Natural Resource Partners lifts borrowing base under secured revolver

By Marisa Wong

Madison, Wis., Dec. 20 - Natural Resource Partners LP's wholly owned subsidiary, NRP Oil and Gas LLC, amended its $100 million five-year senior secured revolving credit facility with Wells Fargo Bank, NA as administrative agent and Wells Fargo Securities, LLC as bookrunner and lead arranger on Dec. 19, according to an 8-K filing with the Securities and Exchange Commission.

The amendment increases the borrowing base under the credit facility to $16 million from $8 million and amends the existing reserve-based revolving credit facility to provide for NRP's acquisition of non-operated working interests in North Dakota from Sundance Energy, Inc.

As of Dec. 19, NRP did not have any borrowings outstanding under the credit facility and had the full $16 million available for borrowing.

The Houston-based master limited partnership principally engages in owning and managing mineral reserve properties, primarily coal, aggregate and oil and gas reserves.

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