Delta Petroleum Corporation (Nasdaq: DPTR), an independent oil and gas exploration and development company, announces the signing of a settlement agreement with the federal government concerning Lease 452 located offshore of California.
Under the terms of the agreement, Delta will receive gross proceeds of $65 million, which will result in approximately $50 million net to the Company after all contingent payments to third parties. The settlement agreement fully concludes Delta's offshore California litigation against the federal government.
Under the terms of the agreement, Delta will receive gross proceeds of $65 million, which will result in approximately $50 million net to the Company after all contingent payments to third parties. The settlement agreement fully concludes Delta's offshore California litigation against the federal government.
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