HOUSTON, Jan. 13, 2020 (GLOBE NEWSWIRE) -- Riviera Resources, Inc. (OTCQX: RVRA) announces it has entered into an agreement to sell its Oklahoma City Office building to an undisclosed buyer for a contract price of $21.4 million, subject to closing adjustments. The Company expects the transaction will close in the first quarter of 2020.

The property to be sold is a four-story, 105,000 plus square foot office building located at 14701 Quail Springs Plaza Parkway, Oklahoma City, OK 73134. This transaction is subject to buyer’s termination rights, as well as the satisfaction of closing terms and conditions.

The estimated net proceeds from the sale are expected to be added to cash on the Company’s balance sheet. As previously announced, the Company has also signed definitive agreements to sell its interests in properties located in the Overton field in East Texas, interests in properties located in the Personville field in East Texas, and its interest in properties located in the Drunkards Wash field in the Uinta Basin that are all expected to close in the first quarter of 2020.

After closing the transaction, the Company will continue to own upstream assets primarily located in North Louisiana and Mid-Continent regions. Additionally, the Company owns Blue Mountain Midstream LLC, a midstream company centered in the core of the Merge play in the Anadarko Basin.