Four divisions:
- E&P (Fidelity, headquartered in Denver)
- Construction
- Electric and Natural Gas Utilities
- Pipeline & Energy Services
- Predominantly natural gas (34% oil)
- 4Q11 production: 30,000 boepd (compare with Whiting: 70,000 boepd)
- Presentation says 3 rigs in the Bakken, but I thought we saw 4 recently (?)>
- Key operating areas in Montana and North Dakota: Bakken (124,000 net acres); Heath Shale (90,000 acres -- Montana); and, Cedar Creek Anticline ("net profits interest" -- Montana)
- 16,000 net acres
- production sets new record: >5,000 net bopd operated and non-operated
- EURs of 250 - 500,000 (compare with Whiting approaching 1 million bbls EUR)
- 51,000 net acres
- EURs of 250 - 400,000 bbls
- 57,000 net acre block adjacent to prolific Elm Coulee field
- EURs of 250 - 400,000 bbls
- 90,000 net acres
- EURs of 165 - 220,000 bbls
- "unprecedented NDDOT budget at $1.73 billion for 2011 - 2013, $800,000 more than last biennium"
- Ports of Southern California
- Long Beach: $25 million contract for Phase I
- Los Angeles: 1.2 million tons of aggregate; contract through 2012
- ND diesel consumption increased 51% in past three years; Bakken area consumption -- 50,000 bpd; ND's sole refinery produces 17,000 bpd
- Will lay 13 miles of pipeline from ONEOK's Stateline I and Stateline II to Northern Border Ppeline
- Completed construction of 12 miles of pipeline from Bear Paw Energy's Garden Creek facility (ONEOK) to Northern Border Pipeline in December, 2011
- Continuing operations in 2010: $243 million; in 2011: $225 million
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