StockMarketWire.com - Resources company investor Riverstone Energy posted a weaker annual performance after the value of its holdings sank in the fourth quarter.

The company's net asset value per share for the year through December fell 13% to $17.91, or by 8% in Sterling terms.

Investments in Hammerhead and Centennial were the largest drivers of the decline, with almost all of the decrease in value having occurred during the fourth quarter.

The company booked an annual bottom-line loss of $241.0m.

'Riverstone Energy's $137m cash balance makes the company well placed to make new investments and grow its existing Portfolio,' the company said.

'The investment manager believes the current market environment is generating attractive opportunities in midstream, oilfield services and power, and will continue to seek to invest in opportunities that span the entire energy value chain to diversify its E&P exposure.'


At 8:10am: [LON:RSE] Riverstone Energy Limited share price was -11p at 1037p



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