December 10, 2016 6:54 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Elk Run Coal Company, Inc.

Company Overview

Elk Run Coal Company, Inc. engages in coal mining. The company was founded in 1978 and is based in Sylvester, West Virginia. Elk Run Coal Company, Inc. operates as a subsidiary of Alpha Natural Resources, Inc.

31754 Coal River Road

Sylvester, WV 25193

United States

Founded in 1978

Phone:

304-854-1890

Key Executives for Elk Run Coal Company, Inc.

President
Compensation as of Fiscal Year 2016.

Elk Run Coal Company, Inc. Key Developments

Second Amended Reorganization Plan Approved for Alpha Natural Resources, Inc.

The US Bankruptcy Court approved the second amended plan of reorganization of Alpha Natural Resources, Inc. on July 12, 2016. As per the approved plan, Administrative Claims, Statutory Fees, Professional Compensation, Priority Tax Claims, Priority Claims and Convenience Claims will be paid in full. DIP Claims comprise of term loan of $300 million, letter of credit of $192 million and revolving credit facility of $200 million will also be paid in full. Secured First Lien Lender Claims comprising of First Lien Term Loan B Facility of $611 million, First Lien Revolving Facility of $445 million and letters of credit under First Lien Revolving Facility of $191.2 million will receive pro rata share of First Lien Lender Distribution. Secured Second Lien Noteholder Claims of $714 million will receive the holder's Pro Rata share of the Second Lien Noteholder Distribution. Other Secured Claims will be satisfied through reinstatement of their claims at the election of debtor except for the claims the debtor may have chosen cash distribution or surrender of the respective collateral. General Unsecured Claims will receive a Pro Rata share of General Unsecured Claims Asset Pool comprising of the reorganized debtor’s equity. Prepetition Intercompany Claims will be deemed settled and compromised in exchange for the consideration and other benefits provided to the holders of Prepetition Intercompany Claims and not entitled to any Distribution of Plan consideration under the Plan. Section 510(b) Securities Claims, Section 510(b) Old Common Stock Claims and Old Common Stock of ANR Interests will not receive any distribution and their respective claims will be extinguished. Subsidiary Debtor Equity Interests will be reinstated. The plan will be funded from available cash in hand and sale proceeds.

Motion for Asset Sale Approved for Alpha Natural Resources, Inc.

The US Bankruptcy Court gave an order approving the sale of certain assets of Alpha Natural Resources, Inc. on May 26, 2016. The debtor has been authorized to sell its certain assets to Vantage Energy Appalachia II LLC, for a purchase price of $339.5 million. The debtor’s assets include certain oil and gas properties and related assets. At the auction held, Vantage Energy Appalachia II LLC emerged as the winning bidder by offering a purchase price of $339.5 million whereas Rice Drilling B LLC has been appointed, stalking horse bidder as the back-up bidder. John Higgins and Jeremy Mouton of Porter Hedges LLP acted as legal advisors to Vantage Energy.

Second Amended Reorganization Plan & Related Disclosure Statement Filed by Alpha Natural Resources, Inc.

Alpha Natural Resources, Inc. filed second amended plan of reorganization and related disclosure statement in the US Bankruptcy Court on May 25, 2016. Treatment of all the classes of claims remain same as per the previous plan.

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