Investment company Riverstone Energy said chairman Sir Robert Wilson will step down as it announced a profit of $8.4million in 2015.
Riverstone said Sir Robert will step down following the company’s AGM in May. He will be replaced by Richard Hayden, a senior independent director. Hayden has been on the Riverstone board since the company floated in 2013. Sir Robert served as chairman of BG Group from 2004-2012
Sir Robert said: “2015 was a challenging year for the energy industry, but REL’s prudent investment strategy is allowing the company to weather the storm and profit from industry distress.”
Riverstone invested $469million in 2015, bringing total investments to $845 million, or 62% of capital available and 64% of capital raised.
During the course of 2015, Riverstone committed $857million to eight companies, including six new portfolio companies, bringing total commitments as of 31 December 2015 to $1,581 million, or 116 per cent of total capital available.
Riverstone said it now has a strong portfolio of 16 investments in the Gulf of Mexico, Continental US, Canada, Mexico, and the Norwegian and UK continental shelves, covering both onshore and offshore as well as conventional and unconventional exploration & production.
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