Bowie Resources

IEEFA Research

IEEFA Analysis: If Utah Commits to Proposed $53 Million Oakland Port Subsidy, It’s Buying a Pig in a Poke

Could There Be a Worse Time to Invest in Deteriorating Coal Markets?

A bill being seriously considered by the Utah State Legislature this week seeks in essence to finance a backdoor subsidy for a coal export terminal in California whose construction could well leave Utah taxpayers on the hook for a highly questionable and highly speculative $53 million out-of-state subsidy. The proposed law, which exists now as SB0246, is […]

March 8, 2016 Read More →
Oakland’s Proposed Coal-Export Expansion Is Fraught With Risk

Oakland’s Proposed Coal-Export Expansion Is Fraught With Risk

Red Flags in a Global Downturn, a Struggling Coal Producer and a State Guarantee

We’re presenting testimony to the Oakland City Council today that questions the wisdom of a proposal to expand the Port of Oakland’s coal-export capacity at the Oakland Army Base Redevelopment project. The deal being considered raises several red flags. First, the developer is taking a major financial risk by relying so much on coal in […]

September 21, 2015 Read More →

More News and Commentary

IEEFA Swamp Watch: A New Coal Mine, the Russians, an Amsterdam Connection, and Trump …

IEEFA Swamp Watch: A New Coal Mine, the Russians, an Amsterdam Connection, and Trump …

Paringa Resources, Run by a Friend to the President, Aims to Add to an Oversupplied Market

Word is that a new U.S. thermal coal mine—the first since the election of Donald Trump—will break ground in Kentucky in July. Paringa Resources Limited, based in Evansville, Ind., says it has raised enough money to start construction on the proposed Buck Creek Complex Poplar Grove Mine. The company has announced also that it has […]

June 30, 2017 Read More →

Bowie Resource Partners Drops Application for Coal-Gasification Plant in Colorado

Dennis Webb for the Grand Junction Daily Sentinel: Bowie Resource Partners has withdrawn an application with a state agency for approval to build a coal gasification plant at its Bowie No. 2 coal mine near Paonia. The action comes just two months after it submitted the application with the Colorado Division of Reclamation, Mining and […]

January 10, 2017 Read More →
Utah’s Oakland Coal-Export Folly Sunk by Community Opposition and Market Forces

Utah’s Oakland Coal-Export Folly Sunk by Community Opposition and Market Forces

Bell Tolls for a Controversial Proposal That Created Political Fanfare in Two States

A sketchy deal that would have led to construction of a new seaside terminal in Oakland, California, to export coal from Utah—the focus of great political fanfare in both states just a year ago—looks like it’s now dead for good. Public opposition to the project, and exposure of political machinations that didn’t pass the smell […]

September 2, 2016 Read More →

Bowie Resources Cancels IPO

Christopher Coats for SNL: Bowie Resource Partners LP backed away from its effort to establish a publicly traded master limited partnership, announcing Aug. 19 that it requested the withdrawal of its Form S-1 registration statement by the U.S. SEC, citing market conditions. The effort set the proposed maximum aggregate offering price at $100 million and […]

August 24, 2016 Read More →

Colorado Coal Output Drops 42%

Danika Worthington for the Denver Post: Colorado coal production in the first six months of the year dropped 42 percent compared with the same period of 2015, but on-the-job injuries increased by 20 percent. The Colorado Division of Reclamation, Mining and Safety released a report on mine production and safety for January through June of […]

August 4, 2016 Read More →

Peabody Sues Bowie Resources Over Collapse of Mine Sales in New Mexico and Utah

Jacqueline Palank for the Wall Street Journal: Peabody Energy Corp. is suing Bowie Resource Holdings LLC over the collapse of its $358 million offer to acquire Peabody’s Colorado and New Mexico mines, which preceded Peabody’s bankruptcy filing. The lawsuit, filed Wednesday in the U.S. Bankruptcy Court in St. Louis, seeks to collect a $20 million […]

June 3, 2016 Read More →

Coal Production in Uinta Basin of Colorado and Utah Drops by 34.7%

Christopher Coats for SNL: Coal production at mines in the Uinta Basin continued to slide in the first quarter of the year, down nearly 900,000 tons from the previous period and 34.7% below the same period in 2015. For the 12 months ending with the first quarter of the year, basin output was 29.3 million […]

May 3, 2016 Read More →

Is Bowie Resource Partners the Next Bankruptcy?

A Wave of Expansion Plans That Did Not Materialize Undermines the Company’s Financial Health

Just last November some in the coal world saw Kentucky-based Bowie Resource Partners as a kind of contrarian growth story.  Backed by $400+ million from high-powered international energy trading giant Trafigura and its private equity subsidiary Galena Associates, the company appeared to have the deep pockets necessary to carry off any number of distressed acquisitions. […]

April 13, 2016 Read More →

Editorial: A Train-Load of Trouble Rolls Toward Oakland

From the San Francisco Chronicle: The plan to ship 9 million tons of coal annually through West Oakland must be stopped. It’s bad enough that it’s environmentally threatening, fiscally dubious, and the product of duplicity and political chicanery. Even worse is the fact that a significant amount of public money is being invested in this […]

March 25, 2016 Read More →

Salt Lake Tribune: ‘Utah’s Coal-Export Deal Still Faces High Hurdles’

The Utah Legislature last week approved a $53 million investment in an Oakland, Calif., export terminal, but the state’s coal-shipping aspirations may still be just a dream. So far, Utah is the only entity that may pledge money toward building a $275 million bulk-freight terminal at the deep-water port under construction at the site of […]

March 18, 2016 Read More →