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April 24, 2015 10:07 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Fidelity Exploration & Production Company

Company Overview

Fidelity Exploration & Production Company is involved in the acquisition, exploration, development, and production of oil and natural gas resources. Its activities include the acquisition of producing properties and leaseholds with potential development opportunities, exploratory drilling, and the operation and development of oil and natural gas production properties. The company’s business is focused in the Rocky Mountain region and Mid-Continent/Gulf states. Fidelity Exploration & Production Company was formerly known as Fidelity Oil Group, Inc. and changed its name to Fidelity Exploration & Production Company in August 1999. The company was founded in 1930 and is based in Denver, Colorado...

1700 Lincoln Street

Suite 2800

Denver, CO 80203

United States

Founded in 1930

Phone:

303-893-3133

Fax:

303-893-1964

Key Executives for Fidelity Exploration & Production Company

Chief Executive Officer and President
Age: 52
Chief Financial Officer
Vice President of Operations and Development
Chief Executive Officer of MDU Resources and President of MDU Resources
Age: 65
Director of Financial Reporting and Accounting
Compensation as of Fiscal Year 2014.

Fidelity Exploration & Production Company Key Developments

Fidelity Exploration & Production Company Announces Executive Changes

MDU Resources Group Inc. announced that Pat O'Bryan will become Chief Executive Officer of its Fidelity Exploration & Production Company, effective March 1, 2015. He also will retain his current position as President. He succeeds J. Kent Wells, who has announced that he will retire on February 28 from his positions as Fidelity CEO.

MDU Delays Sale Of Fidelity Exploration & Production

MDU Resources Group Inc. (NYSE:MDU) is postponing its plan to sell stake in Fidelity Exploration & Production Company due to the ongoing slump in US oil prices. Chief Executive, David Goodin said, “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.” The official added, “Although we continue to see attractive investment opportunities at Fidelity, the capital required to effectively grow the business would compromise our ability to fund the substantial opportunities we are seeing at our other lines of business.”

Fidelity Exploration & Production Up For Sale

MDU Resources Group Inc. (NYSE:MDU) has plans to sell of its Fidelity exploration & production business. MDU Resources Group is pursuing the sale of its upstream operations and will invest in its utility, pipeline and construction businesses.

Similar Private Companies By Industry

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 21, 2014
Fidelity Exploration & Production, Certain Oil and Natural Gas Properties in Mountrail County
 

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