The master limited partnership predicted 2007 revenues of $US222-238 million and a 40% lift in distributable cash flow to $160-180 million. Annualised distribution for 2006 was $3.52 per unit.
In 2007 NRP will continue to rely on coal royalty revenues, which are forecast to be $175-185 million based on $2.85-2.95 per ton.
Override royalties will be significantly up in 2007 as the company receives royalties from production on adjacent property operated by lessees.
NRP expects about 22% of production and 27% of coal royalty revenues to come from metallurgical coal.
“We are off to a great start in 2007 by closing two previously announced major acquisitions since the first of the year. Over the last 12 months, NRP has closed eight coal reserve acquisitions, two preparation plant acquisitions and one acquisition of aggregate reserves, allowing us to continue to grow our distributions," NRP chief Corbin Robertson Jr said.
“Our objective continues to be to grow our distributions by making accretive acquisitions and by actively managing our assets. With the addition of the coal processing and transportation and the aggregates platforms this past year, we now have three platforms for growth and continue to see an active pipeline of opportunities."