RVRA CUSIP suspended. FINRA deleted symbol at 8:41 A.M.:

https://otce.finra.org/otce/dailyList?viewType=Deletions

RVRA now pink current
https://www.otcmarkets.com/stock/RVRA

RVRA has ~53-58 cents/share in net cash (cash less total liabilities). Looks unlikely the company burns ~$17mm+ from here that would be required for shareholders to lose money from current price levels. Check out my blog post on Seeking Alpha for more info: https://seekingalpha.com/instablog/9789391-obscurevalue/5533192-rvra-special-situation-trading-47-of-net-cash

found it myself lol

The company is liquidating but I do expect at least 1 more divi to come.

Not a bad buy just don't get over greedy when it does rebound to .50 -.70

Any hope for a bounce here? Haven't followed the plot on this stock but bought some here in hopes for some rebound. 82% drop seems a bit crazy.

DIVI JUST POSTED TO MY ACCOUNTS

Destroyed in the pre-market .28 which is close to my target of .26 but let's see what happens after the open.

STILL NO DIVI SHOWING IN MY ACCOUNTS.

It is going to be interesting for sure. I expect a bloodbath and trying to decide where I would be willing to add. If it stays around current pricing I will have to sell (I don't expect it to).

It's just a trade for me and never heard of RVRA prior to seeing it on the divi list last week.

I'm thinking after the div this falls but how far?

I plan on holding because after the divi I only have .26 a share in it and I believe there is at least another $1 divi down the road

so what do you think? Do you hold or plan to buy?

Here is what I was missing.

https://www.marketscreener.com/quote/stock/RIVIERA-RESOURCES-INC-46353288/news/RIVIERA-RESOURCES-INC-Change-in-Directors-or-Principal-Officers-Regulation-FD-Disclosure-Other-31532987/

Stock trading at $1.61 with a $1.35 divi coming next week.

WHAT AM I MISSING?

On October 21, 2020, the Company announced that the payment date for its recently announced cash distribution has changed. The new payment date will be October 28, 2020. Accordingly, the Company now expects the ex-dividend date for the cash distribution to be October 29, 2020, the first trading date following the payment date. The previously announced record date of October 23, 2020 and the cash distribution amount of $1.35 per share remains unchanged.

1.83 back at high of day. think it's got a lot more room to go on that news

Riviera Resources Enters Into Definitive Agreement to Sell Blue Mountain Midstream LLC to Citizen Energy for $111 Million
HOUSTON, Aug. 24, 2020 (GLOBE NEWSWIRE) -- Riviera Resources, Inc. (OTCQX: RVRA) (“Riviera” or the “Company”) announces it has signed a definitive agreement to sell its wholly owned subsidiary, Blue Mountain Midstream LLC (“Blue Mountain”) to Citizen Energy in an all cash transaction valued at approximately $111 million. The Company expects the transaction will close early in the fourth quarter of 2020 and is subject to the satisfaction of certain generally customary closing conditions. When the transaction closes, it will represent a complete exit of the midstream business by the Company.

Proceeds from the sale will be used to repay total outstanding borrowings under Blue Mountain’s credit facility, which were approximately $76 million as of July 31, 2020. Following repayment in full of the credit facility and, subject to certain closing adjustments and fees as set forth in the definitive agreement, the remainder of the sale proceeds are expected to be added to cash on Riviera’s balance sheet.

David Rottino, President and Chief Executive Officer of Riviera commented, “This transaction is the culmination of our extensive review of strategic alternatives for Blue Mountain. Over the past twelve months, the Company has spent extraordinary time and effort engaging with several counterparties in an effort to maximize the sale value of Blue Mountain. Given the challenging macro-environment, we are pleased with this result. Consistent with past decisions, we expect to find ways to use the proceeds to return capital to shareholders.”

As previously announced, the Company has signed definitive agreements to sell its interest in properties located in North Louisiana, expected to close in the third quarter of 2020, and interests in certain properties located in the Anadarko Basin, expected to close in the fourth quarter of 2020. The Company has also previously announced plans to sell its remaining upstream assets, primarily located in the Mid-Continent region, with plans to close in the fourth quarter of 2020. The Company intends to evaluate the process of winding-up and of returning the majority of its remaining capital to its shareholders as efficiently as reasonably possible, at which point the Company would completely exit the upstream and midstream business, in the event this sale and other contemplated asset divestitures are completed. This evaluation will be dependent upon an analysis of the net cash available for distribution to its stockholders and the amount of net cash that must be retained to satisfy the Company’s obligations under the dissolution procedures pursuant to Section 275 of the Delaware General Corporate Law (the “DGLC”).

Tudor, Pickering, Holt & Co. acted as the Company’s financial advisor and Kirkland & Ellis LLP as the Company’s legal counsel during the transaction. Fully committed debt financing for the transaction will be provided by JPMorgan Chase Bank, N.A. and BMO Capital Markets. Equity financing will be provided by investment funds affiliated with Citizen Energy and Warburg Pincus. Shearman & Sterling LLP acted as Citizen Energy’s legal counsel with respect to the acquisition and Sidley Austin LLP acted as Citizen Energy’s legal counsel with respect to the committed debt financing.

Forward-Looking Statements
Statements made in this press release that are not historical facts are “forward-looking statements.” These statements are based on certain assumptions and expectations made by the Company which reflect management’s experience, estimates and perception of historical trends, current conditions, and anticipated future developments. These statements include, among others, statements regarding the process of winding up, the satisfaction of obligations under the DLGC and the timing and amount of any return of capital to shareholders, our financial position, business strategy and other plans and objectives for future operations, including but not limited to the exit from the upstream and midstream business. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or anticipated in the forward-looking statements. These include risks relating to the Company’s financial and operational performance and results, low or declining commodity prices and demand for oil, natural gas and natural gas liquids, ability to hedge future production, ability to replace reserves and efficiently develop current reserves, the capacity and utilization of midstream facilities and the regulatory environment. These and other important factors could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Please read “Risk Factors” in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other public filings. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information or future events.

CONTACT:Investor Relations
(281) 840-4168
IR@RVRAresources.com


https://www.otcmarkets.com/stock/rvra/news/story?e&id=1676851

live earnings report on the 7th 11am est
http://ir.rivieraresourcesinc.com/events/event-details/riviera-resources-inc-q1-2020-earnings-call

I think there is going to be real good news on the 7th around 11est
http://ir.rivieraresourcesinc.com/events/event-details/riviera-resources-inc-q1-2020-earnings-call
live broadcast earnings call

Not really...Some newer stuff here..

http://ir.rivieraresourcesinc.com/

Any new news on Riviera?

Nice news today

RVRA turning focus to midstream operations in 2020?

With the 12/20 announcement of selling the Personville, East Texas upstream asset, Riviera's disposition of non-core assets is nearly complete.

They have now sold off all upstream properties except for the Anadarko Basin / NW Stack play in Oklahoma and the Ruston Field leasehold in northern Louisiana. The Anadarko play is situated in the same geographic location as Blue Mountain Midstream's operations, just a few miles northwest of their natural gas system in Canadian and Grady counties.

Riviera is in the process of completing an expansion of their crude oil gathering pipeline (the North/South Mainline) expected to be finished in H1 2020. They recently acquired Lumen Midstream, adding 50 miles of LNG pipeline and also started offering water gathering, transport and disposal services, further extending the reach of their midstream operations.

While Riviera appears to be turning much of its focus toward midstream operations, they have also continued to develop their core upstream assets, having drilled two new wells at Ruston Field and six new wells at Anadarko as of Nov. 2019. Given the push toward consolidating their operations in the Merge/Stack area of Oklahoma, don't be the least surprised if Riviera announces the sale of the N. Louisiana properties soon.

A bullet point on p.8 of the Q3 presentation about "misunderstood acreage" also hints at the possibility in 2020 of additional upstream M&A activity in the Anadarko Basin. The Merge/Stack play has disappointed lofty expectations that it would become another Permian Basin. With its inconsistent geology and multiple rock types muddling the hydrocarbons mix, many producers in the region are merging or selling their operations outright. Riviera seems to be making a stand in the area with its Anadarko basin upstream properties and given the company's strong cash position, will no doubt be looking to snap up struggling producers if the price is right.

Ex-Div tomorrow 12/13. Should open at ~$7.50...

and start trending back up from there.

Special Dividend Rules in Effect for This Distribution!

Don't sell your shares before the Ex-Div date or you also sell your right to receive the $4.25/share distribution.

Riviera Paying Special Dividend: $4.25 in December 2019