MDU Resources buys stake in Bakken project

MDU Resources buys $66 million stake in western North Dakota oil, natural gas project

BISMARCK, N.D. (AP) -- A subsidiary MDU Resources has acquired a 50 percent interest in oil and natural gas facilities western North Dakota.

Bitter Creek Pipelines LLC spent $66 million to acquire Whiting Petroleum Corp.'s ownership interest. Bitter Creek also will be responsible for 60 percent of certain future capital expenditures.

The project includes a newly constructed natural gas processing plant and pipeline system connected to the plant, along with a 20,000-barrel oil terminal that's under construction.

Oil and gas production from Whiting and Fidelity Exploration & Production Co. will supply the facilities. The companies have seven rigs operating in Stark and Billings counties.

Shares of MDU Resources Group Inc., based in Bismarck, rose 12 cents to $22.20 in early trading.

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