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Wednesday, June 3, 2015

Entirely Unexpected? Not. -- MDU's Fidelity Back Up For Sale -- June, 3, 2015

From The Bismarck Tribune:
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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