-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 GWNXR+oZNvpE6HdPG8joGrKHZUcNvVh/3PUENEyY2OyGy122MSLBBgTOiIAmMs1x
 vh1SC5liW9JCh/c63m2clg==

<SEC-DOCUMENT>0001005477-03-001401.txt : 20030519
<SEC-HEADER>0001005477-03-001401.hdr.sgml : 20030519
<ACCEPTANCE-DATETIME>20030519164831
ACCESSION NUMBER:		0001005477-03-001401
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030515
FILED AS OF DATE:		20030519

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HELMERS STEVEN J
		CENTRAL INDEX KEY:			0001194288

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31303
		FILM NUMBER:		03710830

	MAIL ADDRESS:	
		STREET 1:		P O BOX 1400
		CITY:			RAPID CITY
		STATE:			SD
		ZIP:			57709-1400

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACK HILLS CORP /SD/
		CENTRAL INDEX KEY:			0001130464
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				460458824
		STATE OF INCORPORATION:			SD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		625 9TH STREET
		STREET 2:		PO BOX 1400
		CITY:			RAPID CITY
		STATE:			SD
		ZIP:			57709
		BUSINESS PHONE:		6057212343

	MAIL ADDRESS:	
		STREET 1:		625 9TH STREET
		STREET 2:		PO BOX 1400
		CITY:			RAPID
		STATE:			SD
		ZIP:			57709

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACK HILLS HOLDING CORP
		DATE OF NAME CHANGE:	20001222
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>
    <periodOfReport>2003-05-15</periodOfReport>
    <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001130464</issuerCik>
        <issuerName>BLACK HILLS CORP /SD/</issuerName>
        <issuerTradingSymbol>BKH</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
    <reportingOwnerId>
            <rptOwnerCik>0001194288</rptOwnerCik>
            <rptOwnerName>HELMERS STEVEN J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
        <isDirector>1</isDirector>
        <isOfficer>1</isOfficer>
        <isTenPercentOwner>0</isTenPercentOwner>
        <isOther>0</isOther>
        <officerTitle>General Counsel &amp; Corp Sec</officerTitle>
    </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Common Stock</value>
        </securityTitle>
        <transactionDate>
            <value>2003-05-15</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>3604.00</value>
            </transactionShares>
            <transactionValue>
                <value>0.00</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>7565.68</value>
                <footnoteId id="F1"/>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Option (Right to Buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>28.09</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-15</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>4136.00</value>
            </transactionShares>
            <transactionValue>
                <value>28.09</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2004-05-15</value>
        </exerciseDate>
        <expirationDate>
            <value>2013-05-15</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>4136.00</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>4136.00</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Option (Right to Buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>28.09</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-15</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>4136.00</value>
            </transactionShares>
            <transactionValue>
                <value>28.09</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2005-05-15</value>
        </exerciseDate>
        <expirationDate>
            <value>2013-05-15</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>4136.00</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>4136.00</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Option (Right to Buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>28.09</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-15</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>4136.00</value>
            </transactionShares>
            <transactionValue>
                <value>28.09</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2006-05-15</value>
        </exerciseDate>
        <expirationDate>
            <value>2013-05-15</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>4136.00</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>4136.00</value>
                <footnoteId id="F2"/>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <footnotes>
        <footnote id="F1">Mr. Steven Helmers is deemed to have indirect ownership of 150 shares by Custodian for Child and 115 shares by Trust of Black Hills Corp common stock.</footnote>
        <footnote id="F2">Mr. Steven Helmers directly owns 29,110 shares of Black Hills Corp common stock through the derivative security of Option (Right to Buy) with various exercisable and expiration dates as previously reported.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Roxann R. Basham by power of attorney</signatureName>
        <signatureDate>2003-05-19</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
