HOUSTON, Nov. 13, 2014 /PRNewswire/ -- Natural
Resource Partners L.P. (NYSE:NRP) today reported that it has
completed the acquisition of non-operated working interests in oil
and gas properties in the Bakken/Three Forks play of the
Williston Basin from an affiliate
of Kaiser-Francis Oil Company for $339
million, subject to customary post-closing
adjustments. The assets, located in the Sanish Field in
Mountrail County, North Dakota,
are all held by production and operated by Whiting Petroleum
Corporation.
The transaction was funded with proceeds from both debt and
equity capital market transactions completed in October and through
borrowings from NRP Oil and Gas's upsized credit facility. In
conjunction with the closing of the transaction, the borrowing base
under that credit facility was increased to $137 million.
Company Profile
Natural Resource Partners L.P. ("NRP") is a master limited
partnership headquartered in Houston, TX. 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 OCI 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.
For additional information, please contact Kathy H. Roberts at 713-751-7555 or
kroberts@nrplp.com. Further information about NRP is
available on the partnership's website at http://www.nrplp.com.
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SOURCE Natural Resource Partners L.P.