UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 8, 2013
Rhino Resource Partners LP
(Exact name of registrant as specified in its charter)
Delaware (State or other jurisdiction of incorporation or organization) |
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001-34892 (Commission File Number) |
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27-2377517 (IRS Employer Identification No.) |
424 Lewis Hargett Circle, Suite 250
Lexington, Kentucky 40503
(Address of principal executive office) (Zip Code)
(859) 389-6500
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On April 8, 2013, Rhino Resource Partners LP (Rhino) announced that it closed on an agreement with a third party to sell the 20% royalty interest on its owned Utica Shale property for approximately $10.5 million. Rhinos owned Utica Shale property was leased to a third party in March 2012 and the lease agreement stipulated that Rhino retained a 20% royalty based upon the gross proceeds received from the sale of oil and/or natural gas recovered from the leased property.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. |
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Description |
99.1 |
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Press Release dated April 8, 2013. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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RHINO RESOURCE PARTNERS LP | |
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By: |
Rhino GP LLC, Its General Partner |
Dated: April 8, 2013 |
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By: |
/s/ Whitney C. Kegley |
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Name: Whitney C. Kegley | |
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Title: Vice President, Secretary and General Counsel |
Exhibit 99.1
News Release
Investor Contact:
Scott Morris
+1 859.519.3622
smorris@rhinolp.com
RHINO RESOURCE PARTNERS LP ANNOUNCES
SALE OF UTICA SHALE ROYALTY INTEREST
LEXINGTON, KY (April 8, 2013) Rhino Resource Partners LP (NYSE: RNO) (Rhino or the Partnership) today announced that it has closed on an agreement with a third party to sell the 20% royalty interest on its owned Utica Shale property for approximately $10.5 million. Rhinos owned Utica Shale property was leased to a third party in March 2012 and the lease agreement stipulated that Rhino retained a 20% royalty based upon the gross proceeds received from the sale of oil and/or natural gas recovered from the leased property. The Partnership will utilize the proceeds from the sale to reduce debt, which provides further liquidity to Rhino for the development of its new Pennyrile mine in western Kentucky.
Dave Zatezalo, President and Chief Executive Officer of Rhinos general partner, stated, We are pleased that we have been able to complete the sale of this royalty interest since it provides us with additional liquidity for the development of our new Pennyrile mine in the Illinois Basin. We view our new Pennyrile mine as an important step in our diversification efforts to operate in multiple coal basins in the United States.
About Rhino Resource Partners LP
Rhino Resource Partners LP is a growth-oriented limited partnership. Rhino produces metallurgical and steam coal in a variety of basins throughout the United States, it leases coal through its Elk Horn subsidiary, and it owns oil and gas acreage in the Utica and Cana Woodford plays.
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