UNITED STATES

SECURITIES AND EXCHANGE

COMMISSION

WASHINGTON, DC 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (date of earliest event reported): December 20, 2017

 

 

FORESIGHT ENERGY LP

(Exact Name of Registrant as Specified in Charter)

 

 

Delaware

 

001-36503

 

80-0778894

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

211 North Broadway

Suite 2600

Saint Louis, MO

 

 

 

63102

(Address of Principal Executive Offices)

 

 

 

(Zip Code)

 

Registrant’s telephone number, including area code: (314) 932-6160

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (( § 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 ( § 240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  

 


 

Item  2 .0 6

Material Impairments

 

On December 20, 2017, the Board of Directors of Foresight Energy GP LLC, the general partner of Foresight Energy LP (the “Partnership”), approved the submission of a re-entry plan to the Mine Safety and Health Administration (MSHA) for the Deer Run Mine at the Partnership’s Hillsboro Energy complex.  The re-entry submission contains a plan for the permanent sealing of the current longwall district of the Deer Run Mine immediately upon MSHA’s approval.  At this time, the Partnership is uncertain as to when production will resume at its Deer Run Mine.

 

In connection with the proposed re-entry plan, certain longwall equipment and other related assets will be permanently sealed within or may not be recovered from the Deer Run Mine.  As such, the Partnership expects to record an aggregate impairment charge between $42 million and $67 million in the fourth quarter of 2017.  The impairment charge represents the estimated net book value of the certain longwall equipment and other related assets as of December 2017.  The Partnership expects the permanent sealing of the current longwall district to result in future cash expenditures between $0.8 million and $1.5 million.

 

Forward-Looking Statements

 

This Form 8-K c o n ta i n s, and oral statements made from time to time by our representatives may contain, f o r w a rd - l oo k i n g s tate m e n ts w it h in t h e m ea n i n g o f t h e f e d e r al s ec u r ities la w s .  T h e s e s tate m e n ts include, without limitation statements regarding the operations at our Deer Run Mine and other statements that c on tain w ord s s u ch as po s s i b le , i n t e n d, w i l l , i f a n d e x p ect” a n d actual results can b e i m p acted b y nu m e ro u s f act or s , i n cl u d i n g operation r i s k s r elati n g to t h e s ec u r ities m ar k et s , t h e i m p act o f a d v e r s e m ar k et c o n d iti o n s a f f ecti n g bu s i n e s s o f t h e P a r t n e r sh i p , a d v e r s e c h a n g es i n la w s i n cl u d i n g w i t h r e s p ect to tax a n d r e g u la t or y m atte r s a n d o t h er r i s k s .  T h e r e can b e n o a ssu r a n ce t h at act u al r e s u lts w i ll n o t d i ff er f ro m t h o s e e x p ected b y m a n a g e m e n t o f t h e P a r t n e r sh i p .  K n o w n m ate r ial f act or s t h at c o u ld ca us e act u al r e su l ts to d i f f er f r o m t h o s e in t h e f o r w a r d - l o o k i n g s tate m e n t s a r e d e s c r i b ed in P a r t I , I tem 1 A .   R i s k Fact or s o f t h e P a r t n e r s h i p s A n n u al R e por t o n F or m 10 - K f iled o n Ma r ch  1 2 0 17.   T h e P a r t n e r sh ip u n d e r ta k es n o ob li g ati o n to u pd ate o r r e v i s e su ch f o r w a rd - l oo k i n g s tate m e n ts to r e f lect e v e n ts o r ci r c um s ta n ces t h at o cc u r , o r w h ich t h e P a r t n e r s h i p b ec o m es a w a r e o f , a f ter t h e d ate h e r e o f .

 

 


 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

Foresight Energy LP

 

 

By:

 

Foresight Energy GP LLC,

 

 

its general partner

 

 

By:

 

/s/ Robert D. Moore

 

 

Robert D. Moore

 

 

President, Chairman and Chief Executive Officer

 

 

Date: December 22, 2017

 

 

 

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