This Blog From the MDW Blog , thanks to Bruce.. The article originally from GF paper. This refinery was to be Similar to the MDU Dickinson unit.. The projected cost is less than 50 % of the Dickinson unit. don
Lagging oil prices have postponed plans for a proposed diesel oil refinery in Devils Lake.
About a year ago, Eagles Ledge Energy, based in Vancouver, B.C., had announced plans to build a $200 million, 20,000-barrel-per-day clean fuels oil refinery in Devils Lake.
The refinery, operating under the name of American Dakota Refinery, is proposed to convert crude oil from the Bakken Formation in western North Dakota into off-road diesel fuel for use in farm and construction equipment.
However, the project currently is on hold, as oil prices have plummeted from more than $100 per barrel in September 2013 to the low $40-$50 range in recent months.
This and other Proxy materials pertaining to the BOD are on Slide 194-195 of the electronic version of the 2014 annual report . The date for proposal submission is passed. don
Stockholder Proposals: The requirements we describe above are separate from and in addition to the Securities and Exchange Commission’s
requirements that a stockholder must meet to have a stockholder proposal included in our proxy statement pursuant to Rule 14a-8 under
the Exchange Act. For purposes of our annual meeting of stockholders expected to be held on April 26, 2016, any stockholder who wishes
to submit a proposal for inclusion in our proxy materials must submit such proposal to the corporate secretary on or before November 19,
Minot is one of Many cities IRET has apartments. this article from AP was in todays Bismarck Trib. don
7 hours ago • Associated Press
MINOT — It's getting easier to find an apartment in Minot these days.
The city's vacancy rate has risen from 4.9 percent in April to 10.8 percent in October.
Minot's vacancy rate hit a low after the 2011 Souris River flood and the peak of the western oil boom, when it was hard to find a vacant apartment anywhere in the city.
Not all of the flooded rental housing was replaced, though many new apartments have since been built. Magic City Apartment Association Vice President Justin Hammer says numerous units are coming into the market at the same time as a downturn in the oil industry.
That means more vacancies. Some property companies are even offering special deals, like a month's free rent.
Any Idea;s how this may or may not impact that copper mine land holding SWC has?? don
There are 13 inactive wells in Utah. The 24 active wells in Sept produced 70,964 B0 in a 30 day month. The oil production was 9,897 less BO or 12.2 % less then August of 2015.. don
the Canadian $$$ is about .76 US cents to a cad $$.. So selling any American Made product in Canada will have a exchange price to pay... I also bought several hundred shares this last week..don
The 63 ND Cedar creek NG wells in ND produced 51,093 Mcft of NG. The month of Sept has 30 days and the 101 fidelity ND oil wells produced 181,589 BO. This is 12,543 BO Less then in Aug of 2015.
The Associated NG that was sold from the oil wells was 165,078 Mcft. this is a reduction of 2,575 Mcft from the aug. production .The Unhedged NG price at Northern Border near Watford is $ 1.70 per mcft..The average price for unhedged Bakken oil in Sept was $ 31.17 per BO. don
Good for you, if you are going to have a Snowblower it is best to have a good operating one..
Have you looked at OKE lately??? I am looking but just biding time. i am wondering if OKS and OKE will reengineer themselves financially.. your Thoughts??
Jerry , if your still in Chicago area the Wind from Western ND will get to you tomorrow.. Most of the Day out here was 25-30 mph, with gusts approaching 40 mph.. don
The dividend has been raised a whole .02 cents per share.. the opening price on Nov 12 th 2014 of MDU stock was $ 25.50, today it opened at $ 18.65.. todays open reflects a 27 % reduction in price from nov 12th of 2014. don
BISMARCK, ND -- (Marketwired) -- 11/12/15 -- The MDU Resources Group (MDU) (NYSE (NYX): MDU) board of directors today increased the company's quarterly common stock dividend to 18.75 cents per share, for an annualized dividend of 75 cents per share. The previous quarterly dividend was 18.25 cents per share .
bozezone. I had figured that out a long time ago that jr=mig. They have been on my Ignore list for way over a year.. the name of those ignored pop up for a second on the computer screen , then are magically flushed away, just like a terd down the toilet..
When Yellen starts raising the Interest rates, all of the utility stocks will be under more pressure..if you Look at xlu it has approx. a p/e of 17 today.. but when the 10 yr treasury goes to 3.5 or 4 % who knows..
in 14 months the country will have a different administration, and many times in the past major event/changes occur..i remember the years of the late 70's and early 80's and high interest rates.. these 0 interest rates can not/will not go on for ever.. don
pull up a 6 month chart of MDU and I believe the stock is heading for a Quadruple bottom in price.. 3 are in and 1 below Christmas. The Stock will come under pressure from mid term holder who are looking for a Tax loss in 2015. JMHO don
This refinery has been on line for about 7 months, and it is Still at 66 %, ( gee if you bought a new truck and it only worked at 66 % ) I though Calumet Specialties was brought in as a partner because they Knew how to Operate refineries..one has to wonder why the difficulties, and why there never is any press statement other then at Earnings time, this is from Page 4 of SA Conference call in Q+A section. They suggest it might take several years to work thru refinery issues Martin A. Fritz - President & Chief Executive Officer, WBI Holdings, Inc., MDU Resources Group, Inc.
Hey, Paul. This is Martin. How we sort of think about it is I with (25:38) the team is there are things we can control and things we can. Obviously, we would be unaffected by the pricing in terms of the bases in the Bakken and in terms of diesel and naphtha sale prices have been down though they are starting to climb back. So things that we can control is we've just started marketing a winter diesel product that's good to 40 degrees below.
Depending on the weather, we think we could get anywhere from $0.10 to $0.20 premium. And we're also in the process of – we don't use biofuels and blend because of where we're financially, we're actually going to file for a potential refund of a couple of million dollars. And then with the start-up and sort of break in process, we have a lot of contractors we've been using to keep things up to speed. We see that leveling off and becoming a little more lean and mean on that side. And then also we're in the process of working through debottlenecking. Our crude tower can do 30,000 barrels per day. It's going to take us couple of years to work our way through, but we're going to continue to work on that and currently obviously we're at 20,000 barrels per day.
there was some discussion about refinery in CC questions.. but the company made a statement that the profits from refinery were lower cause diesel demand and price was down. Well the cost of Crude is 50 % from a year ago, unless MDU bought long term contracts for crude at a high price.. Also this refinery was to process 30,000 BO daily and I think is only doing about 20,000 BO.. so what does that suggest.. don
The Cedar creek NG field is located in SW ND and SE of Baker Mt. I believe this to be the first or One of the very first Fidelity exploration owned, Since the mid 1930;s. The operational cost is just about nothing, and the 63 ND NG wells consistently produce Approx. 53,000 MCFT per month. I do not follow the MT production. I bet MDU keeps this property..don
info from Page 4 of MDU 3rd qtr CC available at seeking alpha.
( Patrick L. O’Bryan - President and CEO, Fidelity Exploration & Production Company, MDU Resources Group, Inc.
Yeah, Matt, thanks for the question. We did have interest in our Cedar Creek net profits interest project asset there. And when we looked at the offers versus what we felt the value of the asset is, we just felt like that we should continue marketing particularly given the fact that what we get is a monthly check which is our net proceeds from the asset. There are no operations or engineering capability requirements and there is no capital investment needed. So we are continuing to market it, and when we get the appropriate – a good price for it, then we'll move forward with that. )
This info is from Page 4 in the Q+ A portion of Seeking alpha MDU 3rd qtr Conference call and pertains to Fidelity Exploration and Sale of oil producing properties. The NET cash sale of $ 325 Million and the approx. $ 125 Million federal tax credits due to NOL and asset sales below tax basis
( From a use of proceeds perspective, as we announced, $450 million. About $325 million of that is in the cash proceeds; $125 million relates to net operating loss, refunds or carryforwards due to selling certain assets below the tax basis. So we would anticipate as we announced use of proceeds to repay debt essentially at Fidelity, allocated debt. And a lot of that will happen here in 2015, about $300 million and then the remaining $125 million will happen probably into 2016, potentially 2017, but primarily 2016 as we monetize those NOLs on future tax returns)
This info is also page 4 and Deals with the Debt That the Fidelity Exploration has on its ledger.
( Doran N. Schwartz - Chief Financial Officer & Vice President
Yeah. I certainly can, Matt. The amount of debt at Fidelity, and it's allocated debt, is $425 million at the end of September and roughly $300 million of that is short-term debt and $125 million of that is longer term debt that we would deal with after 2015.
Interest expense so far on a year-to-date basis through September at Fidelity on an allocated basis is roughly $11 million, and again, we'd anticipate the majority of that to go away as we repay debt here by the end of 2015. There will be some in 2016, but substantially taken care of by the end of 2016. )
It appears that the use of Intermittent elec sources is causing MN residents to pay more. Search ( the subject for complete article ) don
Xcel Energy said it will begin seeking a three-year rate hike of nearly 10 percent from Minnesota customers. File photo of new Xcel power lines under construction in central Minnesota.
Xcel Energy on Monday requested a 9.8 percent electric rate hike in Minnesota that would be phased-in over three years and by 2018 result in $132 more in annual payments for the typical residential customer.
In a regulatory filing, Xcel said capital investment in transmission, distribution and generation of electricity, along with increases in normal business costs are behind the request.
The Minneapolis-based utility, the state’s largest power company with 1.2 million customers, applied for an interim rate hike of 5.5 percent in January, followed by smaller increase in January 2017. Together, the two interim rate increases would total 7 percent.