Murray Energy

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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 →

U.S. Coal Bailout Plant Would Benefit a Select Few: Murray Energy, FirstEnergy, NRG

Politico: “Customers get less than nothing while a few companies and their investors get a whole lot of something,” Nora Mead Brownell, a Republican former electricity regulator, said of Perry’s plan, noting the high cost estimates. “Money that gets spent there doesn’t get invested in doing what you really need to do, which is upgrading […]

November 7, 2017 Read More →

Moody’s: Much-Anticipated Federal Energy Report ‘Will Not Save Coal’

SNL: A fossil fuel-friendly federal government report “will not save coal,” according to a new note out from Moody’s. While the U.S. Department of Energy’s recent study of the U.S. electricity grid was generally written in a tone favorable to coal, Moody’s said, the report does not change expectations the sector will decline in the long term. Moody’s […]

September 5, 2017 Read More →

IEEFA Update: Who Bob Murray Is, and What He Wants

A Life-Long Coal Man Rages Against the Night

Tom Sanzillo has a gimlet-eyed commentary up today piercing the coded talk Peabody Energy Glenn Kellow has been putting out lately around his save-the-company strategy. It banks on market intervention, that is, government action to reach in and keep his industry viable as natural gas and renewables take customers away. Peabody, the largest non-state-owned coal […]

August 25, 2017 Read More →

$1.1 Billion in Bonds of Marquee U.S. Coal Company Plunge in Value

Bloomberg News: Bonds of Murray Energy Corp., the biggest privately owned U.S. coal producer, fell the most in 15 months after the White House denied the company’s request to aid one of its power-plant customers, an action it said would help both companies avoid bankruptcy. The miner’s $1.1 billion of 11.25 percent bonds due in […]

August 24, 2017 Read More →

Plea for 2-Year Moratorium on U.S. Coal Plant Closings Lands With a Thud

Associated Press: The Trump administration has rejected a coal industry push to win a rarely used emergency order protecting coal-fired power plants, a decision contrary to what one coal executive said the president personally promised him. The Energy Department says it considered issuing the order sought by companies seeking relief for plants it says are […]

August 22, 2017 Read More →

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 →
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 →

On the Blogs: Judge Rules Coal Industry Lawsuit Is a Diversion The Fourth Circuit Court of Appeals on Thursday overturned a lower court’s ruling and determined that the Environmental Protection Agency (EPA) is appropriately analyzing the economic impact of regulations under the Clean Air Act. The case was originally brought by Murray Energy Corporation and a group of subsidiaries and other coal companies, who alleged […]

June 30, 2017 Read More →