Cloud Peak Energy Denies Bid On Maysdorf II North Tract LBA - Quick Facts

(RTTNews) - Coal producer Cloud Peak Energy Inc. (CLD) Wednesday confirmed it did not submit a bid for the Maysdorf II North Tract Lease by Application, or LBA. The Bureau of Land Management had estimated this LBA to contain about 149 million mineable tons adjacent to the company's 8400 Btu Cordero Rojo Mine in Wyoming. The lease sale notice issued for the Maysdorf II North Tract set a sale date of August 21.

The company's CEO Colin Marshall said, "We carefully evaluated the estimated economics of this LBA in light of current market conditions and the uncertainty caused by the current political and regulatory environment towards coal and coal-powered generation and ultimately decided it was prudent not to bid at this time..."

Marshall said the company will continue to evaluate possible future lease sales by the Bureau of Land Management of these tons in the North tract as market conditions improve.