23rd May 2018 11:23
LONDON (Alliance News) - FTSE 250-listed Riverstone Energy Ltd on Wednesday reported a decline in net asset value in the first quarter of 2018.
The energy investment company said its net asset value at March 31 was USD1.70 billion, down from USD1.74 billion at the end of 2017, as NAV per share decreased to USD20.21 from USD20.63.
Riverstone said it made a loss of USD35.9 million in the quarter, with total invested capital of USD9 million.
"REL had a strong start to the year, achieving over USD275 million of realisations to date. This has strengthened REL's capital position, resulting in a cash balance in excess of USD265 million following repayment of the Centennial margin loan, and the board is now considering a variety of options for deploying this capital," said Chairman Richard Hayden.
Shares in Riverstone were down 0.3% at 1,290.00 pence on Wednesday.
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