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Trading statements

Riverstone Energy issues interim management statement

26 October 2016 07:42

Riverstone Energy said its net-asset value (NAV) at Sept. 30 was $1.56bn, while its NAV per share was $18.41.

Total net commitments during the three months to Sept. 30 totalled $119m, while total invested capital was $54m.

"Today's results highlight REL's ability to navigate challenging commodity price environments and deliver value to shareholders," said chair Richard Hayden in a statement.

"The Company's NAV per share stands at $18.41, an increase of 13% since June's results and 16% since December 2015.

"Furthermore, this does not reflect the uplift of REL's recent $175 million investment in Centennial, which closed after the end of the quarter and is currently trading at a 45% premium to REL's cost base.

"The Board remains sensitive to the discount to NAV at which the REL shares currently trade and will continue to evaluate open market purchases as authorised by the Shareholders at the AGM."

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