Upon closing, the transaction will increase
ARLP's presence in the Permian Basin through the addition of approximately 9,000 net royalty acres in the Midland Basin, with exposure to more than 400,000 gross acres.
ARLP currently operates eight mining complexes in Illinois, Indiana, Kentucky, Maryland and West Virginia as well as a coal-loading terminal on the Ohio River at Mount Vernon, Indiana.
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"We are saddened that production will be ending at the Dotiki Mine, which was opened in 1969 and is the oldest mine operated by
ARLP."
ARLP does not expect this action to have any impact on its previously announced earnings guidance provided in its July 26 Press Release, including 2019 full-year ranges for coal production of 40.8 to 42.3 million tons and coal sales volumes of 40.8 to 42.4 million tons.
(NASDAQ:
ARLP) has closed the acquisition of the general partner interests in Texas, US-based mining group AllDale Minerals, LP and AllDale Minerals II, LP and all limited partner interests in AllDale not currently owned by
ARLP's affiliate, North Carolina, US-based coal mining group Cavalier Minerals JV, LLC, the company said.
ARLP also operates a coal loading terminal on the Ohio River at Mount Vernon, Indiana.