$206M Oil & Gas Royalty Acquisition Completed by Alliance Resource Partners
ARLP is trading near its 52-week low of $22.2 (8.1% above the low).
Summary
Alliance Resource Partners has completed its previously announced $206.2 million acquisition of oil and gas mineral interests. This follows the initial announcement and 8-K filing on June 8th. The deal significantly expands ARLP's Oil & Gas Royalties segment, adding approximately 115,680 net royalty acres, including a substantial portion in the Permian Basin. The acquisition was funded through a combination of cash, credit facility borrowings, and a new $150 million term loan. ARLP expects to provide further details during its next quarterly earnings conference call.
At the time of this announcement, ARLP was trading at $23.99 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $3.1B. The 52-week trading range was $22.20 to $29.45. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.