MDU Resources Group (NYSE:MDU) has announced that it has acquired additional leasehold interest in the Bakken area of western North Dakota, in addition to emerging oil shale play in the Niobrara forming in southeastern Wyoming and north-central Colorado. The lease purchase in Bakken include 40,000 net acres. It’s primary target is the Tree Forks Play. The leases acquired by the company have 3-5 year primary terms and will increase its acreage position in the area to 56,000 net acres. The Niobrara oil shale place acquisition will provide the company with 27,000 net acres with a five year primary lease.
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MDU Resources Group, Inc. is a diversified natural resource company. Montana-Dakota Utilities Co. (Montana-Dakota), a public utility division of the Company, through the electric and natural gas distribution segments, generates, transmits and distributes electricity and distributes natural gas in Montana, North Dakota, South Dakota and Wyoming. Cascade Natural Gas Corporation (Cascade), an indirect wholly owned subsidiary of MDU Energy Capital, distributes natural gas in Oregon and Washington. Intermountain Gas Company (Intermountain), an indirect wholly owned subsidiary of MDU Energy Capital, distributes natural gas in Idaho. In August 2009, the Company acquired the assets of Total Corrosion Solutions Inc. (TCS), a full-service cathodic protection company.
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