Effective July 1, 2012, the operations of Williston Basin Interstate Pipeline Company, Bitter Creek Pipelines, LLC, and Total Corrosion Solutions, all subsidiary companies of MDU Resources Group, Inc. (NYSE: MDU), changed their name to be part of the newly created WBI Energy, Inc. group of companies. Although all three companies have long been sister companies in the corporation, they operated somewhat separately under WBI Holdings, Inc. In early May 2012, WBI Energy was created to more actively manage all operations under a single overriding brand. The natural gas transmission pipeline operations will be within WBI Energy Transmission, Inc. and the gathering pipeline and related energy services will be part of WBI Energy Midstream, LLC. The cathodic protection group, formerly known as Total Corrosion Solutions, will be known as WBI Energy Corrosion Services. “We are proud of what our previous names represented,” said Steven L. Bietz, president and CEO of WBI Energy. “With this name change, we are clearly communicating that we are a single, full-service energy provider – a one-stop shop for energy related services.” The company’s recent emphasis on further expansion into midstream energy services also supports the name changes. Earlier this year, the company announced plans to study the development of a diesel topping plant in western North Dakota and also purchased a 50 percent interest in an existing natural gas processing facility, a crude oil pipeline gathering system, and a crude oil storage terminal and pipeline, all located in western North Dakota. These new assets operate as a part of the midstream portion of WBI Energy. “We are executing our strategy to become more liquids-based in the midstream market diversifying our operations into midstream gathering and processing of natural gas liquids and crude oil,” Bietz said. “This strategy complements both our expertise in dry gas gathering, transportation and storage, and our asset base in the Bakken and throughout the Rocky Mountain region. We feel the new naming structure more clearly communicates who we are and what we do.”
About MDU ResourcesMDU 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 Web site at www.mdu.com or contact the Investor Relations Department at firstname.lastname@example.org . Forward-Looking Statements The 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 contained in this release, including statements by executive management of WBI Energy, 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. Important factors that could cause actual results to differ materially from those in the forward-looking statements include fluctuations in crude oil and natural gas production and prices; the timely receipt of necessary approvals; and risks incidental to the development and operation of oil and natural gas wells, processing plants and pipeline systems. For a discussion of important factors that could cause actual results to differ materially from those expressed in the forward-looking statements, refer to Item 1A – Risk Factors in MDU Resources’ most recent Form 10-K.