Seahawk Oil International, an independent oil and...
Seahawk Oil International, an independent oil and gas exploration company, lost $247,245 in the first quarter compared to a loss of $156,983 a year earlier. Total revenue decreased 18%, to $604,956 from $741,143, for the first quarter of 1987.
The Newport Beach-based company said the lower revenue and net losses were directly attributable to the lower volume sold, the lower price of gas and to some extent to partial curtailment of production in some of the company’s producing properties.
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