Natural Resource Partners repays $75 million term loan via revolver

By Wendy Van Sickle

Columbus, Ohio, Nov. 5 – Natural Resource Partners LP fully repaid the remaining $75 million under its term loan during September using borrowings under its revolving credit facility, according to a press release announcing the company’s results for the third quarter ended Sept. 30.

So far this year, $40 million has also been repaid under company subsidiary NRP Oil and Gas LLC’s revolving credit facility, including $15 million that was repaid after Sept. 30, according to the release. A total of $85 million is outstanding under that revolver.

The repayments are part of the company’s strategic plan outlined in April.

“We believe the actions taken this year will better position the partnership to navigate this difficult commodity price period and become a stronger company for the future,” Wyatt Hogan, president and chief operating officer, said in the release.

Natural Resource is a Houston-based company that owns, manages and leases mineral properties in the United States and owns coal reserves in three major coal-producing regions: Appalachia, the Illinois Basin and the Western United States.

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