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Seahawk Drilling records $1.5 million June operating loss, no sales
By Caroline Salls
Pittsburgh, July 29 - Seahawk Drilling, Inc. posted a $1.5 million operating loss for June on zero total revenues, according to its monthly operating report filed Friday with the Securities and Exchange Commission.
In comparison, Seahawk posted a $1.96 million operating loss for May, also on zero total revenues.
The net loss for June was $18.58 million, declining from $10.29 million of net income for May.
The company had $14.07 million in cash and cash equivalents at June 30, down from $15.29 million at the end of May.
Seahawk, a Houston-based offshore drilling company, filed for bankruptcy on Feb. 11 in the U.S. Bankruptcy Court for the Southern District of Texas. The Chapter 11 case number is 11-20089.
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