Riverstone Energy has published results for 2014. At the end of the year the net asset value way $16.31, an increase of 27 cents over the year. Write ups in the value of two investments generated the change in NAV as the other investments were held at cost. the two investments that were written up were Fieldwood Energy and CIOC.
Fieldwood Energy is an exploration & production company led by Matt McCarroll. Fieldwood owns the largest operated asset base on the Gulf of Mexico Shelf with 656 operated platforms across over 650 blocks. They committed $82 million to and invested $54 million in Fieldwood Energy.
CIOC is a private exploration & production company focused on “liquids-rich unconventional resources” in the Deep Basin of Western Canada. Riverstone Energy committed $60m to this investment and invested $54m of this over the course of 2014.
The company had uninvested cash of $836m at the end of the year.
RSE : Riverstone Energy writes up two investments and still has $836m to spend