Saratoga Resources’ net loss narrows to $2.15 million in August

By Angela McDaniels

Tacoma, Wash., Oct. 11 – Saratoga Resources, Inc. reported a $2.15 million net loss and a $20,481 operating loss for August on negative $736 of total revenue, according to its monthly operating report filed with the U.S. Bankruptcy Court for the Western District of Louisiana.

In July, the company had a $5.9 million net loss and a $3.76 million operating loss on $7,273 of total revenue.

The company had $705,563 of cash and cash equivalents as of Aug. 31, down from $796,557 as of July 31.

Saratoga Resources is an oil and natural gas exploration and production company based in Houston. The company filed for bankruptcy on June 18, 2015 under Chapter 11 case number 15-50748.

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