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

Ratings downgrade as U.S. coal company Bowie Resource Partners faces ‘liquidity shortfall’

S&P Global Market Intelligence ($): Bowie Resource Partners LLC could face a liquidity shortfall in the next year if it fails to extend its revolving credit facility, S&P Global Ratings said in a downgrade of the U.S. coal producer. The company’s liquidity may be insufficient to cover its revolver due in August and mandatory amortizations, […]

June 11, 2018 Read More →

In Secret Filings, Utah Coal Company Presses for a Break on Its Federal Lease Payments

Salt Lake Tribune: Utah’s largest coal producer is seeking a tax royalty reduction potentially worth millions of dollars on what it owes for federal coal leases mined at the Sufco Mine outside Salina, yet virtually no information is publicly available regarding the request. In confidential filings submitted to the Bureau of Land Management, Bowie Resource […]

March 8, 2018 Read More →

Utah Coal Industry Seeks a Legal Lifeline in Oakland Courtroom

Salt Lake Tribune: After hearing three days of testimony last week, U.S. District Judge Vince Chhabria will soon decide to either affirm or invalidate Oakland’s coal ban that thwarted a major Utah coal producer’s hopes of shipping 5 to 10 million tons to Asian countries. A subsidiary of Bowie Resource Partners, which operates Utah’s Dugout, […]

January 22, 2018 Read More →

California AG Sides With Oakland in Refusal to Allow Kentucky-Utah Coal-Export Scheme to Proceed

East Bay Times: State Attorney General Xavier Becerra filed a brief in support of the city’s ban on the storage and handling of coal and petroleum coke in Oakland. The city ordinance was passed in July 2016, effectively killing plans to transport the ore through a lpanned terminal near the Port of Oakland, on a […]

December 12, 2017 Read More →

IEEFA Update: The Coal Deal That Collapsed to Nobody’s Surprise

A Debt-Fueled Arrangement Between Murray Energy and Bowie Resources Went Nowhere for a Reason

The quick collapse this month of a debt-fueled deal by Murray Energy to buy out troubled Bowie Resource Partners and its Utah coal holdings comes as no surprise. The acquisition was supposed to have been financed with $510 in junk bond debt. It took only 10 days to fall apart. The “capital raise” wasn’t getting […]

November 17, 2017 Read More →

Junk Bond Deal for Murray Energy to Take Over Bowie Resource Partners Falls Through

Wall Street Journal: Bowie Resource Partners LLC, a Kentucky coal-mining company, pulled a $510 million debt deal Friday as investor sentiment toward high-yield debt became more cautious. The deal would have paved the way for a takeover of the company by Murray Energy Corp. and new bondholders. The proposed deal was intended to refinance Bowie […]

November 14, 2017 Read More →
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 →