Dolphin Group ASA, the parent company of Dolphin Geophysical AS, which supplies the oil and gas industry with marine geophysical services, has warned that it could be forced to file for insolvent liquidation if it doesn’t reach an agreement with its main stakeholders that will allow for a successful completion of the restructuring of the group's debt and capital structure.
In its interim third quarter financial results, Dolphin Group posted total revenues of $78.7 million (3Q 2014: $128.5 million) and earnings at the EBITDA level of $18.4 million (3Q 2014: $38.2 million). The company registered a $31.1 million loss in 3Q 2015, compared to a profit of $12.2 million in the same period last year.
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