Subsequent event

6 Months Ended

Jun. 30, 2014

Subsequent Events [Abstract]

Subsequent events [Text Block]

Subsequent Events

The Company entered into a $150.0 million note purchase agreement on January 28, 2014. On April 15, 2014, the Company issued $50.0 million of Senior Notes with a due date of April 15, 2044, at an interest rate of 5.2 percent. The remaining $100.0 million of Senior Notes was issued on July 15, 2014, with due dates ranging from July 15, 2024 to July 15, 2026, at a weighted average interest rate of 4.3 percent.

Fidelity entered into a purchase and sale agreement on July 17, 2014, to sell certain oil and natural gas properties in Mountrail County, North Dakota for a sale price of approximately $200.0 million, subject to accounting and purchase price adjustments customary with dispositions of this type. The effective date of the disposition is May 1, 2014, with the expected closing date to occur on or before September 30, 2014, conditioned upon the buyer completing a due diligence process, including environmental reviews, and both parties satisfying other standard closing conditions.