Riviera Resources Tacks On Another Asset Sale In East Texas

The divestiture is a part of a series of asset sales Riviera Resources has made this year as it gradually works through the multibasin portfolio it inherited from its spinoff from Linn Energy in 2018.

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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Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.