Tri-Point Oil & Gas Production Systems posts $11.91 million May loss

By Caroline Salls

Pittsburgh, June 19 – Tri-Point Oil & Gas Production Systems, LLC reported an $11.91 million net loss for May on $276,000 in revenue, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of Texas.

In comparison, Tri-Point posted a $3.55 million net loss for April on $4.34 million in revenue.

The company had $59,000 in cash and cash equivalents as of May 31, down from $359,000 at the end of April.

Houston-based Tri-Point, through its subsidiaries, provides surface production solutions and process equipment and services to customers in North America. The company filed bankruptcy on March 16 under Chapter 11 case number 20-31777.

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