Delta Petroleum Sells West Delta Block 52
Delta Petroleum Corporation completed the sale of 100% working interest in West Delta Block 52, Plaquemines Parish, Louisiana, to PANACO, Inc. on Friday, April 13, 2001.
The property was sold for $4,000,000, before adjustments, with an effective date of January 1, 2001. Gross daily production was approximately 300 barrels of oil per day. Delta will use $3,000,000 of the proceeds to pay down debt.