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Emerald Oil marks $821,366 loss from operations for May; revenue up
By Caroline Salls
Pittsburgh, June 29 – Emerald Oil, Inc. reported an $821,366 loss from operations for May on $3.72 million in sales, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.
In April, Emerald posted a $1.69 million loss from operations on $2 million in revenue.
The net loss for May was $3.43 million, narrowing from a $5.61 million April net loss.
The company had $3.54 million in cash and cash equivalents as of May 31, the same as at the end of April.
Based in Denver, Emerald Oil is an oil exploration and production company that filed for bankruptcy March 22 under Chapter 11 case number 16-10704.
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