Market News

Riverstone Energy reports $33m Q3 profit

31/10/2018 08:40

(Sharecast News) - Investment firm Riverstone Energy reported a third quarter profit of $33.3m (£26m) after $12m in realisations. The company said it realised investments in Carrier Energy Partners, Three Rivers Natural Resources and Rock Oil. Net asset value for the quarter was $21.03 (£16.14) a share. Riverstone announced a £55m tender offer for £55m at between £12.00 and £13.75 a share. Chairman Richard Hayden said the company had performed well in the five years since listing against a 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," he added.

Investors should be aware that past performance is not a reliable indicator of future results and that the price of shares and other investments, may fall as well as rise and the amount realised may be less than the original sum invested.

Walker Crips Group plc (Old Change House, 128 Queen Victoria Street, London EC4V 4BJ), registered in England, registered number 1432059, incorporates the following companies which are authorised and regulated by the Financial Conduct Authority: Walker Crips Investment Management Limited registered in England number 4774117 member of the London Stock Exchange, Walker Crips Wealth Management Limited registered in England number 3790291, Ebor Trustees Limited registered in England number 3514268, Barker Poland Asset Management LLP registered in England and Wales number OC341149.