Westmoreland Resource Partners, LP (WMLP)

ENGLEWOOD, Colo.--(BUSINESS WIRE)--Westmoreland Resource Partners, LP (NYSE:WMLP) (“WMLP”) today announced its 2015 results. Highlights from 2015 include: Reported incident rate and lost time rate of 1.05 and 0.35, respectively, which were each significantly better than the U.S. national average; Revenue for 2015 totaled $384.7 million, driven by tons sold of 8.5 million; Adjusted EBITDA for 2015 was $66.1 million driven by the August 1, 2015 acquisition of Kemmerer Mine; and Distributable cash flow for 2015 was $16.4 million, resulting in a distribution coverage ratio of 2.11 for 2015. Safety WMLP is committed to uncompromised safety for its employees and, accordingly, places mine safety at the forefront of its business operations. During the year ended 2015, WMLP continued to maintain reportable and lost time incident rates significantly below the U.S. national average, as indicated in the table below. ReportableRate Lost TimeRate Financial Results Financial results for WMLP for the years ended December 31, 2015 and 2014 (pro forma) were as follows: 1 As the Westmoreland Kemmerer, LLC (the "Kemmerer Mine”) acquisition represents a transfer of entities under common control, the 2014 and 2015 financial information presented herein includes the historical results of the Kemmerer Mine for the year ended December 31, 2015 and includes the historical proforma results of the Kemmerer Mine for the year ended December 31, 2014. 2 The definitions of Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio, which are non-GAAP financial measures, and a reconciliation thereof to Net Loss, a comparable GAAP financial measure, are included in a table presented at the end of this press release. 3 In 2014, revenues, net loss, adjusted EBITDA and distributable cash flow benefited from a one-time favorable legal settlement totaling $17.5 million. Distributions In 2015, WMLP generated distributable cash flow of $16.4 million and distributed in cash a total of $7.8 million, or $0.60 per common unit and $0.20 per Series A Convertible unit. In addition, a distribution totaling $1.2 million, or $0.20 per common unit for the fourth quarter of 2015 occurred on February 12, 2016. Conference Call WMLP will conduct a joint earnings conference call with its parent, Westmoreland Coal Company (NasdaqGM:WLB), which owns 93.9% of WMLP, for financial analysts and investors on Tuesday, March 8, 2016 at 10:30 a.m. Eastern Time. Dial-in numbers for the live conference call are as follows: Live Participant Dial In (Toll Free): 844-WCC-COAL (844-922-2625)Live Participant Dial In (International): 201-689-8584 Live webcast of the call can be accessed at www.westmoreland.com/investors. A replay of the call will be available until March 22, 2016 and can be accessed as follows: Replay Dial In (Toll Free): 877-660-6853Replay Dial In (International): 201-612-7415Replay Conference ID: 13631403 About Westmoreland Resource Partners, LP Westmoreland Resource Partners, LP is a low-cost producer of high-value thermal coal in Northern Appalachia and the Rocky Mountain region of the United States. It markets its coal primarily to large electric utilities with coal-fired, base-load scrubbed power plants under long-term coal sales contracts. For more information about Westmoreland Resource Partners, LP (NYSE: WMLP), please visit www.westmorelandmlp.com. Financial and other information about the Partnership is routinely posted on and accessible at www.westmorelandmlp.com. Cautionary Note Regarding Forward-Looking Statements Forward-looking statements are based on WMLP's current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements, including WMLP's projections for 2016 performance. WMLP cautions you against relying on any of these forward-looking statements. They are statements neither of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include political, economic, business, competitive, market, weather and regulatory conditions. Any forward-looking statements made by WMLP in this news release speak only as of the date on which it was made. WMLP undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law. EBITDA and Adjusted EBITDA EBITDA and Adjusted EBITDA are supplemental measures of financial performance that are not required by, or presented in accordance with, GAAP. EBITDA and Adjusted EBITDA are key metrics used by us to assess our operating performance, and we believe that EBITDA and Adjusted EBITDA are useful to an investor in evaluating our operating performance because these measures: are used widely by investors to measure a company’s operating performance without regard to items excluded from the calculation of such terms, which can vary substantially from company to company depending upon accounting methods and book value of assets, capital structure and the method by which assets were acquired, among other factors; and help investors to more meaningfully evaluate and compare the results of our operations from period to period by removing the effect of our capital structure and asset base from our operating results. Neither EBITDA nor Adjusted EBITDA are measures calculated in accordance with GAAP. The items excluded from EBITDA and Adjusted EBITDA are significant in assessing our operating results. EBITDA and Adjusted EBITDA have limitations as analytical tools and should not be considered in isolation from, or as a substitute for, analysis of our results as reported under GAAP. For example, EBITDA and Adjusted EBITDA: do not reflect our cash expenditures or future requirements for capital and major maintenance expenditures or contractual commitments; do not reflect changes in, or cash requirements for, our working capital needs; and do not reflect the significant interest expense, or the cash requirements necessary to service interest or principal payments, on certain of our debt obligations. In addition, although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and EBITDA and Adjusted EBITDA do not reflect any cash requirements for such replacements. Other companies in our industry and in other industries may calculate EBITDA and Adjusted EBITDA differently from the way that we do, limiting their usefulness as comparative measures. Because of these limitations, EBITDA and Adjusted EBITDA should not be considered as measures of discretionary cash available to us to invest in the growth of our business. We compensate for these limitations by relying primarily on our GAAP results and using EBITDA and Adjusted EBITDA only as supplemental data. Distributable Cash Flow Distributable Cash Flow represents Adjusted EBITDA less cash interest expense (net of interest income), reserve replacement expenditures, maintenance capital expenditures, cash reclamation expenditures and noncontrolling interest. Cash interest expense represents the portion of our interest expense accrued and paid in cash during the reporting periods presented or that we will pay in cash in future periods as the obligations become due. Other maintenance capital expenditures represent expenditures for coal reserve replacement, and for plant, equipment and mine development. Cash reclamation expenditures represent the reduction to our reclamation and mine closure costs resulting from cash payments. Earnings attributable to the noncontrolling interest are not available for distribution to our unitholders and accordingly are deducted. Distributable Cash Flow should not be considered as an alternative to net income (loss) attributable to our unitholders, income from operations, cash flows from operating activities or any other measure of performance presented in accordance with GAAP. Although Distributable Cash Flow is not a measure of performance calculated in accordance with GAAP, we believe Distributable Cash Flow is useful to investors because this measurement is used by many analysts and others in the industry as a performance measurement tool to evaluate our operating and financial performance, facilitating comparison with the performance of other publicly traded limited partnerships. Distribution Coverage Ratio Distribution Coverage Ratio represents the amount of actual cash distribution we made relative to the amount we could potentially pay-out represented by Distributable Cash Flow. The Distribution Coverage Ratio is calculated by dividing Distributable Cash Flow by actual distributions paid for the period. 1 As the Kemmerer Mine acquisition represents a transfer of entities under common control, the 2014 and 2015 financial information presented herein includes the historical results of the Kemmerer Mine for the year ended December 31, 2015 and includes the historical proforma results of the Kemmerer Mine for the year ended December 31, 2014. 2 Includes non-cash activity from the change in fair value of investments and warrants as well as non-recurring cost associated with the Kemmerer Drop. 3 Includes payments made to pay down our Term Loan as well as capital lease payments and debt issuance costs.

ENGLEWOOD, Colo.--(BUSINESS WIRE)--Westmoreland Resource Partners, LP (NYSE:WMLP) ("WMLP" or the "Partnership") today reported its results for the third quarter 2015. As released on August 4, 2015, WMLP results now include Westmoreland Kemmerer, LLC ("WKL") for all periods presented. Highlights for the third quarter 2015 include: Adjusted EBITDA for the third quarter 2015 of $16.1 million, compared to $19.6 million in the third quarter 2014 on a pro forma basis. Distributable Cash Flow for the third quarter 2015 of $3.0 million, down from $26.2 million in the third quarter 2014 on a pro forma basis. Distributable cash flow for the third quarter 2014 included proceeds of $17.6 million from a legal settlement. Westmoreland Resources GP, LLC, general partner of WMLP, declared a cash distribution for all unitholders and warrant holders of $0.20 per unit for its third quarter ended September 30, 2015. The distribution will be paid on November 13, 2015 to all unitholders and warrant holders of record as of the close of business on November 6, 2015. Achieved a reportable incident rate of 0.49 which is 28.7% of the national surface coal reportable rate of 1.71, with no lost time in the third quarter 2014. Safety During the three months ended September 30, 2015, WMLP continued to maintain reportable and lost time incident rates significantly below Appalachian Basin averages, as indicated in the table below. Three Months EndedSeptember 30, 2015 ReportableRate Lost TimeRate Financial Results (in thousands, except tons data) Three Months EndedSeptember 30, Increase (Decrease) 2015 2014 $ % 1 As the WKL acquisition represents a transfer of entities under common control, the 2015 financial information presented herein have been recast to include the historical results of WKL since December 31, 2014, the date WMLP and WKL became under common control of WCC. 2 The pro forma 2014 financial information presented herein includes the historical results of WMLP and WKL 3 The definition of Adjusted EBITDA, which is a non-GAAP financial measure, and a reconciliation thereof to Net Loss, a comparable GAAP financial measure.4 Distributable cash flow is not defined in GAAP. Distributable cash flow is presented because it is helpful to management, industry analysts, investors, lenders and rating agencies in assessing our financial performance. A reconciliation thereof to Net Loss, a comparable GAAP financial measure, are included in a table presented near the end of this press release. We reported total revenues of $94.3 million for the three months ended September 30, 2015, compared to $136.4 million for the three months ended September 30, 2014 on a pro forma basis. The decrease of $42.1 million was principally due to a one-time legal settlement for lost coal sales of $17.6 million received during the three months ended September 30, 2014, in addition to a decrease of 0.4 million tons sold or $19.7 million compounded by a $1.14 decrease in average selling price per ton or $2.4 million to $44.91 per ton for the three months ended September 30, 2015 from $46.05 for the three months ended September 30, 2014 on a pro forma basis. We reported net loss of $12.7 million for the three months ended September 30, 2015, compared to net income of $14.0 million for the three months ended September 30, 2014 on a pro forma basis. Additionally, we reported Adjusted EBITDA of $16.1 million for the three months ended September 30, 2015, compared to $19.6 million for the three months ended September 30, 2014. We reported distributable cash flow of $3.0 million for the three months ended September 30, 2015, compared to distributable cash flow of $26.2 million for the three months ended September 30, 2014 on a pro forma basis. Distributable cash flow for the three months ended September 30, 2014 was enhanced by proceeds of $17.6 million for a legal settlement. The gross profit margin per ton sold decreased $0.31 per ton for the three months ended September 30, 2015 to $7.43 per ton sold from $7.74 per ton for the three months ended September 30, 2014. Business Update Cash Distribution Westmoreland Resources GP, LLC, general partner of WMLP, declared a cash distribution for all of our unitholders and warrant holders of $0.20 per unit for its third quarter ended September 30, 2015. The distribution will be paid on November 13, 2015 to all unitholders and warrant holders of record as of the close of business on November 6, 2015. This press release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of WMLP's distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, WMLP's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate. Conference Call A conference call regarding Westmoreland Resource Partners, LP's 2014 results will be held on October 23, 2015, at 10:00 a.m. Eastern Time. Call-in numbers are: Live Participant Dial In (Toll Free): 844-WCC-COAL (844-922-2625)Participant Dial In (International): 201-689-8584 _________________________________ About Westmoreland Resource Partners, LP Westmoreland Resource Partners, LP is a low-cost producer of high-value thermal coal in Northern Appalachia. It markets its coal primarily to large electric utilities with coal-fired, base-load scrubbed power plants under long-term coal sales contracts. For more information about Westmoreland Resource Partners, LP (NYSE: WMLP), please visit www.westmorelandmlp.com. Financial and other information about the Partnership is routinely posted on and accessible at www.westmorelandmlp.com. Cautionary Note Regarding Forward-Looking Statements Forward-looking statements are based on WMLP's current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements, including WMLP's projections for 2015 performance. WMLP cautions you against relying on any of these forward-looking statements. They are statements neither of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include political, economic, business, competitive, market, weather and regulatory conditions. Any forward-looking statements made by WMLP in this news release speak only as of the date on which it was made. WMLP undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

ENGLEWOOD, Colo.--(BUSINESS WIRE)--Westmoreland Resource Partners, LP (NYSE:WMLP) ("WMLP") today reported its results for the three and six months ended June 30, 2015, which include: Adjusted EBITDA for the second quarter 2015 of $10.2 million, compared to $13.0 million in the second quarter 2014. Distributable Cash Flow for the second quarter 2015 of $2.5 million, down from $3.8 million in the second quarter 2014. Westmoreland Resources GP, LLC, general partner of WMLP, declared a cash distribution for all unitholders and warrant unitholders of $0.20 per unit for its second quarter ended June 30, 2015. The distribution will be paid on August 14, 2015, to all unitholders and warrant unitholders of record as of the close of business on August 7, 2015. Achieved a reportable incident rate of 0.65, 38.0% of the national surface coal reportable rate of 1.71, with no lost time. Safety During the three months ended June 30, 2015, WMLP continued to maintain reportable and lost time incident rates significantly below Appalachian Basin averages, as indicated in the table below. Three Months EndedJune 30, 2015 ReportableRate Lost Time Rate Financial Results 1 The definition of Adjusted EBITDA, which is a non-GAAP financial measure, and a reconciliation thereof to Net Loss, a comparable GAAP financial measure, are included in a table presented near the end of this press release. 2 Distributable cash flow is not defined in GAAP. Distributable cash flow is presented because it is helpful to management, industry analysts, investors, lenders and rating agencies in assessing our financial performance. A reconciliation thereof to Net Loss, a comparable GAAP financial measure, is included in a table presented near the end of this press release. We reported total revenues of $59.5 million for the three months ended June 30, 2015, compared to $82.0 million for the three months ended June 30, 2014. The decrease of $22.5 million was principally due to decreased sales and production volumes following the new, lower production plan for the Ohio mines. The decrease in tons sold and produced resulted from a decrease in market demand. We reported net loss of $6.4 million for the three months ended June 30, 2015, compared to $3.4 million for the three months ended June 30, 2014. Additionally, we reported Adjusted EBITDA of $10.2 million for the three months ended June 30, 2015, compared to $13.0 million for the three months ended June 30, 2014. The average coal sales price per ton sold increased by $0.74 to $53.23 per ton sold in the three months ended June 30, 2015, compared to $52.49 per ton sold in the three months ended June 30, 2014. For the three months ended June 30, 2015 and 2014, our consolidated results include items that affect comparability of our results. The expense components of these items were as follows: Kemmerer acquisition-related costs Restructuring Expense Restructuring expense of $0.1 million for the three months ended June 30, 2015, related to severance expenses incurred in the closing of the corporate offices in Columbus, Ohio, and the elimination of other nonessential roles. Kemmerer Acquisition-Related Costs In June 2015, we announced the acquisition of Westmoreland Kemmerer LLC ("Kemmerer") from Westmoreland Coal Company. For the three months ended June 30, 2015, we have incurred and expensed $1.1 million in acquisition-related costs for various legal and investment banking expenses. Business Update Cash Distribution Westmoreland Resources GP, LLC, general partner of WMLP, declared a cash distribution for all of our unitholders and warrant unitholders of $0.20 per unit for its second quarter ended June 30, 2015. The distribution will be paid on August 14, 2015, to all unitholders and warrant unitholders of record as of the close of business on August 7, 2015. This press release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of WMLP's distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, WMLP's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate. Conference Call A conference call regarding Westmoreland Resource Partners, LP's 2014 results will be held on July 24, 2015, at 10:00 a.m. Eastern Time. Call-in numbers are: Live Participant Dial In (Toll Free): 844-WCC-COAL (844-922-2625)Participant Dial In (International): 201-689-8584 About Westmoreland Resource Partners, LP Westmoreland Resource Partners, LP is a low-cost producer of high-value thermal coal in Northern Appalachia. It markets its coal primarily to large electric utilities with coal-fired, base-load scrubbed power plants under long-term coal sales contracts. For more information about Westmoreland Resource Partners, LP (NYSE:WMLP), please visit www.westmorelandmlp.com. Financial and other information about the Partnership is routinely posted on and accessible at www.westmorelandmlp.com. Cautionary Note Regarding Forward-Looking Statements Forward-looking statements are based on WMLP's current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements, including WMLP's projections for 2015 performance. WMLP cautions you against relying on any of these forward-looking statements. They are statements neither of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include political, economic, business, competitive, market, weather and regulatory conditions. Any forward-looking statements made by WMLP in this news release speak only as of the date on which it was made. WMLP undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

ENGLEWOOD, Colo.--(BUSINESS WIRE)--Westmoreland Resource Partners, LP (NYSE:WMLP) ("WMLP") today reported its results for the three months ended March 31, 2015 which include: An increase of $0.3 million in Adjusted EBITDA for the three months ended March 31, 2015 to $9.6 million compared to Adjusted EBITDA of $9.2 million for the three months ended March 31, 2014. Westmoreland Resources GP, LLC, general partner of WMLP, declared a cash distribution for all unitholders and warrant unitholders of $0.20 per unit for its first quarter ended March 31, 2015. The distribution will be paid on May 15, 2015 to all unitholders and warrant unitholders of record as of the close of business on May 8, 2015. WMLP continued their strong safety performance achieving a zero reportable and lost time incident rates for surface mining operations for the three months ended March 31, 2015. "In this, our first quarter of ownership of WMLP, we began transitioning the business on to Westmoreland's systems," noted Keith Alessi, Chief Executive Officer. "We are operating the business with an emphasis on Distributable Cash Flow and it performed in line with our expectations." Safety During the three months ended March 31, 2015, WMLP continued to maintain reportable and lost time incident rates significantly below Appalachian Basin averages, as indicated in the table below. Three Months EndedMarch 31, 2015 ReportableRate — 1.19 Financial Results 1 The definition of Adjusted EBITDA, which is a non-GAAP financial measure, and a reconciliation thereof to Net Loss, a comparable GAAP financial measure, are included in a table presented near the end of this press release. 2Distributable cash flow is not defined in GAAP. Distributable cash flow is presented because it is helpful to management, industry analysts, investors, lenders and rating agencies in assessing our financial performance. A reconciliation thereof to Net Loss, a comparable GAAP financial measure, are included in a table presented near the end of this press release. We reported total revenues of $67.6 million for the three months ended March 31, 2015 compared to $78.0 million for the three months ended March 31, 2014. The decrease of $10.4 million was principally due to decreased sales and production volumes, which declined to 1.1 million tons sold and produced in the three months ended March 31, 2015 compared to 1.4 million tons sold and produced in the three months ended March 31, 2014. The decrease in tons sold and produced resulted from a decrease in market demand. We reported net loss of $10.3 million for the three months ended March 31, 2015 compared to $10.6 million for the three months ended March 31, 2014. Additionally we reported Adjusted EBITDA of $9.6 million for the three months ended March 31, 2015, an increase of $0.3 million from $9.2 million for the three months ended March 31, 2014. Both the net loss and Adjusted EBITDA were also favorably impacted by a $0.66 increase in average coal sales price per ton sold to $54.02 per ton sold in the three months ended March 31, 2015 compared to $53.36 per ton sold in the three months ended March 31, 2014. For the three months ended March 31, 2015 and 2014, our consolidated results include items that affect comparability of our results. The expense components of these items were as follows: 3Includes acquisition and transition costs included in cost of coal revenue related to the sale of inventory written up to fair value. Business Update Cash Distribution Westmoreland Resources GP, LLC, general partner of WMLP, declared a cash distribution for all of our unitholders and warrant unitholders of $0.20 per unit for its first quarter ended March 31, 2015. The distribution will be paid on May 15, 2015 to all unitholders and warrant unitholders of record as of the close of business on May 8, 2015. This press release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of WMLP's distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, WMLP's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate. Conference Call A conference call regarding Westmoreland Resource Partners, LP's 2014 results will be held on April 24, 2015, at 10:00 a.m. Eastern Time. Call-in numbers are: Live Participant Dial In (Toll Free): 844-WCC-COAL (844-922-2625)Participant Dial In (International): 201-689-8584 About Westmoreland Resource Partners, LP Westmoreland Resource Partners, LP is a low-cost producer of high-value thermal coal in Northern Appalachia. It markets its coal primarily to large electric utilities with coal-fired, base-load scrubbed power plants under long-term coal sales contracts. For more information about Westmoreland Resource Partners, LP (NYSE: WMLP), please visit www.westmorelandmlp.com. Financial and other information about the Partnership is routinely posted on and accessible at www.westmorelandmlp.com. Cautionary Note Regarding Forward-Looking Statements Forward-looking statements are based on WMLP's current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements, including WMLP's projections for 2015 performance. WMLP cautions you against relying on any of these forward-looking statements. They are statements neither of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include political, economic, business, competitive, market, weather and regulatory conditions. Any forward-looking statements made by WMLP in this news release speak only as of the date on which it was made. WMLP undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law. 1Working capital is a supplemental measures of financial performance that is not required by, or presented in accordance with, GAAP. We define working capital as current assets, plus advance royalties less current liabilities. AND DISTRIBUTABLE CASH FLOW3 2 Adjusted EBITDA EBITDA and Adjusted EBITDA are supplemental measures of financial performance that are not required by, or presented in accordance with, GAAP. EBITDA and Adjusted EBITDA are key metrics used by us to assess our operating performance and we believe that EBITDA and Adjusted EBITDA are useful to an investor in evaluating our operating performance because these measures: are used widely by investors to measure a company’s operating performance without regard to items excluded from the calculation of such terms, which can vary substantially from company to company depending upon accounting methods and book value of assets, capital structure and the method by which assets were acquired, among other factors; and help investors to more meaningfully evaluate and compare the results of our operations from period to period by removing the effect of our capital structure and asset base from our operating results. Neither EBITDA nor Adjusted EBITDA is a measure calculated in accordance with GAAP. The items excluded from EBITDA and Adjusted EBITDA are significant in assessing our operating results. EBITDA and Adjusted EBITDA have limitations as analytical tools, and should not be considered in isolation from, or as a substitute for, analysis of our results as reported under GAAP. For example, EBITDA and Adjusted EBITDA: do not reflect our cash expenditures, or future requirements for capital and major maintenance expenditures or contractual commitments; do not reflect changes in, or cash requirements for, our working capital needs; and do not reflect the significant interest expense, or the cash requirements necessary to service interest or principal payments, on certain of our debt obligations. In addition, although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and EBITDA and Adjusted EBITDA do not reflect any cash requirements for such replacements. Other companies in our industry and in other industries may calculate EBITDA and Adjusted EBITDA differently from the way that we do, limiting their usefulness as comparative measures. Because of these limitations, EBITDA and Adjusted EBITDA should not be considered as measures of discretionary cash available to us to invest in the growth of our business. We compensate for these limitations by relying primarily on our GAAP results and using EBITDA and Adjusted EBITDA only as supplemental data. 3 Distributable Cash Flow Distributable Cash Flow represents Adjusted EBITDA less cash interest expense (net of interest income), reserve replacement expenditures, maintenance capital expenditures, cash reclamation expenditures, and noncontrolling interest. Cash interest expense represents the portion of our interest expense accrued and paid in cash during the reporting periods presented or that we will pay in cash in future periods as the obligations become due. Other maintenance capital expenditures represent expenditures for coal reserve replacement, expenditures for plant, equipment and mine development. Cash reclamation expenditures represent the reduction to our reclamation and mine closure costs resulting from cash payments. Earnings attributable to the noncontrolling interest are not available for distribution to our unitholders and accordingly are deducted. Distributable Cash Flow should not be considered as an alternative to net income (loss) attributable to our unitholders, income from operations, cash flows from operating activities or any other measure of performance presented in accordance with GAAP. Although Distributable Cash Flow is not a measure of performance calculated in accordance with GAAP, we believe Distributable Cash Flow is useful to investors because this measurement is used by many analysts and others in the industry as a performance measurement tool to evaluate our operating and financial performance, facilitating comparison with the performance of other publicly traded limited partnerships. 4 Includes acquisition and transition costs included in cost of coal revenue related to the sale of inventory written up to fair value. 5 Per ton amounts are calculated by dividing the related amount on the financial statements by the number of tons sold. Although per ton amounts are not measures of performance calculated in accordance with GAAP, we believe they are useful to management and others, such as investors and lenders, in evaluating performance because they are widely used in the coal industry as a measure to evaluate a company's sales performance or control over costs. Because not all companies calculate these measures the same way, our calculations may not be comparable to similarly titled measures of other companies.

ENGLEWOOD, Colo.--(BUSINESS WIRE)--Westmoreland Resource Partners, LP (NYSE:WMLP) ("WMLP") today reported its results for fiscal year 2014. Highlights for the year ended December 31, 2014 include: Revenues totaled $322.3 million in 2014. Adjusted EBITDA of $36.3 million was achieved for 2014. WMLP continued their strong safety performance achieving reportable and lost time incident rates approximately 53.0% and 32.1%, respectively, of the Appalachian Basin averages for surface mining operations for the year ended December 31, 2014. As previously announced, WMLP's management intends to resume quarterly distributions of $0.20 per unit beginning in April 2015, or $5.0 million annually. “Westmoreland completed the acquisition of Oxford Resources GP, LLC, the general partner of Oxford Resource Partners, LP, and 79% of the limited partner interests of Oxford Resource Partners, LP, on December 31, 2014, changing the names of the entities to Westmoreland Resources GP, LLC and Westmoreland Resource Partners, LP, respectively,” noted Keith E. Alessi, Chief Executive Officer. “As such, we are reporting the fiscal year 2014 results today.” “As we have previously discussed, the ability to acquire the general partner and reset the limited partnership terms provided a unique opportunity to enter the MLP space on favorable terms. Because of this, we viewed the acquisition of the GP and LP interests as a platform to achieve future value enhancement. The 2014 operating results reflect company performance based on a different operating philosophy than the Westmoreland operating model.” Safety During 2014, WMLP continued to maintain reportable and lost time incident rates significantly below Appalachian Basin averages, as indicated in the table below. ReportableRate Lost TimeRate Financial Results )% Adjusted EBITDA was $36.3 million for the year ended December 31, 2014 compared to $42.1 million for the year ended December 31, 2013. Cash coal sales revenue increased 3.1 percent to $52.50 per ton for the year ended December 31, 2014 from $50.92 per ton for the year ended December 31, 2013. For the year ended December 31, 2014, cash cost of coal sales increased by 4.4 percent to $45.92 per ton from $43.99 per ton for the year ended December 31, 2013, primarily due to lower volume and higher costs of transportation and employee compensation. Cash margins decreased 5.1 percent to $6.58 per ton for the year ended December 31, 2014 from $6.93 per ton for the year ended December 31, 2013. Adjusted Net Loss2 for the year ended December 31, 2014 was $39.7 million, compared to $32.3 million for the year ended December 31, 2013. The following table reconciles Net Loss to Adjusted Net Loss for the year ended December 31, 2014 and 2013. 1 The definition of Adjusted EBITDA, which is a non-GAAP financial measure, and a reconciliation thereof to Net Loss, a comparable GAAP financial measure, are included in a table presented near the end of this press release. 2 The definition of Adjusted Net Loss, which is a non-GAAP financial measure, and a reconciliation thereof to Net Loss, the most comparable GAAP financial measure, are included in a table presented near the end of this press release. Business Update As a leading low-cost producer of thermal coal and the largest producer of surface mined coal in Ohio, WMLP continues to focus on its core Northern Appalachian operations. In December 2014, Westmoreland Coal Company ("WCC") contributed to WMLP 30.4 million tons of proven and probable coal reserves in Lincoln County, Wyoming, in exchange for 4,512,500 post-reverse split common units. In connection with this contribution, WMLP entered into a coal mining lease with respect to these coal reserves with a subsidiary of WCC pursuant to which WMLP will earn a per ton royalty as these coal reserves are mined. Through the coal leasing arrangement, the mining of the reserves are expected to generate $5.8 million in average annual royalties over the next three years, with a minimum royalty payment of $1 million per quarter from the start of 2015 through December 31, 2020 and $0.5 million per quarter thereafter through December of 2025. Management intends to recommend to the Board of Directors a return of the proceeds from the coal royalty revenue stream back to unitholders beginning with a $0.20 per unit quarterly distribution for the first quarter payable in May 2015. Conference Call A conference call regarding Westmoreland Resource Partners, LP's 2014 results will be held on February 27, 2015, at 10:00 a.m. Eastern Time. Call-in numbers are: Live Participant Dial In (Toll Free): 844-WCC-COAL (844-922-2625)Participant Dial In (International): 201-689-8584 About Westmoreland Resource Partners, LP Westmoreland Resource Partners, LP is a low-cost producer of high-value thermal coal in Northern Appalachia. It markets its coal primarily to large electric utilities with coal-fired, base-load scrubbed power plants under long-term coal sales contracts. For more information about Westmoreland Resource Partners, LP (NYSE: WMLP), please visit www.OxfordResources.com. Financial and other information about the Partnership is routinely posted on and accessible at www.OxfordResources.com. Cautionary Note Regarding Forward-Looking Statements Forward-looking statements are based on WMLP's current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements, including WMLP's projections for 2015 performance. WMLP cautions you against relying on any of these forward-looking statements. They are statements neither of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include political, economic, business, competitive, market, weather and regulatory conditions. Any forward-looking statements made by WMLP in this news release speak only as of the date on which they were made. WMLP undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law. $ 336,201 $ (24,428 2 Reconciliation of Adjusted EBITDA to Net Loss EBITDA and Adjusted EBITDA are supplemental measures of financial performance that are not required by, or presented in accordance with, GAAP. EBITDA and Adjusted EBITDA are key metrics used by us to assess our operating performance and we believe that EBITDA and Adjusted EBITDA are useful to an investor in evaluating our operating performance because these measures: are used widely by investors to measure a company’s operating performance without regard to items excluded from the calculation of such terms, which can vary substantially from company to company depending upon accounting methods and book value of assets, capital structure and the method by which assets were acquired, among other factors; and help investors to more meaningfully evaluate and compare the results of our operations from period to period by removing the effect of our capital structure and asset base from our operating results. Neither EBITDA nor Adjusted EBITDA is a measure calculated in accordance with GAAP. The items excluded from EBITDA and Adjusted EBITDA are significant in assessing our operating results. EBITDA and Adjusted EBITDA have limitations as analytical tools, and should not be considered in isolation from, or as a substitute for, analysis of our results as reported under GAAP. For example, EBITDA and Adjusted EBITDA: do not reflect our cash expenditures, or future requirements for capital and major maintenance expenditures or contractual commitments; do not reflect changes in, or cash requirements for, our working capital needs; and do not reflect the significant interest expense, or the cash requirements necessary to service interest or principal payments, on certain of our debt obligations. In addition, although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and EBITDA and Adjusted EBITDA do not reflect any cash requirements for such replacements. Other companies in our industry and in other industries may calculate EBITDA and Adjusted EBITDA differently from the way that we do, limiting their usefulness as comparative measures. Because of these limitations, EBITDA and Adjusted EBITDA should not be considered as measures of discretionary cash available to us to invest in the growth of our business. We compensate for these limitations by relying primarily on our GAAP results and using EBITDA and Adjusted EBITDA only as supplemental data.