15th Aug 2018 09:22
LONDON (Alliance News) - Investment firm Riverstone Energy Ltd reported a rise in interim net asset value per share on Wednesday, with the company "well positioned" to make new energy investments.
As at June 30, the end of Riverstone's first half, net asset value per share in sterling was GBP15.72, up 2.9% from GBP15.27 at the end of December. In US dollar terms, the figure was USD20.76, 0.6% higher from USD20.63 at December's end.
Riverstone has swung to profit for the period of USD10.7 million, compared to a USD30.6 million loss a year prior, with a positive change in the value of investments of USD12.6 million after a negative USD28.9 million a year prior.
During the period, Riverstone made five investments worth USD50 million, while it sold USD281 million worth of investments.
These sales put the company in a strong position to make further investments as the oil industry continues its upturn, including both within its existing portfolio and outside of it.
Shares in Riverstone were 1.5% higher on Wednesday morning at a price of 1,222.00p.
Related Shares:
Riverstone Energy