Company History
December 2011 - Xinergy expands thermal reserves at Straight Creek mining complex through acquisition of coal assets including leases, permits and equipment in Bell, Clay and Leslie counties, Kentucky.
December 2011 - South Fork Coal Co. LLC commences mining operations at Greenbrier Mid-Vol Metallurgical reserves.
November 2011 - Xinergy initiates first cut into No.2 Gas deep mine in fully permitted Brier Creek thermal reserves.
July 2011 - Xinergy enters into long term thermal coal supply agreement with J.P. Morgan Ventures Energy Corporation for the delivery period January 1, 2012 through December 31 ,2014.
July 2011 - Xinergy aquired 100% of the membership interests of True Energy, LLC, an active high-volatility metallurgical surface mining operation in southwestern Virginia.
June 2011 - Xinergy's Board of Directors authorized the repurchase of up to $17.6 million of the Company's common stock in the open market (funded by cash from the Elk Horn divestiture) pursuant to a normal course issuer bid.
June 2011 - Xinergy sold it's 1,852,367 membership units of Elk Horn Coal Company, LLC ("Elk Horn") and received $17.9 million in proceeds, resulting in a gain of $11.0 million on the investment.
May 2011 - Xinergy issued at par $200.0 million of senior secured notes due May 15, 2019. The funds were used to repay in full the Company's already existing senior secured notes and for the development of both the Greenbrier and Brier Creek properties.
April 2011 - Xinergy entered into a coal reserve lease with Michael Dean for 7,000 acres of a tract of land (the "Dean Tract") adjacent to and west of our Straight Creek properties.
March 2011 - Xinergy increases coal reserves by the completion of a definitive lease agreement with Penn Virginia Operating Co., LLC. for the tract of land known as Brier Creek, which lies adjacent to the north of Xinergy's Raven Crest property in Boone County, West Virginia.
January 2011 - Xinergy announced the closing of the purchase of a metallurgical coal reserve known as Greenbrier, located in southern West Virginia, approximately 120 miles southeast of the Company's Raven Crest operation.
November 2010 - Xinergy signed a purchase agreement to acquire 1,852,367 membership units (common equity) of Elk Horn Coal Company, LLC, located in eastern Kentucky. Its properties consist of mineral rights to 153,600 acres of coal bearing land.
September 2010 - Xinergy announced the divestiture of its Alabama assets and wholly owned subsidiary, Xinergy of Alabama, Inc. ("Coal Valley") for $3.1 million in cash, representing a gain of approximately $1.8 million.
April 2010 - Xinergy announced the acquisition of the remaining 95% of Raven Crest, a 12,262-acre coal mine located in Boone County, West Virginia.
March 2010 - Xinergy exercised its right to terminate the lease for the 29,000-acre Blue Diamond tract in Tennessee.
December 21, 2009 - Xinergy Corp. completed a reverse takeover (“RTO”) of Greenwich Global Capital ("GGC"), a company listed on the TSX-V. GGC changed its name to Xinergy Ltd. ("Xinergy") on December 21, 2009. Xinergy’s shares began trading on the TSX on December 24, 2009 under the symbol XRG.
December 2009 - Xinergy purchased 100% of the membership interests in Shenendoah Energy, LLC (“Shenendoah”). Shenendoah’s assets consisted of a 5% ownership interest in Raven Crest Mining, LLC ("Raven Crest") and $160,000 in accounts receivable from Raven Crest.
March 2009 – Xinergy Corp. reached a coal mining lease agreement for 22,743 acres located in Scott and Campbell Counties in Tennessee (formerly known as the Blue Diamond Coal property). In addition to the Tennessee property, Xinergy also acquired coal leases for 3,800 acres in Kentucky. The Kentucky property is located just north of Stoney Fork and is referred to as the “Asher” tract.
November 2008 - Xinergy of Alabama, Inc. acquired coal leases of more than 600 acres of mineral reserves in Walker County, Alabama known as Coal Valley
June 2008 - Xinergy Corp. expanded its operations to include the state of Alabama by establishing Xinergy of Alabama, Inc.
April 2008 - Xinergy Corp. began mining at Straight Creek.
March 2008 - Xinergy Corp. was founded by Jon Nix, Chairman & Chief Executive Officer, with the acquisition of coal mineral rights in southeastern Kentucky, from National Coal Corp., known as Straight Creek.