Global Geophysical sees $11.92 million net loss, revenue drop in June

By Kali Hays

New York, Aug. 5 – Global Geophysical Services Inc. reported a net loss of $11.92 million on revenue of $13.44 million for June, according to its monthly operating report filed Aug. 5 with the U.S. Bankruptcy Court for the Southern District of Texas.

Those numbers compare to a net loss of $18.17 million for May on revenue of $23.76 million.

The company also reported cash of $29.04 million as of June 30, a decrease from $37.56 million reported at the end of May.

Global Geophysical, a Missouri City, Texas-based provider of seismic data services to the oil and gas industry, filed for bankruptcy on March 25. The Chapter 11 case number is 14-20130.

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