18 Dec 2020listing compliance notice▼ BadMajor
Riviera Resources, Inc. suspended its duty to file periodic reports with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
11 Dec 2020securities registration● Neutral
Riviera Resources, Inc. amended an already-effective registration statement.
2 Nov 2020quarterly activities report▼ Bad
Riviera Resources, Inc. reported quarterly revenue of $33.5 million and a net loss of $236.4 million for the period ended 2020-09-30.
26 Oct 2020substantial holder notice● Neutral
Adage Capital Partners, L.P, Adage Capital Partners GP, L.L.C, Adage Capital Advisors, L.L.C, Robert Atchinson, Phillip Gross disclosed a new substantial Riviera Resources, Inc. shareholding (7.78% of votes).
15 Oct 2020asset acquisition disposition● NeutralMajor
Riviera closed the sale of Blue Mountain Midstream LLC on October 8, 2020 to Rheinbund, LLC for about $111 million in cash. After costs and repaying the Blue Mountain credit facility, the 8-K says net cash was about $35 million. It also reports the October 1 sale of Oklahoma Mid-Continent interests to Staghorn Petroleum II for about $13 million net. The press release says North Louisiana assets were sold in September 2020 and Riviera has exited midstream. The board approved a $1.35 per share distribution (about $79 million, record date October 23) and a Plan of Liquidation, also approved by the required shareholder vote on October 12. The company expects $0 to $40 million to remain for shareholders after obligations are met. It plans to file for dissolution and stop trading on OTCQX by December 31, 2020, then deregister. The CFO and two directors are leaving, and the COO plans to leave.
6 Aug 2020quarterly activities report▼ Bad
Riviera Resources, Inc. reported quarterly revenue of $31.4 million and a net loss of $21.2 million for the period ended 2020-06-30.
6 Aug 2020quarterly activities report▼ Bad
Riviera Resources, Inc. reported quarterly revenue of $31.4 million and a net loss of $21.2 million for the period ended 2020-06-30.
29 June 2020agm notice● Neutral
Riviera Resources, Inc. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
10 June 2020agm notice● Neutral
Riviera Resources, Inc. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
8 June 2020auditor change● Neutral
Riviera's audit committee dismissed its auditor KPMG on June 2, 2020 and hired BDO USA, LLP on June 5 to audit fiscal 2020. The filing says there were no disagreements and no adverse opinions from KPMG; the only added paragraphs in its 2019 and 2018 reports were explanatory notes on the revenue accounting change, the Linn Energy spin-off and Linn's bankruptcy exit. The filing gives no reason for the switch.
4 June 2020debt financing▼ BadMajor
On June 1, 2020 Riviera and its lenders signed a Fifth Amendment to its main credit agreement. It raises the interest margin by 0.25% and cuts the borrowing base (the maximum it can borrow) to $30.0 million. That is down from the $90 million set in the September 2019 amendment, as far as these filings show. The rest of the amendment is technical wording on replacing the LIBO rate and extending the bail-in clause to UK institutions.
14 May 2020agm notice● Neutral
Riviera Resources, Inc. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
14 May 2020agm notice● Neutral
Riviera Resources, Inc. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
8 May 2020quarterly activities report▼ Bad
Riviera Resources, Inc. reported quarterly revenue of $56.8 million and a net loss of $101.5 million for the period ended 2020-03-31.
7 May 2020quarterly activities report▼ Bad
Riviera Resources, Inc. reported quarterly revenue of $56.8 million and a net loss of $101.5 million for the period ended 2020-03-31.
30 Apr 2020late filing notice▼ Bad
Riviera Resources, Inc. notified the SEC that its annual report would be filed late.
27 Feb 2020quarterly activities report▼ Bad
Riviera Resources, Inc. reported quarterly revenue of $89.7 million and a net loss of $74.2 million for the period ended 2019-12-31.
21 Feb 2020quarterly activities report▼ Bad
Riviera Resources, Inc. reported quarterly revenue of $89.7 million and a net loss of $74.2 million for the period ended 2019-12-31.
25 Nov 2019asset acquisition disposition▲ GoodMajor
Riviera closed the Hugoton Basin sale on November 22, 2019 to Scout Energy Group V, LP, for about $295 million in cash (about $283 million net after adjustments and costs). The sale included the Mayzure helium royalty entity. This completes the Hugoton Divestiture agreed in August 2019. The board also declared a one-time $4.25 per share cash distribution (about $260 million in total), payable December 12, 2019 to holders of record on December 5. The accompanying press release says Riviera also signed a deal on November 14 to sell its Drunkards Wash (Uinta Basin) interests for $4.5 million, expected to close in Q1 2020.
8 Nov 2019quarterly activities report▼ Bad
Riviera Resources, Inc. reported quarterly revenue of $108.1 million and a net loss of $225.6 million for the period ended 2019-09-30.
7 Nov 2019quarterly activities report▼ Bad
Riviera Resources, Inc. reported quarterly revenue of $108.1 million and a net loss of $225.6 million for the period ended 2019-09-30.
3 Oct 2019debt financing● NeutralMajor
Riviera and its lenders amended its existing credit facility (September 27, 2019): interest cut by 0.5%, maturity extended to August 4, 2021, and the borrowing base reduced to $90 million, with the next review on April 1, 2020. It also permits certain asset sales in Illinois, Kansas, Louisiana and Texas without further effect on the borrowing base, and cuts the cash netting cap in Total Net Debt from $100 million to $25 million.
30 Aug 2019material agreement● NeutralMajor
Riviera's subsidiaries agreed on August 27, 2019 to sell all of the company's remaining Hugoton Basin oil and gas interests and related assets, including its interests in Mayzure and the helium-backed notes, for $295.0 million subject to closing adjustments. Closing is expected in Q4 2019, and either side can decline to close if title and environmental defects and certain adjustments exceed 25% of the price.
8 Aug 2019quarterly activities report▼ Bad
Riviera Resources, Inc. reported quarterly revenue of $145.6 million and a net loss of $6.7 million for the period ended 2019-06-30.
8 Aug 2019quarterly activities report▼ Bad
Riviera Resources, Inc. reported quarterly revenue of $145.6 million and a net loss of $6.7 million for the period ended 2019-06-30.
13 June 2019business combination▲ GoodMajor
Riviera announced it intends to launch another tender offer by the end of June 2019 to buy up to $40 million of its common stock at a premium to the current market price, using part of its cash on hand. No per-share price is given. This follows the $22.00 per share tender offer announced in September 2018.
6 June 2019agm notice● Neutral
Riviera Resources, Inc. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
9 May 2019quarterly activities report● Neutral
Riviera Resources, Inc. reported quarterly revenue of $136.5 million and net income of $12.7 million for the period ended 2019-03-31.
9 May 2019quarterly activities report● Neutral
Riviera Resources, Inc. reported quarterly revenue of $136.5 million and net income of $12.7 million for the period ended 2019-03-31.
22 Apr 2019agm notice● Neutral
Riviera Resources, Inc. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).