Key Developments: Westmoreland Coal Co (WLB.OQ)

WLB.OQ on NASDAQ Stock Exchange Global Market

2 Jul 2015
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Latest Key Developments (Source: Significant Developments)

Westmoreland Coal Co's board approves purchase agreement for San Juan mine
Tuesday, 23 Jun 2015 07:00am EDT 

Westmoreland Coal Co:Board approves purchase agreement for San Juan mine.Board taken all steps necessary to purchase the San Juan mine in Farmington, New Mexico from BHP Billiton.Will execute coal supply agreement with public service of New Mexico by July 1.Says acquisition, which is expected to close on Dec. 31, contemplates a coal supply agreement through June 30, 2022.  Full Article

Westmoreland announces agreement to contribute Kemmerer Mine to Westmoreland Resource Partners
Tuesday, 2 Jun 2015 09:05am EDT 

Westmoreland:Announces agreement to contribute kemmerer mine to Westmoreland Resource Partners LP.Westmoreland Resource Partners agreed to acquire 100% of the outstanding equity interests in Westmoreland Kemmerer LLC, which owns and operates the Kemmerer Mine in Wyoming.Westmoreland to receive $135 million of cash, $20 million of wmlp common units, and $75 million of new wmlp class a convertible units.Acquisition expected to be immediately accretive to distributable cash flow on a per unit basis to wmlp.Says kemmerer will operate as a wholly-owned subsidiary of wmlp.Wmlp agreed to acquire 100% outstanding equity interests in Westmoreland kemmerer, which owns and operates kemmerer mine in Wyoming.Says transaction was approved by board of general partner of wmlp and by conflicts committee of the board of directors.  Full Article

Westmoreland Coal Co enters into arrangement with Regard to Obed Mountain Mine
Tuesday, 12 May 2015 07:00am EDT 

Westmoreland Coal Co:Entered into an agreement with Athabasca Minerals Inc that will result in the production of aggregate from Westmoreland's Obed Mountain Mine site.Key highlights of the agreement include Athabasca purchasing the Obed rail transloading facility and royalty payments to Westmoreland for all gravel, sand and frac sand produced from the Obed Mountain Mine site.The deal is expected to close by the fourth quarter of 2015.  Full Article

Westmoreland Coal Co gives FY 2015 production outlook; EBITDA outlook below analysts' estimates
Wednesday, 11 Feb 2015 07:00am EST 

Westmoreland Coal Co:Expects FY 2015 production to be between 56.0 and 60.0 mln tons.Expects FY 2015 consolidated adjusted EBITDA to be between $235.0 and $270.0 mln.FY 2015 EBITDA of $272.5 mln - Thomson Reuters I/B/E/S.  Full Article

Westmoreland Coal Company reaffirms FY 2014 EBITDA guidance
Thursday, 29 Jan 2015 07:00am EST 

Westmoreland Coal Company:Expects FY 2014 adjusted EBITDA to be in the $173.0-$176.0 mln.These results fall within Westmoreland's previously issued and subsequently reiterated fiscal year 2014 guidance.  Full Article

Westmoreland Coal Co announces $75 mln upsize of term loan
Tuesday, 27 Jan 2015 09:53am EST 

Westmoreland Coal Co:Says effective as of Jan. 22 it has amended its term loan credit agreement with Bank of Montreal, as administrative agent.To increase Westmoreland's term loan by $75 mln, for an aggregate principal term loan amount of $425 mln.Says amendments to credit agreement were made in connection with Westmoreland's recently completed acquisition of Buckingham Coal Company LLC.And further provide that additional $75 mln term loan will be governed by terms and conditions as credit agreement.  Full Article

Westmoreland Coal Company announces partnership with Trafigura
Tuesday, 9 Dec 2014 12:49pm EST 

Westmoreland Coal Company:Enters into a Coal Services Agreement with Trafigura AG under which Trafigura will exclusively market certain tons of export thermal coal from Westmoreland's Coal Valley Mine in Alberta, Canada.  Full Article

Westmoreland Coal Company declares dividend on preferred stock
Friday, 5 Dec 2014 11:00am EST 

Westmoreland Coal Company:Declares a dividend of $.53125 per depositary share.Payable on Jan. 01, 2015 to holders of record as of Dec. 19.  Full Article

Westmoreland and FMC Corp ink long-term coal supply agreement extension
Wednesday, 5 Nov 2014 10:00am EST 

Westmoreland Coal co:Signs a long-term supply agreement with FMC Corp from the Kemmerer Mine for FMC's Westvaco and Granger operations.New agreement replaces two existing contracts that were set to terminate in 2016 and 2021.Agreements extend the contracts through 2026.  Full Article

Westmoreland Coal Company enters MLP Space
Thursday, 16 Oct 2014 04:32pm EDT 

Westmoreland Coal Company:Acquires Oxford GP and contribute certain royalty bearing coal reserves to Oxford in return for Oxford common units.Enters into a purchase agreement with AIM Oxford Holdings, LLC (AIM), C&T Coal, Inc. (C&T), certain present and former executives, and affiliates of Oxford's existing second lien term loan lenders (such parties, Warrantholders).Under the purchase agreement, Westmoreland will acquire 100 pct of the outstanding units of Oxford GP, the general partner of Oxford.Acquires from AIM, C&T and such executives, 100 pct of outstanding GP unit warrants from the Warrantholders, 100 pct of the outstanding subordinated units of Oxford from AIM and C&T, and 100% of the outstanding subordinated unit warrants of Oxford from the Warrantholders.Says cash purchase price for these interests is $30.0 mln, plus an additional $3.5 mln if a specified coal acquisition is consummated within one year of the date of the purchase agreement.Following these transactions, Oxford will continue to operate as a stand-alone, publicly-traded master limited partnership (MLP) and Westmoreland will own 77 pct of the fully-diluted limited partner interests in Oxford.Says As part of the transactions, the parties will take the necessary steps to change the name of Oxford to Westmoreland Resource Partners, LP (Westmoreland LP) and to change the name of Oxford GP to Westmoreland Resources GP, LLC.  Full Article

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