MDU Resources Group, Inc. (NYSE:MDU) announced today that its acquisition of Intermountain Gas Company, a wholly-owned subsidiary of privately held Intermountain Industries, Inc., has been finalized. The enterprise value of the transaction, including indebtedness, is approximately $328 million.

By Anonymous Soaring natural gas prices are prompting another Idaho utility to request an increase to its one-year gas cost surcharge, with Intermountain Gas Company's application to raise average monthly rates by between 15 and 18 percent.

By Anonymous If Intermountain Gas Company's annual Purchased Gas Cost Adjustment application is approved by public utilities commissioners, the company's 300,000 or so customers in southern Idaho may see increases of between 15 and 18 percent per therm (a unit of energy roughly equivalent to 29 kilowatt hours of electricity) on their gas bills come Oct.

MDU Resources Group, Inc. (NYSE:MDU) announced record second quarter financial results, with consolidated earnings from continuing operations of $115.3 million, a 41 percent increase from $81.8 million for the second quarter of 2007.

MDU Resources Group, Inc.'s (MDU, IDR rated 'A-' by Fitch) purchase of Intermountain Gas Company (IGC) for a total consideration of approximately $328 million in cash and assumption of debt, is not anticipated to have an effect on MDU's ratings or Stable Rating Outlook.