From the PR Newswire on Dec. 20:
HOUSTON -- Natural Resource Partners L.P. (NYSE: NRP) today reported that it has acquired overriding royalty interests in Pennsylvania's Marcellus Shale for $30.3 million. The acquisition was funded through the partnership's credit facility.
The acquisition is on approximately 88,000 net acres located mainly in the liquids rich region of the Marcellus Shale. The acreage is currently leased and includes established production as well as significant additional planned development potential.
This acquisition continues to diversify NRP's revenues and expand NRP's unconventional oil and gas holdings, which currently include assets located primarily in the Marcellus Shale, Mississippi Lime, and Haynesville Shale plays.
Natural Resource Partners L.P. is a master limited partnership headquartered in Houston, TX, with its operations headquarters in Huntington, WV. NRP is principally engaged in the business of owning and managing mineral reserve properties. NRP primarily owns coal, aggregate and oil and gas reserves across the United States that generate royalty income for the partnership.