Alliance Resource Partners completes $206.2 million acquisition
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- Alliance Resource Partners finalized the purchase of certain oil and gas royalty interests for $206.2 million.
- The transaction was funded using existing cash, credit facilities, and a new $150 million term loan.
- The company stated that the deal expands its oil and gas footprint to 115,680 net royalty acres.
Alliance Resource Partners (NASDAQ:ARLP) completed its $206.2 million acquisition of oil and gas mineral interests to expand its portfolio.
The transaction involves acquiring certain general and limited partner interests in AllDale Minerals III and IV.
Following the closing, the partnership now controls approximately 115,680 net royalty acres within its royalty segment.
This newly expanded position includes more than 44,770 net royalty acres located in the Permian Basin.
The partnership operates as a diversified energy business generating steady revenues from domestic coal production platforms.
The company stated that it expects to provide additional operational commentary during its next quarterly conference call.
