Delta Petroleum Eyes Bankruptcy Barring Major Deal

Law360, New York (November 10, 2011, 11:28 AM EST) -- Oil and gas company Delta Petroleum Corp. said Wednesday that it may file for Chapter 11 protection if it can't secure an acceptable deal for the sale of the company or its assets, among other potential transactions to address its liquidity issues.

Denver-based Delta, which reported a $429.4 million third quarter loss, said in a statement that its board of directors has considered a variety of potential transactions, including the sale of the company, the issuance of equity or debt securities, asset sales, joint ventures and...
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