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Article: Natural Gas Reserves Increase Dramatically at MDU Resources.
- Article from:
- Business Wire
- Article date:
- February 24, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BISMARCK, N.D.--(BUSINESS WIRE)--Feb. 24, 1999--Fidelity Oil Group, the oil and natural gas exploration and production unit of MDU Resources Group, Inc. (NYSE: MDU), has more than doubled its energy production and reserves over the past 10 years. In that period, Fidelity reports production has grown at an average rate of over 10 percent per year while reserves have grown at an average rate of over 8 percent per year, net of ongoing production. Natural gas reserves have increased most significantly growing to over 110 billion cubic feet (Bcf) in January 1999 after Fidelity's acquisition of certain properties in Louisiana, Texas, Oklahoma and Mississippi. This production and ...