Blue Mountain to repay $76 million of borrowings under facility

By Taylor Fox

New York, Aug. 24 – Blue Mountain Midstream LLC plans to repay the roughly $76 million of outstanding borrowings under its credit facility, according to a press release.

Proceeds from parent Riviera Resources, Inc.’s sale of Blue Mountain Midstream to Citizen Energy for about $111 million will be used for the repayment.

The remainder of the sale proceeds will be added to cash on Riviera’s balance sheet.

The transaction is subject to some conditions and is expected to close early in the fourth quarter.

Blue Mountain is a natural gas, crude oil and natural gas liquids service provider based in Houston.

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