Goodin

Bismarck, ND-based MDU Resources Group on Tuesday outlined a five-year capital spending plan in which it plans to spend more than $2.6 billion, mostly in its electric and natural gas utilities, and in midstream pipelines.

Bismarck, ND-based MDU Resources Group said it expects to sell its exploration and production (E&P) business by the end of this year. CEO David Goodin previously had said that Fidelity E&P Co. was going to be sold, but the sharp crude oil price drop late last year caused him to postpone putting it on the market at the time (see Shale Daily,Feb. 5).

MDU Resources Group will continue to narrow its focus to utilities, midstream and construction businesses while preparing to sell its exploration and production (E&P) unit, CEO Dave Goodin said earlier this month.

MDU Resources Group will continue to narrow its focus to utilities, midstream and construction businesses while preparing to sell its exploration and production (E&P) unit, CEO Dave Goodin said earlier this month.

Bismarck, ND-based MDU Resources Group Inc. plans to keep Fidelity E&P Co., the exploration and production (E&P) unit, off the sales block this year and instead plans to work to strengthen its value, CEO David Goodin said.

While continuing to cash in on the robust oil and natural growth in its home-based Bakken Shale play, Bismarck, ND-based MDU Resources Group’s exploration/production (E&P) unit looks to expand elsewhere with its increased activity in Utah’s Paradox Basin and an as-yet-unspecified third major oil play.