Westmoreland

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S&P: More coal production cuts coming as plant retirements continue

S&P Global Market Intelligence ($): Coal producers delivered 51.4 million tons of coal, 6.6% of the coal mined in the U.S. in 2017, to power plants scheduled to retire in the next 10 years as a secular decline in domestic demand continues to erode the size of the U.S. coal market. While U.S. producers have […]

September 7, 2018 Read More →

Westmoreland Coal reports more losses

S&P Global Market Intelligence ($): Westmoreland Coal Co. reported a net loss of $191 million, or $9.91 per share, in the second quarter and cautioned investors that its master limited partnership does not have funds to repay a term loan that matures at the end of this year. Westmoreland Resource Partners’ filings for the fourth […]

August 7, 2018 Read More →

Naughton Closure Likely To Undercut Demand At Westmoreland’s Kemmerer Mine

Casper Star Tribune: Fossil fuel critics are questioning a Wyoming plan to spend up to $22.5 million in public funds to expand a coal mine even as its owner appears headed for bankruptcy and a key customer prepares to curtail consumption. State lawmakers earlier this year approved a measure that earmarked $15 million to relocate […]

May 14, 2018 Read More →

Delisting Will Move Westmoreland Coal Step Closer to Bankruptcy, Analysts Say

Bloomberg ($): Ailing Westmoreland Coal Co., one of the nation’s biggest coal producers, will be delisted from the Nasdaq Stock Market April 25. That step will spook investors and nudge Westmoreland a step closer to bankruptcy, analysts said. If that happens, environmentalists fear there won’t be enough money left to pay for cleaning up the […]

April 24, 2018 Read More →

Clock Is Ticking on Westmoreland Coal

Billings Gazette: Westmoreland Coal Co. stock fell to 26 cents a share Tuesday after the company with three Montana mines indicated it would consider bankruptcy. The Colorado company, which feeds the Colstrip power plant from the Rosebud Mine, and whose Absaloka Mine has been a major source of income for the Crow Tribe, revealed in […]

April 4, 2018 Read More →

Power Company With Financial Ties to Failing Westmoreland Coal Co. Dismisses Risks to Ratepayers

Santa Fe New Mexican: Financially ailing Westmoreland Coal Co. — which operates the mine that supplies coal to the San Juan Generating Station in northwestern New Mexico — this week told the U.S. Securities and Exchange Commission it needs more time to complete its annual report because it’s having problems paying debts. But a spokesman […]

March 22, 2018 Read More →

Westmoreland Coal Issues a Warning on Its Potential Collapse

S&P Global Market Intelligence: Westmoreland Coal Co. disclosed that due to an uncertainty the company will meet debt obligations, its 2017 financial statements will likely contain a warning about the ability of the company to continue as a going concern. The inclusion of a going concern explanatory paragraph and anticipated failure of certain financial covenants […]

March 20, 2018 Read More →

Westmoreland Coal, Teetering Near Bankruptcy, Wants Montana to Let It Build a Bigger Mine

Bloomberg Environment: The nation’s eighth largest coal company is spiraling deeper into financial crisis, but that’s not stopping Westmoreland Coal Co. from chasing a new mine permit in Montana. Environmentalists now dread three outcomes in succession: first, that regulators approve the permit—which would let Westmoreland widen its existing Rosebud Mine near Colstrip, Mont., by another […]

March 2, 2018 Read More →