Fidelity Exploration & Production Company, an oil production
company owned by MDU Resources Group Inc., is up for sale again.
MDU
had taken Fidelity off the market when crude oil prices dropped at the
end of last year with the intention of selling it when higher prices
returned. The company plans to use the money from the sale to pay for
investments at its other subsidiaries.
“After a thorough review,
we concluded the timing was appropriate to move forward with the
marketing and sale process,” CEO Dave Goodin said in a statement.
The
company's five-year, $3.9 billion capital investment program includes
investments in its utility, pipeline and energy services and
construction businesses.
MDU's Dakota Prairie refinery also started selling diesel products May 15.
Entirely unexpected? Not really, but it was all I could find for the segue:
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