Alliance Resource to use credit facility borrowings for acquisition

By Sara Rosenberg

New York, June 24 – Alliance Resource Partners LP plans on using borrowings under its credit facility and cash on hand to fund the $145 million purchase of oil and gas mineral interests from Wing Resources LLC and Wing Resources II LLC, according to a news release.

Closing is expected in early August with an effective date of May 1, 2019.

Alliance Resource is a Tulsa, Okla.-based diversified natural resource company that generates income from coal production and oil and gas mineral interests.

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