31st Oct 2018 09:00
LONDON (Alliance News) - FTSE 250 resources investor Riverstone Energy Ltd on Wednesday reported a rise in net asset value over the third quarter of 2018.
As of September 30, Riverstone's net asset value per share was GBP16.14, from GBP15.72 at the end of June.
Profit over the three-month period was USD33.3 million, with the company having made just USD10.7 million profit over the six months to June.
Riverstone invested USD18 million in the third quarter, and realised USD12 million worth of investments.
Chairman Richard Hayden said: "Riverstone has just celebrated its fifth anniversary of listing, and since that time, it has performed well in the background of oil price volatility and a prolonged downturn of natural gas prices.
"The tender offer gives all eligible shareholders an opportunity to exit part of their shareholding in the company. The board remains positive about the value in the current portfolio, which continues to benefit from positive market conditions."
Earlier in October, Riverstone started a tender offer worth up to GBP55 million.
Shares were 1.0% higher on Wednesday at a price of 1,242.00 pence each.
Related Shares:
Riverstone Energy