Contura Sale of 2 Wyoming Mines Unlikely to Ease Powder River Basin’s Low-Price Problem

first_img FacebookTwitterLinkedInEmailPrint分享SNL:Coal prices in the Powder River Basin are low, and the recent sale of Contura Energy Inc.’s two mines in the region is unlikely to change that, according to analysts.Seaport Global Securities LLC analysts Mark Levin and Nathan Martin estimated in a Dec. 18 note that about 93 million tons of PRB coal had yet to be priced at the end of the third quarter — about 26% of total production in the region.“We think this is one major reason why PRB production will likely come in lower than flat in 2018,” they said. “Moreover, with so much coal yet to be priced, we are beginning to believe that absent a big move in natural gas prices and/or a very cold rest of December through February, PRB producers will put out 2018 volume guidance in late January/early February that is well below flat YOY.”The analysts called Contura’s decision to sell its Eagle Butte and Belle Ayr mines to Blackjewel LLC “a good one, maybe even a great one,” noting the move reduces Contura’s balance sheet asset retirement obligation from $200 million to $83 million, frees up $25 million in unrestricted cash, create significant income tax deductions, provides $50 million in royalty payments and reduces capital expenditures by $10 million to $12 million.However, the move will not likely help prices in the PRB.More: Western coal faces declining output, stagnant pricing despite Contura mine sale Contura Sale of 2 Wyoming Mines Unlikely to Ease Powder River Basin’s Low-Price Problemlast_img read more

Basketball Camps

first_img Bio State budget vs. job creation – January 22, 2015 House fire in Winter Harbor – October 27, 2014 admin Latest Postscenter_img Latest posts by admin (see all) BAR HARBOR — Mount Desert Island High School varsity basketball coaches Justin Norwood and Brent Barker have opened their summer basketball camps for registration.The Future Trojans Basketball Camp, run by Coach Norwood, is a five-day camp running from June 29 to July 3 at the Bernard Parady Gymnasium at MDI High School. The camp is open for any boy in third through ninth grade.The five-day MDI Girls’ Basketball Camp is being run by Coach Barker from June 22 to 26. The emphasis of this camp is to encourage interested girls from sixth through ninth grades in developing a greater understanding of all aspects of the game.The cost for both camps is $65 per person. The deadline for the boys’ camp is June 19. At-the-door sign-up for boys is $75.This is placeholder textThis is placeholder textFor more information contact: Brent Barker at 288-5011 or; or Justin Norwood at 322-3522 or For more sports stories, pick up a copy of the Mount Desert Islander. Hancock County Court News Nov. 3 thorugh Dec. 11 – January 22, 2015last_img read more