US-based Delta Petroleum will sell some of its non-core assets to Wapiti Oil & Gas for $130m, under a new agreement.
The sale will include Delta’s 31% working interest in the Garden Gulch field of the Piceance Basin in Colorado and its working interest in the Baffin Bay field in Texas.
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The non-core assets also include all of its interests in Piper Petroleum, half of its working interest in its DJ Basin fields and half of its working interest in the Texas fields of Caballos Creek, Choke Canyon, Midway Loop, Newton and Norian.
Delta also will sell to Wapiti its working interest in its acreage positions in the DJ Basin of Wyoming, Colorado and Nebraska, as well as other acreage in South Texas.
In addition to the sale, Delta will allow Wapiti to operate the Newton and Midway Loop fields and other Texas fields where it is the operator.
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By GlobalData
