Nick Carter, President and COO of Natural Resource Partners LP (NRP), says the company intends to pursue a three-pronged acquisition strategy. The first two parts of the strategy focus on purchasing coal assets, as well as aggregates and industrial minerals.
“We will look at coal assets, and if we can find accretive coal assets — where we’re certain enough about the market, and the levels of production and the pricing that they can achieve — we will certainly buy those assets,” Carter says.
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The third prong of Natural Resource Partners’ acquisition strategy is to buy oil and gas assets. But, Carter says the company does not intend to be an operator in that arena.
“You will not see a drill rig with NRP’s name on the side of it, but we will participate in drilling programs or in drilling as a working interest, but as a non-op working interest,” Carter says. “And we will buy royalties, and we will buy reserves and lease those reserves out, but we are not going to be an operator. In any of our businesses, we’re not going to be an operator.”
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