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COAL

In the U.S. and other countries today, the coal industry has come under siege from both regulators and environmentalists. It has also become a regular talking point among politicians who either raise it as a jobs issue or as a climate change/public health flashpoint. Yet coal has always been and is today a staple in the world’s energy diet. It’s abundant and relatively cheap. About 40 percent of today’s power generated in the United States is still produced in coal-fired plants.

  • Penn Virginia Resource Partners, LP – $75 million revolver and term loan facility (counsel to agent)
  • Litigated contribution claims asserted by the UMWA Health and Retirement Funds under both wage agreements and the Coal Industry Retiree Health Benefit Act of 1992.
  • Represented Arch Coal, Inc. – $350 million revolver and term loan (counsel to the co-agents)
  • Provided comprehensive real estate counsel, which included negotiating and preparing coal leases and mineral conveyances, examining mineral titles, appraising mineral rights and identifying and resolving impediments to mining.
  • Represented producers and consumers in drafting short-term and long-term coal supply agreements and transportation agreements.
  • Represented national coal and construction companies in the renegotiation and arbitration of contract mining agreements.
  • Represented national coal producers in initial public offerings, spin-offs, agented private placements, mergers, acquisitions and sales.
  • On behalf of a major U.S. coal company, obtained a court declaration upholding the client's termination of a long-term coal supply agreement.
  • Alpha Natural Resources
    Assisted Alpha Natural Resources with the executive compensation and employee benefits aspects of its acquisition of Massey Energy Company.
  • Served as party-appointed and neutral arbitrators for large coal producers in arbitration actions involving force majeure claims and complex mining operational issues.
  • CONSOL Energy Inc. – $127.5 million liquidity facility (counsel to securitization conduit and liquidity provider)
  • CONSOL Energy Inc. Capital Raising
    Represented CONSOL Energy Inc. in its capital raising of over $4.6 billion. Serving as securities counsel for CONSOL's simultaneous underwritten common stock public offering of approximately $1.8 billion and underwritten private offering of $2.75 billion of senior notes. The proceeds from these offerings enabled CONSOL to complete its $3.5 billion purchase of Dominion's oil and gas exploration business.
  • Alpha Natural Resources, Inc. Executive Compensation
    Assisted the Board of Directors of Alpha Natural Resources, Inc., with executive compensation and corporate governance aspects of its all-stock merger with Foundation Coal Holdings, Inc., which created one of the foremost U.S. coal producers.
  • Represented quarry companies in litigation brought by third parties involving the issuance of their non-coal mining permits.
  • Natural Resource Partners LP – $100 million revolver and term facility (counsel to agent)
  • Assisted a company regarding environmental conditions and environmental permits associated with a coke facility.
  • Represented companies in litigation concerning the alleged breach of long-term coal supply agreements. Most recently, our litigators have secured verdicts in excess of $60 million and $200 million in litigation enforcing clients' rights under such agreements.
  • Represented a large coal company in regulatory litigation regarding coal rights and conflicting oil and gas interests in a case of first impression before the Pennsylvania Environmental Hearing Board.
  • Represented national coal producers in connection with formation and development of incentive compensation programs.
  • Analyzed and provided advice with respect to long-term coal supply agreements, including the negotiation and litigation of contractual coal requirements, market reopeners, renegotiation rights and other contract and commercial issues.
  • Represented Arch Western Resources LLC – $100 million revolving credit facility (counsel to agent)
  • On behalf of a number of national coal producers, obtained court declarations upholding these companies' assertions of force majeure as a result of adverse mining conditions and other issues.
  • Represented a major financial institution in coal financing projects, including conducting due diligence regarding real estate, environmental and reclamation issues, and advising on related title issues.
  • Peabody Coal Company – $142.8 million liquidity facility (counsel to conduit and liquidity provider)
  • Represented a surety company regarding a coal mining reclamation bond dispute and water quality violations in litigation in West Virginia Circuit Court, the West Virginia Surface Mine Board and the United States Bankruptcy Court for the Southern District of West Virginia.