Coal royalties boost Penn Virginia Resource Partners Q2 2008 earnings

摘要

Revenues for Penn Virginia Resource Partners rose to 276.5 million dollars in the second quarter of this year, compared with 144 million dollars in the same quarter a year ago, owing to higher coal royalties and natural gas prices, company executives said in an earnings call on Thursday. "PVR Coal & Natural Resource Management had a strong second quarter, with 16 percent sequential increase in lessee coal production," A. James Dearlove, chairman and CEO said in a statement. "In addition, we benefited from higher coal prices, especially in Central Appalachia and the Illinois Basin, where average coal royalties per ton increased 23 percent and 10 percent, respectively."