WBI Holdings, Inc. - Company Profile

Our Vision
Building upon our strengths and expertise, WBI Holdings, Inc. will become a leader in meeting North America's energy needs, while looking for opportunities to expand our horizons globally.

Our Mission
As an integrated energy company, WBI Holdings, Inc. is committed to meeting the needs of the energy marketplace for the benefit of its shareholders, customers, and employees.

Overview:
Although the predecessor company of WBI Holdings was created in 1985, it traces its roots to the 1920s when it was known as the Production and Transmission Division of Montana-Dakota Utilities. The transfer of these operations into a corporate subsidiary was part of the broader corporate realignment that occurred in 1985 and was the genesis of what today is WBI Holdings.

WBI Holdings is the parent company of a group of operations involved in two strategically related lines of business:

Pipeline and energy services.
Natural gas and oil exploration and production.

The pipeline and energy services operations provide natural gas transportation, underground storage and gathering services through regulated and nonregulated pipeline systems primarily in the Rocky Mountain and northern Great Plains regions, along with energy related marketing and management services. The natural gas and oil production segment is engaged in natural gas and oil acquisition, exploration, development and production activities primarily in the Rocky Mountain and Mid-Continent regions of the United States and in and around the Gulf of Mexico. In short, WBI Holdings is a vertically integrated group of energy companies whose purpose is to add value for the benefit of its customers and shareholders.

WBI Holdings, Inc.
WBI Holdings provides administrative services in an efficient manner to all of the company’s business units. This entity includes human resources, financial and general accounting, business development, information technology, safety and environmental, and executive management departments. WBI Holdings’ headquarters is in Bismarck, N.D.

Pipeline and Energy Services

Williston Basin Interstate Pipeline Company is the regulated business of WBI Holdings. It owns and operates more than 3,700 miles of transmission, gathering and storage lines and owns or leases and operates more than 30 compressor stations in Montana, North Dakota, South Dakota and Wyoming. Three underground storage fields in Montana and Wyoming provide storage services to local distribution companies, producers, natural gas marketers and others, and serve to enhance system deliverability. Williston Basin’s system is strategically located near five natural gas-producing basins, making natural gas supplies available to Williston Basin’s transportation and storage customers. The system has 11 interconnecting points with other pipeline facilities, allowing for the receipt and/or delivery of natural gas to and from other regions of the country and from Canada. Williston Basin, which is regulated by the Federal Energy Regulatory Commission, maintains two headquarters locations, one for administrative functions in Bismarck and an operations headquarters in Glendive, Mont. In addition, Williston Basin maintains field offices in Baker, Mont., and in Worland, Wyo.

Bitter Creek Pipelines, LLC All of the company’s nonregulated gathering pipeline assets are owned and operated by Bitter Creek Pipelines. This includes gathering facilities in Colorado, Kansas, Montana and Wyoming. A one-sixth interest in the assets of various offshore gathering pipelines and associated onshore pipeline and related processing facilities also is owned by Bitter Creek. In total, these facilities include more than 1,900 miles of field gathering lines and 85 owned or leased compression facilities, some of which interconnect with Williston Basin’s system. In addition, Bitter Creek provides installation sales and/or leasing of alternate energy delivery systems, primarily propane air facilities, energy efficiency product sales and installation services to large end-users. Bitter Creek is headquartered in Bismarck, with field offices in Saco, Mont.; Wray, Colo.; and, Sheridan, Wyo.
Prairielands Energy Marketing, Inc. provides natural gas purchase and sales services to local distribution companies, producers, other marketers and a limited number of large end-users, primarily using natural gas produced by the company’s natural gas and oil production segment. Prairielands was created to provide an assortment of energy-related services to clients within the corporation as well as external clients, including large industrial and commercial operations. Today, the company’s focus is on marketing the natural gas production of the corporation to a variety of markets throughout the Upper Midwest and the Rocky Mountain regions. Prairielands is headquartered in Bismarck.

Natural Gas and Oil Exploration and Production

Fidelity Exploration & Production Company is involved in the acquisition, exploration, development and production of natural gas and oil resources. Fidelity’s activities include the acquisition of producing properties with potential development opportunities, exploratory drilling, and the operation and development of natural gas and oil production properties. Fidelity shares revenues and expenses from the development of specified properties in proportion to its ownership interests. Fidelity’s business is focused in three core regions: Rocky Mountain, Mid-Continent/Gulf states and Offshore Gulf of Mexico. Fidelity is headquartered in Denver and has field offices in Glendive, Mont., Sheridan, Wyo., and, Houston.

Rocky Mountain - Fidelity’s properties in this region are primarily in Colorado, Montana, North Dakota, Utah and Wyoming. Fidelity owns in fee or holds natural gas and oil leases for the properties it operates in the Bonny Field in eastern Colorado, the Baker Field in
southeastern Montana and southwestern North Dakota, the Bowdoin area in north-central Montana, the Powder River Basin of Montana and Wyoming, the Bakken formation in North Dakota, the Paradox Basin of Utah and Big Horn Basin of Wyoming. Fidelity also owns nonoperated natural gas and oil interests and undeveloped acreage positions in this region.
Mid-Continent/Gulf States - This region includes properties in Alabama, Louisiana, New Mexico, Oklahoma and Texas. Fidelity owns in fee or holds natural gas and oil leases for the properties it operates that are in the Tabasco and Texan Gardens fields of Texas. In addition, Fidelity owns several nonoperated interests in this region. In early 2008, Fidelity completed the acquisition of natural gas properties in Rusk County in eastern Texas.
Offshore Gulf of Mexico - Fidelity has nonoperated interests throughout the Offshore Gulf of Mexico. These interests are primarily in the shallow waters off the coasts of Texas and Louisiana.