The former secured noteholders of Armstrong Energy Inc., who previously held 49% of the common equity of Western Kentucky, received certain second lien notes of Murray Energy.
“Murray Energy and Murray Kentucky are pleased that we were able to reach an agreement with the former secured noteholders of Armstrong Energy Inc. to acquire the remaining interest in Western Kentucky,” said Robert E. Murray, chairman, president and CEO of Murray Energy. “We look forward to working with Western Kentucky’s customers and employees in order to ensure the maximum success of these operations.”
Western Kentucky has more than 400 employees and owns five mines in the Illinois Basin, including three surface mines and two operating underground mines. The underground mines are The Western Kentucky Coal Company’s LLC’s Genesis mine and The Muhlenberg County Coal Co.’s LLC’s Pride mine. Western Kentucky also owns three existing coal processing plants, and certain river dock coal handling and rail loadout facilities. Western Kentucky has 337 million tons of coal reserves.