MDU Resources Subsidiaries Expanding Natural Gas Service to Wahpeton, Kindred
Montana-Dakota Utilities Co. and WBI Energy, Inc., both subsidiaries of MDU Resources Group, Inc. (NYSE: MDU), today announced plans for a natural gas pipeline expansion project in eastern North Dakota that will provide more natural gas to customers in Wahpeton, North Dakota, and extend natural gas service to Kindred, North Dakota.
“We are excited to provide additional natural gas to the cities of Wahpeton and Kindred,” said David L. Goodin, president and CEO of MDU Resources. “Natural gas is an abundant resource in North Dakota, and we are proud to be able to help residential and commercial customers take advantage of this low-cost fuel option.”
Montana-Dakota Utilities has secured utility customer contracts that require approximately 10 million cubic feet of firm natural gas service per day in Wahpeton, which exceeds the volume of gas that can be delivered on an uninterruptible basis to the city through the existing transmission pipeline.
To fulfill the additional customer demand, WBI Energy plans to construct a 60-mile, 12-inch natural gas pipeline expansion and ancillary facilities to Wahpeton. The expansion will have capacity of 20 million cubic feet of natural gas per day and is expected to cost approximately $75 million. Upon receipt of all regulatory approvals, WBI Energy expects to begin construction in early 2024 and have the pipeline in service in late 2024.
“Wahpeton has been working diligently to bring this additional capacity to our region to mitigate interruptions in service and provide for future opportunities,” said Wahpeton Mayor Steven Dale. “Wahpeton has been, and will continue to be, a location of choice for value-added ag processors. Additional firm natural gas supply is vital to keeping Wahpeton at the forefront of those businesses.”
As part of this project, Montana-Dakota Utilities also will extend natural gas utility service to the city of Kindred, at the request of city officials and residents.
“We have new housing developments and commercial properties interested in building in Kindred,” said Kindred Mayor Jason DuBord. “Many city residents, businesses, ag processors and surrounding property owners will benefit greatly from access to a firm natural gas supply.”
Information in this release includes certain forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release, including information about project completion, performance and cost, and statements by the president and CEO of MDU Resources, are expressed in good faith and are believed by the company to have a reasonable basis. Nonetheless, actual results may differ materially from the projected results expressed in the forward-looking statements. For a discussion of important factors that could cause actual results to differ materially, refer to Item 1A — Risk Factors in MDU Resources’ most recent Form 10-K and Form 10-Q and subsequent filings with the SEC.
About MDU Resources
MDU Resources Group, Inc., a Fortune 500 company and a member of the S&P MidCap 400 and S&P High-Yield Dividend Aristocrats indices, is Building a Strong America® by providing essential products and services through its regulated energy delivery and construction materials and services businesses. For more information about MDU Resources, visit www.mdu.com or contact the Investor Relations Department at firstname.lastname@example.org.
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