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Share Name | Share Symbol | Market | Type |
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Foresight Energy Partners LP | NYSE:FELP | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.1582 | 0 | 01:00:00 |
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): December 20, 2017
FORESIGHT ENERGY LP
(Exact Name of Registrant as Specified in Charter)
Delaware |
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001-36503 |
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80-0778894 |
(State or Other Jurisdiction of Incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
211 North Broadway Suite 2600 Saint Louis, MO |
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63102 |
(Address of Principal Executive Offices) |
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(Zip Code) |
Registrant’s telephone number, including area code: (314) 932-6160
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (( § 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 ( § 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
On December 20, 2017, the Board of Directors of Foresight Energy GP LLC, the general partner of Foresight Energy LP (the “Partnership”), approved the submission of a re-entry plan to the Mine Safety and Health Administration (MSHA) for the Deer Run Mine at the Partnership’s Hillsboro Energy complex. The re-entry submission contains a plan for the permanent sealing of the current longwall district of the Deer Run Mine immediately upon MSHA’s approval. At this time, the Partnership is uncertain as to when production will resume at its Deer Run Mine.
In connection with the proposed re-entry plan, certain longwall equipment and other related assets will be permanently sealed within or may not be recovered from the Deer Run Mine. As such, the Partnership expects to record an aggregate impairment charge between $42 million and $67 million in the fourth quarter of 2017. The impairment charge represents the estimated net book value of the certain longwall equipment and other related assets as of December 2017. The Partnership expects the permanent sealing of the current longwall district to result in future cash expenditures between $0.8 million and $1.5 million.
Forward-Looking Statements
This Form 8-K c o n ta i n s, and oral statements made from time to time by our representatives may contain, “ f o r w a rd - l oo k i n g ” s tate m e n ts w it h in t h e m ea n i n g o f t h e f e d e r al s ec u r ities la w s . T h e s e s tate m e n ts include, without limitation statements regarding the operations at our Deer Run Mine and other statements that c on tain w ord s s u ch as “ po s s i b le , ” “ i n t e n d, ” “ w i l l , ” “ i f ” a n d “ e x p ect” a n d actual results can b e i m p acted b y nu m e ro u s f act or s , i n cl u d i n g operation r i s k s r elati n g to t h e s ec u r ities m ar k et s , t h e i m p act o f a d v e r s e m ar k et c o n d iti o n s a f f ecti n g bu s i n e s s o f t h e P a r t n e r sh i p , a d v e r s e c h a n g es i n la w s i n cl u d i n g w i t h r e s p ect to tax a n d r e g u la t or y m atte r s a n d o t h er r i s k s . T h e r e can b e n o a ssu r a n ce t h at act u al r e s u lts w i ll n o t d i ff er f ro m t h o s e e x p ected b y m a n a g e m e n t o f t h e P a r t n e r sh i p . K n o w n m ate r ial f act or s t h at c o u ld ca us e act u al r e su l ts to d i f f er f r o m t h o s e in t h e f o r w a r d - l o o k i n g s tate m e n t s a r e d e s c r i b ed in P a r t I , “ I tem 1 A . R i s k Fact or s ” o f t h e P a r t n e r s h i p ’ s A n n u al R e por t o n F or m 10 - K f iled o n Ma r ch 1 , 2 0 17. T h e P a r t n e r sh ip u n d e r ta k es n o ob li g ati o n to u pd ate o r r e v i s e su ch f o r w a rd - l oo k i n g s tate m e n ts to r e f lect e v e n ts o r ci r c um s ta n ces t h at o cc u r , o r w h ich t h e P a r t n e r s h i p b ec o m es a w a r e o f , a f ter t h e d ate h e r e o f .
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Foresight Energy LP |
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By: |
Foresight Energy GP LLC, |
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its general partner |
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By: |
/s/ Robert D. Moore |
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Robert D. Moore |
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President, Chairman and Chief Executive Officer |
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Date: December 22, 2017 |
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1 Year Foresight Energy Partners Chart |
1 Month Foresight Energy Partners Chart |
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