Penn Virginia Resource Buys Coal Reserves for $13.5 Million

Reuters reported that Penn Virginia Resource Partners LP (NYSE:PVR) has purchased coal reserves from Indianapolis Power & Light Co (PINK:IPWLO).

The market news is quoted as saying:

The acquired Oatsville Reserve properties are located on about 5,875 acres in Gibson and Pike counties in Indiana and are in close proximity to 16 coal-fired power plants, the company said in a statement.

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