natural resource partners lp (NRP) Snapshot

Natural Resource Partners LP announced that it has entered into a definitive agreement to purchase non-operated working interests in producing oil and gas properties located in the Bakken/Three Forks play, located in the Williston Basin of North Dakota and Montana from Abraxas Petroleum Corporation for approximately $35.3 million in cash. The acquisition will have an effective date of March 1, 2013 and is subject to customary closing conditions and purchase price adjustments.

Natural Resource Partners LP announced unaudited consolidated earnings and production results for the first quarter ended March 31, 2013. For the quarter, the company reported revenues of $94.3 million against $91.9 million a year ago. Net income attributable to the company was $46.9 million or $0.43 per basic and diluted share compared to $50.3 million or $0.47 per basic and diluted share for the first quarter of 2012. Net cash provided by operating activities was $43.9 million against $49.5 million a year ago. Distributable cash flow of $44.5 million, a 10% decrease from first quarter of 2012. Income from operations was $62.5 million against $64.8 million a year ago. For the quarter, the company reported coal production of 13.8 million tons against 12.1 million tons a year ago. For the quarter, the company reported asset impairment of $0.3 million.

Natural Resource Partners L.P. announced that the Board of Directors of its general partner has declared a first quarter 2013 distribution of $0.55 per unit for NRP. The distribution will be paid on May 14, 2013 to unit holders of record on May 6, 2013.