Alliance Resource Partners has announced increased revenues for the second quarter of 2021 of $362.4m, net income jumped by 77.9% to $44m and pretax earnings rose by 25.7% to $118.6m, all as compared to the sequential quarter ended March 31, 2021.
In the company’s Oil & Gas Royalties segment, significantly higher sales price realizations per boe in the second quarter of 2021 more than offset lower volumes leading segment adjusted EBITDA to increase by $8.5m and $3.5m compared to the 2020 and Sequential Quarters, respectively.
ARLP is a diversified natural resource company that generates operating and royalty income from coal produced by its mining complexes and royalty income from mineral interests it owns in strategic oil and gas producing regions in the US, primarily the Permian, Anadarko and Williston basin.
“Oil, gas and natural gas liquids prices have increased and remain well above our previous expectations,” said ARLP chairman, president, and CEO Joseph W. Craft III. “Drilling and completion activity is also greater than previously anticipated, leading us to increase our 2021 full-year production volume expectations. In addition, increased sales volumes at ARLP’s coal mines are expected to benefit our coal royalties segment. With expectations of increased oil, gas and coal production and strong commodity pricing, we believe the contribution of our royalty segments to ARLP’s consolidated results will continue to grow.”
For more information visit: www.arlp.com
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