RVRA - Riviera Resources closes royalty property sale

Riviera Resources ([[RVRA]] -1.2%) signed and closed on a definitive agreement to sell its remaining royalty properties for net proceeds of ~$7.5M.Post the sale, the company divested substantially all of its upstream assets; only remaining upstream oil and gas assets are ~20 wells in Louisiana and Oklahoma, which the company expects to sell or plug and abandon after resolving certain legal matters.Post the royalty property sale, the company will distribute any remaining assets, which it now expects to be between $0 and $30M to the shareholders.Post the plan of liquidation and dissolution, the company may utilize a statutory notice of claims procedure.

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Riviera Resources closes royalty property sale