One-Page Deal Sheet
Delta Petroleum Enters JV with EnCana to Develop in Piceance
Delta Petroleum Corp. Ovintiv Inc
Announced Date
February 28,2008
Effective Date
March 01,2008
Close Date
February 28,2008
Transaction Type
JV
Enterprise Value (EV)($MM)
411
Location
Country
United States
State
Colorado
Play
Production & Reserves Reserves
Transaction Details: Subscribe to see
Delta Petroleum has closed a transaction with EnCana Oil & Gas (USA) Inc., to jointly develop a portion of EnCana's leasehold in the Vega Area of the Piceance Basin. In addition, Delta has acquired over 1,700 drilling locations on approximately 18,250 gross acres with a 95% working interest. Delta also increased its interests in currently producing wells and will realize an addition of six thousand cubic feet ("Mcf") of natural gas net per day.
The transaction increases the Company's working interest in the North Vega project leasehold to 95% from an average 50%, with additional acquired…
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