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MDU Resources Group, Inc. is a regulated energy delivery and infrastructure company that operates across the United States. The company focuses on generating, transmitting, and distributing electricity, as well as distributing natural gas and providing related services. MDU also offers natural gas transportation and underground storage services through its regulated pipeline system.
- Construction Services - Provides a wide range of construction services, including electrical and mechanical contracting, as well as transmission and distribution line construction.
- Natural Gas Distribution - Distributes natural gas and offers value-added services across multiple states, ensuring reliable energy delivery to residential, commercial, and industrial customers.
- Electric - Generates, transmits, and distributes electricity to customers in several states, supporting residential, commercial, and industrial energy needs.
- Pipeline - Offers natural gas transportation and underground storage services, primarily operating in the Rocky Mountain and northern Great Plains regions.
Name | Position | External Roles | Short Bio | |
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Garret Senger ExecutiveBoard | Chief Utilities Officer | Garret Senger is the Chief Utilities Officer at Montana-Dakota Utilities Co., Cascade Natural Gas Corporation, and Intermountain Gas Company since January 6, 2024. He has a long history of executive leadership at MDU, holding roles in regulatory affairs and accounting since 2007 and is also a board member of MDU Resources Group, Inc.. | ||
Jason L. Vollmer ExecutiveBoard | Vice President, Chief Financial Officer, and Treasurer | Jason L. Vollmer has been serving as Vice President, Chief Financial Officer, and Treasurer at MDU Resources Group, Inc. since June 1, 2023. He has held several key financial leadership positions at the company over the years, contributing significantly to its financial strategy and stability. | ||
Jeffrey S. Thiede ExecutiveBoard | President and Chief Executive Officer of MDU Construction Services Group, Inc. | Director on the board of Everus Construction Group | Jeffrey S. Thiede has served as President and Chief Executive Officer of MDU Construction Services Group, Inc. since April 30, 2013 , bringing over 20 years of experience in the construction services industry. He is also expected to serve as a director on the board of Everus Construction Group upon its planned spinoff in late 2024. | |
Nicole A. Kivisto ExecutiveBoard | President and Chief Executive Officer | Director at Bravera Bank ; Member, American Gas Association ; Member, Edison Electric Institute | Nicole A. Kivisto has been the CEO of MDU Resources Group, Inc. since January 6, 2024. With nearly 29 years of experience at the company, she previously served as President and CEO of several utility subsidiaries between January 9, 2015 and January 5, 2024. | View Report → |
Paul R. Sanderson ExecutiveBoard | Vice President, Chief Legal Officer, and Secretary | Paul R. Sanderson has been serving as Vice President, Chief Legal Officer, and Secretary at MDU Resources Group, Inc. since June 1, 2023 and also holds a director position on the board. He has extensive experience in corporate law and regulatory matters, having previously been a partner at a private law firm. | ||
Anne M. Jones Executive | Vice President and Chief Human Resources Officer | Anne M. Jones has been serving as the Vice President and Chief Human Resources Officer at MDU since November 11, 2021. She has a robust background in human resources, having held leadership roles at MDU since 2008, contributing significantly to HR strategy and operational excellence. | ||
Margaret (Peggy) A. Link Executive | Vice President and Chief Information Officer | Margaret (Peggy) A. Link served as Vice President and Chief Information Officer at MDU from December 1, 2017 until her retirement on January 10, 2025, and previously held roles as Chief Information Officer and Assistant Vice President - Technology and Cybersecurity Officer at MDU. | ||
Stephanie A. Sievert Executive | Vice President, Chief Accounting Officer, and Controller | Stephanie A. Sievert has served as the Vice President, Chief Accounting Officer, and Controller at MDU Resources Group, Inc. since September 30, 2017. Previously, she served as Controller from May 30, 2016 and as Vice President, Treasurer, and Chief Accounting Officer of WBI Energy, Inc. from January 1, 2015. | ||
Chenxi Wang Board | Independent Director | Founder and Managing General Partner at Rain Capital Fund, L.P. (since December 2017) ; Technical Board of Advisors, Secure Code Warriors (since June 2019) ; Board Observer, ProjectDiscovery, Inc. (since October 2022) ; Board Observer, Stanza System, Inc. (since November 2022) ; Founder and Director, Forte Group (since November 2022) | Chenxi Wang is an Independent Director at MDU Resources Group, Inc. since 2019. She brings extensive expertise in technology, cybersecurity and capital markets, and has previously held executive roles at companies such as Twistlock, Inc. and CipherCloud, LLC. | |
Darrel T. Anderson Board | Vice Chair of the Board of Directors | Board Chair, Blue Cross of Idaho | Darrel T. Anderson currently serves as Vice Chair of the Board at MDU Resources since February 13, 2025. He has over 28 years of experience in the regulated utility industry, having previously served as President, CEO, and CFO at IDACORP and Idaho Power Company until May 2020. | |
Dennis W. Johnson Board | Chair of the Board | Chair, President, and CEO at TMI Group Incorporated; Vice Chair of the Bank of North Dakota Advisory Board | Dennis W. Johnson has served as Chair of the Board at MDU Resources Group since May 8, 2019 and has been an independent director since 2001. He previously served as Vice Chair of the Board from February 15, 2018 to May 8, 2019. | |
Douglas W. Jaeger Board | Independent Director | President and CEO of Ulteig, Inc.; Director at Computype Inc.; Board Member at Great Plains Institute | Douglas W. Jaeger, with over 27 years of experience in the electric utility and construction services industries, joined MDU as an independent director on May 14, 2024. He is also the president and CEO of Ulteig, Inc. since 2015 and has held executive positions at Xcel Energy and Adolfson & Peterson. | |
Marian M. Durkin Board | Board Director | Marian M. Durkin serves as an independent director on the Board of Directors at MDU Resources Group, Inc. since August 15, 2024; she brings extensive legal, compliance, and governance expertise from her previous senior roles at Avista Corporation and United Airlines, and as an attorney at Briggs and Morgan. |
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With the pipeline segment's record third-quarter earnings driven significantly by stronger-than-expected storage revenues, how sustainable do you believe this storage demand is going forward, and what risks do you foresee that could impact storage revenues in future quarters?
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You recently completed the acquisition of a 28-mile natural gas pipeline lateral in northwestern North Dakota; can you provide more details on the strategic rationale behind this acquisition, and how it fits into your long-term growth plans, especially considering the size and expected return of this investment?
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Given the strong performance of your pipeline business and the potential for future acquisitions mentioned, should we expect more inorganic growth initiatives in the pipeline segment, and how do you balance these with your focus on organic growth and maintaining shareholder value?
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Considering that the increase in your earnings guidance was partly due to favorable weather conditions and strong storage performance, how confident are you in sustaining earnings growth if these conditions normalize, and what strategies are in place to mitigate potential volatility?
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Regarding the regulatory challenges faced in Montana, including the interim rate relief denial in your natural gas rate case, how might these headwinds impact your investment and growth plans in that jurisdiction, and are you reconsidering your exposure or strategy in Montana?
Notable M&A activity and strategic investments in the past 3 years.
Company | Year | Details |
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Badger Wind Farm | 2025 | Montana-Dakota Utilities Co. (a subsidiary of MDU Resources Group, Inc.) acquired a 49% ownership interest in the Badger Wind Farm (122.5 MW out of 250 MW capacity) for an estimated $294 million; the deal is contingent on regulatory approval from the NDPSC and is part of a strategic plan to shift the generation mix toward renewables while reducing the PPA capacity from 150 MW to 27.5 MW. |
No recent press releases or 8-K filings found for MDU.