MDU Resources (MDU) announced that the company has reached an agreement to sell 25% of its acreage position that is prospective for the Niobrara Shale in Wyoming. The company has 88,000 net acres under lease, and the acquisition price was not disclosed.
MDU Resources said that Fidelity Exploration & Production Company, the company’s exploration and production subsidiary, signed the agreement with JD Rockies Resources Limited, a U.S. subsidiary of Itochu Corporation. MDU Resources said that the first Niobrara Shale wells would be drilled in early 2011.
