EARNINGS HIGHLIGHTS
RVRA Increased previously announced $100 million share repurchase authorization to a total of $150 million
Returned over $140 million of capital to shareholders through share repurchases and tender offer since the beginning of the year, and over $290 million in the last twelve months
Closed the sale of certain non-operated properties located in the Hugoton Basin for proceeds of approximately $31 million, and Michigan assets for proceeds of approximately $39 million, both at a premium to PDP PV-10 value
Ended the second quarter with a consolidated cash balance of ~$80 million and $33.5 million drawn on the Blue Mountain Credit Facility
COMPANY PROFILE
Riviera Resources, Inc. is an independent oil and gas company, which engages in owning and operating oil and gas assets in several onshore basins. It operates through the Upstream and Blue Mountain segments. The Upstream segment engages in the exploration, development, production, and sale of oil, natural gas, and NGLs. The Blue Mountain segment consists of a cryogenic natural gas processing facility and a network of gathering pipelines and compressors located in the Merge/SCOP/STACK play. The company was founded in April 2018 and is headquartered in Houston, TX.
RVRA Increased previously announced $100 million share repurchase authorization to a total of $150 million
Returned over $140 million of capital to shareholders through share repurchases and tender offer since the beginning of the year, and over $290 million in the last twelve months
Closed the sale of certain non-operated properties located in the Hugoton Basin for proceeds of approximately $31 million, and Michigan assets for proceeds of approximately $39 million, both at a premium to PDP PV-10 value
Ended the second quarter with a consolidated cash balance of ~$80 million and $33.5 million drawn on the Blue Mountain Credit Facility
COMPANY PROFILE
Riviera Resources, Inc. is an independent oil and gas company, which engages in owning and operating oil and gas assets in several onshore basins. It operates through the Upstream and Blue Mountain segments. The Upstream segment engages in the exploration, development, production, and sale of oil, natural gas, and NGLs. The Blue Mountain segment consists of a cryogenic natural gas processing facility and a network of gathering pipelines and compressors located in the Merge/SCOP/STACK play. The company was founded in April 2018 and is headquartered in Houston, TX.