MDU Resources Group (MDU) updated the company’s development plans for the Bakken in 2011. The company conducts its exploration and production activity through the Fidelity Exploration and Production Company.
MDU Resources Group has moved a second rig into the Bakken and plans to invest $2.1 billion over the next five years, with $306 million allocated in 2011. The new rig will start drilling the TTT Ranch 33-28 well in early May 2011.
MDU Resources Group has a goal of increasing oil production in 2011 from between 5% and 10%. In 2011, the company plans to drill 18 wells targeting the Bakken and other oil formations. Another 24 wells are planned in 2012.