26th Feb 2016 08:00
LONDON (Alliance News) - Riverstone Energy Ltd on Friday said its chairman will step down after its annual general meeting in May, as the natural resources investor said its net asset value per share pushed higher in 2015.
The FTSE 250-listed investment vehicle said Robert Wilson will step down as chairman after the company's annual general meeting in May and will be replaced by Richard Hayden, currently a senior independent director who has been on the board since Riverstone floated in 2013.
The move came as the company said its net asset value in sterling rose to 1,083 pence per share on December 31 from 1,047p a year earlier, though it fell in dollar terms to USD15.95 from USD16.31 due to the strengthening of the dollar against the pound.
Riverstone said it invested a total of USD469.0 million over the course of the year, including in Canadian oil and gas explorer CIOC and in buying acreage in the Permian Basin in Texas.
It said it has continued to execute on its investment strategy and now a total of sixteen energy industry investments.
By Sam Unsted; [email protected]; @SamUAtAlliance
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