Gavilan Resources reports $20.76 million net loss for June

By Caroline Salls

Pittsburgh, July 22 – Gavilan Resources, LLC reported a $20.76 million net loss for June on $14.2 million in revenue, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the Southern District of Texas.

The company had $30.52 million in cash and cash equivalents as of June 30.

Gavilan Resources is a Houston-based private company established in 2017 in partnership with Blackstone to acquire, develop and produce oil and natural gas assets in the Eagle Ford Shale play in South Texas. The company filed bankruptcy on May 15 under Chapter 11 case number 20-32656.

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