MDU Resources Expects Delay In Marketing Fidelity Exploration Business

(RTTNews) - MDU Resources Group, Inc. (MDU) said Friday that owing to sharp fall in oil prices, it will delay marketing of Fidelity Exploration & Production business.

David Goodin, president and CEO of MDU Resources said the company is nearing completion of the data room and other preparatory work and will be prepared to expedite the process when the time is right.

The company said cost of Dakota Prairie Refining facility to be more than $400 million. It plans to begin commercial production of diesel fuel and other products in the second quarter of 2015, though it had expected to begin production by Dec. 31, 2014. MDU noted that the delay is due to severe winter weather in November and late revisions to electrical systems and controls.