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Emerald Oil sees $1.5 million August loss from operations; sales slide
By Caroline Salls
Pittsburgh, Oct. 3 – Emerald Oil, Inc. reported a $1.5 million loss from operations for August on $2.79 million in sales, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the District of Delaware.
In July, the company saw a $1.37 million loss from operations on $3.63 million in sales.
The net loss for August was $2.65 million, narrowing from a $3.91 million July net loss.
As of Aug. 31, Emerald had $3.54 million of cash and cash equivalents, unchanged from July.
Based in Denver, Emerald Oil is an oil exploration and production company that filed for bankruptcy on March 22, 2016 under Chapter 11 case number 16-10704.
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