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Fidelity Exploration; Unable To Find a Buyer For Itself; Sells Assets Piecemeal
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Fidelity Exploration Parent, (MDU Resources) reported that the company has entred into Five purchase and sale agreements and closed on one of the agreements in October, for the sale of the oil and natural gas assets it held.
The other four sale agreements are expected to close before year-end.
The aggregate sale proceeds from the five agreements and estimated tax benefits are expected to be approximately $450 million.
MDU Resources intends to use the proceed to pay down debt.
A quick search of Presentation Manager reveals the company core assets.
MDU / Fidelity Exploration
Core Assets
Williston Basin / Bakken (as of March 2015)
Source : Presentation Manager; MDU Resources March 2015 Exploration Presentation
Powder River Basin
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