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Stock Market & Financial Investment News

News Breaks
June 18, 2014
06:49 EDTFELPForesight Energy 17.5M share IPO priced at $20.00
The deal range was $19.00-$21.00. Barclays, Citigroup, Morgan Stanley, JPMorgan, Goldman and Deutsche Bank acted as joint book running managers for the offering.
News For FELP From The Last 14 Days
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July 29, 2014
15:36 EDTFELPForesight Energy says exam appears to show Hillsboro Mine fire extinguished
Foresight Energy announced that on July 28 a team of examiners and Mine Safety and Health Administration authorities reentered the Hillsboro Energy Deer Run Mine and conducted an examination. This examination included visual observations and air quality and quantity readings throughout the mine. Based on this exam, and the continued low carbon monoxide levels, it appears that the effort to contain and extinguish the fire has been successful. In addition, during the examination process, a limited section of the headgate area of the longwall was observed. Based on this limited observation, it appears there was no damage to the longwall and related equipment. The next step in the reentry process is to pump water from the mine, which commenced last night. After sufficient pumping, an observation period will begin. During the observation period, mine personnel will be working with MSHA on a plan for the workforce to reenter the mine, the company said.
July 21, 2014
09:27 EDTFELPForesight Energy provides Hillsboro Mine update
Foresight Energy LP announced that efforts to extinguish the fire at its Hillsboro Energy LLC’s Deer Run Mine continued over the weekend, including pumping water into the mine. The results were encouraging as carbon monoxide readings declined significantly. Foresight, together with the Mine Safety and Health Administration, is presently attempting to corroborate the monitoring readings with conditions underground. Various protocols and procedures must be implemented before it can be verified that the fire has been extinguished. The fire occurred and was contained in a tail-gate section of a previously mined area and was not near current development or longwall operations of the mine. Since production ceased on Tuesday, the mine’s customers have been serviced from Hillsboro Energy’s inventory. No force majeure has yet been declared but the company is reserving all of its rights under various coal supply agreements until it has a better understanding of the impact on its long term production.Although the full extent of the damage cannot be determined until MSHA determines it safe to enter the mine, Foresight does not currently anticipate that this event will have a material adverse effect on partnership results.
July 17, 2014
12:08 EDTFELPForesight Energy reports fire at Hillsboro mine
Foresight Energy LP announced that Monday July 14, at approximately 7:30 pm Central Daylight Time, high carbon monoxide readings were detected at Hillsboro Energy LLC’s Deer Run Mine located near Hillsboro, Illinois, indicating the existence of a fire. All underground employees were safely evacuated and none sustained injuries. Hillsboro officials identified the affected area and have been working with federal and state officials implementing an approved plan to contain and extinguish. Two holes have been drilled into the coal mine and water is being pumped into the affected area. The Deer Run mine produces approximately 500,000 clean tons per month under normal operations.

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