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Rockhampton Energy files for bankruptcy protection following other coal filings

Kentucky coal producer Rockhampton Energy LLC filed for Chapter 7 bankruptcy, marking at least the eighth coal miner to do so since President Donald Trump took office.

The Pineville, Ky.-based Central Appalachian producer estimated that the value of its assets did not exceed $50,000 as of its petition, according to documents filed Oct. 1 with the U.S. Bankruptcy Court for the Eastern District of Kentucky. The miner estimated that it has between 50 and 99 creditors, and its liabilities fall somewhere between $1 million and $10 million.

Rockhampton does not expect funds to be available to unsecured creditors after it pays its administrative expenses, according to the filing.

Kentucky-based news station WYMT reported that the company's employees have not worked for weeks.

Rockhampton's filing follows a string of other bankruptcy proceedings this year, including Cloud Peak Energy Inc., Blackjewel LLC, Cambrian Coal Corp. and Blackhawk Mining LLC. Those companies filed for Chapter 11 bankruptcy protection, suggesting an intent to restructure their debt, while Rockhampton's Chapter 7 filing suggests liquidation.

The producer owns three coal mines in Kentucky, only one of which produced any coal in 2018, with output totaling slightly more than 334,000 tons for the year, according to S&P Global Market Intelligence data. The U.S. Mine Safety and Health Administration classified that single active mine as nonproducing.