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Williston Basin Interestate
Pipeline announces plans to develop natural gas pipeline out of Bakken
production region BISMARCK, N.D. - May 19, 2008 - WBI Holdings, Inc.
announced today that its subsidiary, Williston Basin Interstate Pipeline
Company, plans to develop the Bakken Pipeline, a new natural gas pipeline
designed to transport natural gas from the fast-growing Bakken Play in
northwestern North Dakota and northeastern Montana to a new pipeline
interconnect with Alliance Pipeline. The proposed pipeline will consist of approximately 100 miles of
16-inch diameter pipeline, compression and associated facilities. It will
originate at an interconnect with Williston Basin's existing pipeline
system in Mountrail County, N.D., and will run northeasterly to a new
pipeline interconnect with Alliance Pipeline in Bottineau County,
N.D. The Bakken Pipeline is anticipated to have an initial capacity of
approximately 100 million cubic feet per day, with the flexibility to
expand capacity to 200 MMcf per day. It is projected to be in service in
mid-2010, subject to shipper commitment and regulatory
approvals. "The Bakken Pipeline will provide producers who are active in the
Bakken Play the option to deliver natural gas to the growing markets
served by Alliance Pipeline in the Midwestern and Eastern United States,"
said Steven L. Bietz, president and chief executive officer of WBI
Holdings. "This pipeline will be designed to transport rich, high-Btu
natural gas and will provide producers the option to deliver certain
natural gas liquids out of the Bakken Play. It may reduce gas processing
requirements and provide market opportunities for natural gas liquids that
do not exist currently for the Bakken Play." The Bakken Pipeline offers a number of potential benefits to producers
and Williston Basin shippers:
The Bakken Pipeline open season will begin June 16 and will run through
July 11. Open season documents will be available on Williston Basin's Web
site at www.wbip.com. The information in this release includes forward-looking statements,
including statements by the president and chief executive officer of WBI
Holdings, Inc. regarding plans to develop and potential benefits of
developing a natural gas pipeline out of the Bakken production region,
within the meaning of Section 21E of the Securities Exchange Act of 1934.
Although the company believes that its expectations are based on
reasonable assumptions, actual results may differ materially. Important
factors that could cause actual results to differ materially from those in
the forward-looking statements include fluctuations in natural gas prices;
the timely receipt of necessary permits and approvals; market demand for,
and/or available supplies of, energy-related products and services; and
unanticipated project delays. For a discussion of other important factors
that could cause actual results to differ, refer to Item 1A - Risk Factors
in MDU Resources' most recent Form 10-K and Form 10-Q. WBI Holdings, Inc. provides natural gas transportation, underground
storage and gathering services through regulated and nonregulated pipeline
systems and provides energy marketing and management services throughout
the United States. WBI Holdings is an indirect subsidiary of MDU Resources
Group, Inc., a multidimensional natural resource enterprise traded on the
New York Stock Exchange as "MDU." For more information about WBI Holdings,
visit the company's Web site at www.wbip.com. * * * * * * * * * * * * * * * * * Media Advisory - Map artwork available: A print-ready map showing the proposed location of the Bakken Pipeline
is available for downloading at: www.mdu.com/information_news/bakkenproject.jpg Contacts: Media Industry Mark D. Anderson |
