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LINN Energy announced today that it has completed the previously announced spin-off of Riviera Resources, Inc. from LINN. Riviera is now an independent reporting company and is expected to begin trading on the OTC Market under the ticker symbol "RVRA" on August 8, 2018.
Riviera, an independent oil and gas company with a strategic focus on efficiently operating its mature low-decline assets, developing its growth-oriented assets, and returning capital to shareholders. Riviera's assets consist of:
- LINN's legacy properties located in the Hugoton Basin, East Texas, North Louisiana, Michigan/Illinois, the Uinta Basin and Mid-Continent regions; and
- Blue Mountain Midstream LLC, a midstream company centered in the core of the Merge play in the Anadarko Basin.
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