Riviera Resources Sells Blue Mountain Midstream, Remaining Assets

Updated 11 months 1 week ago

Riviera Resources has sold subsidiary Blue Mountain Midstream for $111 million, remaining interests in North Louisiana for $22 million, and certain Anadarko Basin properties for $13 million. The board has approved a cash distribution of $1.35 per share and the dissolution of the company. The total cash distribution will be a total of $79 million. After paying additional claims and obligations, the company will distribute remaining cash estimated to be up to $40 million. Darren Schluter is replacing James G. Frew as CFO.