MDU putting oil production company up for sale again

Associated Press

BISMARCK, N.D. (AP) — An oil production company owned by MDU Resources Group Inc. is up for sale again.

The Bismarck Tribune reports that MDU had taken Fidelity Exploration and Production Co. off the market when crude oil prices dropped at the end of last year, with the intention of selling it when higher prices returned.

CEO Dave Goodin says in a statement that the company concluded "the timing was appropriate to move forward."

MDU plans to use the money from the sale to pay for investments at its other subsidiaries.

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