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MDU Resources Group, Inc. And Calumet Specialty Products Partners, L.P. Announce Diesel Refinery Joint Venture

Stocks in this article: CLMTMDU

“The development of another oil refinery has been a longtime goal of our state and with this project we are achieving that goal,” Gov. Jack Dalrymple said. “The decision by MDU Resources and Calumet to move forward on a new diesel refinery is good news for North Dakota and the entire nation. This project will be built by the private sector. It will create more jobs, it will help to further diversify our economy and it will increase the region’s supply of diesel fuel. Our Department of Commerce will continue working with MDU and Calumet to move this project forward.”

Goodin and Straumins expressed appreciation for the support this project has received from the state of North Dakota.

“We appreciate the help of the state’s agencies and officials to identify issues and help solve problems that are involved in a complex project such as this,” Goodin said. “We also appreciate North Dakota challenging us with a rigorous permitting process that will help ensure this state-of-the-art facility operates responsibly and safely, and becomes an important contributor to the local and state economy.”

The facility’s engineering and plant design are in the final stages. Westcon has been selected as the general contractor, and Ventech Engineering will be the primary equipment and technology provider. MDU Resources’ construction businesses, Knife River Corporation and MDU Construction Services Group, are among potential subcontractors. Other MDU Resources’ companies involved in the project include Fidelity Exploration and Production Company, which will supply some of the facility’s crude oil; WBI Energy, which will supply natural gas service to operate the facility; and Montana-Dakota Utilities, which will supply the facility’s electricity needs.

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 .

Calumet Specialty Products Partners, L.P. is a master limited partnership and is a leading independent producer of high-quality, specialty hydrocarbon products in North America. Calumet Specialty Products Partners, L.P. processes crude oil and other feedstocks into customized lubricating oils, solvents and waxes used in consumer, industrial and automotive products. Calumet also produces fuel products including gasoline, diesel and jet fuel. Calumet Specialty Products Partners, L.P. is based in Indianapolis, Indiana and has eleven facilities located in northwest Louisiana, northwest Wisconsin, western Pennsylvania, Texas and eastern Missouri.

Forward-Looking Statements

Except for the historical information contained herein, the matters discussed in this release are forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ materially from results anticipated in the forward-looking statements. These risks and uncertainties include, among other things, the ability of the parties to complete financing of the project, the ability of the parties to obtain required regulatory permits, the cost and time to complete the project, and the availability of crude petroleum product and markets for processed products. These and any other statements about future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements.



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