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Riviera Resources to sell Oklahoma City building for $21.4M

Independent oil and gas producer Riviera Resources Inc. entered into an agreement to sell its Oklahoma City office building to an undisclosed buyer for $21.4 million.

The transaction includes the company's four-story, 105,000-plus square foot office at 14701 Quail Springs Plaza Parkway, according to a Jan. 13 release.

The proceeds will be added to cash on Riviera's balance sheet. The transaction is expected to close in the first quarter and will be subject to buyer's termination rights as well as the satisfaction of closing terms and conditions.

After closing, Riviera will continue to own upstream oil and gas assets primarily in the North Louisiana and Mid-Continent regions.

The Texas-based producer previously announced deals to sell its interest in properties in the Personville field in East Texas, its interest in properties in the Overton field of East Texas and interests in properties in the Drunkards Wash field in the Uinta Basin, which are all expected to close in the first quarter.