Davis Polk Advises Contura on the Sale of Powder River Basin Assets

Davis Polk advised Contura Energy, Inc. on the sale by certain of its subsidiaries to Blackjewel L.L.C. of the Eagle Butte and Belle Ayr mines located in the Powder River Basin in Wyoming, along with related coal reserves, equipment, infrastructure and other real properties. Under the terms of the transaction, Contura will receive deferred consideration of up to $50 million through various royalty payments.

Contura Energy is a private, Tennessee-based coal supplier with affiliate mining operations across major coal basins in Pennsylvania, Virginia and West Virginia. Blackjewel L.L.C. is a private company based in West Virginia.

The Davis Polk corporate team included partners Lee Hochbaum and William L. Taylor and associates Faizan A. Tukdi and Daisy Wu. Partner David H. Schnabel and associate Elina Khodorkovsky provided tax advice. Partner Jeffrey P. Crandall provided executive compensation advice. Counsel Lawrence R. Plotkin and associate Cameron W. Ormsby provided real estate advice. Counsel David A. Zilberberg provided environmental advice. All members of the Davis Polk team are based in the New York office.