One-Page Deal Sheet
Riviera Resources Offloads Michigan Property for $44.5 Million
Not Disclosed Riviera Resources
Announced Date
May 23,2019
Close Date
July 03,2019
Transaction Type
Property
Enterprise Value (EV)($MM)
45
Location
Region
Northeast
Country
United States
State
Michigan
Production & Reserves Reserves
Transaction Details: Subscribe to see
Riviera Resources, Inc. has agreed to sell its interest in properties located in Michigan to an undisclosed buyer for a contract price of $44.5 million.
The Company will retain all of its properties located in Illinois.
Asset Details The properties to be sold consist of approximately 1,400 net wells located in Michigan. The assets include proved developed reserves of approximately 193 BCFE and proved developed PV-10 of approximately $38 million. Proceeds to Fund Share BuybacksThe estimated net proceeds from the sale are expected to be added to cash on the Company's balance sheet. The…
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