Riverstone Energy Limited (RSE)

Sector:

Investment Firms

Index:

FTSE Small Cap

417.75p
   
  • Change Today:
      5.25p
  • 52 Week High: 1,104.00p
  • 52 Week Low: 403.50p
  • Currency: UK Pounds
  • Shares Issued: 79.90m
  • Volume: 8,484
  • Market Cap: £333.77m

Riverstone Energy seeks to diversify amid 'challenging' E&P market

By Josh White

Date: Wednesday 30 Oct 2019

LONDON (ShareCast) - (Sharecast News) - Riverstone Energy updated the market on its performance for the three months ended 30 September on Wednesday, reporting a net asset value of $782m or £636m at period end, making for a net asset value per share of $9.79 or £7.97.
The FTSE 250 company reported a loss of $275.8m for the three months, which meant its basic loss per share for the quarter stood at 345.21 US cents.

Its market capitalisation as at 30 September stood at $582m, or £474m, while the company's share price at period end was $7.29 or £5.93.

Total invested capital during the period was $23m, the board said, in Aleph Midstream, while total realisations of $23m came from Canadian Non-Operated Resources at $16m, Carrier Energy Partners II at $3m, ILX Holdings III at $3m, and Ridgebury H3 at $1m.

Total gross committed capital as at 30 September was $1.498bn, and total net committed capital at period end was $1.158bn, or 97% of net capital available.

Riverstone said its total net capital invested as at 30 September was $979m, or 82% of net capital available.

"During the quarter, REL closed the Aleph Midstream transaction and made its initial investment in the company," said Riverstone Energy chairman Richard Hayden.

"We are actively focussed on further diversifying the portfolio with exposure across the midstream, services, and power sectors, in light of the challenging environment for exploration and production equity investments."

Hayden said capital needs for energy companies continued to grow, while financing sources were limited in the current market.

"The company's management engagement committee continues to hold discussions with the investment manager regarding changes to the terms of the investment management agreement."

David Leuschen and Pierre Lapeyre Jr, co-founders of Riverstone, added that as the company crossed the fifth anniversary of the start of the current commodity price downturn, market conditions for exploration and production investments were continuing to face "severe" headwinds.

"We are actively working to execute both defensive and offensive measures across the portfolio in order to increase cash flows, maintain ample liquidity and position for further realisations," the pair said in their joint statement.

As at 0905 GMT, shares in Riverstone Energy were down 0.63% at 475p.

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RSE Market Data

Currency UK Pounds
Share Price 417.75p
Change Today 5.25p
% Change 1.27 %
52 Week High 1,104.00p
52 Week Low 403.50p
Volume 8,484
Shares Issued 79.90m
Market Cap £333.77m

RSE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
67.50% above the market average67.50% above the market average67.50% above the market average67.50% above the market average67.50% above the market average
81.60% above the sector average81.60% above the sector average81.60% above the sector average81.60% above the sector average81.60% above the sector average
Price Trend
91.62% below the market average91.62% below the market average91.62% below the market average91.62% below the market average91.62% below the market average
98.91% below the sector average98.91% below the sector average98.91% below the sector average98.91% below the sector average98.91% below the sector average
Income Not Available
Growth
1.64% below the market average1.64% below the market average1.64% below the market average1.64% below the market average1.64% below the market average
5.99% below the sector average5.99% below the sector average5.99% below the sector average5.99% below the sector average5.99% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

RSE Dividends

No dividends found

Trades for 28-Jan-2020

Time Volume / Share Price
17:08 376 @ 417.75p
15:40 1,600 @ 415.40p
15:40 1,600 @ 413.50p
15:39 3,000 @ 414.00p
15:09 250 @ 414.35p

RSE Key Personnel

Chair Richard Hayden

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