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Riverstone Energy to use Rock cash for buyback

By Oliver Haill

Date: Tuesday 15 Aug 2017

Riverstone Energy to use Rock cash for buyback

(ShareCast News) - Riverstone Energy Limited (RSE) has received the balance of $14m from the sale of its interests in Rock Oil last October, which had been held in escrow.


The investment company's manager, Riverstone Energy Capital Partners, will acquire just over £1.1m RSE shares through secondary market purchases at prices below the prevailing published net asset value of the company over a period of up to four months, in order to satisfy the terms of the performance allocation payment.

RSE, which received $216m up-front from the Rock disposal, had a NAV per share of $19.74 as of 30 June 2017, down 1.8% since the end of December.

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