2008-09-02-2008-01-04-2008-01-31

Bought E. TX assets, gaining 97 Bcfe proved, 17.5 MMcfe/d.

MDU Resources Group Inc., Bismarck, N.D., (NYSE: MDU) through subsidiary Fidelity Exploration & Production Co., plans to acquire gas properties in Rusk County, Texas, from EnerVest Ltd. for $235 million. The assets include 97 billion cubic feet equivalent of proven reserves and 36 billion equivalent of estimated probable reserves. Current net production is approximately 17.5 million cubic feet equivalent per day. Fidelity will be the operator and expects to drill approximately 25 wells this year. MDU president and chief executive Terry D. Hildestad says, "There is long-term development potential within these high-quality proven reserves and upside potential from the unproven reserves. Combined with our active exploratory programs in the Bakken play in North Dakota and the Paradox Basin in Utah, we expect to be well-positioned for the future." The effective date is Jan. 1. Closing is expected by the end of January. MDU operates in the energy, construction materials and utility resources sectors.