HOUSTON, June 14, 2016 /PRNewswire/ — Natural Resource Partners L.P. (NYSE: NRP) announced that NRP Oil and Gas LLC has signed a definitive agreement with Lime Rock Resources IV-A, L.P. to sell all of its Williston Basin non-operated oil and gas working interest assets for $116.1 million before transaction expenses and customary purchase price adjustments. The closing of the sale is expected to occur by the end of July and is subject to customary closing conditions. NRP intends to use the proceeds to repay the $75 million NRP Oil and Gas revolving credit facility in full and use the remainder to further the partnership’s ongoing deleveraging strategy. The sale of these assets will represent NRP’s exit from the non-operated oil and gas working interest business.
Natural Resource Partners L.P. is a master limited partnership headquartered in Houston, TX. NRP is a diversified natural resource company that owns interests in coal, aggregates, industrial minerals and oil and gas 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 VantaCore, one of the top 25 aggregates producers in the United States and owns non-operated working interests in oil and gas properties.