The End Is Near for Riviera Resources

Journal of Petroleum Technology 

The board of directors of Riviera Resources has approved the dissolution, winding up, and liquidation of the company and adopted a plan of liquidation and dissolution, under which the Houston-based independent will cease to exist by the end of this year. The dissolution will mark the end of a 2-year existence for Riviera, which was formed in April 2018 by LINN Energy, then spun off in August of the same year. The company stated that its strategic focus was on efficiently operating what it referred to as its mature, low-decline assets. On 13 October, Riviera announced the following. The distribution to shareholders will be paid with the company's cash on hand and will be payable on or around 27 October to all shareholders as of the close of business on 23 October. As of 12 October, there were 58,170,727 shares outstanding of common stock eligible to receive distributions.

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