LaForta Gestao reports $58.88 million net profit for November

By Sarah Lizee

Olympia, Wash., Dec. 7 – LaForta Gestao e Investimentos Sociedade Unipessoal LDA reported a $58.88 million net profit on $60 million in sales for November, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the Southern District of Texas.

The company recently closed the sale of its drilling rig, resulting in the $60 million amount.

In comparison, the company reported a $1.26 million net loss on zero gross income or sales for October.

The cash balance at the end of November was $70.22 million, compared to $11.33 million at the end of October.

LaForta, which previously owned the Funchal, Portugal-based ultra-deepwater semi-submersible drilling known as La Muralla IV, is a wholly owned subsidiary of non-debtor Offshore Drilling Holding SA. It filed bankruptcy on June 16 under Chapter 11 case number 22-90126.

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