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Westmoreland Coal Co.
Ticker Symbol: WLBA* CUSIP: 960878106 Exchange: OTOTC
* NOTE: This security is no longer trading as of 4/09/2020
Company's Online Profile
BUSINESS: Westmoreland Coal Co. began mining in Westmoreland County, Pennsylvania in 1854 and today is one of the largest North American coal producers that operates 13 surface mines and a 50% interest in an activated carbon plant and char production facility. The Company produces and sells thermal coal primarily to investment grade power plants under long-term cost-protected contracts, as well as to industrial customers and barbeque briquettes manufacturers. It's U.S. coal operations are located in Montana, Wyoming, North Dakota and Texas and it's Canadian coal operations are located in Alberta and Saskatchewan.
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Notes: March 15, 2019 -- Westmoreland Coal Company (“Westmoreland” or “the Company”) (OTCMKTS: WLBAQ) announced today that its Chapter 11 plan (“the Plan”) became effective today and that it has emerged from Chapter 11 as a privately held company owned and operated by a group of its former creditors. The United States Bankruptcy Court for the Southern District of Texas, Houston Division (the “Court”) approved the Plan on March 2, 2019. Through its plan of reorganization, the Company effectuated the sale of substantially all of their assets to a new entity, Westmoreland Mining LLC (“Westmoreland Mining”), created and controlled by the Company’s former first lien creditors that enabled the business to emerge from the restructuring process with enhanced financial flexibility, a stronger balance sheet and a renewed ability to focus on providing reliable and affordable energy products. Post-bankruptcy, Westmoreland Mining’s assets include an extensive portfolio of coal mining operations, including five operating mines in each of Canada and the U.S. supplying regional power producers, and one export mine in Canada. Westmoreland Mining’s assets will remain in operation under the same local leadership, and the business will continue operating in the normal course, preserving over a thousand jobs in the U.S. and Canada. Westmoreland Resource Partners, LP, which owns the Kemmerer mine, remains in Chapter 11 and its mining assets have not been acquired by Westmoreland Mining. _____________________ January 2, 2015 -- Westmoreland Coal Company (NasdaqGM: WLB, Oxford Resource Partners, LP (NYSE: OXF, the (MLP) and Oxford Resources GP, LLC, the general partner of Oxford (the GP), today announced the completion of Westmoreland’s acquisition of the GP and Westmoreland’s contribution of certain royalty-bearing coal reserves to the MLP in return for MLP common units, as well as Westmoreland’s acquisition of Buckingham Coal Company, LLC. Westmoreland paid a total of $30.0 million in cash to acquire the GP, and received 4,512,500 common units of the MLP (on a post-split basis following the previously disclosed 12-to-1 reverse split of the MLP’s common and general partner units) as consideration for the Contribution. The closing of these transactions followed the successful restructuring of both Westmoreland’s and the MLP’s debt arrangements, as well as the approval by the MLP’s public unitholders of the Contribution and the MLP’s equity restructuring through certain previously announced amendments to its partnership agreement. In connection with the closing, the MLP’s name was changed to Westmoreland Resource Partners, LP and the name of the GP was changed to Westmoreland Resources GP, LLC. The common units of Westmoreland LP will trade on the NYSE under the symbol WMLP. On January 1, 2015, Westmoreland also completed its acquisition of Buckingham Coal Company, LLC, an Ohio-based coal supplier, for a total cash purchase price of $34.0 million, subject to customary post-closing adjustments. Separately, an affiliate of Westmoreland entered into a five-year coal supply agreement with AEP Generation Resources Inc. (AEP), which includes an obligation to purchase a minimum of 5.5 million tons of coal.
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Previous Ticker Symbol: WLB Changed: 4/25/2018
Mid Cap Stock -
Market Value $591.0 Million
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 9540 South Maroon Circle, Suite 200, Englewood, CO 80112 |
Main Phone Number |
303-922-6463 |
Fax Number |
Not Available |
Investor Contact (Secretary)
Jennifer S. Grafton
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720-354-4476
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Toll Free Phone Number |
855-922-6463 |
CEO - Keith E. Alessi |
CFO - Kevin A. Paprzycki |
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