Rincon Island net loss grows to $1.39 million in February; no revenue

By Caroline Salls

Pittsburgh, March 21 – Rincon Island LP posted a $1.39 million net loss for February on zero revenue, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Northern District of Texas.

Those figures compared to a $922,044 net loss reported for January on $15,162 of net revenue.

The company had negative $720 in cash as of Feb. 28, down from $4,278 at the end of January.

Rincon Island, a Santa Maria, Calif.-based oil and gas production company, filed bankruptcy on Aug. 8, 2016. The Chapter 11 case number is 16-33174.

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