Document and Entity Information
Document and Entity Information - shares shares in Millions | 3 Months Ended | |
Mar. 31, 2016 | May. 01, 2016 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | NRP | |
Entity Registrant Name | NATURAL RESOURCE PARTNERS LP | |
Entity Central Index Key | 1,171,486 | |
Current Fiscal Year End Date | --03-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 12.2 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 52,097 | $ 51,773 |
Accounts receivable, net | 48,154 | 50,167 |
Accounts receivable—affiliates | 7,525 | 6,864 |
Inventory | 7,406 | 7,835 |
Prepaid expenses and other | 3,835 | 4,490 |
Total current assets | 119,017 | 121,129 |
Land | 25,022 | 25,022 |
Plant and equipment, net | 57,444 | 61,239 |
Mineral rights, net | 1,060,829 | 1,094,027 |
Intangible assets, net | 3,701 | 3,930 |
Intangible assets, net—affiliate | 52,274 | 52,997 |
Equity in unconsolidated investment | 258,939 | 261,942 |
Long-term contracts receivable—affiliate | 45,931 | 47,359 |
Other assets | 1,204 | 1,266 |
Other assets—affiliate | 532 | 1,124 |
Total assets | 1,624,893 | 1,670,035 |
Current liabilities: | ||
Accounts payable | 7,595 | 8,465 |
Accounts payable—affiliates | 1,227 | 1,464 |
Accrued liabilities | 40,004 | 45,735 |
Current portion of long-term debt, net | 154,441 | 80,745 |
Total current liabilities | 203,267 | 136,409 |
Deferred revenue | 76,750 | 80,812 |
Deferred revenue—affiliates | 81,868 | 82,853 |
Long-term debt, net | 1,146,958 | 1,270,281 |
Long-term debt, net—affiliate | 19,936 | 19,930 |
Other non-current liabilities | $ 5,839 | $ 6,808 |
Commitments and contingencies | ||
Partners’ capital: | ||
Common unitholders’ interest (12.2 million units outstanding) | $ 96,615 | $ 79,094 |
General partner’s interest | (249) | (606) |
Accumulated other comprehensive loss | (2,697) | (2,152) |
Total partners’ capital | 93,669 | 76,336 |
Non-controlling interest | (3,394) | (3,394) |
Total capital | 90,275 | 72,942 |
Total liabilities and capital | $ 1,624,893 | $ 1,670,035 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - shares shares in Millions | Mar. 31, 2016 | Feb. 18, 2016 | Feb. 17, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||||
Common units outstanding (in shares) | 12.2 | 12.2 | 122.3 | 12.2 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Revenues and other income: | ||
Total revenues and other income | $ 80,826 | $ 107,611 |
Gain on asset sales | 21,925 | 2,066 |
Total revenues and other income | 102,751 | 109,677 |
Operating expenses: | ||
Operating and maintenance expenses | 30,902 | 37,421 |
Operating and maintenance expenses—affiliates, net | 3,748 | 3,076 |
Depreciation, depletion and amortization | 14,021 | 24,554 |
Amortization expense—affiliates | 722 | 838 |
General and administrative | 3,235 | 2,287 |
General and administrative—affiliates | 937 | 1,084 |
Asset impairment | 2,030 | 0 |
Total operating expenses | 55,595 | 69,260 |
Income from operations | 47,156 | 40,417 |
Other income (expense) | ||
Interest expense | (23,748) | (22,943) |
Interest income | 19 | 15 |
Other expense, net | (23,729) | (22,928) |
Net income | 23,427 | 17,489 |
Net income attributable to partners: | ||
Limited partners | 23,024 | 17,139 |
General partner | $ 403 | $ 350 |
Basic and diluted net income per common unit (in dollars per share) | $ 1.88 | $ 1.40 |
Weighted average number of common units outstanding (in shares) | 12,230 | 12,230 |
Add: comprehensive loss from unconsolidated investment and other | $ (545) | $ (965) |
Comprehensive income | 22,882 | 16,524 |
Coal, Hard Mineral Royalty and Other | ||
Revenues and other income: | ||
Total revenues and other income | 28,476 | 34,449 |
Coal, hard mineral royalty and other—affiliates | 10,569 | 19,061 |
VantaCore | ||
Revenues and other income: | ||
Total revenues and other income | 24,682 | 26,799 |
Oil and Gas | ||
Revenues and other income: | ||
Total revenues and other income | 7,298 | 14,779 |
Soda Ash | ||
Revenues and other income: | ||
Total revenues and other income | $ 9,801 | $ 12,523 |
Consolidated Statements of Part
Consolidated Statements of Partners' Capital - 3 months ended Mar. 31, 2016 - USD ($) shares in Thousands, $ in Thousands | Total | General Partner | Common Unitholders | Accumulated Other Comprehensive Loss | Partners' Capital Excluding Non-Controlling Interest | Non-Controlling Interest |
Balance, beginning of period at Dec. 31, 2015 | $ 72,942 | $ (606) | $ 79,094 | $ (2,152) | $ 76,336 | $ (3,394) |
Balance, beginning of period (in shares) at Dec. 31, 2015 | 12,230 | |||||
Increase (Decrease) in Partners' Capital [Roll Forward] | ||||||
Distributions to unitholders | (5,616) | (113) | $ (5,503) | (5,616) | ||
Net income | 23,427 | 403 | 23,024 | 23,427 | ||
Non-cash contributions | 67 | 67 | 67 | |||
Comprehensive loss from unconsolidated investment and other | (545) | (545) | (545) | |||
Balance, end of period at Mar. 31, 2016 | $ 90,275 | $ (249) | $ 96,615 | $ (2,697) | $ 93,669 | $ (3,394) |
Balance, end of period (in shares) at Mar. 31, 2016 | 12,230 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Cash flows from operating activities: | ||
Net income | $ 23,427 | $ 17,489 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, depletion and amortization | 14,021 | 24,554 |
Amortization expense—affiliates | 722 | 838 |
Distributions from equity earnings from unconsolidated investments | 12,250 | 10,903 |
Asset impairment | 2,030 | 0 |
Gain on asset sales | (21,925) | (2,066) |
Equity earnings from unconsolidated investment | (9,801) | (12,523) |
Other, net | 1,887 | 1,056 |
Other, net—affiliates | 664 | 7 |
Change in operating assets and liabilities: | ||
Accounts receivable | 5,782 | 15,110 |
Accounts receivable—affiliates | (661) | 3,643 |
Accounts payable | (48) | (2,642) |
Accounts payable—affiliates | (237) | (14) |
Accrued liabilities | (5,900) | (5,354) |
Deferred revenue | (4,063) | 5,845 |
Deferred revenue—affiliates | (985) | (738) |
Other items, net | 1,146 | 103 |
Other items, net—affiliates | 1,119 | (739) |
Net cash provided by operating activities | 19,428 | 55,472 |
Cash flows from investing activities: | ||
Acquisition of mineral rights | (2,725) | (16,788) |
Acquisition of plant and equipment and other | (2,221) | (1,365) |
Proceeds from sale of plant and equipment and other | 3 | 905 |
Proceeds from sale of oil and gas properties | 32,848 | 3,395 |
Proceeds from sale of coal and hard mineral royalty properties | 9,802 | 866 |
Return of long-term contract receivables—affiliate | 309 | 1,137 |
Net cash provided by (used in) investing activities | 38,016 | (11,850) |
Cash flows from financing activities: | ||
Proceeds from loans | 0 | 25,000 |
Repayments of loans | (51,166) | (41,166) |
Distributions to partners | (5,616) | (43,678) |
Distributions to non-controlling interest | 0 | (662) |
Debt issue costs and other | (338) | 83 |
Net cash used in financing activities | (57,120) | (60,423) |
Net increase (decrease) in cash and cash equivalents | 324 | (16,801) |
Cash and cash equivalents at beginning of period | 51,773 | 50,076 |
Cash and cash equivalents at end of period | 52,097 | 33,275 |
Supplemental cash flow information: | ||
Cash paid during the period for interest | 13,812 | 14,344 |
Plant, equipment and mineral rights funded with accounts payable or accrued liabilities | $ 811 | $ 3,761 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation Nature of Business Natural Resource Partners L.P. (the "Partnership") engages principally in the business of owning, operating, managing and leasing a diversified portfolio of mineral properties in the United States, including interests in coal, trona and soda ash, oil and gas, construction aggregates, frac sand and other natural resources. As used in these Notes to Consolidated Financial Statements, the terms "NRP," "we," "us" and "our" refer to Natural Resource Partners L.P. and its subsidiaries, unless otherwise stated or indicated by context. Principles of Consolidation and Reporting The accompanying unaudited Consolidated Financial Statements of the Partnership have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") for interim financial information and with Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. Certain reclassifications have been made to prior period amounts to conform to the current period financial statement presentation. As described in "Note 2. Segment Information", we recasted certain prior period amounts to conform to the way we internally manage and monitor segment performance. In particular, prior year general and administrative charges that were allocated to operating segments have been reclassified to Operating and maintenance expenses and Operating and maintenance expenses—affiliates on the Consolidated Statements of Comprehensive Income. The prior period reclassifications for new segments had no impact on the Partnership's consolidated financial position, net income (loss) or cash flows. On January 1, 2016, the Partnership adopted a new accounting standard using a retrospective approach that required the presentation of the Partnership's debt issuance costs as a direct deduction from the related debt liability, rather than recorded as an asset. The adoption resulted in a reclassification that reduced other current assets and short-term debt by $0.2 million and reduced other assets and long-term debt (including affiliate) by $13.8 million on the Partnership’s Consolidated Balance Sheet at December 31, 2015. In our opinion, all adjustments, consisting only of normal recurring adjustments necessary for a fair presentation, have been included. The interim financial statements should be read in conjunction with the audited financial statements and related notes included in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2015. Interim results are not necessarily indicative of the results for a full year. Management’s Forecast, Strategic Plan and Going Concern Analysis While NRP has a diversified portfolio of assets and a history and continued forecast of profitable operations with positive operating cash flows, its operating results and credit metrics continue to be impacted by demand challenges for coal and excess worldwide supply of oil and gas. In particular, as described in Note 7. Debt and Debt—Affiliate, NRP Oil and Gas LLC ("NRP Oil and Gas") and NRP Operating LLC ("Opco"), both wholly owned subsidiaries of NRP, have debt agreements that contain customary financial covenants, including maintenance covenants, and other covenants. In addition, NRP has issued $425 million of 9.125% Senior Notes that are governed by an indenture (the "Indenture") containing customary incurrence-based financial covenants and other covenants, but not maintenance covenants. The following discussion presents management’s going concern analysis in light of management’s outlook and strategic plan to address its debt covenant compliance and maturities. Opco As of March 31, 2016 , Opco had $290.0 million of indebtedness outstanding under its revolving credit facility due October 2017 (the "Opco Credit Facility") and $544.9 million outstanding under several series of Private Placement Notes (the "Opco Private Placement Notes") (collectively referred to as the "Opco Debt agreements"). The maximum leverage ratio under the Opco Debt agreements is required to be below 4.0 x through March 31, 2016. Commencing with respect to the period ending June 30, 2016, the maximum leverage ratio reduces to 3.75 x and reduces again to 3.5 x commencing with respect to the period ending June 30, 2017. In addition, the Opco Debt agreements contain certain additional customary negative covenants that, among other items, restrict Opco’s ability to incur additional debt, grant liens on its assets, make investments, sell assets and engage in business combinations. Opco's leverage ratio was 3.09x at March 31, 2016. While we forecast that we will be in compliance with all of the covenants under the Opco Debt agreements through March 31, 2017, our forecast is sensitive to commodity pricing and counterparty risk. Breaches of the Opco Debt agreement covenants that are not waived or cured, to the extent possible, would result in an event of default under the Opco Debt agreements, and if such debt is accelerated by the lenders thereunder, such acceleration would also result in a cross-default under the Indenture. We are currently pursuing or considering a number of actions in order to mitigate the effects of further commodity price and market deterioration which could otherwise cause us to breach financial covenants under the Opco Debt agreements. These actions include (i) dispositions of assets, (ii) actively managing our debt capital structure through a number of potential alternatives, including exchange offers and non-traditional debt financing, (iii) minimizing our capital expenditures, (iv) obtaining waivers or amendments from our lenders, (v) effectively managing our working capital and (vi) improving our cash flows from operations. NRP Oil and Gas NRP Oil and Gas had $75.0 million outstanding under its senior secured, reserve-based revolving credit facility (the "RBL Facility") as of March 31, 2016 . The facility is secured by a first priority lien on substantially all of NRP Oil and Gas' assets and is not guaranteed by NRP or any other subsidiary of NRP. In March 2016, NRP Oil and Gas entered into an amendment to the RBL Facility (the “Fourth Amendment”) that included a $10.0 million repayment of principal, a $13.0 million reduction in borrowing capacity, and the easing or temporary easing of certain covenant requirements. Please see "Note 7. Debt and Debt—Affiliate" for further detail of the Fourth Amendment. While the Fourth Amendment alleviated certain covenant compliance issues, it did not change the fact that our current forecast indicates that NRP Oil and Gas may not be able to meet its leverage ratio during the next 12 months and that the borrowing base under the RBL Facility will be reduced by an amount greater than what NRP Oil and Gas would have the ability to pay within the required period of time. As a result, we believe there is substantial doubt about the ability of NRP Oil and Gas to continue as a going concern through March 31, 2017. In order to address this issue, we have initiated a process to sell all of NRP Oil and Gas' non-operating working interest properties in the Williston Basin within the next twelve months. As of March 31, 2016, we have classified the RBL Facility as Current portion of long-term debt, net on the Partnership's Consolidated Balance Sheets. An event of default under the RBL Facility and subsequent acceleration of that debt by the lenders thereunder would not result in a cross-default under the Indenture. NRP Oil and Gas is designated as an "Unrestricted Subsidiary" for purposes of the Indenture, which prevents an event of default under the RBL Facility and subsequent acceleration of that debt from triggering an event of default under the Indenture. In addition, there are no cross-defaults under the Opco Debt agreements as a result of a default under the RBL Facility. As a result, there would be no default or acceleration of indebtedness under the Indenture or under the Opco Debt agreements in the event NRP Oil and Gas is in default under the RBL Facility. Reverse Unit Split On January 26, 2016, the board of directors of our general partner approved a 1-for-10 reverse split on our common units, effective following market close on February 17, 2016. Pursuant to the authorization provided, the Partnership completed the 1-for-10 reverse unit split and its common units began trading on a reverse unit split-adjusted basis on the New York Stock Exchange on February 18, 2016. As a result of the reverse unit split, every 10 outstanding common units were combined into one common unit. The reverse unit split reduced the number of common units outstanding from 122.3 million units to 12.2 million units. All unit and per unit data included in these consolidated financial statements has been retroactively restated to reflect the reverse unit split. Recently Issued Accounting Standards Not Yet Adopted In May 2014, the Financial Accounting Standards Board ("FASB") amended its guidance on revenue recognition. The core principle of this amendment is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted for reporting periods beginning after December 15, 2016, including interim reporting periods within that period. This guidance can be adopted either retrospectively to each prior reporting period presented or as a cumulative-effect adjustment as of the date of adoption. The Partnership is currently evaluating the impact of the provisions of this guidance on its consolidated financial position, results of operations and cash flows. In August 2014, the FASB issued guidance on management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The guidance is effective for interim and annual periods ending after December 15, 2016 and early adoption is permitted. The new guidance will require a formal assessment of going concern by management based on criteria prescribed in the new guidance, but will not impact the Partnership's financial position or results of operations. The Partnership is reviewing its policies and processes to ensure compliance with this new guidance. In July 2015, the FASB issued authoritative guidance which intended to simplify the measurement of inventory. This guidance requires an entity to measure inventory at the lower of cost or net realizable value. The amendments do not apply to inventory that is measured using last-in, first-out or the retail inventory method. This guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, with early adoption permitted. This guidance should be applied on a prospective basis. The Partnership is currently evaluating the impact of the provisions of this guidance on its consolidated financial position, results of operations and cash flows. In February 2016, the FASB issued authoritative lease guidance that establishes a right-of-use ("ROU") model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The main difference between the current requirement under GAAP and the ROU model is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Partnership is currently evaluating the impact of the provisions of this guidance on its consolidated financial position, results of operations and cash flows. |
Segment Information
Segment Information | 3 Months Ended |
Mar. 31, 2016 | |
Segment Reporting [Abstract] | |
Segment Information | Segment Information Due to acquisitions that diversified our natural resource asset base, effective for the quarter ended December 31, 2015, management revised the Partnership's operating segments to align with its management structure and organizational responsibilities and revised the information that its chief operating decision maker regularly reviews for purposes of allocating resources and assessing performance. As a result, effective for the quarter ended December 31, 2015, we reported our financial performance based on the new segments as described below. The Partnership's segments are strategic business units that offer products and services to different customer segments in different geographies within the U.S. and that are managed accordingly. NRP has the following four operating segments: Coal, Hard Mineral Royalty and Other —consists primarily of coal royalty, coal related transportation and processing assets, aggregate and industrial minerals royalty assets and timber. Our coal reserves are primarily located in Appalachia, the Illinois Basin and the Western United States. Our aggregates and industrial minerals are located in a number of states across the United States. In February 2016, we sold aggregates reserves and related royalty rights at three aggregates operations located in Texas, Georgia and Tennessee. Soda Ash —consists of the Partnership's 49% non-controlling equity interest in a trona ore mining operation and soda ash refinery in the Green River Basin, Wyoming. Ciner Resources LP, our operating partner, mines the trona, processes it into soda ash, and distributes the soda ash both domestically and internationally into the glass and chemicals industries. We receive regular quarterly distributions from this business. VantaCore —consists of our construction materials business acquired in October 2014 that operates hard rock quarries, an underground limestone mine, sand and gravel plants, asphalt plants and marine terminals. VantaCore operates in Pennsylvania, West Virginia, Tennessee, Kentucky and Louisiana. Oil and Gas —consists of our non-operated working interests, royalty interests and overriding royalty interests in oil and natural gas properties. Our primary interests in oil and natural gas producing properties are non-operated working interests located in the Williston Basin in North Dakota and Montana. We also own fee mineral, royalty or overriding royalty interests in oil and gas properties in Oklahoma and Louisiana. In February 2016, we sold royalty and overriding royalty interests in several producing properties located in the Appalachian Basin. Direct segment costs and certain costs incurred at a corporate level that are identifiable and that benefit the Partnership's segments are allocated to the operating segments. These allocated costs include costs of: taxes, legal, information technology and shared facilities services and are included in Operating and maintenance expenses and Operating and maintenance expenses—affiliates on the Consolidated Statements of Comprehensive Income. Prior year general and administrative charges that are allocated to the operating segments have been reclassified to operating and maintenance expenses. Intersegment sales are at prices that approximate market. Corporate and Financing includes functional corporate departments that do not earn revenues. Costs incurred by these departments include corporate headquarters and overhead, financing, centralized treasury and accounting and other corporate-level activity not specifically allocated to a segment. The following table summarizes certain financial information for each of the Partnership's operating segments (in thousands): Operating Segments For the Three Months Ended Coal, Hard Mineral Royalty and Other Soda Ash VantaCore Oil and Gas Corporate and Financing Total For the three months ended March 31, 2016 Revenues (including affiliates) $ 39,045 $ 9,801 $ 24,682 $ 7,298 $ — $ 80,826 Intersegment revenues (expenses) 21 — (21 ) — — — Gain on asset sales 1,590 — — 20,335 — 21,925 Operating and maintenance expenses (including affiliates) 7,380 — 22,156 5,114 — 34,650 Depreciation, depletion and amortization 6,762 — 3,562 4,419 — 14,743 Asset impairment 1,893 — — 137 — 2,030 Interest expense, net — — — — (23,729 ) (23,729 ) Net income (loss) 24,600 9,801 (1,036 ) 17,963 (27,901 ) 23,427 For the three months ended March 31, 2015 Revenues (including affiliates) $ 53,510 $ 12,523 $ 26,799 $ 14,779 $ — $ 107,611 Gain on asset sales 1,615 — — 451 — 2,066 Operating and maintenance expenses (including affiliates) 8,414 — 25,434 6,649 — 40,497 Depreciation, depletion and amortization 10,016 — 3,856 11,520 — 25,392 Interest expense, net — — — — (22,928 ) (22,928 ) Net income (loss) 36,695 12,523 (2,491 ) (2,939 ) (26,299 ) 17,489 Total assets March 31, 2016 1,016,827 258,939 196,720 132,324 20,083 1,624,893 December 31, 2015 1,047,922 261,942 200,348 158,862 961 1,670,035 |
Equity Investment
Equity Investment | 3 Months Ended |
Mar. 31, 2016 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Investment | Equity Investment We account for our 49% investment in Ciner Wyoming LLC ("Ciner Wyoming", and formerly "OCI Wyoming LLC") using the equity method of accounting. Ciner Wyoming distributed $12.3 million and $10.9 million to us in the three months ended March 31, 2016 and 2015 , respectively. The difference between the amount at which the investment in Ciner Wyoming is carried and the amount of underlying equity in Ciner Wyoming's net assets was $153.6 million and $154.8 million as of March 31, 2016 and December 31, 2015 , respectively. This excess basis relates to plant, property and equipment and right to mine assets. The excess basis difference that relates to property, plant and equipment is being amortized into income using the straight-line method over a weighted average of 28 years . The excess basis difference that relates to right to mine assets is being amortized into income using the units of production method. Our equity in the earnings of Ciner Wyoming is summarized as follows (in thousands): Three Months Ended 2016 2015 (Unaudited) Income allocation to NRP’s equity interests $ 10,996 $ 13,727 Amortization of basis difference (1,195 ) (1,204 ) Equity in earnings of unconsolidated investment $ 9,801 $ 12,523 The results of Ciner Wyoming’s operations are summarized as follows (in thousands): Three Months Ended 2016 2015 (Unaudited) Sales $ 114,384 $ 120,430 Gross profit 28,251 32,724 Net Income 22,441 28,014 The financial position of Ciner Wyoming is summarized as follows (in thousands): March 31, December 31, (Unaudited) Current assets $ 139,185 $ 144,695 Noncurrent assets 233,236 233,845 Current liabilities 46,881 43,018 Noncurrent liabilities 110,518 116,808 The purchase agreement for the acquisition of the Partnership’s interest in Ciner Wyoming, formerly OCI Wyoming, required the Partnership to pay additional contingent consideration to Anadarko to the extent certain performance criteria described in the purchase agreement were met by Ciner Wyoming in any of the years 2013, 2014 or 2015. During the first quarters of 2014, 2015 and 2016, the Partnership paid contingent consideration of $0.5 million , $3.8 million and $7.2 million , respectively, in contingent consideration to Anadarko for performance criteria met by Ciner Wyoming in 2013, 2014 and 2015, respectively. The Partnership has no further contingent consideration payments due to Anadarko under the purchase agreement. |
Plant and Equipment
Plant and Equipment | 3 Months Ended |
Mar. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Plant and Equipment | Plant and Equipment The Partnership’s plant and equipment consist of the following (in thousands): March 31, December 31, (Unaudited) Plant and equipment at cost $ 77,565 $ 92,203 Construction in process 1,323 1,074 Less accumulated depreciation (21,444 ) (32,038 ) Total plant and equipment, net $ 57,444 $ 61,239 Depreciation expense related to the Partnership's plant and equipment totaled $3.4 million and $4.5 million for the three months ended March 31, 2016 and 2015, respectively. |
Mineral Rights
Mineral Rights | 3 Months Ended |
Mar. 31, 2016 | |
Extractive Industries [Abstract] | |
Mineral Rights | Mineral Rights The Partnership’s mineral rights consist of the following (in thousands): March 31, 2016 (Unaudited) Carrying Value Accumulated Depletion Net Book Value Coal, Hard Mineral Royalty and Other $ 1,269,633 $ (437,628 ) $ 832,005 VantaCore 112,700 (3,475 ) 109,225 Oil and Gas 136,392 (16,793 ) 119,599 Total $ 1,518,725 $ (457,896 ) $ 1,060,829 December 31, 2015 Carrying Value Accumulated Depletion Net Book Value Coal, Hard Mineral Royalty and Other $ 1,278,274 $ (432,260 ) $ 846,014 VantaCore 112,700 (3,082 ) 109,618 Oil and Gas 155,293 (16,898 ) 138,395 Total $ 1,546,267 $ (452,240 ) $ 1,094,027 Depletion expense related to the Partnership’s mineral rights totaled $10.3 million and $19.9 million for the three months ended March 31, 2016 and 2015 , respectively. Sales of Royalty Properties As discussed in Note 1. "Basis of Presentation," we are currently pursuing or considering a number of actions, including dispositions of assets, in order to mitigate the effects of further commodity price and market deterioration which could otherwise cause us to breach financial covenants under our debt agreements. As part of this plan, the Partnership sold the following assets during the three months ended March 31, 2016: 1) Oil and gas royalty and overriding royalty interests in several producing properties located in the Appalachian Basin for $37.5 million . The effective date of the sale was January 1, 2016, and the Partnership recorded a $20.3 million gain from this sale included in Gain on asset sales on its Consolidated Statement of Comprehensive Income. 2) Hard mineral reserves and related royalty rights at three aggregates operations located in Texas, Georgia and Tennessee for $10.0 million . The effective date of the sale was February 1, 2016, and the Partnership recorded a $1.6 million gain from this sale included in Gain on asset sales on its Consolidated Statement of Comprehensive Income. |
Intangible Assets (Including Af
Intangible Assets (Including Affiliate) | 3 Months Ended |
Mar. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets (Including Affiliate) | Intangible Assets (Including Affiliate) The Partnership's intangible assets—affiliate relate to above market coal transportation contracts with subsidiaries of Foresight Energy LP ("Foresight Energy") in which we receive throughput fees for the handling and transportation of coal. March 31, December 31, (Unaudited) Intangible assets—affiliate $ 81,109 $ 81,109 Less accumulated amortization—affiliate (28,835 ) (28,112 ) Total intangible assets, net—affiliate $ 52,274 $ 52,997 Amortization expense related to the Partnership's intangible assets—affiliate totaled $0.7 million and $0.8 million for the three months ended March 31, 2016 and 2015, respectively. The Partnership's intangible assets consist of permits, aggregate-related trade names and other agreements as follows (in thousands): March 31, December 31, (Unaudited) Intangible assets 5,076 5,076 Less accumulated amortization (1,375 ) (1,146 ) Total intangible assets, net $ 3,701 $ 3,930 Amortization expense related to the Partnership's intangible assets totaled $0.2 million for both the three months ended March 31, 2016 and 2015. |
Debt and Debt - Affiliate
Debt and Debt - Affiliate | 3 Months Ended |
Mar. 31, 2016 | |
Debt Disclosure [Abstract] | |
Debt and Debt—Affiliate | Debt and Debt—Affiliate As of March 31, 2016 and December 31, 2015, debt and debt—affiliate consisted of the following (in thousands): March 31, December 31, (Unaudited) NRP LP debt: 9.125% senior notes, with semi-annual interest payments in April and October, due October 2018, $300 million issued at 99.007% and $125 million issued at 99.5% $ 425,000 $ 425,000 Opco debt (1): $300 million floating rate revolving credit facility, due October 2017 290,000 290,000 4.91% senior notes, with semi-annual interest payments in June and December, with annual principal payments in June, due June 2018 13,850 13,850 8.38% senior notes, with semi-annual interest payments in March and September, with annual principal payments in March, due March 2019 64,286 85,714 5.05% senior notes, with semi-annual interest payments in January and July, with annual principal payments in July, due July 2020 38,462 38,462 5.31% utility local improvement obligation, with annual principal and interest payments in February, due March 2021 960 1,153 5.55% senior notes, with semi-annual interest payments in June and December, with annual principal payments in June, due June 2023 21,600 21,600 4.73% senior notes, with semi-annual interest payments in June and December, with annual principal payments in December, due December 2023 60,000 60,000 5.82% senior notes, with semi-annual interest payments in March and September, with annual principal payments in March, due March 2024 120,000 135,000 8.92% senior notes, with semi-annual interest payments in March and September, with annual principal payments in March, due March 2024 36,364 40,909 5.03% senior notes, with semi-annual interest payments in June and December, with annual principal payments in December, due December 2026 148,077 148,077 5.18% senior notes, with semi-annual interest payments in June and December, with annual principal payments in December, due December 2026 42,308 42,308 NRP Oil and Gas debt: Reserve-based revolving credit facility due November 2019 75,000 85,000 Total debt at face value $ 1,335,907 $ 1,387,073 Net unamortized debt discount (1,889 ) (2,077 ) Net unamortized debt issuance costs (1) (12,683 ) (14,040 ) Total debt, net $ 1,321,335 $ 1,370,956 Less: current portion of long-term debt 154,441 80,745 Total long-term debt $ 1,166,894 $ 1,290,211 (1) See Note 1. " Basis of Presentation" for discussion of debt issuance costs reclassification upon adoption of new accounting standard on January 1, 2016. NRP Debt NRP Senior Notes In September 2013, NRP, together with NRP Finance Corporation ("NRP Finance"), a wholly owned subsidiary of NRP, as co-issuer, issued $300.0 million of 9.125% Senior Notes due 2018 at an offering price of 99.007% of par (the "NRP Senior Notes"). Net proceeds after expenses from the issuance of NRP Senior Notes were approximately $289.0 million . The NRP Senior Notes call for semi-annual interest payments on April 1 and October 1 of each year, and will mature on October 1, 2018. In October 2014, NRP, together with NRP Finance as co-issuer, issued an additional $125.0 million of the NRP Senior Notes at an offering price of 99.5% of par. The additional issuance constituted the same series of securities as the existing NRP Senior Notes. Net proceeds of $122.6 million from the additional issuance of the NRP Senior Notes were used to fund a portion of the purchase price of NRP’s acquisition of non-operated working interests in oil and gas assets located in the Williston Basin in North Dakota. NRP and NRP Finance have the option to redeem the NRP Senior Notes, in whole or in part, at any time on or after April 1, 2016, at fixed redemption prices specified in the indenture governing the NRP Senior Notes (the "Indenture"). The Indenture contains covenants that, among other things, limit the ability of NRP and certain of its subsidiaries to incur or guarantee additional indebtedness. Under the Indenture, NRP and certain of its subsidiaries generally are not permitted to incur additional indebtedness unless, on a consolidated basis, the fixed charge coverage ratio (as defined in the indenture) is at least 2.0 to 1.0 for the four preceding full fiscal quarters. The ability of NRP and certain of its subsidiaries to incur additional indebtedness is further limited in the event the amount of indebtedness of NRP and certain of its subsidiaries that is senior to NRP’s unsecured indebtedness exceeds certain thresholds. As of March 31, 2016 and December 31, 2015, NRP was in compliance with the terms of the covenants contained under the Indenture. Opco Debt All of Opco’s debt is guaranteed by its wholly owned subsidiaries and is secured by certain of the assets of Opco and its wholly owned subsidiaries other than NRP Trona LLC, as further described below. As of March 31, 2016 and December 31, 2015, Opco was in compliance with the terms of the financial covenants contained in its debt agreements. Revolving Credit Facility In June 2015, Opco entered into a $300.0 million Third Amended and Restated Credit Agreement (the "A&R Revolving Credit Facility"), which amended and restated Opco’s $300.0 million Second Amended and Restated Credit Agreement due August 2016. The A&R Revolving Credit Facility matures on October 2, 2017 , is guaranteed by all of Opco’s wholly owned subsidiaries, and is secured by liens on certain of the assets of Opco and its subsidiaries, as further described below. Initially, indebtedness under the A&R Revolving Credit Facility bore interest, at Opco's option, at a rate of either: • the higher of (i) the prime rate as announced by the agent bank; (ii) the federal funds rate plus 0.50% ; or (iii) LIBOR plus 1% , in each case plus 2.375% ; or • a rate equal to LIBOR plus 3.375% Subsequent to the delivery of financial statements for the year ended December 31, 2015 to the lenders in March 2016, indebtedness under the A&R Revolving Credit Facility bears interest, at Opco's option, at a rate of either: • the higher of (i) the prime rate as announced by the agent bank; (ii) the federal funds rate plus 0.50% ; or (iii) LIBOR plus 1% , in each case plus an applicable margin ranging from 1.50% to 2.50% or • a rate equal to LIBOR plus an applicable margin ranging from 2.50% to 3.50% The weighted average interest rates for the borrowings outstanding under the A&R Revolving Credit Facility for the three months ended March 31, 2016 and 2015 were 3.80% and 1.94% , respectively. Opco will incur a commitment fee on the unused portion of the revolving credit facility at a rate of 0.50% per annum. Opco may prepay all amounts outstanding under the A&R Revolving Credit Facility at any time without penalty. The A&R Revolving Credit Facility contains financial covenants requiring Opco to maintain: • a leverage ratio of consolidated indebtedness to consolidated EBITDDA (as defined in the A&R Revolving Credit Facility) not to exceed: ◦ 4.0 to 1.0 for each fiscal quarter ending on or before March 31, 2016; ◦ 3.75 to 1.0 for each subsequent fiscal quarter ending on or before March 31, 2017; and ◦ 3.5 to 1.0 for each fiscal quarter ending on or after June 30, 2017; and • a ratio of consolidated EBITDDA to consolidated fixed charges (consisting of consolidated interest expense and consolidated lease expense) of not less than 3.5 to 1.0. As of March 31, 2016, Opco's leverage ratio was 3.09x , and fixed charge coverage ratio was 5.43 x. The A&R Revolving Credit Facility contains certain additional customary negative covenants that, among other items, restrict Opco’s ability to incur additional debt, grant liens on its assets, make investments, sell assets and engage in business combinations. Included in the investment covenant are restrictions upon Opco’s ability to acquire assets where Opco does not maintain certain levels of liquidity. The A&R Revolving Credit Facility also contains customary events of default, including cross-defaults under Opco’s senior notes (as described below). The A&R Revolving Credit Facility is collateralized and secured by liens on certain of Opco’s assets with a carrying values of $698.1 million and $709.9 million classified as Land, Mineral rights and Plant and equipment on the Partnership’s Consolidated Balance Sheet as of March 31, 2016 and December 31, 2015, respectively. The collateral includes (1) the equity interests in all of Opco’s wholly owned subsidiaries, other than NRP Trona LLC (which owns a 49% non-controlling equity interest in Ciner Wyoming), (2) the personal property and fixtures owned by Opco’s wholly owned subsidiaries, other than NRP Trona LLC, (3) Opco’s material coal royalty revenue producing properties, (4) real property associated with certain of VantaCore’s construction aggregates mining operations, and (5) certain of Opco’s coal-related infrastructure assets. Opco Senior Notes Opco has issued several series of private placement senior notes (the “Opco Senior Notes") with various interest rates and principal due dates. As of March 31, 2016, and December 31, 2015, the Opco Senior Notes had cumulative principal balances of $544.9 million and $585.9 million , respectively. Opco made principal payments of $41.0 million on the Opco Senior Notes during each of the three months ended March 31, 2016 and 2015. The Note Purchase Agreements relating to the Opco Senior Notes contain covenants requiring Opco to: • maintain a ratio of consolidated indebtedness to consolidated EBITDDA (as defined in the note purchase agreement) of no more than 4.0 to 1.0 for the four most recent quarters; • not permit debt secured by certain liens and debt of subsidiaries to exceed 10% of consolidated net tangible assets (as defined in the note purchase agreement); and • maintain the ratio of consolidated EBITDDA (as defined in the note purchase agreement) to consolidated fixed charges (consisting of consolidated interest expense and consolidated operating lease expense) at not less than 3.5 to 1.0. The 8.38% and 8.92% Opco Senior Notes also provide that in the event that Opco’s leverage ratio of consolidated indebtedness to consolidated EBITDDA (as defined in the Note Purchase Agreements) exceeds 3.75 to 1.00 at the end of any fiscal quarter, then in addition to all other interest accruing on these notes, additional interest in the amount of 2.00% per annum shall accrue on the notes for the two succeeding quarters and for as long thereafter as the leverage ratio remains above 3.75 to 1.00. Opco has not exceeded the 3.75 to 1.00 ratio at the end of any fiscal quarter through March 31, 2016. In connection with the entry into the A&R Revolving Credit Facility in June 2015, Opco entered into the Third Amendment to the Note Purchase Agreements (the "NPA Amendment") that provides for the security of the Opco Senior Notes by the same collateral package pledged by Opco and its subsidiaries to secure the A&R Revolving Credit Facility, as described above. In addition, the NPA Amendment includes a covenant that provides that, in the event Opco or any of its subsidiaries is subject to any additional or more restrictive covenants under the agreements governing its material indebtedness (including the A&R Revolving Credit Facility, and all renewals, amendments or restatements thereof), such covenants shall be deemed to be incorporated by reference in the Opco Senior Notes and the holders of the Opco Senior Notes shall receive the benefit of such additional or more restrictive covenants to the same extent as the lenders under such material indebtedness agreement. NRP Oil and Gas Debt The RBL Facility At March 31, 2016 and December 31, 2015, there was $75.0 million and $85.0 million respectively, outstanding under the RBL Facility. NRP Oil and Gas was in compliance with the terms of the covenants contained in the RBL Facility as of both March 31, 2016 and December 31, 2015. In August 2013, NRP Oil and Gas entered into the RBL Facility, a 5 -year, $100.0 million senior secured, reserve-based revolving credit facility, in order to fund capital expenditure requirements related to the development of the oil and gas assets in which it owns non-operated working interests. In connection with the closing of the Sanish Field acquisition in November 2014, the RBL Facility was amended to increase its size to $500.0 million with an initial borrowing base of $137.0 million , and the maturity date thereof was extended to November 2019 . The RBL Facility is secured by a first priority lien and security interest in substantially all of the assets of NRP Oil and Gas. NRP Oil and Gas is the sole obligor under the RBL Facility, and neither the Partnership nor any of its other subsidiaries is a guarantor of the RBL Facility. The maximum amount available under the RBL Credit Facility is subject to semi-annual redeterminations of the borrowing base in May and November of each year, based on the value of the proved oil and natural gas reserves of NRP Oil and Gas, in accordance with the lenders’ customary procedures and practices. NRP Oil and Gas and the lenders each have a right to one additional redetermination each year. In April 2015, the lenders completed their semi-annual redetermination of the borrowing base under the RBL Credit Facility and the $137.0 million borrowing base was redetermined to $105.0 million . In October 2015, the lenders under the RBL Credit Facility completed their semi-annual redetermination and the $105.0 million borrowing base was redetermined to $88.0 million . The Company repaid $25.0 million of outstanding borrowings under the RBL Credit Facility during the year ended December 31, 2015. At December 31, 2015, there was $85.0 million outstanding under the RBL Credit Facility. In March 2016, the Company entered into an amendment to the RBL Facility (the “Fourth Amendment”) and repaid $10.0 million thereunder, which reduced the outstanding balance thereunder to $75.0 million . In connection with such repayment, the borrowing base under the RBL Facility was reduced from $88.0 million to $75.0 million in lieu of the May 2016 borrowing base redetermination. Per the Fourth Amendment, the borrowing base will be reduced to $70.0 million on August 1, 2016, and to $50.0 million on October 1, 2016, with any outstanding amounts under the RBL Facility in excess of the reduced principal amounts due and payable on their respective day. The next scheduled redetermination of the borrowing base under the RBL Facility will occur in November 2016. The Fourth Amendment amends the financial covenants contained in the RBL Facility as follows: • The maximum total leverage ratio (defined as the ratio of the total debt to EBITDAX) will be increased from 3.5 x to 4.0 x at March 31, 2016 and 4.5 x at June 30, 2016. Thereafter, the total leverage ratio will decrease to 3.5 x for the remainder of the term of the RBL Facility. • The minimum current ratio will decrease from 1.0 x to 0.75 x at March 31, 2016 and June 30, 2016 and revert to 1.0 x thereafter for the remainder of the term of the RBL Facility. As of March 31, 2016, NRP Oil and Gas' leverage ratio was 3.10 x, and current ratio was 1.94 x. In addition, effective on the date of the Fourth Amendment, indebtedness under the RBL Facility bears interest, at the Company's option, at: • the higher of (i) the prime rate as announced by the agent bank; (ii) the federal funds rate plus 0.50% ; or (iii) LIBOR plus 4.0% ; or • a rate equal to LIBOR, plus an applicable margin of 4.0% The commitment fee on the unused portion of the borrowing base under the RBL Facility was also amended to be a flat 0.50% fee. The Fourth Amendment contains several other amendments, including a requirement for NRP Oil and Gas to pay down the RBL Facility each month with excess cash flow (which amounts may not be reborrowed and will result in a corresponding reduction in the borrowing base) and a requirement to use the net proceeds of any asset sales to repay the RBL Facility (which amounts may not be reborrowed and will result in a corresponding reduction in the borrowing base). In addition, the Fourth Amendment waives the delivery of 2015 audited financial statements containing an audit opinion containing "a "going concern" or like qualification or exception" as an event of default under the RBL Facility. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements The Partnership’s financial instruments consist of cash and cash equivalents, accounts receivable, contracts receivable—affiliate, accounts payable and debt. The carrying amounts reported on the Partnership's Consolidated Balance Sheets for cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to their short-term nature. The Partnership used quotations obtained for comparable instruments on the closing trading prices near period end to determine the fair value of its contracts receivable—affiliate, which resulted in a Level 3 fair value measurement. The estimated fair value of the Partnership's contracts receivable—affiliate was $3.7 million and $4.2 million at March 31, 2016 and December 31, 2015, respectively. The following table (in thousands) shows the face and estimated fair values of the Partnership's debt and debt—affiliate: March 31, 2016 December 31, 2015 Debt at Face Value Estimated Fair Value Debt at Face Value Estimated Fair Value (Unaudited) NRP Senior Notes (1) $ 425,000 $ 272,000 $ 425,000 $ 277,313 Opco Senior Notes and utility local improvement obligation (2) 545,907 349,380 587,073 383,065 Opco Revolving Credit Facility (3) 290,000 290,000 290,000 290,000 NRP Oil and Gas RBL Facility (3) 75,000 75,000 85,000 85,000 (1) The Level 1 fair value is based upon quotations obtained for identical instruments on the closing trading prices near period end. (2) The Level 3 fair value is estimated by management using quotations obtained for comparable instruments on the closing trading prices near period end. (3) The Level 3 fair value approximates the carrying amount because the interest rates are variable and reflective of market rates and the terms of the credit facility allow the Partnership to repay this debt at any time without penalty. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Mar. 31, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related Party Transactions Reimbursements to Affiliates of our General Partner The Partnership’s general partner does not receive any management fee or other compensation for its management of Natural Resource Partners L.P. However, in accordance with the partnership agreement, the general partner and its affiliates are reimbursed for services provided to the Partnership and for expenses incurred on the Partnership’s behalf. Employees of Quintana Minerals Corporation ("QMC") and Western Pocahontas Properties Limited Partnership ("WPPLP"), affiliates of the Partnership, provide their services to manage the Company's business. QMC and WPPLP charge the Partnership the portion of their employee salary and benefits costs related to their employee services provided to NRP. In addition, the Partnership receives non-cash equity contributions from its general partner related to compensation paid directly by the general partner and not reimbursed by the Partnership. These amounts are presented as non-cash equity contributions on the Partnership's Consolidated Statements of Partners' Capital. These QMC and WPPLP employee management service costs and non-cash equity compensation expenses are presented as Operating and maintenance expenses—affiliates, net and General and administrative—affiliates on the Consolidated Statements of Comprehensive Income. NRP also reimburses overhead costs incurred by its affiliates to manage the Partnership's business. These overhead costs include certain legal, accounting, treasury, information technology, insurance, administration of employee benefits and other corporate services incurred by the Partnership’s general partner and its affiliates and are presented as Operating and maintenance expenses—affiliates, net and General and administrative—affiliates on the Consolidated Statements of Comprehensive Income. The Partnership had Accounts payable—affiliates to Quintana Minerals Corporation of $0.6 million and $1.1 million at March 31, 2016 and December 31, 2015, respectively, for services provided by Quintana Minerals Corporation to the Partnership. The Partnership had Accounts payable—affiliates to WPPLP of $0.6 million and $0.3 million at March 31, 2016 and December 31, 2015, respectively. Direct general and administrative expenses charged to the Partnership by WPPLP and Quintana Minerals Corporation are as follows (in thousands): Three Months Ended 2016 2015 (Unaudited) Operating and maintenance expenses—affiliates, net $ 2,776 $ 2,702 General and administrative—affiliates 937 1,084 Cline Affiliates Various companies controlled by Chris Cline, including Foresight Energy LP ("Foresight Energy"), lease coal reserves from the Partnership, and the Partnership also leases coal transportation assets to them for a fee. Mr. Cline, both individually and through another affiliate, Adena Minerals, LLC, owns a 31% interest in the NRP's general partner, as well as approximately 0.5 million of NRP's common units at March 31, 2016. Coal related revenues from Foresight Energy totaled $10.1 million and $18.3 million for the three months ended March 31, 2016 and 2015, respectively. As of March 31, 2016 and December 31, 2015, the Partnership had Accounts receivable—affiliates from Foresight Energy of $7.4 million and $6.4 million , respectively. The Partnership had recorded $81.6 million and $82.6 million in minimum royalty payments as Deferred revenue—affiliates at March 31, 2016 and December 31, 2015, respectively. The Partnership owns and leases rail load out and associated facilities to Foresight Energy at Foresight Energy's Sugar Camp mine. The lease agreement is accounted for as a direct financing lease. Total projected remaining payments under the lease at March 31, 2016 were $80.2 million with unearned income of $34.5 million , and the net amount receivable was $45.7 million , of which $2.1 million is included in Accounts receivable—affiliates while the remaining is included in Long-term contracts receivable—affiliate on the accompanying Consolidated Balance Sheets. Total projected remaining payments under the lease at December 31, 2015 were $81.2 million with unearned income of $35.4 million and the net amount receivable was $45.9 million , of which $2.0 million is included in Accounts receivable—affiliates while the remaining is included in Long-term contracts receivable—affiliates on the accompanying Consolidated Balance Sheets. The Partnership holds a contractual overriding royalty interest from a subsidiary of Foresight Energy that provides for payments based upon production from specific tons at Foresight Energy's Sugar Camp operations. This overriding royalty was accounted for as a financing arrangement and is reflected as an affiliate receivable. The net amount receivable under the agreement as of March 31, 2016 was $4.5 million , of which $2.2 million is included in Accounts receivable—affiliates while the remaining is included in Long-term contracts receivable—affiliate. The net amount receivable under the agreement as of December 31, 2015 was $4.9 million , of which $1.5 million is included in Accounts receivable—affiliates while the remaining is included in Long-term contracts receivable—affiliate on the accompanying Consolidated Balance Sheets. Long-Term Debt—Affiliate Cline Trust Company, LLC owns approximately 0.54 million of the Partnership’s common units and $20.0 million in principal amount of the Partnership’s 9.125% Senior Notes due 2018. The members of the Cline Trust Company are four trusts for the benefit of the children of Chris Cline, each of which owns an approximately equal membership interest in the Cline Trust Company. Cline Trust Company, LLC purchased the $20.0 million of the Partnership’s 9.125% Senior Notes due 2018 in the Partnership’s offering of $125.0 million additional principal amount of such notes in October 2014 at the same price as the other purchasers in that offering. The balance on this portion of the Partnership’s 9.125% Senior Notes due 2018 was $19.9 million as of March 31, 2016 and is included in Long-term debt, net—affiliate on the accompanying Consolidated Balance Sheet. Quintana Capital Group GP, Ltd. Corbin J. Robertson, Jr. is a principal in Quintana Capital Group GP, Ltd. ("Quintana Capital"), which controls several private equity funds focused on investments in the energy business. In connection with the formation of Quintana Capital, the Partnership adopted a formal conflicts policy that establishes the opportunities that will be pursued by the Partnership and those that will be pursued by Quintana Capital. The governance documents of Quintana Capital’s affiliated investment funds reflect the guidelines set forth in the Partnership's conflicts policy. At March 31, 2016, a fund controlled by Quintana Capital owned a majority interest in Corsa Coal Corp. ("Corsa"), a coal mining company traded on the TSX Venture Exchange that is one of the Partnership’s lessees in Tennessee. Corbin J. Robertson III, one of the Partnership’s directors, is Chairman of the Board of Corsa. Coal related revenues from Corsa totaled $0.5 million and $0.8 million for the three months ended March 31, 2016 and 2015, respectively. The Partnership had recorded $0.3 million in minimum royalty payments as Deferred revenue—affiliates at both March 31, 2016 and December 31, 2015. The Partnership also had Accounts receivable—affiliates totaling $0.1 million and $0.2 million from Corsa at March 31, 2016 and December 31, 2015, respectively. WPPLP Production Royalty and Overriding Royalty For the three months ended March 31, 2016, the Partnership recorded $0.6 million in operating and maintenance expenses—affiliates related to a non-participating production royalty payable to WPPLP pursuant to a conveyance agreement entered into in 2007. These charges were zero for the three months ended March 31, 2015. The Partnership had Other assets—affiliate from WPPLP of $0.5 million and $1.1 million at March 31, 2016 and December 31, 2015, respectively related to a non-production royalty receivable from WPPLP for overriding royalty interest on a mine. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Legal The Partnership is involved, from time to time, in various legal proceedings arising in the ordinary course of business. While the ultimate results of these proceedings cannot be predicted with certainty, Partnership management believes these claims will not have a material effect on the Partnership’s financial position, liquidity or operations. Since 2013, several citizen group lawsuits have been filed against landowners alleging ongoing discharges of pollutants, including selenium and conductivity, from valley fills located at reclaimed mountaintop removal mining sites in West Virginia. In each case, the mine on the subject property had been closed, the property had been reclaimed, and the state reclamation bond had been released. Any determination that a landowner or lessee has liability for discharges from a previously reclaimed mine site could result in substantial compliance costs or fines and would result in uncertainty as to continuing liability for completed and reclaimed coal mine operations. A subsidiary of the Partnership has been named as a defendant in one of these lawsuits. Given the early stage of this ongoing litigation, the Partnership currently cannot reasonably estimate a range of potential loss, if any, related to this matter. Foresight Energy Disputes On November 24, 2015, we filed a lawsuit against Foresight Energy’s subsidiary, Hillsboro Energy LLC ("Hillsboro"), in the Circuit Court of the Fourth Judicial Circuit in Montgomery County, Illinois. The lawsuit alleges, among other items, breach of contract by Hillsboro resulting from a wrongful declaration of force majeure at Hillsboro’s Deer Run mine in July 2015. In late March 2015, elevated carbon monoxide readings were detected at the Deer Run mine, and coal production at the mine was idled. In July 2015, we received the notice declaring a force majeure event at the mine as a result of the elevated carbon monoxide levels. The effect of a valid force majeure declaration would relieve Foresight Energy of its obligation to pay us minimum deficiency payments of $7.5 million per quarter, or $30.0 million per year. Foresight Energy's failure to make the deficiency payment with respect to 2015 and first quarter of 2016 resulted in a $23.6 million cash impact to us. Such amount will increase for each quarter during which mining operations continue to be idled. We do not currently have an estimate as to when the mine will resume coal production. If the mine remains idled for an extended period or if the mine is permanently closed, our financial condition could be adversely affected. On April 1, 2016, we filed a lawsuit against Macoupin Energy, LLC (“Macoupin”), a subsidiary of Foresight Energy, in Macoupin County, Illinois. The lawsuit alleges that Macoupin has failed to comply with the terms of its coal mining, rail loadout and rail loop leases by incorrectly recouping previously paid minimum royalties. Foresight Energy’s failure to properly calculate its recoupable balance and failure to make payments in accordance with these lease agreements with respect to the third and fourth quarters of 2015 and the first quarter of 2016 resulted in a $4.7 million negative cash impact to us. While the Partnership plans to pursue its claim, a valuation allowance for the receivable amount has been recorded given the early stage of this ongoing litigation. It is possible that the Partnership’s current estimate of the valuation allowance related to this matter could change, perhaps materially, in the future. |
Major Customers
Major Customers | 3 Months Ended |
Mar. 31, 2016 | |
Risks and Uncertainties [Abstract] | |
Major Customers | Major Customers Revenues from Foresight Energy represented $10.1 million , or 9.8% and $18.3 million , or 16.7% of total revenues and other income for the three months ended March 31, 2016 and 2015, respectively. The revenues from Foresight Energy are spread out over a number of different mining operations and leases. No other customers exceeded ten percent of total revenues and other income during the first quarter of 2016 or 2015. |
Unit-Based Compensation
Unit-Based Compensation | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Unit-Based Compensation | Unit-Based Compensation At the time of our initial public offering, GP Natural Resource Partners LLC adopted the Natural Resource Partners Long-Term Incentive Plan (the "Long-Term Incentive Plan") for directors of GP Natural Resource Partners LLC and employees of its affiliates who perform services for the Partnership. The Compensation, Nominating and Governance Committee ("CNG Committee") of GP Natural Resource Partners LLC’s board of directors administers the Long-Term Incentive Plan and has historically approved annual awards of phantom units that vest four years from the date of grant. In February 2016, the CNG Committee adopted and the Board approved a new cash-based long-term incentive plan to the employees of its affiliates who perform services for the Partnership. Subject to the rules of the exchange upon which the common units are listed at the time, the board of directors and the compensation committee of the board of directors have the right to alter or amend the Long-Term Incentive Plan or any part of the Long-Term Incentive Plan from time to time. Except upon the occurrence of unusual or nonrecurring events, no change in any outstanding grant may be made that would materially reduce the benefit intended to be made available to a participant without the consent of the participant. Phantom units are incentive based equity awards issued to employees over a vesting period that entitle the grantee to receive the cash equivalent to the value of a unit of our common units upon each vesting. The Partnership records compensation cost equal to the fair value of the award at the measurement date, which is determined to be the earlier of the performance commitment date or the service completion date. In addition, compensation cost for unvested phantom unit awards is adjusted quarterly for any changes in the Partnership’s unit price. Under the plan a grantee will receive the market value of a common unit in cash upon vesting. Market value is defined as the average closing price over the 20 trading days prior to the vesting date. The compensation committee may make grants under the Long-Term Incentive Plan to employees and directors containing such terms as it determines, including the vesting period. Outstanding grants vest upon a change in control of the Partnership, the general partner, or GP Natural Resource Partners LLC. If a grantee’s employment or membership on the board of directors terminates for any reason, outstanding grants will be automatically forfeited unless and to the extent the compensation committee provides otherwise. In connection with the phantom unit awards, the Compensation, Nominating and Governance Committee also granted tandem Distribution Equivalent Rights ("DERs"), which entitle the holders to receive distributions equal to the distributions paid on the Partnership’s common units between the date the units are granted and the vesting date. The DERs are payable in cash upon vesting but may be subject to forfeiture if the grantee ceases employment prior to vesting. A summary of activity in the outstanding grants during 2016 is as follows (in thousands): Phantom Units Outstanding grants at January 1, 2016 126 Grants during the period — Grants vested and paid during the period (28 ) Forfeitures during the period (3 ) Outstanding grants at March 31, 2016 95 Grants typically vest at the end of a four -year period and are paid in cash upon vesting. The Partnership recorded a credit to general and administrative expenses related to its Long-Term Incentive Plan of less than $0.1 million and $0.1 million for the three months ended March 31, 2016 and 2015, respectively, due to the decline in the market price of the Partnership's common units. In connection with the Long-Term Incentive Plan, payments are typically made during the first quarter of the year. Payments of $1.5 million and $4.4 million were made during the three months ended March 31, 2016 and 2015, respectively. The unaccrued cost associated with unvested outstanding grants and related DERs at March 31, 2016 and December 31, 2015, was $0.4 million and $0.7 million , respectively. |
Cash Distributions
Cash Distributions | 3 Months Ended |
Mar. 31, 2016 | |
Equity [Abstract] | |
Cash Distributions | Cash Distributions The following table shows the distributions paid by the Partnership during the three months ended March 31, 2016 and 2015: Total Distributions (In thousands) Date Paid Period Covered by Distribution Distribution per Common Unit Common Units GP Interest Total 2016 February 12, 2016 October 1 - December 31, 2015 $ 0.45 $ 5,503 $ 113 $ 5,616 2015 February 13, 2015 October 1 - December 31, 2014 $ 3.50 $ 42,804 $ 874 $ 43,678 |
Supplementary Unrestricted Subs
Supplementary Unrestricted Subsidiary Information | 3 Months Ended |
Mar. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Supplementary Unrestricted Subsidiary Information | Supplementary Unrestricted Subsidiary Information The following is presented as supplementary data as required by the Indenture governing the NRP Senior Notes. As described in Note 1. "Basis of Presentation", in February 2016, the Partnership designated NRP Oil and Gas as an Unrestricted Subsidiary for purposes of the Indenture. In addition, the Partnership has designated BRP LLC, a joint venture in which the Partnership owns a 51% interest, and Coval Leasing Company, LLC, a wholly owned subsidiary of BRP LLC, as Unrestricted Subsidiaries for purposes of the Indenture. The information below may not necessarily be indicative of the results of operations, or financial position had the subsidiaries operated as independent entities. There were no transactions between the Partnership's Restricted Subsidiaries and its Unrestricted Subsidiaries. In accordance with the requirements of the Indenture, the following condensed consolidating financial information presents the financial condition and results of operations of the Partnership and its Restricted Subsidiaries and its Unrestricted Subsidiaries: CONDENSED CONSOLIDATING BALANCE SHEETS (in thousands) March 31, 2016 Unrestricted Subsidiaries of NRP NRP and its Restricted Subsidiaries Eliminations Total ASSETS Current assets (including affiliates) $ 10,101 $ 109,133 $ (217 ) $ 119,017 Mineral rights, net 131,905 928,924 — 1,060,829 Equity in unconsolidated investment — 258,939 — 258,939 Other non-current assets (including affiliates) 734 185,374 — 186,108 Total assets $ 142,740 $ 1,482,370 $ (217 ) $ 1,624,893 LIABILITIES AND CAPITAL Current portion of long-term debt, net $ 73,696 $ 80,745 $ — $ 154,441 Other current liabilities (including affiliates) 6,217 42,636 (27 ) 48,826 Long-term debt, net (including affiliate) — 1,166,894 — 1,166,894 Other non-current liabilities (including affiliates) 4,778 159,679 — 164,457 Partners' capital 61,494 32,365 (190 ) 93,669 Non-controlling interest (3,445 ) 51 — (3,394 ) Total liabilities and capital $ 142,740 $ 1,482,370 $ (217 ) $ 1,624,893 December 31, 2015 Unrestricted Subsidiaries of NRP NRP and its Restricted Subsidiaries Eliminations Total ASSETS Current assets (including affiliates) $ 21,540 $ 100,178 $ (589 ) $ 121,129 Mineral rights, net 134,445 959,582 — 1,094,027 Equity in unconsolidated investment — 261,942 — 261,942 Other non-current assets (including affiliates) (1) 887 192,050 — 192,937 Total assets $ 156,872 $ 1,513,752 $ (589 ) $ 1,670,035 LIABILITIES AND CAPITAL Current portion of long-term debt, net (1) $ — $ 80,745 $ — $ 80,745 Other current liabilities (including affiliates) 7,351 48,356 (43 ) 55,664 Long-term debt, net (including affiliate) (1) 83,600 1,206,611 — 1,290,211 Other non-current liabilities (including affiliates) 4,703 165,770 — 170,473 Partners' capital 64,663 12,219 (546 ) 76,336 Non-controlling interest (3,445 ) 51 — (3,394 ) Total liabilities and capital $ 156,872 $ 1,513,752 $ (589 ) $ 1,670,035 (1) See Note 1. " Basis of Presentation" for discussion of debt issuance costs reclassification upon adoption of new accounting standard on January 1, 2016. CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (in thousands) Three Months Ended March 31, 2016 Unrestricted Subsidiaries of NRP NRP and its Restricted Subsidiaries Total Revenues $ 7,323 $ 95,428 $ 102,751 Operating expenses 9,401 46,194 55,595 Income (loss) from operations (2,078 ) 49,234 47,156 Other expense, net 1,090 22,639 23,729 Net income (loss) (3,168 ) 26,595 23,427 Add: comprehensive loss from unconsolidated investment and other — (545 ) (545 ) Comprehensive income (loss) $ (3,168 ) $ 26,050 $ 22,882 Three Months Ended March 31, 2015 Unrestricted Subsidiaries of NRP NRP and its Restricted Subsidiaries Total Revenues $ 14,900 $ 94,777 $ 109,677 Operating expenses 16,748 52,512 69,260 Income (loss) from operations (1,848 ) 42,265 40,417 Other expense, net 808 22,120 22,928 Net income (loss) (2,656 ) 20,145 17,489 Add: comprehensive loss from unconsolidated investment and other — (965 ) (965 ) Comprehensive income (loss) $ (2,656 ) $ 19,180 $ 16,524 |
Deferred Revenue and Deferred R
Deferred Revenue and Deferred Revenue - Affiliate | 3 Months Ended |
Mar. 31, 2016 | |
Deferred Revenue Disclosure [Abstract] | |
Deferred Revenue and Deferred Revenue - Affiliate | Deferred Revenue and Deferred Revenue—Affiliate Most of the Partnership’s coal and aggregates lessees must make minimum annual or quarterly payments which are generally recoupable over certain time periods. These minimum payments are recorded as deferred revenue when received. The deferred revenue attributable to the minimum payment is recognized as revenue based upon the underlying mineral lease when the lessee recoups the minimum payment through production or in the period immediately following the expiration of the lessee’s ability to recoup the payments. The Partnership’s deferred revenue (including affiliate) consist of the following (in thousands): March 31, December 31, (Unaudited) Deferred revenue $ 76,750 $ 80,812 Deferred revenue—affiliate 81,868 82,853 Total deferred revenue (including affiliate) $ 158,618 $ 163,665 The Partnership recognized the following amounts of deferred revenue (including affiliate) attributable to previously paid minimums as Coal, hard mineral royalty and other revenue (in thousands): Three Months Ended 2016 2015 (Unaudited) Coal, hard mineral royalty and other (1) $ 6,094 $ 1,063 Coal, hard mineral royalty and other—affiliates 870 3,477 Total coal, hard mineral royalty and other (including affilaites) $ 6,964 $ 4,540 (1) See "Note 16. Subsequent Events" for description of agreements entered into in April 2016 that resulted in lessee forfeitures of ability to recoup previously paid minimums. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events The following represents material events that have occurred subsequent to March 31, 2016 through the time of the Partnership’s filing of its Quarterly Report on Form 10-Q with the SEC: Distribution Declared On April 20, 2016 the Board of Directors of GP Natural Resource Partners LLC declared a distribution of $0.45 per unit to be paid by the Partnership on May 13, 2016 to unitholders of record on May 5, 2016. Lease Modifications, Termination and Forfeitures of Minimum Royalty Balances In April 2016, the Partnership entered into agreements with certain lessees to either modify or terminate existing coal related leases that resulted in the Partnership recognizing approximately $35 million of deferred revenue in April 2016 as follows: • An agreement that terminated a central Appalachia coal royalty lease and resulted in the lessee forfeiting the right to recoup $26.2 million of minimum royalties previously paid to the Partnership. The Partnership agreed to transfer its coal mineral rights that were subject to this former lease to the lessee. This terminated lease had no current or planned production and the mineral rights transferred had zero net book value on the Partnership's consolidated Balance Sheets as of March 31, 2016. As a result of this transaction, in April 2016 the Partnership will recognize $26.2 million of revenue. • Lease modifications of existing coal royalty leases resulted in lessee forfeiture of rights to recoup previously paid minimum royalties and the reduction in lessee recoupment time. As a result of these modifications, in April 2016 the Partnership will recognize approximately $9 million of revenue. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2016 | |
Accounting Policies [Abstract] | |
Principles of Consolidation and Reporting | Principles of Consolidation and Reporting The accompanying unaudited Consolidated Financial Statements of the Partnership have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") for interim financial information and with Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. Certain reclassifications have been made to prior period amounts to conform to the current period financial statement presentation. As described in "Note 2. Segment Information", we recasted certain prior period amounts to conform to the way we internally manage and monitor segment performance. In particular, prior year general and administrative charges that were allocated to operating segments have been reclassified to Operating and maintenance expenses and Operating and maintenance expenses—affiliates on the Consolidated Statements of Comprehensive Income. The prior period reclassifications for new segments had no impact on the Partnership's consolidated financial position, net income (loss) or cash flows. On January 1, 2016, the Partnership adopted a new accounting standard using a retrospective approach that required the presentation of the Partnership's debt issuance costs as a direct deduction from the related debt liability, rather than recorded as an asset. The adoption resulted in a reclassification that reduced other current assets and short-term debt by $0.2 million and reduced other assets and long-term debt (including affiliate) by $13.8 million on the Partnership’s Consolidated Balance Sheet at December 31, 2015. In our opinion, all adjustments, consisting only of normal recurring adjustments necessary for a fair presentation, have been included. The interim financial statements should be read in conjunction with the audited financial statements and related notes included in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2015. Interim results are not necessarily indicative of the results for a full year. |
Reverse Unit Split | Reverse Unit Split On January 26, 2016, the board of directors of our general partner approved a 1-for-10 reverse split on our common units, effective following market close on February 17, 2016. Pursuant to the authorization provided, the Partnership completed the 1-for-10 reverse unit split and its common units began trading on a reverse unit split-adjusted basis on the New York Stock Exchange on February 18, 2016. As a result of the reverse unit split, every 10 outstanding common units were combined into one common unit. The reverse unit split reduced the number of common units outstanding from 122.3 million units to 12.2 million units. All unit and per unit data included in these consolidated financial statements has been retroactively restated to reflect the reverse unit split. |
Recently Issued Accounting Standards Not Yet Adopted | Recently Issued Accounting Standards Not Yet Adopted In May 2014, the Financial Accounting Standards Board ("FASB") amended its guidance on revenue recognition. The core principle of this amendment is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted for reporting periods beginning after December 15, 2016, including interim reporting periods within that period. This guidance can be adopted either retrospectively to each prior reporting period presented or as a cumulative-effect adjustment as of the date of adoption. The Partnership is currently evaluating the impact of the provisions of this guidance on its consolidated financial position, results of operations and cash flows. In August 2014, the FASB issued guidance on management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The guidance is effective for interim and annual periods ending after December 15, 2016 and early adoption is permitted. The new guidance will require a formal assessment of going concern by management based on criteria prescribed in the new guidance, but will not impact the Partnership's financial position or results of operations. The Partnership is reviewing its policies and processes to ensure compliance with this new guidance. In July 2015, the FASB issued authoritative guidance which intended to simplify the measurement of inventory. This guidance requires an entity to measure inventory at the lower of cost or net realizable value. The amendments do not apply to inventory that is measured using last-in, first-out or the retail inventory method. This guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, with early adoption permitted. This guidance should be applied on a prospective basis. The Partnership is currently evaluating the impact of the provisions of this guidance on its consolidated financial position, results of operations and cash flows. In February 2016, the FASB issued authoritative lease guidance that establishes a right-of-use ("ROU") model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The main difference between the current requirement under GAAP and the ROU model is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Partnership is currently evaluating the impact of the provisions of this guidance on its consolidated financial position, results of operations and cash flows. |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | The following table summarizes certain financial information for each of the Partnership's operating segments (in thousands): Operating Segments For the Three Months Ended Coal, Hard Mineral Royalty and Other Soda Ash VantaCore Oil and Gas Corporate and Financing Total For the three months ended March 31, 2016 Revenues (including affiliates) $ 39,045 $ 9,801 $ 24,682 $ 7,298 $ — $ 80,826 Intersegment revenues (expenses) 21 — (21 ) — — — Gain on asset sales 1,590 — — 20,335 — 21,925 Operating and maintenance expenses (including affiliates) 7,380 — 22,156 5,114 — 34,650 Depreciation, depletion and amortization 6,762 — 3,562 4,419 — 14,743 Asset impairment 1,893 — — 137 — 2,030 Interest expense, net — — — — (23,729 ) (23,729 ) Net income (loss) 24,600 9,801 (1,036 ) 17,963 (27,901 ) 23,427 For the three months ended March 31, 2015 Revenues (including affiliates) $ 53,510 $ 12,523 $ 26,799 $ 14,779 $ — $ 107,611 Gain on asset sales 1,615 — — 451 — 2,066 Operating and maintenance expenses (including affiliates) 8,414 — 25,434 6,649 — 40,497 Depreciation, depletion and amortization 10,016 — 3,856 11,520 — 25,392 Interest expense, net — — — — (22,928 ) (22,928 ) Net income (loss) 36,695 12,523 (2,491 ) (2,939 ) (26,299 ) 17,489 Total assets March 31, 2016 1,016,827 258,939 196,720 132,324 20,083 1,624,893 December 31, 2015 1,047,922 261,942 200,348 158,862 961 1,670,035 |
Equity Investment (Tables)
Equity Investment (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Schedule of Summarized Financial Information | Our equity in the earnings of Ciner Wyoming is summarized as follows (in thousands): Three Months Ended 2016 2015 (Unaudited) Income allocation to NRP’s equity interests $ 10,996 $ 13,727 Amortization of basis difference (1,195 ) (1,204 ) Equity in earnings of unconsolidated investment $ 9,801 $ 12,523 The results of Ciner Wyoming’s operations are summarized as follows (in thousands): Three Months Ended 2016 2015 (Unaudited) Sales $ 114,384 $ 120,430 Gross profit 28,251 32,724 Net Income 22,441 28,014 The financial position of Ciner Wyoming is summarized as follows (in thousands): March 31, December 31, (Unaudited) Current assets $ 139,185 $ 144,695 Noncurrent assets 233,236 233,845 Current liabilities 46,881 43,018 Noncurrent liabilities 110,518 116,808 |
Plant and Equipment (Tables)
Plant and Equipment (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Plant and Equipment | The Partnership’s plant and equipment consist of the following (in thousands): March 31, December 31, (Unaudited) Plant and equipment at cost $ 77,565 $ 92,203 Construction in process 1,323 1,074 Less accumulated depreciation (21,444 ) (32,038 ) Total plant and equipment, net $ 57,444 $ 61,239 |
Mineral Rights (Tables)
Mineral Rights (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Extractive Industries [Abstract] | |
Mineral Rights | The Partnership’s mineral rights consist of the following (in thousands): March 31, 2016 (Unaudited) Carrying Value Accumulated Depletion Net Book Value Coal, Hard Mineral Royalty and Other $ 1,269,633 $ (437,628 ) $ 832,005 VantaCore 112,700 (3,475 ) 109,225 Oil and Gas 136,392 (16,793 ) 119,599 Total $ 1,518,725 $ (457,896 ) $ 1,060,829 December 31, 2015 Carrying Value Accumulated Depletion Net Book Value Coal, Hard Mineral Royalty and Other $ 1,278,274 $ (432,260 ) $ 846,014 VantaCore 112,700 (3,082 ) 109,618 Oil and Gas 155,293 (16,898 ) 138,395 Total $ 1,546,267 $ (452,240 ) $ 1,094,027 |
Intangible Assets (Including 28
Intangible Assets (Including Affiliate) (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Related Party Transaction [Line Items] | |
Intangible Assets | The Partnership's intangible assets consist of permits, aggregate-related trade names and other agreements as follows (in thousands): March 31, December 31, (Unaudited) Intangible assets 5,076 5,076 Less accumulated amortization (1,375 ) (1,146 ) Total intangible assets, net $ 3,701 $ 3,930 |
Affiliated Entity | |
Related Party Transaction [Line Items] | |
Intangible Assets | The Partnership's intangible assets—affiliate relate to above market coal transportation contracts with subsidiaries of Foresight Energy LP ("Foresight Energy") in which we receive throughput fees for the handling and transportation of coal. March 31, December 31, (Unaudited) Intangible assets—affiliate $ 81,109 $ 81,109 Less accumulated amortization—affiliate (28,835 ) (28,112 ) Total intangible assets, net—affiliate $ 52,274 $ 52,997 |
Debt and Debt - Affiliate (Tabl
Debt and Debt - Affiliate (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Debt Disclosure [Abstract] | |
Long-Term Debt | As of March 31, 2016 and December 31, 2015, debt and debt—affiliate consisted of the following (in thousands): March 31, December 31, (Unaudited) NRP LP debt: 9.125% senior notes, with semi-annual interest payments in April and October, due October 2018, $300 million issued at 99.007% and $125 million issued at 99.5% $ 425,000 $ 425,000 Opco debt (1): $300 million floating rate revolving credit facility, due October 2017 290,000 290,000 4.91% senior notes, with semi-annual interest payments in June and December, with annual principal payments in June, due June 2018 13,850 13,850 8.38% senior notes, with semi-annual interest payments in March and September, with annual principal payments in March, due March 2019 64,286 85,714 5.05% senior notes, with semi-annual interest payments in January and July, with annual principal payments in July, due July 2020 38,462 38,462 5.31% utility local improvement obligation, with annual principal and interest payments in February, due March 2021 960 1,153 5.55% senior notes, with semi-annual interest payments in June and December, with annual principal payments in June, due June 2023 21,600 21,600 4.73% senior notes, with semi-annual interest payments in June and December, with annual principal payments in December, due December 2023 60,000 60,000 5.82% senior notes, with semi-annual interest payments in March and September, with annual principal payments in March, due March 2024 120,000 135,000 8.92% senior notes, with semi-annual interest payments in March and September, with annual principal payments in March, due March 2024 36,364 40,909 5.03% senior notes, with semi-annual interest payments in June and December, with annual principal payments in December, due December 2026 148,077 148,077 5.18% senior notes, with semi-annual interest payments in June and December, with annual principal payments in December, due December 2026 42,308 42,308 NRP Oil and Gas debt: Reserve-based revolving credit facility due November 2019 75,000 85,000 Total debt at face value $ 1,335,907 $ 1,387,073 Net unamortized debt discount (1,889 ) (2,077 ) Net unamortized debt issuance costs (1) (12,683 ) (14,040 ) Total debt, net $ 1,321,335 $ 1,370,956 Less: current portion of long-term debt 154,441 80,745 Total long-term debt $ 1,166,894 $ 1,290,211 (1) See Note 1. " Basis of Presentation" for discussion of debt issuance costs reclassification upon adoption of new accounting standard on January 1, 2016. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Contractual Override, Note Receivable and Long-Term Debt | The following table (in thousands) shows the face and estimated fair values of the Partnership's debt and debt—affiliate: March 31, 2016 December 31, 2015 Debt at Face Value Estimated Fair Value Debt at Face Value Estimated Fair Value (Unaudited) NRP Senior Notes (1) $ 425,000 $ 272,000 $ 425,000 $ 277,313 Opco Senior Notes and utility local improvement obligation (2) 545,907 349,380 587,073 383,065 Opco Revolving Credit Facility (3) 290,000 290,000 290,000 290,000 NRP Oil and Gas RBL Facility (3) 75,000 75,000 85,000 85,000 (1) The Level 1 fair value is based upon quotations obtained for identical instruments on the closing trading prices near period end. (2) The Level 3 fair value is estimated by management using quotations obtained for comparable instruments on the closing trading prices near period end. (3) The Level 3 fair value approximates the carrying amount because the interest rates are variable and reflective of market rates and the terms of the credit facility allow the Partnership to repay this debt at any time without penalty. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Related Party Transactions [Abstract] | |
Summary of Reimbursements | Direct general and administrative expenses charged to the Partnership by WPPLP and Quintana Minerals Corporation are as follows (in thousands): Three Months Ended 2016 2015 (Unaudited) Operating and maintenance expenses—affiliates, net $ 2,776 $ 2,702 General and administrative—affiliates 937 1,084 |
Unit-Based Compensation (Tables
Unit-Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Activity in Outstanding Grants | A summary of activity in the outstanding grants during 2016 is as follows (in thousands): Phantom Units Outstanding grants at January 1, 2016 126 Grants during the period — Grants vested and paid during the period (28 ) Forfeitures during the period (3 ) Outstanding grants at March 31, 2016 95 |
Cash Distributions (Tables)
Cash Distributions (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Equity [Abstract] | |
Schedule of distributions paid | The following table shows the distributions paid by the Partnership during the three months ended March 31, 2016 and 2015: Total Distributions (In thousands) Date Paid Period Covered by Distribution Distribution per Common Unit Common Units GP Interest Total 2016 February 12, 2016 October 1 - December 31, 2015 $ 0.45 $ 5,503 $ 113 $ 5,616 2015 February 13, 2015 October 1 - December 31, 2014 $ 3.50 $ 42,804 $ 874 $ 43,678 |
Supplementary Unrestricted Su34
Supplementary Unrestricted Subsidiary Information (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Balance Sheet | CONDENSED CONSOLIDATING BALANCE SHEETS (in thousands) March 31, 2016 Unrestricted Subsidiaries of NRP NRP and its Restricted Subsidiaries Eliminations Total ASSETS Current assets (including affiliates) $ 10,101 $ 109,133 $ (217 ) $ 119,017 Mineral rights, net 131,905 928,924 — 1,060,829 Equity in unconsolidated investment — 258,939 — 258,939 Other non-current assets (including affiliates) 734 185,374 — 186,108 Total assets $ 142,740 $ 1,482,370 $ (217 ) $ 1,624,893 LIABILITIES AND CAPITAL Current portion of long-term debt, net $ 73,696 $ 80,745 $ — $ 154,441 Other current liabilities (including affiliates) 6,217 42,636 (27 ) 48,826 Long-term debt, net (including affiliate) — 1,166,894 — 1,166,894 Other non-current liabilities (including affiliates) 4,778 159,679 — 164,457 Partners' capital 61,494 32,365 (190 ) 93,669 Non-controlling interest (3,445 ) 51 — (3,394 ) Total liabilities and capital $ 142,740 $ 1,482,370 $ (217 ) $ 1,624,893 December 31, 2015 Unrestricted Subsidiaries of NRP NRP and its Restricted Subsidiaries Eliminations Total ASSETS Current assets (including affiliates) $ 21,540 $ 100,178 $ (589 ) $ 121,129 Mineral rights, net 134,445 959,582 — 1,094,027 Equity in unconsolidated investment — 261,942 — 261,942 Other non-current assets (including affiliates) (1) 887 192,050 — 192,937 Total assets $ 156,872 $ 1,513,752 $ (589 ) $ 1,670,035 LIABILITIES AND CAPITAL Current portion of long-term debt, net (1) $ — $ 80,745 $ — $ 80,745 Other current liabilities (including affiliates) 7,351 48,356 (43 ) 55,664 Long-term debt, net (including affiliate) (1) 83,600 1,206,611 — 1,290,211 Other non-current liabilities (including affiliates) 4,703 165,770 — 170,473 Partners' capital 64,663 12,219 (546 ) 76,336 Non-controlling interest (3,445 ) 51 — (3,394 ) Total liabilities and capital $ 156,872 $ 1,513,752 $ (589 ) $ 1,670,035 |
Condensed Income Statement | CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (in thousands) Three Months Ended March 31, 2016 Unrestricted Subsidiaries of NRP NRP and its Restricted Subsidiaries Total Revenues $ 7,323 $ 95,428 $ 102,751 Operating expenses 9,401 46,194 55,595 Income (loss) from operations (2,078 ) 49,234 47,156 Other expense, net 1,090 22,639 23,729 Net income (loss) (3,168 ) 26,595 23,427 Add: comprehensive loss from unconsolidated investment and other — (545 ) (545 ) Comprehensive income (loss) $ (3,168 ) $ 26,050 $ 22,882 Three Months Ended March 31, 2015 Unrestricted Subsidiaries of NRP NRP and its Restricted Subsidiaries Total Revenues $ 14,900 $ 94,777 $ 109,677 Operating expenses 16,748 52,512 69,260 Income (loss) from operations (1,848 ) 42,265 40,417 Other expense, net 808 22,120 22,928 Net income (loss) (2,656 ) 20,145 17,489 Add: comprehensive loss from unconsolidated investment and other — (965 ) (965 ) Comprehensive income (loss) $ (2,656 ) $ 19,180 $ 16,524 |
Deferred Revenue and Deferred35
Deferred Revenue and Deferred Revenue - Affiliate (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Deferred Revenue Disclosure [Abstract] | |
Schedule of Deferred Revenue | The Partnership’s deferred revenue (including affiliate) consist of the following (in thousands): March 31, December 31, (Unaudited) Deferred revenue $ 76,750 $ 80,812 Deferred revenue—affiliate 81,868 82,853 Total deferred revenue (including affiliate) $ 158,618 $ 163,665 The Partnership recognized the following amounts of deferred revenue (including affiliate) attributable to previously paid minimums as Coal, hard mineral royalty and other revenue (in thousands): Three Months Ended 2016 2015 (Unaudited) Coal, hard mineral royalty and other (1) $ 6,094 $ 1,063 Coal, hard mineral royalty and other—affiliates 870 3,477 Total coal, hard mineral royalty and other (including affilaites) $ 6,964 $ 4,540 (1) See "Note 16. Subsequent Events" for description of agreements entered into in April 2016 that resulted in lessee forfeitures of ability to recoup previously paid minimums. |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Detail) shares in Millions | Feb. 18, 2016shares | Mar. 31, 2016USD ($)shares | Oct. 31, 2014USD ($) | Sep. 30, 2013USD ($) | Mar. 31, 2016USD ($)shares | Dec. 31, 2015USD ($)shares | Feb. 17, 2016shares |
Schedule Of Significant Accounting Policies [Line Items] | |||||||
Deferred issuance costs | $ 12,683,000 | $ 12,683,000 | $ 14,040,000 | ||||
Total debt | $ 1,321,335,000 | $ 1,321,335,000 | $ 1,370,956,000 | ||||
Common units outstanding (in shares) | shares | 12.2 | 12.2 | 12.2 | 12.2 | 122.3 | ||
NRP LP | |||||||
Schedule Of Significant Accounting Policies [Line Items] | |||||||
Rate of senior notes (percent) | 9.125% | ||||||
Repayment of principal amount | $ 122,600,000 | ||||||
NRP LP | 9.125% senior notes, with semi-annual interest payments in April and October, maturing October 2018 | |||||||
Schedule Of Significant Accounting Policies [Line Items] | |||||||
Debt Instrument, face amount | $ 425,000,000 | $ 425,000,000 | |||||
Rate of senior notes (percent) | 9.125% | 9.125% | |||||
Opco | |||||||
Schedule Of Significant Accounting Policies [Line Items] | |||||||
Ratio of Indebtedness | 4 | ||||||
Leverage ratio | 3.09 | 3.09 | |||||
Repayment of principal amount | $ 289,000,000 | ||||||
Opco | $300 million floating rate revolving credit facility, due October 2017 | |||||||
Schedule Of Significant Accounting Policies [Line Items] | |||||||
Total debt | $ 290,000,000 | $ 290,000,000 | |||||
Opco | Senior Notes | |||||||
Schedule Of Significant Accounting Policies [Line Items] | |||||||
Total debt | $ 544,900,000 | $ 544,900,000 | |||||
NRP Oil and Gas | |||||||
Schedule Of Significant Accounting Policies [Line Items] | |||||||
Leverage ratio | 3.10 | 3.10 | |||||
Revolving Credit Facility | NRP Oil and Gas | |||||||
Schedule Of Significant Accounting Policies [Line Items] | |||||||
Borrowings outstanding | $ 75,000,000 | $ 75,000,000 | $ 85,000,000 | ||||
Repayment of principal amount | 10,000,000 | 25,000,000 | |||||
Reduction in borrowing capacity | $ (13,000,000) | $ (13,000,000) | |||||
Common Unitholders | |||||||
Schedule Of Significant Accounting Policies [Line Items] | |||||||
Reverse split ratio, common units | 0.1 | ||||||
Maximum | Revolving Credit Facility | Opco | |||||||
Schedule Of Significant Accounting Policies [Line Items] | |||||||
Ratio of Indebtedness | 4 | ||||||
Maximum | Revolving Credit Facility | Opco | Fiscal Quarter Ending on or Before March 31, 2017 | |||||||
Schedule Of Significant Accounting Policies [Line Items] | |||||||
Ratio of Indebtedness | 3.75 | ||||||
Maximum | Revolving Credit Facility | Opco | Fiscal Quarter Ending on or After June 30, 2017 | |||||||
Schedule Of Significant Accounting Policies [Line Items] | |||||||
Ratio of Indebtedness | 3.5 | ||||||
Short-term Debt | Accounting Standards Update 2015-03 | |||||||
Schedule Of Significant Accounting Policies [Line Items] | |||||||
Deferred issuance costs | (200,000) | ||||||
Other Current Assets | Accounting Standards Update 2015-03 | |||||||
Schedule Of Significant Accounting Policies [Line Items] | |||||||
Deferred issuance costs | (200,000) | ||||||
Other Noncurrent Assets | Accounting Standards Update 2015-03 | |||||||
Schedule Of Significant Accounting Policies [Line Items] | |||||||
Deferred issuance costs | (13,800,000) | ||||||
Long-term Debt | Accounting Standards Update 2015-03 | |||||||
Schedule Of Significant Accounting Policies [Line Items] | |||||||
Deferred issuance costs | $ (13,800,000) |
Segment Information - Additiona
Segment Information - Additional Information (Details) | Feb. 01, 2016operation | Feb. 29, 2016operation | Mar. 31, 2016segment |
Segment Reporting Information [Line Items] | |||
Number of operating segments | segment | 4 | ||
Ciner Wyoming | |||
Segment Reporting Information [Line Items] | |||
Percentage of partnership interest owned (percent) | 49.00% | ||
Texas, Georgia, Tennessee | |||
Segment Reporting Information [Line Items] | |||
Disposition of reserves and related royalty rights, number of operations | operation | 3 | 3 |
Segment Information - Schedule
Segment Information - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||
Revenues | $ 80,826 | $ 107,611 | |
Gain on asset sales | 21,925 | 2,066 | |
Operating and maintenance expenses (including affiliates) | 34,650 | 40,497 | |
Depreciation, depletion and amortization | 14,743 | 25,392 | |
Asset impairment | 2,030 | 0 | |
Interest expense, net | (23,729) | (22,928) | |
Net income (loss) | 23,427 | 17,489 | |
Total assets | 1,624,893 | $ 1,670,035 | |
Corporate and Financing | |||
Segment Reporting Information [Line Items] | |||
Revenues | 0 | 0 | |
Gain on asset sales | 0 | 0 | |
Operating and maintenance expenses (including affiliates) | 0 | 0 | |
Depreciation, depletion and amortization | 0 | 0 | |
Asset impairment | 0 | ||
Interest expense, net | (23,729) | (22,928) | |
Net income (loss) | (27,901) | (26,299) | |
Total assets | 20,083 | 961 | |
Intersegment Eliminations | |||
Segment Reporting Information [Line Items] | |||
Revenues | 0 | ||
Coal, Hard Mineral Royalty and Other | |||
Segment Reporting Information [Line Items] | |||
Revenues | 28,476 | 34,449 | |
Coal, Hard Mineral Royalty and Other | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 39,045 | 53,510 | |
Gain on asset sales | 1,590 | 1,615 | |
Operating and maintenance expenses (including affiliates) | 7,380 | 8,414 | |
Depreciation, depletion and amortization | 6,762 | 10,016 | |
Asset impairment | 1,893 | ||
Interest expense, net | 0 | 0 | |
Net income (loss) | 24,600 | 36,695 | |
Total assets | 1,016,827 | 1,047,922 | |
Coal, Hard Mineral Royalty and Other | Intersegment Eliminations | |||
Segment Reporting Information [Line Items] | |||
Revenues | 21 | ||
Soda Ash | |||
Segment Reporting Information [Line Items] | |||
Revenues | 9,801 | 12,523 | |
Soda Ash | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 9,801 | 12,523 | |
Gain on asset sales | 0 | 0 | |
Operating and maintenance expenses (including affiliates) | 0 | 0 | |
Depreciation, depletion and amortization | 0 | 0 | |
Asset impairment | 0 | ||
Interest expense, net | 0 | 0 | |
Net income (loss) | 9,801 | 12,523 | |
Total assets | 258,939 | 261,942 | |
Soda Ash | Intersegment Eliminations | |||
Segment Reporting Information [Line Items] | |||
Revenues | 0 | ||
VantaCore | |||
Segment Reporting Information [Line Items] | |||
Revenues | 24,682 | 26,799 | |
VantaCore | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 24,682 | 26,799 | |
Gain on asset sales | 0 | 0 | |
Operating and maintenance expenses (including affiliates) | 22,156 | 25,434 | |
Depreciation, depletion and amortization | 3,562 | 3,856 | |
Asset impairment | 0 | ||
Interest expense, net | 0 | 0 | |
Net income (loss) | (1,036) | (2,491) | |
Total assets | 196,720 | 200,348 | |
VantaCore | Intersegment Eliminations | |||
Segment Reporting Information [Line Items] | |||
Revenues | (21) | ||
Oil and Gas | |||
Segment Reporting Information [Line Items] | |||
Revenues | 7,298 | 14,779 | |
Oil and Gas | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 7,298 | 14,779 | |
Gain on asset sales | 20,335 | 451 | |
Operating and maintenance expenses (including affiliates) | 5,114 | 6,649 | |
Depreciation, depletion and amortization | 4,419 | 11,520 | |
Asset impairment | 137 | ||
Interest expense, net | 0 | 0 | |
Net income (loss) | 17,963 | $ (2,939) | |
Total assets | 132,324 | $ 158,862 | |
Oil and Gas | Intersegment Eliminations | |||
Segment Reporting Information [Line Items] | |||
Revenues | $ 0 |
Equity Investment - Additional
Equity Investment - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2015 | |
Schedule of Equity Method Investments [Line Items] | ||||
Distributions from equity method Investment | $ 12,250 | $ 10,903 | ||
Weighted average useful life of assets (in years) | 28 years | |||
Ciner Wyoming | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Percentage of partnership interest owned (percent) | 49.00% | |||
Distributions from equity method Investment | $ 12,300 | 10,900 | ||
Increase in fair value of property, plant and equipment | 153,600 | $ 154,800 | ||
Anadarko Holding Company [Member] | Ciner Wyoming | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Investment Contingent Consideration Paid | $ 7,200 | $ 3,800 | $ 500 |
Equity Investment - Schedule o
Equity Investment - Schedule of Summarized Financial Information of Unaudited Financial Statements (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Schedule of Equity Method Investments [Line Items] | |||
Net income | $ 23,427 | $ 17,489 | |
Current assets | 119,017 | $ 121,129 | |
Current liabilities | 203,267 | 136,409 | |
Ciner Wyoming | |||
Schedule of Equity Method Investments [Line Items] | |||
Income allocation to NRP’s equity interests | 10,996 | 13,727 | |
Amortization of basis difference | (1,195) | (1,204) | |
Equity in earnings of unconsolidated investment | 9,801 | 12,523 | |
Sales | 114,384 | 120,430 | |
Gross profit | 28,251 | 32,724 | |
Net income | 22,441 | $ 28,014 | |
Current assets | 139,185 | 144,695 | |
Noncurrent assets | 233,236 | 233,845 | |
Current liabilities | 46,881 | 43,018 | |
Noncurrent liabilities | $ 110,518 | $ 116,808 |
Plant and Equipment - Plant and
Plant and Equipment - Plant and Equipment (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Property, Plant and Equipment [Abstract] | ||
Plant and equipment at cost | $ 77,565 | $ 92,203 |
Construction in process | 1,323 | 1,074 |
Less accumulated depreciation | (21,444) | (32,038) |
Total plant and equipment, net | $ 57,444 | $ 61,239 |
Plant and Equipment - Additiona
Plant and Equipment - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation expense on plant and equipment | $ 3.4 | $ 4.5 |
Mineral Rights - Mineral Rights
Mineral Rights - Mineral Rights (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Carrying Value | $ 1,518,725 | $ 1,546,267 |
Accumulated Depletion | (457,896) | (452,240) |
Net Book Value | 1,060,829 | 1,094,027 |
Coal, Hard Mineral Royalty and Other | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Carrying Value | 1,269,633 | 1,278,274 |
Accumulated Depletion | (437,628) | (432,260) |
Net Book Value | 832,005 | 846,014 |
VantaCore | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Carrying Value | 112,700 | 112,700 |
Accumulated Depletion | (3,475) | (3,082) |
Net Book Value | 109,225 | 109,618 |
Oil and Gas | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Carrying Value | 136,392 | 155,293 |
Accumulated Depletion | (16,793) | (16,898) |
Net Book Value | $ 119,599 | $ 138,395 |
Mineral Rights - Additional Inf
Mineral Rights - Additional Information (Detail) $ in Thousands | Feb. 01, 2016USD ($)operation | Feb. 29, 2016operation | Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) |
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||
Total depletion and amortization expense on mineral interests | $ 10,300 | $ 19,900 | ||
Proceeds from sale of oil and gas properties | 32,848 | 3,395 | ||
Gain on asset sales | 21,925 | $ 2,066 | ||
Appalachian Basin | ||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||
Proceeds from sale of oil and gas properties | 37,500 | |||
Gain on asset sales | 20,300 | |||
Texas, Georgia, Tennessee | ||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||
Gain on asset sales | $ 1,600 | |||
Disposition of reserves and related royalty rights, number of operations | operation | 3 | 3 | ||
Proceeds from sale of hard mineral reserves | $ 10,000 |
Intangible Assets (Including 45
Intangible Assets (Including Affiliate) - Intangible Assets - Affiliate (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Related Party Transaction [Line Items] | ||
Intangible assets | $ 5,076 | $ 5,076 |
Less accumulated amortization | (1,375) | (1,146) |
Total intangible assets, net | 3,701 | 3,930 |
Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Intangible assets | 81,109 | 81,109 |
Less accumulated amortization | (28,835) | (28,112) |
Total intangible assets, net | $ 52,274 | $ 52,997 |
Intangible Assets (Including 46
Intangible Assets (Including Affiliate) - Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Intangible assets | $ 5,076 | $ 5,076 |
Less accumulated amortization | (1,375) | (1,146) |
Total intangible assets, net | $ 3,701 | $ 3,930 |
Intangible Assets (Including 47
Intangible Assets (Including Affiliate) - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Related Party Transaction [Line Items] | ||
Amortization expense—affiliate | $ 0.2 | $ 0.2 |
Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Amortization expense—affiliate | $ 0.7 | $ 0.8 |
Debt and Debt - Affiliate - Lon
Debt and Debt - Affiliate - Long-Term Debt (Detail) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Oct. 31, 2014 | Sep. 30, 2013 |
Debt Instrument [Line Items] | |||||
Debt at Face Value | $ 1,335,907,000 | $ 1,387,073,000 | |||
Net unamortized debt discount | (1,889,000) | (2,077,000) | |||
Net unamortized debt issuance costs | (12,683,000) | (14,040,000) | |||
Total debt | 1,321,335,000 | 1,370,956,000 | |||
Less - current portion of long term debt | (154,441,000) | (80,745,000) | |||
Long Term Debt And Debt Affiliate Noncurrent | $ 1,166,894,000 | 1,290,211,000 | |||
NRP LP | |||||
Debt Instrument [Line Items] | |||||
Rate of senior notes (percent) | 9.125% | ||||
Floating rate revolving credit facility | $ 125,000,000 | $ 300,000,000 | |||
Senior Note issue percentage | 99.50% | 99.007% | |||
NRP LP | 9.125% senior notes, with semi-annual interest payments in April and October, maturing October 2018 | |||||
Debt Instrument [Line Items] | |||||
Rate of senior notes (percent) | 9.125% | ||||
Debt Instrument, face amount | $ 425,000,000 | ||||
Debt at Face Value | 425,000,000 | 425,000,000 | |||
Opco | $300 million floating rate revolving credit facility, due October 2017 | |||||
Debt Instrument [Line Items] | |||||
Floating rate revolving credit facility | 300,000,000 | $ 300,000,000 | |||
Debt at Face Value | 290,000,000 | 290,000,000 | |||
Total debt | $ 290,000,000 | ||||
Opco | 4.91% senior notes, with semi-annual interest payments in June and December, with annual principal payments in June, maturing in June 2018 | |||||
Debt Instrument [Line Items] | |||||
Rate of senior notes (percent) | 4.91% | ||||
Debt at Face Value | $ 13,850,000 | 13,850,000 | |||
Opco | 8.38% senior notes, with semi-annual interest payments in March and September, with annual principal payments in March, maturing in March 2019 | |||||
Debt Instrument [Line Items] | |||||
Rate of senior notes (percent) | 8.38% | ||||
Debt at Face Value | $ 64,286,000 | 85,714,000 | |||
Opco | 5.05% senior notes, with semi-annual interest payments in January and July, with annual principal payments in July, maturing in July 2020 | |||||
Debt Instrument [Line Items] | |||||
Rate of senior notes (percent) | 5.05% | ||||
Debt at Face Value | $ 38,462,000 | 38,462,000 | |||
Opco | 5.31% utility local improvement obligation, with annual principal and interest payments, maturing in March 2021 | |||||
Debt Instrument [Line Items] | |||||
Rate of senior notes (percent) | 5.31% | ||||
Debt at Face Value | $ 960,000 | 1,153,000 | |||
Opco | 5.55% senior notes, with semi-annual interest payments in June and December, with annual principal payments in June, maturing in June 2023 | |||||
Debt Instrument [Line Items] | |||||
Rate of senior notes (percent) | 5.55% | ||||
Debt at Face Value | $ 21,600,000 | 21,600,000 | |||
Opco | 4.73% senior notes, with semi-annual interest payments in June and December, with scheduled principal payments beginning December 2014, maturing in December 2023 | |||||
Debt Instrument [Line Items] | |||||
Rate of senior notes (percent) | 4.73% | ||||
Debt at Face Value | $ 60,000,000 | 60,000,000 | |||
Opco | 5.82% senior notes, with semi-annual interest payments in March and September, with annual principal payments in March, maturing in March 2024 | |||||
Debt Instrument [Line Items] | |||||
Rate of senior notes (percent) | 5.82% | ||||
Debt at Face Value | $ 120,000,000 | 135,000,000 | |||
Opco | 8.92% senior notes, with semi-annual interest payments in March and September, with scheduled principal payments beginning March 2014, maturing in March 2024 | |||||
Debt Instrument [Line Items] | |||||
Rate of senior notes (percent) | 8.92% | ||||
Debt at Face Value | $ 36,364,000 | 40,909,000 | |||
Opco | 5.03% senior notes, with semi-annual interest payments in June and December, with scheduled principal payments beginning December 2014, maturing in December 2026 | |||||
Debt Instrument [Line Items] | |||||
Rate of senior notes (percent) | 5.03% | ||||
Debt at Face Value | $ 148,077,000 | 148,077,000 | |||
Opco | 5.18% senior notes, with semi-annual interest payments in June and December, with scheduled principal payments beginning December 2014, maturing in December 2026 | |||||
Debt Instrument [Line Items] | |||||
Rate of senior notes (percent) | 5.18% | ||||
Debt at Face Value | $ 42,308,000 | 42,308,000 | |||
NRP Oil and Gas | Reserve Based Revolving Credit Facility Due 2019 | |||||
Debt Instrument [Line Items] | |||||
Debt at Face Value | 75,000,000 | $ 85,000,000 | |||
Senior Notes Offering Price One [Member] | NRP LP | 9.125% senior notes, with semi-annual interest payments in April and October, maturing October 2018 | |||||
Debt Instrument [Line Items] | |||||
Floating rate revolving credit facility | $ 300,000,000 | ||||
Senior Note issue percentage | 99.007% | ||||
Senior Notes Offering Price Two [Member] | NRP LP | 9.125% senior notes, with semi-annual interest payments in April and October, maturing October 2018 | |||||
Debt Instrument [Line Items] | |||||
Floating rate revolving credit facility | $ 125,000,000 | ||||
Senior Note issue percentage | 99.50% |
Debt and Debt - Affiliate - Add
Debt and Debt - Affiliate - Additional Information (Detail) | Jun. 30, 2016 | Mar. 31, 2016USD ($) | Mar. 31, 2016USD ($) | Jun. 30, 2015USD ($) | Oct. 31, 2014USD ($) | Sep. 30, 2013USD ($) | Aug. 31, 2013USD ($) | Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2015USD ($) | Oct. 01, 2016USD ($) | Aug. 01, 2016USD ($) | Oct. 31, 2015USD ($) | Apr. 30, 2015USD ($) | Nov. 30, 2014USD ($) |
Debt Instrument [Line Items] | |||||||||||||||
Principal balance | $ 1,335,907,000 | $ 1,335,907,000 | $ 1,335,907,000 | $ 1,387,073,000 | |||||||||||
Ciner Wyoming | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Percentage of partnership interest owned (percent) | 49.00% | 49.00% | 49.00% | ||||||||||||
Ciner Wyoming | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Percentage of partnership interest owned (percent) | 49.00% | 49.00% | 49.00% | ||||||||||||
NRP LP | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Rate of senior notes (percent) | 9.125% | ||||||||||||||
Floating rate revolving credit facility | $ 125,000,000 | $ 300,000,000 | |||||||||||||
Senior Note issue percentage | 99.50% | 99.007% | |||||||||||||
Repayment of principal amount | $ 122,600,000 | ||||||||||||||
NRP LP | 9.125% senior notes, with semi-annual interest payments in April and October, maturing October 2018 | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Rate of senior notes (percent) | 9.125% | 9.125% | 9.125% | ||||||||||||
Debt Instrument, face amount | $ 425,000,000 | $ 425,000,000 | $ 425,000,000 | ||||||||||||
Principal balance | $ 425,000,000 | $ 425,000,000 | $ 425,000,000 | 425,000,000 | |||||||||||
NRP LP | Minimum | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Fixed charge coverage ratio | 1 | 1 | 1 | ||||||||||||
NRP LP | Maximum | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Fixed charge coverage ratio | 2 | 2 | 2 | ||||||||||||
Opco | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Repayment of principal amount | $ 289,000,000 | ||||||||||||||
Fixed charge coverage ratio | 5.43 | 5.43 | 5.43 | ||||||||||||
Ratio of Indebtedness | 4 | ||||||||||||||
Ratio of consolidated EBITDDA to consolidated fixed charges | 3.5 | ||||||||||||||
Percentage of consolidated net tangible assets debt of subsidiaries not permitted to exceed | 10.00% | ||||||||||||||
Leverage ratio | 3.09 | 3.09 | 3.09 | ||||||||||||
Opco | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Weighted average interest rate (percent) | 3.80% | 3.80% | 3.80% | 1.94% | |||||||||||
Commitment fee on the unused portion of the borrowing base under the credit facility (percent) | 0.50% | ||||||||||||||
Ratio of consolidated EBITDDA to consolidated fixed charges | 3.5 | ||||||||||||||
Secured Debt | $ 698,100,000 | $ 698,100,000 | $ 698,100,000 | 709,900,000 | |||||||||||
Opco | $300 million floating rate revolving credit facility, due October 2017 | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Floating rate revolving credit facility | 300,000,000 | 300,000,000 | $ 300,000,000 | 300,000,000 | |||||||||||
Principal balance | $ 290,000,000 | $ 290,000,000 | $ 290,000,000 | 290,000,000 | |||||||||||
Opco | $300 million floating rate revolving credit facility, due October 2017 | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Revolving credit facility maturity date | Oct. 2, 2017 | ||||||||||||||
Opco | $300 million floating rate revolving credit facility, due August 2016 | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Floating rate revolving credit facility | $ 300,000,000 | ||||||||||||||
Opco | 8.38% senior notes, with semi-annual interest payments in March and September, with annual principal payments in March, maturing in March 2019 | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Rate of senior notes (percent) | 8.38% | 8.38% | 8.38% | ||||||||||||
Principal balance | $ 64,286,000 | $ 64,286,000 | $ 64,286,000 | 85,714,000 | |||||||||||
Opco | 8.92% senior notes, with semi-annual interest payments in March and September, with scheduled principal payments beginning March 2014, maturing in March 2024 | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Rate of senior notes (percent) | 8.92% | 8.92% | 8.92% | ||||||||||||
Principal balance | $ 36,364,000 | $ 36,364,000 | $ 36,364,000 | 40,909,000 | |||||||||||
Opco | Senior Notes | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Principal balance | $ 544,900,000 | $ 544,900,000 | 544,900,000 | $ 585,900,000 | |||||||||||
Principal payments on its senior notes | $ 41,000,000 | $ 41,000,000 | |||||||||||||
Partnership leverage ratio | 3.75 | ||||||||||||||
Additional interest accrue | 2.00% | 2.00% | 2.00% | ||||||||||||
Opco | Maximum | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Ratio of Indebtedness | 4 | ||||||||||||||
Opco | Fiscal Quarter Ending on or Before March 31, 2017 | Maximum | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Ratio of Indebtedness | 3.75 | ||||||||||||||
Opco | Fiscal Quarter Ending on or After June 30, 2017 | Maximum | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Ratio of Indebtedness | 3.5 | ||||||||||||||
Opco | Federal Funds Rate | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Basis spread on variable rate (percent) | 0.50% | 0.50% | |||||||||||||
Opco | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Basis spread on variable rate (percent) | 1.00% | 1.00% | |||||||||||||
Opco | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility, Basis Spread Condition One | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Additional basis spread (percent) | 2.375% | ||||||||||||||
Opco | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility, Basis Spread Condition Two | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Additional basis spread (percent) | 3.375% | ||||||||||||||
Opco | London Interbank Offered Rate (LIBOR) | Minimum | Revolving Credit Facility, Basis Spread Condition One | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Additional basis spread (percent) | 1.50% | ||||||||||||||
Opco | London Interbank Offered Rate (LIBOR) | Minimum | Revolving Credit Facility, Basis Spread Condition Two | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Additional basis spread (percent) | 2.50% | ||||||||||||||
Opco | London Interbank Offered Rate (LIBOR) | Maximum | Revolving Credit Facility, Basis Spread Condition One | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Additional basis spread (percent) | 2.50% | ||||||||||||||
Opco | London Interbank Offered Rate (LIBOR) | Maximum | Revolving Credit Facility, Basis Spread Condition Two | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Additional basis spread (percent) | 3.50% | ||||||||||||||
NRP Oil and Gas | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Leverage ratio, maximum | 4 | 3.5 | |||||||||||||
Leverage ratio, remainder of the term | 3.5 | ||||||||||||||
Current ratio, minimum | 0.75 | 1 | |||||||||||||
Minimum current ratio, remainder of term | 1 | ||||||||||||||
Leverage ratio | 3.10 | 3.10 | 3.10 | ||||||||||||
Current ratio | 1.94 | 1.94 | 1.94 | ||||||||||||
NRP Oil and Gas | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Floating rate revolving credit facility | $ 105,000,000 | ||||||||||||||
Repayment of principal amount | $ 10,000,000 | $ 25,000,000 | |||||||||||||
Commitment fee on the unused portion of the borrowing base under the credit facility (percent) | 0.50% | ||||||||||||||
Borrowings outstanding | $ 75,000,000 | $ 75,000,000 | $ 75,000,000 | $ 85,000,000 | |||||||||||
Term of credit facility | 5 years | ||||||||||||||
Senior secured revolving credit facility | $ 100,000,000 | ||||||||||||||
Maximum increase in aggregate commitment | $ 75,000,000 | $ 75,000,000 | $ 75,000,000 | $ 88,000,000 | $ 105,000,000 | $ 137,000,000 | |||||||||
Debt Instrument maturities date | 2019-11 | ||||||||||||||
NRP Oil and Gas | Amended On November 2014 | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Maximum increase in aggregate commitment | $ 500,000,000 | ||||||||||||||
NRP Oil and Gas | Forecast | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Leverage ratio, maximum | 4.5 | ||||||||||||||
Current ratio, minimum | 0.75 | ||||||||||||||
NRP Oil and Gas | Forecast | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Maximum increase in aggregate commitment | $ 50,000,000 | $ 70,000,000 | |||||||||||||
NRP Oil and Gas | Federal Funds Rate | Revolving Credit Facility, Basis Spread Condition One | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Basis spread on variable rate (percent) | 0.50% | ||||||||||||||
NRP Oil and Gas | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility, Basis Spread Condition One | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Basis spread on variable rate (percent) | 4.00% | ||||||||||||||
NRP Oil and Gas | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility, Basis Spread Condition Two | Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Basis spread on variable rate (percent) | 4.00% |
Fair Value Measurements - Contr
Fair Value Measurements - Contractual Override, Note Receivable and Long-Term Debt (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt at Face Value | $ 1,335,907 | $ 1,387,073 |
Opco Revolving Credit Facility And Term Loan Facility | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt at Face Value | 290,000 | 290,000 |
Estimated Fair Value | 290,000 | 290,000 |
Nrp Oil And Gas Revolving Credit Facility | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt at Face Value | 75,000 | 85,000 |
Estimated Fair Value | 75,000 | 85,000 |
Nrp Lp Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt at Face Value | 425,000 | 425,000 |
Estimated Fair Value | 272,000 | 277,313 |
Opco Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt at Face Value | 545,907 | 587,073 |
Estimated Fair Value | 349,380 | 383,065 |
Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Contracts receivable—affiliate, current and long-term | $ 3,700 | $ 4,200 |
Related Party Transactions - Su
Related Party Transactions - Summary of Reimbursements (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Related Party Transaction [Line Items] | ||
Operating and maintenance expenses—affiliates, net | $ 3,748 | $ 3,076 |
General and administrative—affiliates | 937 | 1,084 |
Affiliated Entity | Western Pocahontas Properties and Quintana Minerals Corporation | ||
Related Party Transaction [Line Items] | ||
Operating and maintenance expenses—affiliates, net | 2,776 | 2,702 |
General and administrative—affiliates | $ 937 | $ 1,084 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - USD ($) shares in Thousands | 1 Months Ended | 3 Months Ended | ||
Oct. 31, 2014 | Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Related Party Transaction [Line Items] | ||||
Amount payable to related parties | $ 1,227,000 | $ 1,464,000 | ||
Revenues | 80,826,000 | $ 107,611,000 | ||
Deferred revenue—affiliates | 81,868,000 | 82,853,000 | ||
Accounts receivable | 7,525,000 | 6,864,000 | ||
Operating and maintenance expenses—affiliates, net | 3,748,000 | 3,076,000 | ||
Quintana Minerals | ||||
Related Party Transaction [Line Items] | ||||
Amount payable to related parties | 600,000 | 1,100,000 | ||
Western Pocahontas Properties | ||||
Related Party Transaction [Line Items] | ||||
Amount payable to related parties | $ 600,000 | 300,000 | ||
Cline Affiliates | ||||
Related Party Transaction [Line Items] | ||||
Rate of interest in the partnerships general partner (percent) | 31.00% | |||
Related party transaction number of units hold by the related party in partnerships' general partner (in shares) | 500 | |||
Accounts receivable | $ 7,400,000 | 6,400,000 | ||
Net amount receivable | 4,900,000 | |||
Accounts receivable | 1,500,000 | |||
Cline Affiliates | ||||
Related Party Transaction [Line Items] | ||||
Deferred revenue—affiliates | 81,600,000 | 82,600,000 | ||
Net amount receivable | 4,500,000 | |||
Accounts receivable | 2,200,000 | |||
Foresight Energy Lp | Coal Sales | ||||
Related Party Transaction [Line Items] | ||||
Revenues | 10,100,000 | 18,300,000 | ||
Sugar Camp | ||||
Related Party Transaction [Line Items] | ||||
Contracts receivable—affiliate, current and long-term | 80,200,000 | 81,200,000 | ||
Unearned income | 34,500,000 | 35,400,000 | ||
Net amount receivable | 45,700,000 | 45,900,000 | ||
Accounts receivable | 2,100,000 | 2,000,000 | ||
Corsa | ||||
Related Party Transaction [Line Items] | ||||
Deferred revenue—affiliates | 300,000 | 300,000 | ||
Accounts receivable | 100,000 | 200,000 | ||
Royalty Revenue from Coal | 500,000 | 800,000 | ||
Western Pocahontas Properties Limited Partnership | Affiliated Entity | ||||
Related Party Transaction [Line Items] | ||||
Operating and maintenance expenses—affiliates, net | 600,000 | $ 0 | ||
Other assets—affiliate | $ 500,000 | $ 1,100,000 | ||
Senior Notes Due 2018 | Cline Trust Company | ||||
Related Party Transaction [Line Items] | ||||
Partnership common units owned (in shares) | 540 | |||
Principal amount of partnership purchased | $ 20,000,000 | $ 20,000,000 | ||
Rate of senior notes (percent) | 9.125% | 9.125% | ||
Aggregate principal amount of senior notes | $ 125,000,000 | |||
Senior notes due | $ 19,900,000 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions | Apr. 01, 2016 | Mar. 31, 2016 |
Lawsuit Against Hillsboro Energy LLC | ||
Commitments And Contingencies [Line Items] | ||
Minimum quarterly deficiency payments | $ 7.5 | |
Minimum deficiency payments | 30 | |
Loss contingency | $ 23.6 | |
Subsequent Event | Lawsuit Against Macoupin Energy, LLC | ||
Commitments And Contingencies [Line Items] | ||
Damages sought, value | $ 4.7 |
Major Customers (Details)
Major Customers (Details) - Foresight Energy Lp - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Concentration Risk [Line Items] | ||
Revenues | $ 10.1 | $ 18.3 |
Sales Revenue | Customer Concentration Risk | ||
Concentration Risk [Line Items] | ||
Concentration risk (percent) | 9.80% | 16.70% |
Unit-Based Compensation - Addit
Unit-Based Compensation - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period of Grants (in years) | 4 years | ||
Payments made in connection with Long-Term Incentive Plan | $ 1.5 | $ 4.4 | |
Unaccrued cost associated with outstanding grants and related DERs | 0.4 | $ 0.7 | |
General Partner | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expenses related to Incentive Plan to be reimbursed to general partner (less than) | $ 0.1 | $ 0.1 | |
Phantom Share Units (PSUs) | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period of Grants (in years) | 4 years | ||
Number of trading days (in days) | 20 days |
Unit-Based Compensation - Summ
Unit-Based Compensation - Summary of Activity in Outstanding Grants (Details) | 3 Months Ended |
Mar. 31, 2016shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |
Outstanding grants at beginning of period (in shares) | 126,000 |
Grants during the period (in shares) | 0 |
Grants vested and paid during the period (in shares) | (28,000) |
Forfeitures during the period (in shares) | (3,000) |
Outstanding grants at the end of the period (in shares) | 95,000 |
Cash Distributions (Details)
Cash Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands | Feb. 12, 2016 | Feb. 13, 2015 | Mar. 31, 2016 | Mar. 31, 2015 |
Equity [Abstract] | ||||
Distribution per common unit (in dollars per share) | $ 0.45 | $ 3.50 | ||
Distributions paid to common unitholders' | $ 5,503 | $ 42,804 | $ 5,616 | $ 43,678 |
Distributions paid to general partners | 113 | 874 | ||
Total distributions paid | $ 5,616 | $ 43,678 | $ 5,616 |
Supplementary Unrestricted Su58
Supplementary Unrestricted Subsidiary Information - CONDENSED CONSOLIDATING BALANCE SHEETS (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
ASSETS | ||
Current assets (including affiliates) | $ 119,017 | $ 121,129 |
Mineral rights, net | 1,060,829 | 1,094,027 |
Equity in unconsolidated investment | 258,939 | 261,942 |
Other non-current assets (including affiliates) | 186,108 | 192,937 |
Total assets | 1,624,893 | 1,670,035 |
LIABILITIES AND CAPITAL | ||
Current portion of long-term debt, net | 154,441 | 80,745 |
Other current liabilities (including affiliates) | 48,826 | 55,664 |
Long-term debt, net (including affiliate) | 1,166,894 | 1,290,211 |
Other non-current liabilities (including affiliates) | 164,457 | 170,473 |
Partners' capital | 93,669 | 76,336 |
Non-controlling interest | (3,394) | (3,394) |
Total liabilities and capital | 1,624,893 | 1,670,035 |
Consolidation, Eliminations | ||
ASSETS | ||
Current assets (including affiliates) | (217) | (589) |
Mineral rights, net | 0 | 0 |
Equity in unconsolidated investment | 0 | 0 |
Other non-current assets (including affiliates) | 0 | 0 |
Total assets | (217) | (589) |
LIABILITIES AND CAPITAL | ||
Current portion of long-term debt, net | 0 | 0 |
Other current liabilities (including affiliates) | (27) | (43) |
Long-term debt, net (including affiliate) | 0 | 0 |
Other non-current liabilities (including affiliates) | 0 | 0 |
Partners' capital | (190) | (546) |
Non-controlling interest | 0 | 0 |
Total liabilities and capital | (217) | (589) |
Unrestricted Subsidiaries of NRP | ||
ASSETS | ||
Current assets (including affiliates) | 10,101 | 21,540 |
Mineral rights, net | 131,905 | 134,445 |
Equity in unconsolidated investment | 0 | 0 |
Other non-current assets (including affiliates) | 734 | 887 |
Total assets | 142,740 | 156,872 |
LIABILITIES AND CAPITAL | ||
Current portion of long-term debt, net | 73,696 | 0 |
Other current liabilities (including affiliates) | 6,217 | 7,351 |
Long-term debt, net (including affiliate) | 0 | 83,600 |
Other non-current liabilities (including affiliates) | 4,778 | 4,703 |
Partners' capital | 61,494 | 64,663 |
Non-controlling interest | (3,445) | (3,445) |
Total liabilities and capital | 142,740 | 156,872 |
NRP and its Restricted Subsidiaries | ||
ASSETS | ||
Current assets (including affiliates) | 109,133 | 100,178 |
Mineral rights, net | 928,924 | 959,582 |
Equity in unconsolidated investment | 258,939 | 261,942 |
Other non-current assets (including affiliates) | 185,374 | 192,050 |
Total assets | 1,482,370 | 1,513,752 |
LIABILITIES AND CAPITAL | ||
Current portion of long-term debt, net | 80,745 | 80,745 |
Other current liabilities (including affiliates) | 42,636 | 48,356 |
Long-term debt, net (including affiliate) | 1,166,894 | 1,206,611 |
Other non-current liabilities (including affiliates) | 159,679 | 165,770 |
Partners' capital | 32,365 | 12,219 |
Non-controlling interest | 51 | 51 |
Total liabilities and capital | $ 1,482,370 | $ 1,513,752 |
Supplementary Unrestricted Su59
Supplementary Unrestricted Subsidiary Information - CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Condensed Income Statements, Captions [Line Items] | ||
Revenues | $ 102,751 | $ 109,677 |
Operating expenses | 55,595 | 69,260 |
Income from operations | 47,156 | 40,417 |
Other expense, net | 23,729 | 22,928 |
Net income | 23,427 | 17,489 |
Add: comprehensive loss from unconsolidated investment and other | (545) | (965) |
Comprehensive income | 22,882 | 16,524 |
Unrestricted Subsidiaries of NRP | ||
Condensed Income Statements, Captions [Line Items] | ||
Revenues | 7,323 | 14,900 |
Operating expenses | 9,401 | 16,748 |
Income from operations | (2,078) | (1,848) |
Other expense, net | 1,090 | 808 |
Net income | (3,168) | (2,656) |
Add: comprehensive loss from unconsolidated investment and other | 0 | 0 |
Comprehensive income | (3,168) | (2,656) |
NRP and its Restricted Subsidiaries | ||
Condensed Income Statements, Captions [Line Items] | ||
Revenues | 95,428 | 94,777 |
Operating expenses | 46,194 | 52,512 |
Income from operations | 49,234 | 42,265 |
Other expense, net | 22,639 | 22,120 |
Net income | 26,595 | 20,145 |
Add: comprehensive loss from unconsolidated investment and other | (545) | (965) |
Comprehensive income | $ 26,050 | $ 19,180 |
Supplementary Unrestricted Su60
Supplementary Unrestricted Subsidiary Information - Additional Information (Details) | Mar. 31, 2016 |
Brp Llc | |
Related Party Transaction [Line Items] | |
Percentage of partnership interest owned (percent) | 51.00% |
Deferred Revenue and Deferred61
Deferred Revenue and Deferred Revenue - Affiliate - Schedule of Deferred Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Deferred Revenue Arrangement [Line Items] | |||
Deferred revenue | $ 76,750 | $ 80,812 | |
Deferred revenue—affiliates | 81,868 | 82,853 | |
Total deferred revenue (including affiliate) | 158,618 | $ 163,665 | |
Coal, Hard Mineral Royalty and Other | |||
Deferred Revenue Arrangement [Line Items] | |||
Deferred revenue recognized | 6,094 | $ 1,063 | |
Deferred revenue recognized, including related party | 6,964 | 4,540 | |
Coal, Hard Mineral Royalty and Other | Affiliated Entity | |||
Deferred Revenue Arrangement [Line Items] | |||
Deferred revenue recognized | $ 870 | $ 3,477 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | Apr. 20, 2016 | Feb. 12, 2016 | Feb. 13, 2015 | Apr. 30, 2016 |
Subsequent Event [Line Items] | ||||
Distribution paid (in dollar per share) | $ 0.45 | $ 3.50 | ||
Subsequent Event | ||||
Subsequent Event [Line Items] | ||||
Distribution paid (in dollar per share) | $ 0.45 | |||
Leasing Arrangement | Subsequent Event | ||||
Subsequent Event [Line Items] | ||||
Deferred revenue recognized | $ 35 | |||
Central Appalachia Coal Royalty Lease Termination | Subsequent Event | ||||
Subsequent Event [Line Items] | ||||
Deferred revenue recognized | 26.2 | |||
Lease Modifications of Existing Coal Royalty Leases | Subsequent Event | ||||
Subsequent Event [Line Items] | ||||
Deferred revenue recognized | $ 9 |