Alliance Resource Partners Increases Unit Repurchase Program; Announces Mineral Acquisition

(RTTNews) - Alliance Resource Partners, L.P. (ARLP) announced that the Board has authorized an increase to the previously established unit repurchase program, which had $6.5 million of available capacity as of December 31, 2022. The expanded unit repurchase program authorizes ARLP to repurchase up to $100.0 million of its outstanding limited partner common units.

The company also announced that, on January 27, 2023, the Board approved an acquisition of 2,682 net oil and gas royalty acres in the Permian Basin from JC Resources LP, an entity owned by Craft, for a cash purchase price of $72.3 million. Upon closing, the acquisition is anticipated to be immediately accretive to cash flow.