NRP acquires frac sand interest
HOUSTON — Natural Resource Partners L.P. Wednesday reported the acquisition of royalty interests in frac sand reserves near Wyeville, Wis., for $15 million.
The reserves are currently being mined, processed, and sold under long-term contracts and will immediately generate income for NRP, according to a news release. The reserves have an estimated life of more than 30 years and are strategically to serve all major U.S. oil and natural gas producing basins. The sand is used in the fracturing process for oil and gas wells.
NRP, which has its operations headquarters in Huntington, owns and manages mineral reserve properties.