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MDU Resources President And CEO Terry D. Hildestad Announces Retirement Plans; David L. Goodin To Succeed As President And CEO

“I am very pleased that the board of directors has chosen Dave Goodin to succeed me,” said Hildestad. “Dave is a proven leader. He is a 29-year veteran of our company and exemplifies our core values.”

“I am excited to begin my new role as president and chief executive officer of MDU Resources,” said Goodin. “We have a strong management team, and we are well positioned for the future. I appreciate the confidence the board of directors has shown in me with this appointment.”

Goodin began his career with the company in 1983. He served in several positions before becoming president of Cascade Natural Gas in 2007. He became president of Montana-Dakota Utilities, Great Plains Natural Gas and Intermountain Gas in 2008.

Pearce also announced that J. Kent Wells will become a member of the board of directors in January and will serve as vice chairman. Wells, who will report directly to Goodin, is president and chief executive officer of Fidelity Exploration & Production Co., MDU Resources’ oil and natural gas production business.

Wells, 55, joined Fidelity in March of 2011. He was senior vice president of exploration and production for BP’s U.S. natural gas operations from 2007 until 2010, when he was named BP’s group senior vice president for global deepwater response. He was responsible for BP’s onshore natural gas business throughout the U.S., encompassing both exploration and production, and midstream business.

“Kent has done an outstanding job of growing oil production since joining the company early last year,” Pearce said. “His expertise and E&P experience will be a strong addition to the board.”

About MDU Resources

MDU Resources Group, Inc., a member of the S&P MidCap 400 index, provides value-added natural resource products and related services that are essential to energy and transportation infrastructure, including regulated utilities and pipelines, exploration and production, and construction materials and services companies. For more information about MDU Resources, see the company's website at www.mdu.com or contact the Investor Relations Department at investor@mduresources.com .

Copyright Business Wire 2010
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