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Natural Resource Partners L.P. Completes Acquisition of Additional Williston Basin Oil and Gas Interests for $339 million

11/13/2014

HOUSTON, Nov. 13, 2014 /PRNewswire/ -- Natural Resource Partners L.P. (NYSE:NRP) today reported that it has completed the acquisition of non-operated working interests in oil and gas properties in the Bakken/Three Forks play of the Williston Basin from an affiliate of Kaiser-Francis Oil Company for $339 million, subject to customary post-closing adjustments.  The assets, located in the Sanish Field in Mountrail County, North Dakota, are all held by production and operated by Whiting Petroleum Corporation.  

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The transaction was funded with proceeds from both debt and equity capital market transactions completed in October and through borrowings from NRP Oil and Gas's upsized credit facility.  In conjunction with the closing of the transaction, the borrowing base under that credit facility was increased to $137 million.

Company Profile

Natural Resource Partners L.P. ("NRP") is a master limited partnership headquartered in Houston, TX.  NRP is a diversified natural resource company that owns interests in oil and gas, coal, aggregates and industrial minerals across the United States.  A large percentage of NRP's revenues are generated from royalties and other passive income.  In addition, NRP owns an equity investment in OCI Wyoming, a trona/soda ash operation, owns non-operated working interests in oil and gas properties and owns VantaCore, making NRP one of the top 25 aggregates producers in the United States.

For additional information, please contact Kathy H. Roberts at 713-751-7555 or kroberts@nrplp.com.  Further information about NRP is available on the partnership's website at http://www.nrplp.com.

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SOURCE Natural Resource Partners L.P.

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