Penn Virginia Resource Partners Acquires Illinois Basin Coal Reserves in Indiana
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Penn Virginia Resource Partners, L.P. has purchased 26.8 million tons of additional coal reserves in the Illinois Basin. The Oatsville Reserve properties acquired by PVR hold deep minable Springfield V seam coal located on approximately 5,875 acres in Gibson and Pike counties in Indiana. The assets were purchased from Indianapolis Power & Light Company for $13.5 million.
“We are pleased to have the opportunity to add additional Illinois Basin properties to our portfolio of coal reserves,” said William H. Shea, Jr., chief executive officer or PVR. “The Oatsville Reserve assets are located in close proximity to 16 coal-fired power plants and also have good rail and river access. These reserves are very attractive for development, and PVR is currently in discussions with qualified operators to lease the reserves.”
About PVR
Penn Virginia Resource Partners, L.P. is a publicly traded limited partnership, which owns and manages coal and natural resource properties and related assets, and owns and operates midstream natural gas gathering and processing businesses. They own approximately 900 million tons of proven coal reserves in Northern and Central Appalachia, and the Illinois and San Juan Basins; their midstream natural gas assets are located principally in Texas, Oklahoma and Pennsylvania and include more than 4,200 miles of natural gas gathering pipelines and 7 processing systems with approximately 420 million cubic feet per day of capacity.
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