NRP reports declining revenue for 1st quarter
HOUSTON -- Natural Resource Partners L.P. Wednesday reported first quarter revenues of $80.3 million and net income per unit of $0.29.
That compares compared to $94.3 million and net income per unit of $0.43 for the same period last year, according to a news release.
Distributable cash flow was $38.9 million, down from $44.5 million the first quarter of 2013.
"Our operating performance in the first quarter reflects the continued challenges our lessees are facing in the coal business, offset to some degree by our recent investments in soda ash and oil and gas," said Nick Carter, President and Chief Operating Officer. "Our diversification efforts continue to bear fruit, and with our current liquidity we are well-positioned to continue our growth, maintain sufficient coverage of our distribution and benefit from a recovery in the coal markets."
NRP, which owns and manages mineral reserve properties, has its operational headquarters in Huntington.
Gas prices up 3 cents per gallon in West Va.
CHARLESTON -- West Virginia gasoline prices have risen 3 cents per gallon in the past week.
AAA East Central says the average price for a gallon of regular is at $3.77. That's 12 cents more than a year ago and the highest since prices hit $3.68 a gallon last July.
Prices range from $3.73 in Charleston to $3.83 in Wheeling.
Nationally, gas prices average $3.67 per gallon, down 3 cents from a week ago.
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