Delta Petroleum Sells Appalachian and East Texas Basins
Delta Petroleum has closed on the sale of its properties in the Appalachian Basin and the East Texas Basin. The combined proceeds of the two transactions totaled approximately $31.3 million. Production from the two property packages approximated 2 million cubic feet equivalents (Mmcfe) per day. Both of these transactions are consistent with the Company's ongoing strategy to focus its activities in its operated core areas. The Company is exploring the possible sale of several other non-operated or non-core fields.
Delta Petroleum Corporation is an oil and gas exploration and development company based in Denver, Colorado. The Company's core areas of operations include the Gulf Coast and Rocky Mountain Regions, which comprise the majority of its proved reserves, production and long-term growth prospects. Its common stock is traded on the NASDAQ Global Market under the symbol "DPTR".