KMMawarded for excellence

Raytheon's Integrated Defense Systems division traveled to Killdeer Mountain Manufacturing's corporate headquarters in Killdeer to award the company with an Excellence Award for contributions to the MK54 Torpedo program. The award notes KMM's commitment to excellence in support of the MK54 Torpedo Program and the U.S. Navy.

The MK54, co-developed by Raytheon Integrated Defense System and the U.S. Navy, is an anti-submarine warfare weapon deployed from surface ships, helicopters and fixed-wing aircraft to track, classify and attack underwater targets.

Minot title company opens

North Dakota Guaranty & Title Co. recently opened Minot Guaranty & Escrow Co., located at 1401 S.W. 11th Ave., Suite 2.

Paula Bachmeier has been named vice president-manager. She has worked within the title industry since 1973, has been on the North Dakota Land Title Association Education committee and was instrumental in developing the NDLTA standards manual.

Rita Lystad was been named assistant vice president-assistant office manager. She is a native of Towner and graduated from the University of North Dakota with a degree in computer programming. She has more than 20 years experience in the title industry.

North Dakota Guaranty & Title Co. is the parent company of Mandan Guaranty & Title, Dickinson Guaranty & Title and Minot Guaranty & Escrow Co.

MDU makes purchase deal

MDU Resources Group Inc. announced that its indirect wholly-owned subsidiary, Fidelity Exploration & Production Co., signed a purchase and sale agreement to acquire natural gas properties located in Rusk County, Texas.

The agreement includes the purchase of 97 billion cubic feet equivalent of proven reserves and 36 Bcfe of estimated probable reserves. Current net production from these assets is approximately 17.5 million cubic feet equivalent per day. The purchase price for these properties is $235 million, or $2.42 per thousand cubic feet equivalent of proven reserves, subject to accounting and purchase price adjustments customary with acquisitions of this type. The effective date of the acquisition is Jan. 1, with the expected closing date to occur on or before Jan. 31.

The assets are being purchased from EnerVest Ltd. and certain of its affiliated parties and co-venturers. Fidelity will be the operator of the newly acquired assets and expects to drill approximately 25 wells in 2008 to further develop the properties. The acquisition is expected to be accretive to 2008 earnings per share and financed through a combination of internal funds and other borrowings.

Fidelity's projected growth for natural gas and oil production in 2008 was previously forecast to be in the range of 5 percent to 8 percent. Pending the successful close of this transaction, 2008 production is expected to increase in the range of 12 percent to 16 percent over 2007 production levels. Meeting these targets will depend on the timely receipt of regulatory approvals and the success of exploration activities.

Experience Works moves

Experience Works, a nonprofit provider of the nationwide Senior Community Service Employment Program, has moved its Bismarck office for its southwest service area of 15 counties. The Experience Works Bismarck-based multi-county office is now located at 1501 N. 12th St.

Experience Works assists people age 55 and older, unemployed and with limited income to gain paid work experience, training, and employment services. The Bismarck-based office serves the following counties: Burleigh, Morton, Oliver, Grant, Sioux, Mercer, Emmons, Dunn, Stark, Hettinger, Adams, Slope, Bowman, Golden Valley and Billings. The regional communications office that serves the five-state Rocky Prairie Lakes Region for Experience Works is co-located at 1501 N. 12th St. That office supports communications efforts in the states of North Dakota, South Dakota Minnesota, Wyoming and Montana.

For more information about Experience Works and its services, contact the Bismarck Experience Works office at 701-258-8879 or go to http://www.experienceworks.org.