The Bakken lease purchase includes approximately 40,000 net acres with the Three Forks play as the primary target. The acquired leases have three to five year primary terms and increase the company’s acreage position in the Bakken to approximately 56,000 net acres.
In the Niobrara oil shale play, the company has signed an agreement to acquire approximately 27,000 net acres with five-year primary lease terms.
Terry Hildestad, president and CEO of MDU Resources, said: “These lease purchases broaden our position in the Rocky Mountain region and provide long term growth potential in two exciting oil plays.”
Fidelity also continues to look for other development opportunities throughout the Rocky Mountain Region to augment its reserves and production.
