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MDU Resources Holding Off on Fidelity E&P Sale
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MDU Resources Group, Inc. has reported that it will delay plans to market its Fidelity Exploration & Production business because of the sharp decline in oil prices.
David L. Goodin, president and CEO of MDU Resources, commented: "We believe marketing Fidelity is the right strategic decision for the company and our shareholders, but it makes sense to delay our plans in light of the recent volatility of oil prices. We are nearing completion of the data room and other preparatory work that will be necessary, so we will be prepared to expedite the process when we believe the time is right."
The company also announced that it expects the Dakota Prairie Refining facility, which it is developing in conjunction with Calumet Specialty Products Partners, L.P., to begin commercial production of…
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