Share Name Share Symbol Market Type Share ISIN Share Description
Riverstone Energy Limited LSE:RSE London Ordinary Share GG00BBHXCL35 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  -2.00 -0.57% 348.00 101,265 16:35:17
Bid Price Offer Price High Price Low Price Open Price
347.00 348.00 350.00 346.00 350.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments -233.34 -323.47 218
Last Trade Time Trade Type Trade Size Trade Price Currency
16:47:47 O 1,325 348.00 GBX

Riverstone Energy (RSE) Latest News (1)

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Date Time Title Posts
28/3/202121:51Riverstone Energy - Global Energy159

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Riverstone Energy (RSE) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-06-18 15:47:47348.001,3254,611.00O
2021-06-18 15:35:17348.002,5718,947.08UT
2021-06-18 15:29:34347.0040138.80AT
2021-06-18 15:26:44347.0069239.43AT
2021-06-18 15:20:05347.00148513.56AT
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Riverstone Energy (RSE) Top Chat Posts

Riverstone Energy Daily Update: Riverstone Energy Limited is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker RSE. The last closing price for Riverstone Energy was 350p.
Riverstone Energy Limited has a 4 week average price of 313p and a 12 week average price of 256p.
The 1 year high share price is 380p while the 1 year low share price is currently 208p.
There are currently 62,762,784 shares in issue and the average daily traded volume is 54,079 shares. The market capitalisation of Riverstone Energy Limited is £218,414,488.32.
rambutan2: Coincides with droop in share price this month: Completion of Share Buyback Programme Following the announcement on 1 May 2020 of the start of Company's GBP50 million Share Buyback Programme, the Board is pleased to confirm that the Share Buyback Programme has been successfully completed with a total of 17,214,197 ordinary shares having been bought back at an average price of approximately GBP 2.90 per ordinary share.
cj2021: Only stumbled across this recently and have positioned myself given the significant value disparity b/w NAV and current share price. NAV at June 2020 was £4.45 when Brent was $30, whilst Brent now is $63. Annual results expected before end of next week should show an increase in NAV to around £6 in my opinion. Thus current price per share of £3 will almost be a 50% discount to NAV!
spectoacc: The buy-back is back, as expected - just £7.5m remaining, but at same time as oil gone well up, £ been on the slide. Fancy RSE to go higher.
spectoacc: Posted without comment: "Discontinuation Resolution The Company's articles of incorporation require the Directors to propose to Shareholders a special resolution for the winding up of the Company if, on 29 October 2020, both of the following were true: (a) the trading price for the Ordinary Shares had not met or exceeded £14.70 at any time following the Company's initial admission to listing on 29 October 2013; and (b) the Company's "Invested Capital Target Return" had not been met. The Company's "Invested Capital Target Return" is a gross internal rate of return of 8 per cent. on the capital raised in the Company's initial public offering from the date of commitment or investment of the relevant portion of that capital to 29 October 2020. The Company's all time high trading price as at 29 October 2020 was £13.70 per ordinary share and the Company has delivered a gross internal rate of return of -16 per cent. on the capital raised in its initial public offering, calculated from the date of commitment or investment of the relevant portion of that capital to 29 October 2020. Accordingly, the Company must now convene an extraordinary general meeting at which a special resolution will be proposed for the winding up of the Company (the "Discontinuation Resolution"). The Company's articles require that the extraordinary general meeting must be held by 10 December 2020 and a circular including the notice of the meeting will be dispatched to shareholders in the near future. Shareholders should note that as the Discontinuation Resolution is a special resolution, it would require 75 per cent. of the votes cast on the resolution to be in favour to pass. The Company has received an irrevocable undertaking from its largest shareholder, AKRC Investments, LLC ("AKRC"), which holds approximately 31 per cent. of the Company's shares in issue on the date of this Circular, to vote against the Discontinuation Resolution. There are no circumstances in which AKRC can unilaterally revoke its voting undertaking. Further, affiliates of RIGL Holdings, LP, the Company's investment manager (the "Investment Manager"), which hold approximately 7 per cent. of the Company's shares in issue have also informed the Company that they intend to vote against the Discontinuation Resolution. Accordingly, although the Company is required to propose the Discontinuation Resolution to shareholders, it will not pass."
baloo4: Company set to buy back £19m worth of shares so discount likely to narrow significantly. Share price already up today in anticipation.
spectoacc: June 2019 NAV - £10.43/share Dec 2019 NAV - £7.36/share June 2020 NAV - £4.45/share Well, they've reduced the discount at least. Just not in the way shareholders would like.
apollocreed1: Highest riser in the FTSE All-Share is RSE. Up about 22%. On no news. What's going on and why so volatile? I sold out at 218 on Friday.
konkel: Following results, surely share price should be gapping up? $211m in cash, probable return to shareholders in some shape or form and possible wind up.
hugepants: For the share price to go from 1200p share price to 400p in 12 months is not very good for what is basically an investment trust
rambutan2: From AVT (5.1% stake) annual report (y/e 30/09) which out today: Riverstone Energy (‘RSE’) was by far our largest detractor for the year (-293bps) with a share price fall of -54%. A sharp decline in the NAV (-36%) was compounded by a near-doubling of the discount to 42%. Over the year, the price of West Texas Intermediate oil declined by -26%, with geo-political concerns outweighed by continued strong production levels. Sentiment to the US Oil & Gas sector is at all-time negative levels, with energy’s share of the S&P 500 at just 5% (down from a peak of 13% in 2008). Multiple compression in publicly traded peers (the S&P E&P Index trades at 5x EV/EBITDA vs 12x less than three years ago) has translated into write-downs for RSE’s private investments. More specific pain has been felt at Canadian holding Hammerhead Resources, RSE’s largest investment, due to government caps placed on production for companies such as Hammerhead that operate in Western Alberta. A shortage of pipelines and other infrastructure has depressed oil prices (when oil cannot be transported out of the Basin, this depresses local oil prices) within the Basin and led to the government action. Overall, RSE’s holdings were valued at a MOIC (multiple of investment cost) of 0.9x at June 2019 – this compares to a MOIC of 1.4x during the third quarter of 2018. RSE’s woes were further compounded by a -79% decline in the share price of its sole listed holding, Centennial Resources (‘CDEV’, 7% of NAV). CDEV was hit by the decline in oil prices over the period, which was compounded by guidance from management that it would be reducing production estimates by more than expected in response to the oil price slide. While this move is sensible insofar as it leaves oil in the ground when it is priced too low, it also means that CDEV is unlikely to break-even until at least 2022; previously, management had projected break even profitability in 2020. There were some points of positive news over the past year, including the realisation of two assets – Sierra and Meritage Midstream – accounting for 7% of NAV, and an announcement with the June 2019 results that the board continues to “evaluate options with the goal of reducing the discount”, and that it has been “holding discussions [...] regarding potential changes to the terms of the investment management agreement.” The RSE investment has been a difficult one for your Company to date, with weak NAV growth since the position was initiated in 2015, and discount widening impairing shareholder returns. While we would not want to pre-judge the announcement of the board’s measures to reduce the discount, we believe that structural solutions will be required to narrow the discount sustainably and we continue to engage with the board and management of RSE in order to achieve a satisfactory outcome for all parties.
Riverstone Energy share price data is direct from the London Stock Exchange
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