Natural Resource Partners L.P., Houston, reported the acquisition of an overriding royalty interest in frac sand reserves located on approximately 561 acres near Wyeville, Wis.,for a purchase price of $15 million. The acquisition was funded from NRP's credit facility.
The premium Northern White sand reserves are currently being mined, processed, and sold under long-term contracts and will immediately generate income for NRP. The reserves, with an estimated reserve life exceeding 30 years, are strategically located, and the production facility has logistics capabilities enabling the facility to serve all major U.S. oil and natural gas producing basins, particularly the Bakken.
Natural Resource Partners L.P. is a master limited partnership headquartered in Houston, with its operations headquarters in Huntington, W.Va. 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.