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May 05, 2015 11:46 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Foresight Energy, LP

Company Overview

Foresight Energy LP engages in the development, mining, transportation, and sale of thermal coal primarily in the eastern United States and internationally. It operates four underground mining complexes, including Williamson, Sugar Camp, Hillsboro, and Macoupin in the Illinois Basin. As of February 6, 2015, the company controlled approximately 3 billion tons of coal reserves in the Illinois Basin. Foresight Energy LP 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. The company was founded in 2006 and is headquartered in St. Louis, Missouri. Foresight Energy LP...

One Metropolitan Square

211 North Broadway

Suite 2600

St. Louis, MO 63102

United States

Founded in 2006

Phone:

314-932-6160

Key Executives for Foresight Energy, LP

Chief Executive Officer, President and Director
Age: 55
Total Annual Compensation: $3.1M
Chief Financial Officer and Senior Vice President
Age: 44
Total Annual Compensation: $650.0K
Chief Commercial Officer and Executive Vice President
Age: 58
Total Annual Compensation: $800.0K
Senior Vice President, General Counsel and Corporate Secretary
Age: 45
Total Annual Compensation: $500.0K
Compensation as of Fiscal Year 2014.

Foresight Energy, LP Key Developments

Foresight Energy, LP Announces Termination of Consent Solicitation

Foresight Energy LP previously announced that its wholly owned subsidiaries, Foresight Energy LLC and Foresight Energy Finance Corporation commenced a consent solicitation with respect to their outstanding 7.875% senior notes due 2021 to approve amendments to the indenture relating to the Notes on the terms and subject to the conditions set forth in the Issuers' consent solicitation statement, dated March 30, 2015, and the accompanying consent letter, dated March 30, 2015.

Foresight Energy LP Approves Cash Distribution for the Fourth Quarter of 2014, Payable on February 27, 2015

Foresight Energy LP announced that the board of directors of its general partner approved a quarterly cash distribution for the fourth quarter 2014 of $0.36 per unit, (an annualized rate of $1.44 per unit). The distribution represents an increase of 2.9% from the third quarter 2014 distribution of $0.35 per unit. The distribution is payable on February 27, 2015 for unitholders of record on February 16, 2015.

Foresight Energy LP Reports Unaudited Consolidated Earnings and Operating Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Production and Earnings Guidance for the Year 2015

Foresight Energy LP reported unaudited consolidated earnings and operating results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported coal sales of $300,040,000 against $268,021,000 a year ago. Operating income was $55,005,000 against $55,352,000 a year ago. Net income attributable to controlling interests was $29,056,000 against $23,737,000 a year ago. Basic and diluted loss per share was $0.22 against $0.54 a year ago. Adjusted EBITDA was $112,524,000 against $99,633,000 a year ago. For the six months, the company reported coal sales of $1,109,404,000 against $957,412,000 a year ago. Operating income was $257,056,000 against $204,187,000 a year ago. Net income attributable to controlling interests was $135,200,000 against $8,281,000 a year ago. Basic and diluted loss per share was $1.04. Net cash provided by operating activities was $236,040,000 against $179,526,000 a year ago. Investment in property, plant, equipment and development was $229,251,000 against $210,726,000 a year ago. Adjusted EBITDA was $404,467,000 against $362,241,000 a year ago. For the quarter, the company Coal tones produced 5,691,000 compared to 4,171,000 for the same period a year ago. For the year, the company Coal tones produced 22,547,000 compared to 17,991,000 for the same period a year ago. For 2015, sales volumes are currently estimated to be between 22.8 and 25.2 million tons. FELP has current commitments for 20.8 million tons for 2015. The company expects to generate Adjusted EBITDA in a range of $385 to $425 million, comparable to 2014 results at the midpoint. Capital expenditures are estimated to be between $115 and $130 million, including maintenance capital estimates of $80 to $90 million for distributable cash flow purposes.

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