Royal Entergy Res (ROYE) 7.8500 $ROYE
Rhino Resource Partners LP Announces Amendment for Credit Agreement Extension
GlobeNewswire - Tue May 24, 6:47AM CDT
Rhino Resource Partners LP (OTCQB: RHNO) ("Rhino" or the "Partnership"
announced that on May 13, 2016, Rhino completed an amendment with its existing creditors to extend the term of its senior secured credit facility to July 31, 2017. Per the amendment, the credit facility will be automatically extended to December 31, 2017 if revolving credit commitments are reduced to $55 million or less on or before July 31, 2017. The amendment immediately reduces the revolving credit commitments under the credit facility to a maximum of $75 million and maintains the amount available for letters of credit at $30 million, with further reductions to the revolving credit commitments as outlined in the amendment. Details of the credit facility amendment are included in Rhino's Form 8-K as well as the Partnership's first quarter 2016 Form 10-Q, which were both filed with the Securities and Exchange Commission on May 16, 2016.
Rhino Resource Partners LP Announces Agreement for Potential Joint Venture
GlobeNewswire - Thu Apr 07, 4:00PM CDT
Rhino Resource Partners LP (OTCQB: RHNO) ("Rhino" or the "Partnership" announced today that it has signed an agreement with ION Carbon & Minerals, LLC ("Ion Carbon", an wholly owned subsidiary of AMCI Holdings, Inc. (collectively referred to as "AMCI", to explore a potential joint venture between Rhino and AMCI. The proposed joint venture, named Encore Global Commodities LLC ("Encore", will be a domestic and international marketing entity initially focused on developing and marketing Rhino's coals, including thermal, metallurgical, and specialty products. The initial agreement provides a sixty-day due diligence period for Rhino and AMCI to review and finalize the formation of the considered Encore joint venture.
RNO: 0.29 (+0.01)
Rhino Resource Partners LP Announces Fourth Quarter 2015 Financial and Operating Results
GlobeNewswire - Fri Mar 25, 6:00AM CDT
Rhino Resource Partners LP (OTCQB:RHNO) ("Rhino" or the "Partnership" announced today its financial and operating results for the quarter ended December 31, 2015. For the quarter, the Partnership reported a net loss of $34.0 million and Adjusted EBITDA of $1.9 million, compared to a net loss of $60.7 million and Adjusted EBITDA of $2.8 million in the fourth quarter of 2014. Approximately $27.1 million of asset impairment and related charges impacted the net loss for the quarter ended December 31, 2015. Approximately $45.3 million of asset impairment and related charges impacted the net loss for the quarter ended December 31, 2014, as well as an additional $5.9 million impairment charge related to the Rhino Eastern joint venture investment. Diluted net loss per common unit was $1.14 for the quarter compared to diluted net loss per common unit of $2.03 for the fourth quarter of 2014. Total revenues for the quarter were $39.6 million, with coal sales generating $31.6 million of the total, compared to total revenues of $61.9 million and coal revenues of $52.5 million in the fourth quarter of 2014. (Refer to "Reconciliations of Adjusted EBITDA" included later in this release for reconciliations to the most directly comparable GAAP financial measures).
RNO: 0.29 (+0.01)
Rhino Resource Partners LP Announces Execution of Securities Purchase Agreement With Royal Energy Resources, Inc.
Marketwired - Wed Mar 23, 12:22PM CDT
Rhino Resource Partners LP (OTCQB: RHNO) ("Rhino" or the "Partnership" announced today that Rhino and Royal Energy Resources, Inc. (OTCQB: ROYE) ("Royal" entered into a securities purchase agreement (the "Securities Purchase Agreement" pursuant to which the Partnership issued 60,000,000 common units in the Partnership to Royal in a private placement in exchange for which Royal paid the Partnership $2.0 million in cash and delivered a promissory note payable to the Partnership in the amount of $7.0 million. The promissory note is payable in three installments: (i) $3.0 million on July 31, 2016; (ii) $2.0 million on or before September 30, 2016 and (iii) $2.0 million on or before December 31, 2016. In the event the disinterested members of the board of directors of Rhino GP LLC, the general partner of Rhino, determine that the Partnership does not need the capital that would be provided by either or both installments set forth in (ii) and (iii) above, in each case, the Partnership has the option to rescind Royal's purchase of 13,333,333 common units and the applicable installment will not be payable (each, a "Rescission Right". If the Partnership fails to exercise a Rescission Right, in each case, the Partnership has the option to repurchase 13,333,333 common units at $0.30 per common unit from Royal (each, a "Repurchase Option". The Repurchase Options terminate on December 31, 2017. Royal's obligation to pay any installment of the promissory note is subject to certain conditions, including that the Partnership has entered into an agreement to extend its Amended and Restated Credit Agreement, as amended, to a date no sooner than December 31, 2017.
RNO: 0.29 (+0.01)
Rhino Resource Partners LP Announces Royal Energy Resources, Inc. Completed the Acquisition of Certain Limited Partnership Interests and Entire General Partner Membership Interest From Wexford Capital LP
GlobeNewswire - Thu Mar 17, 4:10PM CDT
Rhino Resource Partners LP (OTCQB: RHNO) ("Rhino" or the "Partnership" announced today that Royal Energy Resources, Inc. (OTCQB: ROYE) ("Royal" has completed the acquisition of all of the issued and outstanding membership interests of Rhino GP LLC, the general partner of Rhino, as well as 9,455,252 issued and outstanding subordinated units from Wexford Capital LP ("Wexford". Royal has obtained majority ownership interest and control of the Partnership with the completion of this transaction. As previously announced on January 21, 2016, Royal and Wexford completed a definitive agreement where Royal acquired 6,769,112 issued and outstanding common units of the Partnership from Wexford. The definitive agreement also included the committed acquisition by Royal within sixty days from the date of the definitive agreement of all of the issued and outstanding membership interests of Rhino GP LLC as well as the subordinated units from Wexford.
RNO: 0.29 (+0.01)
Rhino Resource Partners LP Announces Rescheduled Timing of Fourth Quarter 2015 Earnings Release Date
GlobeNewswire - Thu Mar 10, 4:19PM CST
Rhino Resource Partners LP (OTCQB: RHNO) ("Rhino" or the "Partnership" today announced that it is rescheduling the release date of its 2015 fourth quarter financial results to Friday, March 25, 2016, before the market opens. The Partnership will not host a conference call this quarter and any inquiries can be made to Rhino's investor relations department.
RNO: 0.29 (+0.01)
Royal Energy Resources Completes Initial Transaction to Acquire Control of Rhino Resource Partners, LP
Marketwired - Mon Jan 25, 2:30PM CST
On January 21, 2016 Royal Energy Resources, Inc. ("Royal" (OTCQB: ROYE) entered into a Securities Purchase Agreement (the "Purchase Agreement" with Wexford Capital, LP, and certain of its affiliates (collectively, "Wexford", under which Royal agreed to purchase, and Wexford agreed to sell, a controlling interest in Rhino Resource Partners, LP ("Rhino" (OTCQB: RHNO) in two separate transactions. Pursuant to the Purchase Agreement, Royal purchased 6,769,112 Common Units of Rhino from three holders for total consideration of $3,500,000.
RNO: 0.29 (+0.01)
Rhino Resource Partners LP Announces Completed Agreement for Royal Energy Resources, Inc. to Acquire from Wexford Capital LP Certain Limited Partnership Interests and Entire General Partner Membership Interest
GlobeNewswire - Thu Jan 21, 5:15PM CST
Rhino Resource Partners LP (OTCQB: RHNO) ("Rhino" or the "Partnership" announced today that a definitive agreement ("Definitive Agreement" has been completed between Royal Energy Resources, Inc. (OTCQB: ROYE) ("Royal" and Wexford Capital LP ("Wexford" where Royal has acquired 6,769,112 issued and outstanding common units of the Partnership previously owned by Wexford. The Definitive Agreement also includes the committed acquisition by Royal within sixty days from the date of the Definitive Agreement of all of the issued and outstanding membership interests of Rhino GP LLC, the general partner of Rhino, as well as 9,455,252 issued and outstanding subordinated units of the Partnership currently owned by Wexford. Once Royal has completed the acquisition of the Rhino GP LLC membership interests and the issued and outstanding subordinated units of the Partnership from Wexford, Royal will obtain majority ownership interest and control of the Partnership.
RNO: 0.29 (+0.01)
Royal Energy Resources, Inc. Announces Agreement to Acquire General and Limited Partnership Interests in Rhino Resource Partners LP
Marketwired - Fri Jan 08, 12:02PM CST
Royal Energy Resources, Inc. (OTCBB: ROYE) ("Royal" announced today that it has entered into a binding term sheet agreement ("Term Sheet" with Rhino Resource Partners LP ("Rhino" and Wexford Capital LP ("Wexford", whereby Royal will acquire 6,769,112 issued and outstanding common units of Rhino currently owned by Wexford. The binding Term Sheet also includes the acquisition by Royal at a later date of all of the issued and outstanding membership interests of Rhino GP LLC, the general partner of Rhino, as well as 9,455,252 issued and outstanding subordinated units of Rhino currently owned by Wexford. Pursuant to the executed binding Term Sheet, Royal and Wexford agree to negotiate definitive agreements to finalize the contemplated transactions described above no later than January 15, 2016.
Rhino Resource Partners LP Announces Agreement for Royal Energy Resources, Inc. to Acquire from Wexford Capital LP Certain Limited Partnership Interests and Entire General Partner Membership Interest
GlobeNewswire - Thu Jan 07, 4:43PM CST
Rhino Resource Partners LP (OTCQB: RHNO) ("Rhino" or the "Partnership" announced today that a binding term sheet agreement ("Term Sheet" has been completed between Royal Energy Resources, Inc. ("Royal" and Wexford Capital LP ("Wexford" where Royal will acquire 6,769,112 issued and outstanding common units of the Partnership currently owned by Wexford. The binding Term Sheet also includes the acquisition by Royal at a later date of all of the issued and outstanding membership interests of Rhino GP LLC, the general partner of Rhino, as well as 9,455,252 issued and outstanding subordinated units of the Partnership currently owned by Wexford. Pursuant to the executed binding Term Sheet, Royal and Wexford agree to negotiate definitive agreements to finalize the contemplated transactions described above no later than January 15, 2016.
RNO: 0.29 (+0.01)
Royal Energy Resources Funds Initial $2,500,000 Offering; Raises Total Offering Amount To $7,500,000
PR Newswire - Thu Aug 06, 12:33PM CDT
Royal Energy Resources, Inc. (OTC Markets: ROYE) today announced it has over-subscribed its initial round of financing, in the original amount of $2,500,000, and increases its Offering amount to $7,500,000.
Rhino Resource Partners LP Announces Amendment for Credit Agreement Extension
GlobeNewswire - Tue May 24, 6:47AM CDT
Rhino Resource Partners LP (OTCQB: RHNO) ("Rhino" or the "Partnership"
announced that on May 13, 2016, Rhino completed an amendment with its existing creditors to extend the term of its senior secured credit facility to July 31, 2017. Per the amendment, the credit facility will be automatically extended to December 31, 2017 if revolving credit commitments are reduced to $55 million or less on or before July 31, 2017. The amendment immediately reduces the revolving credit commitments under the credit facility to a maximum of $75 million and maintains the amount available for letters of credit at $30 million, with further reductions to the revolving credit commitments as outlined in the amendment. Details of the credit facility amendment are included in Rhino's Form 8-K as well as the Partnership's first quarter 2016 Form 10-Q, which were both filed with the Securities and Exchange Commission on May 16, 2016. Rhino Resource Partners LP Announces Agreement for Potential Joint Venture
GlobeNewswire - Thu Apr 07, 4:00PM CDT
Rhino Resource Partners LP (OTCQB: RHNO) ("Rhino" or the "Partnership"
announced today that it has signed an agreement with ION Carbon & Minerals, LLC ("Ion Carbon", an wholly owned subsidiary of AMCI Holdings, Inc. (collectively referred to as "AMCI", to explore a potential joint venture between Rhino and AMCI. The proposed joint venture, named Encore Global Commodities LLC ("Encore", will be a domestic and international marketing entity initially focused on developing and marketing Rhino's coals, including thermal, metallurgical, and specialty products. The initial agreement provides a sixty-day due diligence period for Rhino and AMCI to review and finalize the formation of the considered Encore joint venture. RNO: 0.29 (+0.01)
Rhino Resource Partners LP Announces Fourth Quarter 2015 Financial and Operating Results
GlobeNewswire - Fri Mar 25, 6:00AM CDT
Rhino Resource Partners LP (OTCQB:RHNO) ("Rhino" or the "Partnership"
announced today its financial and operating results for the quarter ended December 31, 2015. For the quarter, the Partnership reported a net loss of $34.0 million and Adjusted EBITDA of $1.9 million, compared to a net loss of $60.7 million and Adjusted EBITDA of $2.8 million in the fourth quarter of 2014. Approximately $27.1 million of asset impairment and related charges impacted the net loss for the quarter ended December 31, 2015. Approximately $45.3 million of asset impairment and related charges impacted the net loss for the quarter ended December 31, 2014, as well as an additional $5.9 million impairment charge related to the Rhino Eastern joint venture investment. Diluted net loss per common unit was $1.14 for the quarter compared to diluted net loss per common unit of $2.03 for the fourth quarter of 2014. Total revenues for the quarter were $39.6 million, with coal sales generating $31.6 million of the total, compared to total revenues of $61.9 million and coal revenues of $52.5 million in the fourth quarter of 2014. (Refer to "Reconciliations of Adjusted EBITDA" included later in this release for reconciliations to the most directly comparable GAAP financial measures). RNO: 0.29 (+0.01)
Rhino Resource Partners LP Announces Execution of Securities Purchase Agreement With Royal Energy Resources, Inc.
Marketwired - Wed Mar 23, 12:22PM CDT
Rhino Resource Partners LP (OTCQB: RHNO) ("Rhino" or the "Partnership"
announced today that Rhino and Royal Energy Resources, Inc. (OTCQB: ROYE) ("Royal" entered into a securities purchase agreement (the "Securities Purchase Agreement" pursuant to which the Partnership issued 60,000,000 common units in the Partnership to Royal in a private placement in exchange for which Royal paid the Partnership $2.0 million in cash and delivered a promissory note payable to the Partnership in the amount of $7.0 million. The promissory note is payable in three installments: (i) $3.0 million on July 31, 2016; (ii) $2.0 million on or before September 30, 2016 and (iii) $2.0 million on or before December 31, 2016. In the event the disinterested members of the board of directors of Rhino GP LLC, the general partner of Rhino, determine that the Partnership does not need the capital that would be provided by either or both installments set forth in (ii) and (iii) above, in each case, the Partnership has the option to rescind Royal's purchase of 13,333,333 common units and the applicable installment will not be payable (each, a "Rescission Right". If the Partnership fails to exercise a Rescission Right, in each case, the Partnership has the option to repurchase 13,333,333 common units at $0.30 per common unit from Royal (each, a "Repurchase Option". The Repurchase Options terminate on December 31, 2017. Royal's obligation to pay any installment of the promissory note is subject to certain conditions, including that the Partnership has entered into an agreement to extend its Amended and Restated Credit Agreement, as amended, to a date no sooner than December 31, 2017. RNO: 0.29 (+0.01)
Rhino Resource Partners LP Announces Royal Energy Resources, Inc. Completed the Acquisition of Certain Limited Partnership Interests and Entire General Partner Membership Interest From Wexford Capital LP
GlobeNewswire - Thu Mar 17, 4:10PM CDT
Rhino Resource Partners LP (OTCQB: RHNO) ("Rhino" or the "Partnership"
announced today that Royal Energy Resources, Inc. (OTCQB: ROYE) ("Royal" has completed the acquisition of all of the issued and outstanding membership interests of Rhino GP LLC, the general partner of Rhino, as well as 9,455,252 issued and outstanding subordinated units from Wexford Capital LP ("Wexford". Royal has obtained majority ownership interest and control of the Partnership with the completion of this transaction. As previously announced on January 21, 2016, Royal and Wexford completed a definitive agreement where Royal acquired 6,769,112 issued and outstanding common units of the Partnership from Wexford. The definitive agreement also included the committed acquisition by Royal within sixty days from the date of the definitive agreement of all of the issued and outstanding membership interests of Rhino GP LLC as well as the subordinated units from Wexford. RNO: 0.29 (+0.01)
Rhino Resource Partners LP Announces Rescheduled Timing of Fourth Quarter 2015 Earnings Release Date
GlobeNewswire - Thu Mar 10, 4:19PM CST
Rhino Resource Partners LP (OTCQB: RHNO) ("Rhino" or the "Partnership"
today announced that it is rescheduling the release date of its 2015 fourth quarter financial results to Friday, March 25, 2016, before the market opens. The Partnership will not host a conference call this quarter and any inquiries can be made to Rhino's investor relations department. RNO: 0.29 (+0.01)
Royal Energy Resources Completes Initial Transaction to Acquire Control of Rhino Resource Partners, LP
Marketwired - Mon Jan 25, 2:30PM CST
On January 21, 2016 Royal Energy Resources, Inc. ("Royal"
(OTCQB: ROYE) entered into a Securities Purchase Agreement (the "Purchase Agreement" with Wexford Capital, LP, and certain of its affiliates (collectively, "Wexford", under which Royal agreed to purchase, and Wexford agreed to sell, a controlling interest in Rhino Resource Partners, LP ("Rhino" (OTCQB: RHNO) in two separate transactions. Pursuant to the Purchase Agreement, Royal purchased 6,769,112 Common Units of Rhino from three holders for total consideration of $3,500,000. RNO: 0.29 (+0.01)
Rhino Resource Partners LP Announces Completed Agreement for Royal Energy Resources, Inc. to Acquire from Wexford Capital LP Certain Limited Partnership Interests and Entire General Partner Membership Interest
GlobeNewswire - Thu Jan 21, 5:15PM CST
Rhino Resource Partners LP (OTCQB: RHNO) ("Rhino" or the "Partnership"
announced today that a definitive agreement ("Definitive Agreement" has been completed between Royal Energy Resources, Inc. (OTCQB: ROYE) ("Royal" and Wexford Capital LP ("Wexford" where Royal has acquired 6,769,112 issued and outstanding common units of the Partnership previously owned by Wexford. The Definitive Agreement also includes the committed acquisition by Royal within sixty days from the date of the Definitive Agreement of all of the issued and outstanding membership interests of Rhino GP LLC, the general partner of Rhino, as well as 9,455,252 issued and outstanding subordinated units of the Partnership currently owned by Wexford. Once Royal has completed the acquisition of the Rhino GP LLC membership interests and the issued and outstanding subordinated units of the Partnership from Wexford, Royal will obtain majority ownership interest and control of the Partnership. RNO: 0.29 (+0.01)
Royal Energy Resources, Inc. Announces Agreement to Acquire General and Limited Partnership Interests in Rhino Resource Partners LP
Marketwired - Fri Jan 08, 12:02PM CST
Royal Energy Resources, Inc. (OTCBB: ROYE) ("Royal"
announced today that it has entered into a binding term sheet agreement ("Term Sheet" with Rhino Resource Partners LP ("Rhino" and Wexford Capital LP ("Wexford", whereby Royal will acquire 6,769,112 issued and outstanding common units of Rhino currently owned by Wexford. The binding Term Sheet also includes the acquisition by Royal at a later date of all of the issued and outstanding membership interests of Rhino GP LLC, the general partner of Rhino, as well as 9,455,252 issued and outstanding subordinated units of Rhino currently owned by Wexford. Pursuant to the executed binding Term Sheet, Royal and Wexford agree to negotiate definitive agreements to finalize the contemplated transactions described above no later than January 15, 2016. Rhino Resource Partners LP Announces Agreement for Royal Energy Resources, Inc. to Acquire from Wexford Capital LP Certain Limited Partnership Interests and Entire General Partner Membership Interest
GlobeNewswire - Thu Jan 07, 4:43PM CST
Rhino Resource Partners LP (OTCQB: RHNO) ("Rhino" or the "Partnership"
announced today that a binding term sheet agreement ("Term Sheet" has been completed between Royal Energy Resources, Inc. ("Royal" and Wexford Capital LP ("Wexford" where Royal will acquire 6,769,112 issued and outstanding common units of the Partnership currently owned by Wexford. The binding Term Sheet also includes the acquisition by Royal at a later date of all of the issued and outstanding membership interests of Rhino GP LLC, the general partner of Rhino, as well as 9,455,252 issued and outstanding subordinated units of the Partnership currently owned by Wexford. Pursuant to the executed binding Term Sheet, Royal and Wexford agree to negotiate definitive agreements to finalize the contemplated transactions described above no later than January 15, 2016. RNO: 0.29 (+0.01)
Royal Energy Resources Funds Initial $2,500,000 Offering; Raises Total Offering Amount To $7,500,000
PR Newswire - Thu Aug 06, 12:33PM CDT
Royal Energy Resources, Inc. (OTC Markets: ROYE) today announced it has over-subscribed its initial round of financing, in the original amount of $2,500,000, and increases its Offering amount to $7,500,000.
