Natural Resource Partners to Sell Portion of Oil and Gas Mineral Rights for $47.5 Million

Published: February 18, 2016 |

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Natural Resource Partners L.P. (NRP) has signed a definitive agreement to sell a portion of its oil and gas mineral rights and has closed a transaction to sell certain of its aggregates mineral rights for combined proceeds of $47.5 million before transaction expenses. The assets being sold generated $3.4 million of royalty revenues in 2015. The closing of the oil and gas sale is expected to occur by the end of February and is subject to customary closing conditions. NRP intends to use the proceeds from the combined sales to pay down debt. The asset sales are a continuation of NRP’s ongoing deleveraging strategy and NRP will continue to evaluate other opportunities to monetize assets and reduce leverage. The assets being sold do not include NRP’s non-operated Bakken interests or the VantaCore aggregates operations.

About Natural Resource Partners
Natural Resource Partners L.P. is a master limited partnership headquartered in Houston, Texas. NRP is a diversified natural resource company that owns interests in oil and gas, coal, aggregates, and industrial minerals across the United States. A large percentage of NRP’s revenues are generated from royalties and other passive income. In addition, NRP owns an equity investment in Ciner Wyoming, a trona/soda ash operation, owns non-operated working interests in oil and gas properties, and owns VantaCore, making NRP one of the top 25 aggregates producers in the United States.

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