MDU's Preliminary Guidance -- 1Q11

Data points from the press release (some numbers rounded):

• pushing the upper range of their guidance
• negatively impacted by warmed weather in eight-state region
• negatively impacted by low realized natural gas prices
• negatively impacted by widening of Bakken wellhead oil pricing spreads in March compared to WTI
• April price has improved; forecasts further improvement through 2012
• the recently announced $85 million 88-megawatt natural gas generation facility is a significant investment in the company's $915 million  5-year utility capital growth program
• oil production should reach target of 20 to 30 percent increase over previous year
• overall oil production approx 10,500 bopd; 20 percent from same period last year
• 8 more rigs than a year ago; 10 rigs now
• five rigs operating in the Bakken
• Bakken: 124,000 net acres
• will focus on oil; cut back on natural gas
• annual earnings for remainder of 2012 reaffirmed in the range of $1.00 to $1.25, based on $2.50 natural gas and $100 oil