September 24, 2017 3:49 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Foresight Energy LP

Company Overview

Foresight Energy LP engages in the development, mining, production, marketing, transportation, and sale of thermal coal primarily in the eastern United States and internationally. As of March 17, 2017, the company owned four underground mining complexes, including Williamson, Sugar Camp, Hillsboro, and Macoupin, as well as four longwall systems, and the Sitran river terminal on the Ohio River. It controls approximately 2 billion tons of coal reserves in the Illinois Basin. The company sells its coal to electric utility and industrial companies. The company was formerly known as Foresight Energy Partners LP and changed its name to Foresight Energy LP in April 2014. Foresight Energy LP was fou...

One Metropolitan Square

Suite 2600

211 North Broadway

St. Louis, MO 63102

United States

Founded in 2006

799 Employees

Phone:

314-932-6160

Key Executives for Foresight Energy LP

Chairman, President & CEO of Foresight Energy GP LLC
Age: 46
Total Annual Compensation: $1.1M
Principal Financial Officer, Chief Accounting Officer & VP of Foresight Energy GP LLC
Age: 41
Total Annual Compensation: $875.0K
Compensation as of Fiscal Year 2016.

Foresight Energy LP Key Developments

Foresight Energy LP Announces Resignation of James T. Murphy as Vice President and Chief Accounting Officer, Effective September 30, 2017; Approves Quarterly Distribution, Payable on August 31, 2017

On August 11, 2017, Mr. James T. Murphy, Vice President and Chief Accounting Officer notified Foresight Energy LP of his intent to resign effective September 30, 2017. Mr. Murphy will continue to serve as Vice President and Chief Accounting Officer until his resignation date. The Board of Directors of the company announced that its General Partner approved the restoration of a quarterly cash distribution of $0.0647 per common unit. The distribution is payable on August 31, 2017, for common unit holders of record on August 21, 2017.

Foresight Energy LP Reports Unaudited Consolidated Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2017; Reaffirms Earnings Guidance for the Year 2017

Foresight Energy LP reported unaudited consolidated earnings and production results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported total revenues of $207.093 million compared to $226.000 million a year ago. Operating income was $19.143 million compared to $12.585 million a year ago. Net loss was $16.277 million compared to $27.670 million a year ago. Net loss available to limited partner units - basic and diluted- common unit holders was $8.790 million or 0.12 per share compared to $13.995 million or 0.21 per share a year ago. Net cash provided by operating activities was $38.503 million. Adjusted EBITDA $84.475 million compared to $75.109 million a year ago. During the second quarter 2017, capital expenditures (Investment in property, plant, equipment and development) totaled $21.7 million, an increase of $13.5 million compared to the quarter ended June 30, 2016. For the six months, the company reported net loss attributable to controlling interests of $127.461 million compared to $69.491 million a year ago. Adjusted EBITDA $148.445 million compared to $125.354 million a year ago. For the quarter, the company reported tons produced of 5,660,000 against 4,889,000 a year ago. For the six months, the company reported tons produced of 10,927,000 against 9,188,000 a year ago. Based on company’s contracted position, recent performance, and its current outlook on pricing and the coal markets in general, the company is reaffirming, updating or providing the following guidance for 2017: Sales Volumes – Based on year-to-date sales volumes, current committed position and expectations for the remainder of 2017, the company is reaffirming projected sales volumes to be between 20.5 million tons and 22.0 million tons, with over 5.0 million tons expected to go into the international market. The company has current commitments of approximately 20.0 million tons for 2017. Based on the projected sales volumes and operating cost structure, the company currently expects to generate adjusted EBITDA in a range of $285 million to $310 million and total 2017 capital expenditures are estimated to be between $70 million and $77 million. Interest expense expected to be $140 million.

Foresight Energy LP to Report Q2, 2017 Results on Aug 11, 2017

Foresight Energy LP announced that they will report Q2, 2017 results at 9:00 AM, Eastern Standard Time on Aug 11, 2017

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