Walter Energy has executed a definitive purchase and sale agreement to acquire the existing North River steam coal mine in Fayette County and Tuscaloosa County, Ala., from a subsidiary of Chevron Corp. The company will also lease approximately 75 million tons of recoverable Blue Creek coking coal reserves in Tuscaloosa County from Chevron. Terms of the leases include royalty rates that are in line with existing agreements. Total consideration for the North River transaction includes minimal cash due at closing and also includes the assumption of certain liabilities. Walter Energy expects to close on both transactions April 30, 2011.