- pleted by 2015. (Reach reporter Jessica Holdman at 701-250-8261 or jessica.holdman@bis- marcktribune.com
3840 E Rosser Ave.
700 20th Ave. SE
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MDU plans to invest $400 million
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