the end of first Half of year, and start of 3 rd qtr tomorrow may throw this stock around real hard.. the 4 % yield is getting closer, with todays prices setting a new 52 week intraday low price..
I would not be surprised if MDU does not issue a earnings warning for the 2nd qtr.. was not a great qtr for elec.sales, to cool, was not good for NG to hot, was not a solid oil price , the Bakken production not under contract sold for low/mid 40 "s last month.
comparing April 2015 to Jan 2015
In april fidelity had 37 wells total, 24 produced, the rest were shut in . In Jan they had 35 wells total and 25 wells produced oil.
The April Production was 81,833 BO, with Jan having 84,817 BO..
The company that is as exciting as watching paint dry had a reduction in oil production of 2,984 BO.
The combined ND, and Utah production for April was 72,801 BO less than Jan 2015 for the 2 states.
April 2015 compared to Jan 2015
April 101 oil wells, and 63 NG wells cedar creek field, Jan 99 oil wells and 63 NG cedar creek wells
April oil production and Runs on 3 confidential wells. 229,709 BO, Jan oil production and runs on 8 confidential wells 299,526 BO
NG production Cedar creek field April 54,673 MCFT, Jan NG cedar creek production 58,401 Mcft.
Associated NG from oil wells sold in April 176.796 mcft, and Jan 205,301 mcft
Fidelity has 5 oil wel permits issued all for Mountrail county ND ....don
the Mdu analyst 1 yr target price has been revised in last several day according to Yahoo . The price has risen to $ 25.33. This is the first revision since the feb 21th downward revision to $ 24.83. don
I just came back from a trip into South central MN . and in this 550 odd mile travel noticed that the Price for # 2 diesel was equal to or a few cents cheaper the unleaded gas with a 10 % ethanol additive.
The last time I have seen when diesel was cheaper then gas was in Oct 2008- till spring 2009, and the USA was in a recession.. I also looked at the price increases in gas/diesel at the Gov site and in the last 6 weeks unleaded has gone up 27.7 Cents and Diesel 9.4 cents..
The Question is the USA going into a recession?? don
MDU has been involved with building a pipeline and working on the Treatment of material for many years...
Google ( $19 billion later, clean-up of WWII atomic waste site still stalled ) for the latest article from the Fiscal times..don
IF MDU makes $ 1.05 like they project, even if they have missed earnings 4 out of last 5 qtrs., that makes the payout on the Dividend at approx. 70 % of earnings..
So for capital projects do they then sell stock , or issue more debt?? don
I think the earnings will be on low side of projected .17 cent to.21 cents.. probably .18 cent.. down from last yr . 32 cents..
The winter Jan-March was Not that cold or that warm, so not a lot of excess NG sold for heat. The Road construction dept was mostly seasonally idled . The contentious E+P could not have made much if any profits, with the ND Average sweet price in Jan at $ 31.41, Feb at $ 34.11 and in march at $31.47..
I realize Fidelity has a good amount contracted/hedged, but the balance did not make them any money..
Today they announce the Start of the Refinery in Dickinson, 6 months late and $ 135 Million or 33 % over original budget.. This announcement was made to quell all the questions about it at the Earnings Call..
My Concern is if you projected operating costs, and Net profit structures on a Orginal price of $ 300 million and now this cost is $ 435 million, with profit structures tight in refining anyways, where did this Profit margin go..
Plant is to fully operational by End of May.. article from todays Dickinson Free press..don
Dakota Prairie Refining has named Mary Trost as its plant manager.
The Minnesota native who previously served as operations manager at BP’s Cherry Point Refinery in Blaine, Wash., will officially take command of the facility on May 18. She will replace Dave Podratz, who has been serving as the temporary plant manager.
Trost has more than 25 years of experience in the refining industry. She was chosen by WBI Energy Inc., which co-owns the plant, located west of Dickinson, with Calumet Specialty Products Partners.
“We’re excited to get her in place,” said Tim Rasmussen, a spokesperson for WBI Energy’s parent company, MDU Resources Group.
Trost has a Ph. D. in chemistry from the University of California and also graduated from the University of Minnesota. Before her work at Cherry Point, she was the maintenance leader at BP’s Texas City (Texas) Refinery.
The nearly-completed Dakota Prairie Refining facility is expected to refine 20,000 barrels a day of Bakken crude oil into diesel fuel, as well as other byproducts.
However, its progress toward operation, which began with a March 2013 groundbreaking, has been slower than expected. Rasmussen said the goal of having the facility fully operational by the end of May looks certain.
if You Google ( Gov. Dayton declares state of emergency over bird flu outbreak ) their is a article about this in the MPLS star and trib .. don
The numbers of chicken and Turkey involved in this bird flu is in excess of 10 million killed.
The outbreaks I am aware of are in the 2 Dakota's, MN , Iowa and Missouri..This will be a Real problem before it is over. don
R, Ziets has a Seeking alpha article on Crude oil topping units, this is What MDU and Calumet are building in Dickinson. The size of these Valero units are greater and less expensive then the Proposed MDU unit.
Google ( Crude Oil Topping Units: A Trend In The U.S. Refining? ) for complete article, or if a reader of SA look under VLO.. don