Riverstone Energy makes 'continued progress' in first quarter

Energy investment firm Riverstone Energy Limited (REL) said it was 'very pleased with the continued progress' its made during the first quarter.The company, which floated in London in October 2013, said that all five of its investments are still in their initial stages and are marked at cost, "but we are very excited about their prospects for growth and value creation in the near term". These five investments were all made in oil and gas companies that hold assets in the US and Canada.By March 31st, committed capital was $375m through the five investments - equal to 31% of total REL capital - three of which were made during 2014. Invested capital to date is $158m, representing 13% of REL capital.Co-Founders David Leuschen and Pierre Lapeyre Jr said: "In each of the three commitments made this quarter - Rock Oil, Fieldwood and CIOC - we are investing alongside proven management teams focusing on exploration and production in North America."BC Riverstone Energy