Central Appalachia coal recovery lags other areas for NRP - Beckley, Bluefield & Lewisburg News, Weather, Sports

Central Appalachia coal recovery lags other areas for NRP

Posted: Updated:
  • Local NewsLocal NewsMore>>

  • Officers In Tazewell County Work To Keep Your Holiday Travel Safe

    Officers In Tazewell County Work To Keep Your Holiday Travel Safe

    Monday, September 1 2014 6:50 PM EDT2014-09-01 22:50:12 GMT
    Police patrolling the roads this Labor DayPolice patrolling the roads this Labor Day
    According to AAA, 34.7 million people are expected to hit the road this Labor Day. Many police officers are out in force to keep you safe.
    According to AAA, 34.7 million people are expected to hit the road this Labor Day. Many police officers are out in force to keep you safe.
  • After fatal McDowell County crash, Troopers caution against drinking and driving over Holiday Weekend

    After fatal McDowell County crash, Troopers caution against drinking and driving over Holiday Weekend

    Monday, September 1 2014 6:00 PM EDT2014-09-01 22:00:38 GMT
    While many are safely celebrating Labor Day, State Troopers want to caution everyone about the dangers of drinking and driving.The West Virginia Department of Transportation says over the last 5 years in the Mountain State, almost 800 people have been killed in a drink driving crash just during Labor Day Weekend. Troopers released these pictures from Sunday morning's fatal crash to show the consequences drinking and driving can have.Read full story on Sunday morning's fatal crash in McDowell ...
    While many are safely celebrating Labor Day, State Troopers want to caution everyone about the dangers of drinking and driving.The West Virginia Department of Transportation says over the last 5 years in the Mountain State, almost 800 people have been killed in a drink driving crash just during Labor Day Weekend. Troopers released these pictures from Sunday morning's fatal crash to show the consequences drinking and driving can have.Read full story on Sunday morning's fatal crash in McDowell ...
  • Update: New Information Released in Raleigh County Murder Investigation

    Update: New Information Released in Raleigh County Murder Investigation

    Monday, September 1 2014 5:33 PM EDT2014-09-01 21:33:21 GMT
    Joe Collins is arrested on murder chargesJoe Collins is arrested on murder charges
    The Raleigh County Sheriffs Office made an arrest Sunday after a man was murdered in Glen White.Joe Collins was arrested and is being charged with 1st degree murder for the shooting and killing of Larry Totten.The incident occurred Sunday morning at Mr. Tottens residence.
    The Raleigh County Sheriffs Office made an arrest Sunday after a man was murdered in Glen White.Joe Collins was arrested and is being charged with 1st degree murder for the shooting and killing of Larry Totten.The incident occurred Sunday morning at Mr. Tottens residence.
  • EnergyEnergyMore>>

  • UMWA endorses Tennant at annual Labor Day Celebration in Racine, WV

    UMWA endorses Tennant at annual Labor Day Celebration in Racine, WV

    Monday, September 1 2014 3:49 PM EDT2014-09-01 19:49:35 GMT
    United Mine Workers of America will feature food, entertainment and presentations by political and labor leaders at its 76th Annual Labor Day Celebration in Boone County on Sept. 1.
    United Mine Workers of America will feature food, entertainment and presentations by political and labor leaders at its 76th Annual Labor Day Celebration in Boone County on Sept. 1.
  • Feds want nuclear waste train, but nowhere to go

    Feds want nuclear waste train, but nowhere to go

    Monday, September 1 2014 12:11 PM EDT2014-09-01 16:11:52 GMT
    The tracks were supposed to lead to a depository at Yucca Mountain in Nevada, where Congress intended to send radioactive fuel. Instead, the Obama administration cancelled a project that had been criticized as inadequate and opposed by many Nevadans.
    The tracks were supposed to lead to a depository at Yucca Mountain in Nevada, where Congress intended to send radioactive fuel. Instead, the Obama administration cancelled a project that had been criticized as inadequate and opposed by many Nevadans.
  • WV workforce lacks oil and gas expertise — for now

    WV workforce lacks oil and gas expertise — for now

    Sunday, August 31 2014 5:00 PM EDT2014-08-31 21:00:19 GMT
    Despite the relatively high amount of natural gas production in West Virginia, less than 3 percent of employees in some of the major occupations that make up the sector's workforce live in the Mountain State.
    Despite the relatively high amount of natural gas production in West Virginia, less than 3 percent of employees in some of the major occupations that make up the sector's workforce live in the Mountain State.

HUNTINGTON, WV — Natural Resource Partners L.P. sees a comeback for coal in the Powder River and Illinois basins, but less of one for Central Appalachia.

The company, which is based in Houston and has operational headquarters in Huntington, released its first-quarter earnings on May 6. According to the report filed with the Securities and Exchange Commission, NRP had net income of $46.9 million on revenues of $94.3 million in the quarter, compared with income of $50.3 million on revenues of $91.9 million a year ago.

Natural Resource Partners L.P. is a master limited partnership that is principally engaged in the business of owning and managing mineral reserve properties. NRP primarily owns coal, aggregate and oil and gas reserves across the United States that generate royalty income for the partnership.

"Our first quarter results were in line with our expectations. As we entered 2013, we anticipated that our efforts to diversify through our investments in OCI Wyoming's trona mining operation and in the Illinois Basin would help mitigate the soft Appalachian coal market in early 2013," Nick Carter, president and CEO, said in the report filed with the SEC. "We anticipate slight improvements in the coal markets occurring in the second half of the year."

While coal production increased 14 percent to 13.8 million tons in the first quarter 2013 versus the same quarter last year, coal royalty revenues decreased 9 percent to $54.4 million due to a 20 percent decrease in average coal royalty revenue per ton. The company attributed the decrease to lower realizations in Central Appalachia for both metallurgical coal and steam coal.

Production increases in all other regions except Central Appalachia more than offset the production decline in Central Appalachia. Average coal royalty revenue per ton is lower in all other regions except for Northern Appalachia and the Illinois Basin. Metallurgical coal accounted for 27 percent of NRP's production and 39 percent of its coal royalty revenues in the first quarter of 2013 compared to 30 percent of production and 45 percent of coal royalty revenues in the first quarter of 2012.

"Many of our lessees have indicated that they are beginning to see a slight improvement in the steam coal market due to recent increases in natural gas prices and longer than usual winter weather conditions in some parts of the country. Our Central Appalachian steam coal will be the last to benefit from rising natural gas prices but the Powder River Basin and Illinois Basin coals are already in the money at many power plants where they had been displaced by cheap gas just a few months ago. Certainly none of our lessees are rushing to reopen mines at today's prices but any movement in the market is encouraging," Carter said.