Fairway Energy sees operating loss drop to $3.09 million in February

By Caroline Salls

Pittsburgh, March 29 – Fairway Energy, LP posted a $3.09 million operating loss for February on zero revenue, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

In comparison, Fairway reported a $3.3 million operating loss for January, also on zero revenue.

The net loss for February was $6.11 million, narrowing from a $6.46 million January net loss.

The company had $1.83 million in cash and cash equivalents as of Feb. 28, down from $5.05 million at the end of January.

Houston-based Fairway owns and operates an underground crude oil storage facility. The company filed bankruptcy on Nov. 26, 2018 under Chapter 11 case number 18-12684.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.