BNK Petroleum Q2 loss thanks to unrealized losses from hedged commodityChristian Fernsby ▼ | August 12, 2020
BNK Petroleum announced second quarter.
Loss BNK Petroleum
Topics: BNK Petroleum
Without the unrealized hedging losses for the second quarter of 2020, the Company would have recognized positive net income.
Revenue, net of royalties was $1.5 million in the second quarter of 2020 compared to $4.6 million for second quarter of 2019.
The Company has an outstanding balance of $23.0 million on its credit facility at June 30, 2020 after paying down $4.5 million.
At June 30, 2020, cash totaled $1.4 million. ■