Riviera Resources Inc. signed an agreement to sell its interest in East Texas properties to an undisclosed buyer for a contract price of $34 million, subject to closing adjustments.

The properties to be sold consist of about 750 wells located in the Personville Field in East Texas with average third-quarter net production of roughly 28 million cubic feet equivalent per day. Proceeds from the sale are expected to be added to cash on the company’s balance sheet.

So far this year, Riviera has gradually been monetizing assets from the multibasin portfolio it inherited through its spinoff from Linn Energy in 2018.

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