Bowie Resource Partners And PacifiCorp Sign 15 Year Requirements Contract And Asset Purchase Agreement

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Dec 16, 2014, 11:00 ET

LOUISVILLE, Ky., Dec. 16, 2014 /PRNewswire/ -- Bowie Resource Partners, LLC ("BRP") announced today that it has entered into a transaction with PacifiCorp ("PacifiCorp") to supply all of the coal requirements of PacifiCorp's Huntington Power Plant near Huntington, Utah through 2029 (estimated at approximately 2.8 million tons per year) and to acquire approximately 50 million tons of undeveloped, high heat, low sulfur coal reserves in Utah from PacifiCorp. BRP's Executive Chairman, John Siegel, commented that "we are excited about this unique fifteen (15) year partnership with our largest customer." The transaction is expected to close in the first half of 2015, subject to customary closing conditions, including approval of certain state public utility service commissions.

BRP is the nation's largest Western Bituminous coal producer with four (4) underground mines in Utah and Colorado. PacifiCorp is one of the West's leading utilities, serving approximately 1.8 million customers in six states. The utility has a diverse generation mix utilizing hydroelectric, coal, natural gas, geothermal and wind sources. Rocky Mountain Power is a division of PacifiCorp, which comprises three business units, including: PacifiCorp Energy, which operates the company's power plants, energy trading functions and mining operations; and Pacific Power, which provides electric service to customers in Oregon, Washington and northern California.

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SOURCE Bowie Resource Partners, LLC