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Rincon Island records $1.34 million December net loss; revenue down
By Caroline Salls
Pittsburgh, Jan. 23 – Rincon Island LP posted a $1.34 million net loss for December on $743 in net revenue, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Northern District of Texas.
Those figures compared to a $1.49 million net loss reported for November on $5,712 in revenue.
The company had negative $930 in cash as of Dec. 31, improving from negative $34,956 at the end of November.
Rincon Island, a Santa Maria, Calif.-based oil and gas production company, filed bankruptcy on Aug. 8. The Chapter 11 case number is 16-33174.
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