Walter also has assets in Canada although Tudor Pickering's Blossman said he didn't believe these assets are the target of recent sale talks.
While there are success stories in coal asset sales, the markets did not respond well to Walter's announcements.
Walter's shares were down about 4% midday Thursday at $10.76 per share. The company has a market cap of about $672 million.
-- Written by Michael D. Brown in New York