Key Developments: Natural Resource Partners LP (NRP)
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19 Jun 2013
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$16.90
Latest Key Developments (Source: Significant Developments)
Natural Resource Partners LP Announces Agreement to Purchase Bakken Oil and Gas Assets
Natural Resource Partners LP announced that it has entered into a definitive agreement to purchase non-operated working interests in producing oil and gas properties located in the Bakken/Three Forks play, located in the Williston Basin of North Dakota and Montana from Abraxas Petroleum Corporation for approximately $35.3 million in cash. The acquisition will have an effective date of March 1, 2013. The acquisition consists of approximately 13,500 net acres that are held by production with an estimated average working interest of 11% in the Bakken/Three Forks play. The acquisition includes approximately 120 producing wells in addition to interests in 22 wells that are in various stages of development. NRP anticipates funding $8.1 million in additional capital expenditures associated with these new wells in 2013, a portion of which will be paid at closing. NRP expects the acquisition to close in the third quarter of 2013 and to be immediately accretive to NRP's unitholders. Full Article
Natural Resource Partners LP Declares Quarterly Distribution
Natural Resource Partners LP announced that the Board of Directors of its general partner has declared a first quarter 2013 distribution of $0.55 per unit for NRP. The distribution will be paid on May 14, 2013 to unitholders of record on May 6, 2013. Full Article
Natural Resource Partners LP Issues FY 2013 Guidance; Revenue Guidance Below Analysts' Estimates
Natural Resource Partners LP announced that for fiscal 2013, it expects total revenues to be in the range of $ 330.0 - $ 375.0 million and net income per unit to be in the range of $ 1.60 - $ 1.80. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $386 million and EPS of $1.79 for fiscal 2013. Full Article
Natural Resource Partners LP Acquires Interest In Trona Operations And 20% Of Common Shares And All Of Preferred Shares Of OCI Wyoming Co
Natural Resource Partners LP announced that it has acquired a 48.51% general partner interest in OCI Wyoming L.P. and 20% of the common shares and all of the preferred shares of OCI Wyoming Co. from subsidiaries of Anadarko Petroleum Corporation . NRP paid a net $292.5 million for the interests, after normal closing adjustments to the purchase price of $310 million. The agreement also contains an earn-out provision, which would require NRP to pay Anadarko up to $50 million, on a net present value basis, over a three-year period if OCI Wyoming L.P. achieves specified revenue targets during that period. The acquisition was funded through a $200 million term loan, the issuance of $76.5 million in equity, including a general partner contribution of $1.5 million, and $16 million in cash. OCI Wyoming is a producer of soda ash. It operates a trona ore mining operation and a soda ash refinery in Green River, Wyoming. Trona ore is a naturally occurring form of soda ash, which is used worldwide in manufacturing a variety of consumer products, primarily including glass, chemicals, soap and paper. World demand for soda ash has been growing for the past three decades, driven particularly by Asia. Full Article
Natural Resource Partners LP Declares Quarterly Distribution
Natural Resource Partners LP announced that Board of Directors of its general partner has declared a fourth quarter 2012 distribution of $0.55 per unit for NRP. The distribution will be paid on February 14, 2013 to unitholders of record on February 5, 2013. Full Article
Natural Resource Partners LP Acquires Marcellus Oil And Gas Interests
Natural Resource Partners LP announced that it has acquired overriding royalty interests in the Marcellus Shale for $30.3 million . The acquisition was funded through the partnership's credit facility. The acquisition is on approximately 88,000 net acres located mainly in the liquids rich region of the Marcellus Shale. The acreage is currently leased and includes established production as well as significant additional planned development potential. This acquisition continues to diversify NRP's revenues and expand NRP's unconventional oil and gas holdings, which currently include assets located primarily in the Marcellus Shale, Mississippi Lime, and Haynesville Shale plays. Full Article
Natural Resource Partners LP Acquires Wisconsin Frac Sand Royalty
Natural Resource Partners LP announced the acquisition of an overriding royalty interest in frac sand reserves located on approximately 561 acres near Wyeville, Wisconsin for a purchase price of $15.0 million. The acquisition was funded from NRP's credit facility. Full Article
Natural Resource Partners LP Declares Quarterly Distribution
Natural Resource Partners LP announced that the Board of Directors of its general partner has declared a third quarter 2012 distribution of $0.55 per unit for NRP. The distribution will be paid on November 14, 2012 to unitholders of record on November 5, 2012. Full Article
Natural Resource Partners LP Completes Final Acquisition Of Coal Reserves At Deer Run Mine In Illinois Basin From Colt LLC
Natural Resource Partners announced that it has completed the final acquisition of coal reserves at the Deer Run mine near Hillsboro, Illinois for $40 million from Colt LLC, an affiliate of the Cline Group. The acquisition was funded through the partnership's credit facility. With this final acquisition, NRP has now completed the $255 million acquisition of approximately 200 million tons of reserves related to the Deer Run mine. The Deer Run mine is capable of producing approximately 7 million to 9 million tons annually once the longwall is at full production. Full Article
Natural Resource Partners L.P. Narrows FY 2012 Revenue Guidance To A Range In Line With Analysts' Estimates
Natural Resource Partners L.P. announced that for fiscal 2012, it expects revenue to be in the range of $340-$365 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $356 million for fiscal 2012. Full Article
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