Contura Energy

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Wyoming landowners sue state over coal company bonding claims

Casper Star Tribune: A northern Wyoming landowners’ group is suing the state for declining to prove that $27 million in ranchland used as collateral for a coal mine’s cleanup is really worth that much money. The dispute concerns Blackjewel LLC, a relative newcomer to Wyoming coal country. The firm announced that it had acquired Eagle […]

February 11, 2019 Read More →

Bank Alleges Fraud in Coal Company Asset Dealings

S&P Global Market Intelligence ($): Fifth Third Bank has sued Revelation Energy LLC for failing to make payments on its loans and alleged that the U.S. coal producer may have fraudulently transferred assets in the company’s acquisition of two large Powder River Basin mines. The bank wrote in a civil complaint filed in the U.S. […]

April 25, 2018 Read More →

Few New Leases on Federal Coal Tracts 1 Year After Moratorium Reversal

S&P Global Market Intelligence ($): A year after the Trump administration lifted a controversial moratorium on federal coal leases, both approvals and new applications are scarce as industry challenges show little sign of abating. “I don’t think there is a whole lot of interest in new coal leasing,” said Mark Squillace, director of the Natural […]

April 5, 2018 Read More →

Op Ed: It’s Time To Prohibit Self-Bonding By Coal Companies

Caspar Star Tribune: This past month a completely unknown and unproven company called Blackjewel, LLC “bought” two of Wyoming’s oldest and biggest coal mines. More particularly, they were given the mines in exchange for assuming their cleanup risks and some hypothetical future royalties. They acquired the Eagle Butte and Belle Ayr mines near Gillette from […]

January 8, 2018 Read More →

IEEFA Update: Financial Facts Don’t Support Coal Industry’s Claims of 2017 Recovery

Failed Deals, Financial Losses, and Cancelled Leases Contradict the Rosy Picture Offered by Industry Executives

As 2017 ended, coal industry leaders made a number of upbeat statements to the press and investors, citing what they saw as good news: regulatory rollbacks by the Trump administration, promises of future federal subsidies, improved profits, an increase in coal exports and metallurgical sales, a few loan closings, and a late year stock price […]

January 2, 2018 Read More →
IEEFA Update: Another Canary in the Coal Mine

IEEFA Update: Another Canary in the Coal Mine

Telling Details in a Deal That Transfers Two Wyoming Mines to an Appalachian Company

In the first negative-value transaction in the Powder River Basin proper, Contura Energy is planning to transfer two coal mines in Wyoming to another company in exchange for royalties from future sales and for the new owner assuming reclamation liabilities. Contura, formed when senior lenders took some assets during Alpha Natural Resources bankruptcy, Eagle Butte […]

December 13, 2017 Read More →

Little-Known Buyer of ‘Crown Jewel’ Powder River Basin Coal Mines Sows Doubt in Wyoming

Casper (Wyo.) Star-Tribune: The coal company that emerged from the ashes of the Alpha Natural Resources bankruptcy is getting out of the Powder River Basin just a little over a year since its formation. Contura Energy announced Monday that it was transferring its Eagle Butte and Belle Ayr mines to Blackjewel L.L.C., a private company […]

December 12, 2017 Read More →

Contura, Citing Weak Investor Interest, Pulls Its IPO

Bloomberg News: Contura Energy Inc., which inherited some of Alpha Natural Resources Inc.’s best coal mines during that company’s bankruptcy, has withdrawn a plan for an initial public offering amid lackluster demand from potential investors. Contura’s decision underscores how cautious Wall Street has been about investing in the U.S. coal sector, despite a rebound following […]

August 11, 2017 Read More →
IEEFA Update: In Federal Coal-Policy Reversals, Trump Is Handing Out Snowballs in a Blizzard

IEEFA Update: In Federal Coal-Policy Reversals, Trump Is Handing Out Snowballs in a Blizzard

Companies Are Cancelling Applications for New Leases on Public Lands or Seeking Delays; Presidential Pronouncements Seem Little More Than Symbolic

Its reversal earlier this year of a moratorium on federal coal leases put into place last fall by President Obama got the Trump administration lots of applause from the industry. It got more this week for rescinding a rule that came onto the books several months ago in a federal policy change meant to end […]

Analyst: U.S. May Never Have an Investment Grade Coal Company Again

Taylor Kuykendall in SNL: Despite near-term improvements in the U.S. coal sector, getting investors excited about the industry may still prove a tough sell. “I don’t necessarily think we are ever going to get back to a situation where we’re going to have an investment-grade coal company again,” Chiza Vitta, an analyst with S&P Global Ratings, said […]

July 11, 2017 Read More →