Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
FIRST RESERVE GP IX INC
   2. Issuer Name and Ticker or Trading Symbol
NATURAL RESOURCE PARTNERS LP [NRP] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
ONE LAFAYETTE PLACE		 3. Date of Earliest Transaction (Month/Day/Year)
02/14/2005
(Street)

GREENWICH, CT 06830		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Phantom Units (1) (2) 02/14/2005   A   1,350   02/14/2009 02/14/2009 Common Units 1,350 (2) 1,350 I (3) See Remarks and FN (4)
Phantom Units (1) (2) 02/14/2005   A   1,350   02/11/2008 02/11/2008 Common Units 1,350 (2) 1,350 I (3) SeeRemarks and FN (4)
Phantom Units (1) (2) 02/14/2005   A   1,350   02/11/2007 02/11/2007 Common Units 1,350 (2) 1,350 I (3) See Remarks and FN (4)
Phantom Units (1) (2) 02/14/2005   A   1,358   10/18/2005 10/18/2005 Common Units 1,358 (2) 1,358 I (3) See Remarks and FN

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
FIRST RESERVE GP IX INC
ONE LAFAYETTE PLACE
GREENWICH, CT 06830		   X   X    
FRC WPP NRP INVESTMENT L P
ONE LAFAYETTE PLACE
GREENWICH, CT 06830		     X    
FRC NRP INC
ONE LAFAYETTE PLACE
GREENWICH, CT 06830		     X    
FRC NRP A V HOLDINGS L P
ONE LAFAYETTE PLACE
GREENWICH, CT 06830		     X    
FRC WPP GP LLC
ONE LAFAYETTE PLACE
GREENWICH, CT 06830		     X    
KRUEGER ALEX T
ONE LAFAYETTE PLACE
GREENWICH, CT 06830		   X      
FIRST RESERVE GP IX L P
ONE LAFAYETTE PLACE
GREENWICH, CT 06830		     X    
FIRST RESERVE FUND IX L P
ONE LAFAYETTE PLACE
GREENWICH, CT 06830		     X    

Signatures

 /s/ Thomas R. Denison, Managing Director-First Reserve; Manager-Investment GP; Attorney-in-Fact for Alex Krueger. First Reserve is signing on behalf of the FRC Entities (see "Remarks"). Investment GP signing on behalf of the NRP Entities (see "Remarks"   02/16/2005
**Signature of Reporting Person Date
 Thomas R. Denison   02/16/2005
**Signature of Reporting Person Date
 Thomas R. Denison   02/16/2005
**Signature of Reporting Person Date
 Thomas R. Denison   02/16/2005
**Signature of Reporting Person Date
 Thomas R. Denison   02/16/2005
**Signature of Reporting Person Date
 Thomas R. Denison   02/16/2005
**Signature of Reporting Person Date
 Thomas R. Denison   02/16/2005
**Signature of Reporting Person Date
 Thomas R. Denison   02/16/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The phantom units were granted to Alex T. Krueger under the Issuer's long term incentive plan.
(2) The phantom units will be paid in cash based on the average closing price of the common units for the 20 trading days immediately preceding the date of vesting.
(3) The phantom units reported on this Form 4 were granted to Alex T. Krueger in his capacity as a director of GP Natural Resource Partners LLC, which is the general partner of NRP (GP) LP, which is the general partner of the Issuer. Mr. Krueger was appointed as a director of GP Natural Resource Partners LLC by FRC-WPP NRP Investment L.P. (the "Appointer"), pursuant to an Investor Rights Agreement dated December 22, 2003.
(4) The FRC Entities are entitled to a portion of the profits from any sale of stock held by Mr. Krueger, and therefore share beneficial ownership of such phantom units. Mr. Krueger disclaims any beneficial ownership of any securities of the Issuer held by the FRC Entities.
 
Remarks:
FRC-WPP GP LLC (the "Investment GP") is the general partner of the Appointer.  FRC-NRP A.V. Holdings, L.P. ("AV") holds a majority of the limited partnership interests and member interests of the Appointer and the Investment GP, respectively.  FRC-NRP, Inc. ("Blocker") and First Reserve GP IX, L.P. ("GP IX") are the general partners of AV, and First Reserve Fund IX, L.P. ("Fund IX") is the sole stockholder of Blocker.  GP IX is the general partner of Fund IX, and First Reserve GP IX, Inc. ("First Reserve") is the general partner of GP IX.  Each of the Appointer, the Investment GP, AV, Blocker, Fund IX and GP IX are controlled by First Reserve.  First Reserve, GP IX, Fund IX, AV and Blocker are collectively referred to as the "FRC Entities."  The Appointer and the Investment GP are collectively referred to as the "NRP Entities."

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.