Riverstone Credit Opportunities Income PLC - firm which invests in mid-market energy company credit - Says it has partially realised its investment in Pursuit Oil & Gas. Riverstone says its remaining commitment is USD8.4 million.
The move comes after Pursuit was able to keep the vast majority of its wells online during the Texas freeze in February, benefiting from the sharp, temporary increase in natural gas prices. This resulted in excess liquidity, and a portion of the proceeds were used to paydown 30% of outstanding principal, along with interest and fees at the 2.5% call premium.
Current stock price: USD0.86, down 1.7% on Friday
Year-to-date change: up 24%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Riverstone Cred (RCOI)