LONDON: Riverstone Energy Limited reported a profit of $3 million for the half year ended June 30, 2025, as the company prepares for a managed wind-down following shareholder approval earlier this month.
The company’s net asset value (NAV) stood at $372 million (£271 million), with NAV per share rising 2% in USD terms to $15.11, though falling 7% in GBP terms to £11.01. Total liquidity, including cash and public holdings, reached $285 million, while market capitalization settled at $270 million (£197 million).
Riverstone received $4.1 million in net realisations during the period, including $3 million from Permian Resources and $1.1 million from Whitecap Resources. The company ended the period with $73 million in cash and $6.2 million in potential unfunded commitments.
Since initiating its share buyback programme in May 2020, Riverstone has repurchased over 37 million shares, contributing to a share price increase from £2.20 to £8.00.
Chair Richard Horlick said the decision to wind down was made after “a period of detailed review” and aims to “secure and return capital to shareholders.” Co-founders David M. Leuschen and Pierre F. Lapeyre Jr. expressed confidence in the portfolio’s resilience and the company’s ability to deliver further realisations.
The investment manager noted a challenging environment for conventional energy, citing macroeconomic headwinds and inflation. Meanwhile, the decarbonisation sector has faced setbacks, particularly in the U.S., due to policy uncertainty and weakening investor sentiment.
Riverstone will now focus on crystallising value from its holdings, including recent developments such as Permian Resources’ $608 million acquisition of APA Corporation assets and Veren’s merger with Whitecap Resources.