Natural Resource Partners Acquires Frac Sand ORRI

Natural Resource Partners NRP today reported the acquisition of a 21-year term overriding royalty interest in frac sand reserves located on approximately 711 acres near Tyler, Texas for a purchase price of $16.5 million, of which $14.4 million was funded at closing. The $14.4 million was funded with cash remaining from NRP's recent senior notes offering. The remaining $2.1 million will be funded upon satisfactory completion of a condition precedent.