Riviera Resources Inc. in January completed two previously announced divestments of its interests in properties in the Uinta Basin and east Texas to undisclosed buyers for a combined contract price of $23 million.

Riviera closed the previously announced sale of its interest in properties in the Overton field of east Texas for a price of $18.5 million and interests in properties in the Drunkards Wash field in the Uinta Basin for a price of $4.5 million, according to a Feb. 14 news release. The company received total proceeds from the sales of about $20 million, after transaction closing adjustments and related costs.

Riviera also expects to close in the first quarter of the year its previously announced sale of interests in properties in the Personville field in east Texas to an unnamed buyer for $34 million and its Oklahoma City office building for $21.4 million.

The company expects total proceeds of $68 million from all of its asset sales, including the ones that are yet to close. Riviera said it plans to use the proceeds from its assets sales, along with existing cash, to return capital to shareholders.

As of Dec. 31, 2019, Riviera said it had no outstanding borrowings under its revolving credit facility, while the company's upstream business segment has roughly $101 million ending cash balance, according to the release. Riviera subsidiary Blue Mountain Midstream LLC had about $70 million borrowings under its revolving credit facility, and $15 million ending cash balance.