Thursday, 16 Jun 2011
Reuters reported that Penn Virginia Resource Partners LP bought 26.8 million tons of coal reserves in the Illinois basin from Indianapolis Power and Light Co for USD 13.5 million.
As per report, Penn Virginia Resource manages coal and natural resource properties as well as natural gas gathering and processing businesses.
The company said in a statement that the acquired Oatsville Reserve properties are located on about 5,875 acres in Gibson and Pike counties in Indiana and are in close proximity to 16 coal-fired power plants.
Radnor, Pennsylvania-based Penn Virginia said it was in discussions with operators to lease the reserves.
(Sourced from Reuters)
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