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(Alliance News) - Riverstone Credit Opportunities Income PLC has committed to investing 56% of the USD100.0 million it raised during May's initial public offering, the company said on Thursday in its maiden interim report.
The half-year report concerned the period beginning May 28, when its shares were admitted to AIM, to June 30. Net asset value per share as at June 30 was USD0.985 and it reported a pretax profit of USD480,000.
Shares in the company are down 1.8% at USD0.98 each in London on Thursday morning.
The company made three investment commitments totalling USD25.2 million in the interim, the investments were in companies in the exploration and production sector.
In June, Riverstone Credit committed USD5.9 million of funding in Project Yellowstone, the name of its investment in a midstream company concerned with the South Central Oklahoma Oil Province and the Sooner Trend in the Anadarko Basin.
Project Shiner, a USD6.0 million investment, will fund a shale operator's drilling in Lavaca County, Texas.
Additionally, Riverstone committed to a USD13.3 million investment in Project Alp, which will fund an exploration company's operations in the Northern Delaware Basin in western Texas and New Mexico.
After the period end, Riverstone committed to a total of USD30.6 million investments in three different projects. Committed investments now total USD55.8 million, it said.